NAGA.com Broker Review – Unbiased Look at the Brokerage Company
Founded in 2015, NAGA is a fintech company that offers different financial services to customers. The intermediary offers its clients to make investments in the world financial markets.
You can join people who invest in real stocks, cryptocurrencies, Forex, ETFs, and CFDs through social trading. You have the right to copy the trades of professionals in automatic mode or receive money when other market participants copy the principles of your trading strategy.
Every day you will be able to receive free news and trading signals. At the same time, professional support from your personal account manager is available to you.
It should be noted that the fintech company NAGA is public. It is listed on the Frankfurt Stock Exchange. The broker is supported by the multi-billion dollar FOSUN fund. All transactions of the intermediary are completely transparent.
Regulation
When we talk about NAGA.com broker, we should not neglect the license, which is pivotal for every financial services provider. The license ensures the legitimacy and reliability of the broker. In case there are misunderstandings or complications, the regulator will always be present to resolve the issues.
NAGA.com FX broker is a completely legit brokerage company that has a license from CySEC – Cyprus Exchange and Securities Commission. There is also the proof of the license at the bottom of the main website and you can also find additional documents. The broker has received numerous awards and all reviews from customers on the Internet prove that the broker is totally trustworthy. The broker also encourages you to take risks responsibly and adequately assess your capabilities.
What’s good: orders are executed at the price that is displayed on the trader’s platform. You should not worry about delays in the transmission of information. In the section “Business Conditions” you can get acquainted with the legal documentation. The company was founded in 2015.
Assets/trading tools
It is noteworthy that on the official website of NAGA FX broker you can discover major world markets. These are cryptocurrencies, ETFs, stocks, metals, indices, commodities, Forex instruments. Investing in various assets and derivatives can be carried out while in a single account. There are also automatic investment products. These are robot advisors CYBO, Auto-Copy, NAGAPortfolios, as well as 2% interest CFDs.
Depending on your aims and objectives, you can use different trading tools without problems. Crypto trading is one of the most popular options, but Forex trading is the first opportunity for traders. You can access major currency pairs such as EUR/USD, EUR/GBP and get profitable conditions for trading.
Forex allows to trade currencies, in the largest and most liquid market in the world. You can open a position, short or long, in the shares of public companies and benefit from the fall or rise in their prices. Additionally, you have the right to invest in real shares of the same companies. Indices allow you to invest in instruments that reflect the performance of a particular segment or market. The purchase and sale of precious metals – silver, gold, and platinum are available for the purpose of insurance against risks. ETFs allow you to speculate on the movement of entire industries. Cryptocurrencies are offered in the context of secure trading of major digital currencies with blockchain-based decentralization functionality. Commodities open up new trading opportunities for you, working with energy and commodities around the world.
Platforms
There is a diversity of trading platforms on the NAGA.com website that every user can turn to. In addition to 2 major platforms – MetaTrader 4 and MetaTrader 5, users can also check the exclusive NAGA Trader that is available on both desktop and mobile devices (iOS and Android). Trading platforms are completely free to download and they make the whole trading process more convenient for customers.
Accounts
Whether you are a novice or experienced trader you can always access the following 3 types of accounts: demo, live and Islamic. Demo accounts are primarily designed for traders who are taking their first steps in trading. Live accounts are standard trading accounts that are divided into 6 different groups – from Iron to Crystal and as you progress through different levels you can reach the latest section. Islamic accounts are swap-free accounts that are suited for those who follow Islamic regulations and we know that in the Islamic faith, trading has some restrictions.
In order to open the account, you need to deposit at least $250 but for high-level accounts, such as Platinum or Crystal you will need more than that. Of course, there are numerous benefits that you will get as well.
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Bonus/VIP program
There is no bonus available on the broker’s website at the present moment unfortunately, but you can always try out the copy trading bonus, which awards traders with a percentage bonus if other customers copy their trades. In addition, you can check the promotions that are added regularly on the broker’s website.
As for the VIP program, the type of accounts that we have already mentioned above is somewhat connected to this system. As soon as you progress into the next levels, you will be eligible for new accounts.
Mobile
In the modern Forex industry, mobile trading has reached its peak and it goes without a question that many brokers are focusing on this feature. The mobile version of the NAGA.com broker is fully responsive on different platforms and devices. Furthermore, the trading app is downloadable on mobile devices and the exclusive NAGA Trader is supported. The UI and UX of the mobile platform are excellent and every user can make the most out of the trading tools. What’s more important, the company’s specialists regularly release smart updates and major releases in order to ensure maximum convenience.
Extra features
When we talk about additional features available on the broker’s website, we should first note the educational material. Various ebooks, webinars, tutorials are provided by the broker. Without getting additional information about trading it is hard to progress and the broker ensures to provide traders with high-quality tutorials.
Now the NAGA broker offers training at its academy, maintains a blog, publishes an economic calendar, and conducts webinars. The NAGA brand is managed by several subsidiaries. They are registered, in particular, in Saint Vincent and the Grenadines, the Cyprus Securities and Exchange Commission, in Hamburg. Residents of some countries cannot use the services of the company.
An interesting opportunity is the opening of multicurrency accounts with euros, pounds sterling, US dollars. Opening of several trading accounts is available, with one of the base currencies that are supported. Even cryptocurrency accounts are allowed. The leverage is the same for all account types – 1: 1000. The minimum deposit is $250.
Support
If a company does not have friendly and comprehensive customer support it is difficult to talk about the legitimacy and fairness of the brand. In that regard, we can point out that the NAGA.com Forex broker is definitely exceptional, as the latter can be contacted through live chat, email and phone number. The support is available 24 hours 5 days a week. Numerous languages are supported but most of the time, clients get answers to their questions in English.
Deposit/withdrawal
With NAGA, withdrawals and replenishment of the account can occur with a large number of payment methods, taking into account credit cards, cryptocurrency, e-wallets, transfers through local banks. In this case, no commission is charged for the deposit. Clients are promised instant order execution because the broker knows that every millisecond counts.
Deposits and withdrawals are highly secured by the website. It uses security systems that protect customers from the illegal interference of hackers. The minimum withdrawal is equal to $50 or equivalent in other currencies and there are additional commissions that rarely exceed $10
Verdict
We have finally come to the main part of our NAGA.com review – can this broker be trusted? The brokerage company is completely legit, licensed by CySEC and there are no questions about its legitimacy. Furthermore, the spreads are really on point, the leverage is up to 1:1000 and the diversity of trading instruments is something that will attract a lot of traders. As for payment methods, users can access both fiat methods as well as non-traditional ones including Skrill and cryptocurrencies. Overall we would highly recommend this broker to every customer who is looking for a reputable brand for trading.
FAQ on NAGA Forex Brokerage
Is NAGA FX broker legit?
Yes, NAGA.com FX brokerage is a totally legit company that offers licensed financial services to all customers around the world. The proof of the document can be found at the bottom of the website. CySEC is responsible for regulating the broker.
Which trading instruments are offered by the broker?
The broker offers over 900 trading instruments for trading to customers. We can note crypto trading, commodities, Forex, indices, stocks, and ETFs. These are the most popular options.