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NAGA
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NAGA

Cyprus
1996
1
5.96
Rating Index
Software
7.97
Licensed
6.02
Risk Control
2.93
Experience
8.48
Institution
6.02
Industry Classification
D
Unqualified
Trading Platforms
NAGA Web Trader, MT4, MT5

Basic Information

  • Registered Region
    Cyprus
  • Operation Status
    Normal
  • Operating Period
    1996
  • Deposit Methods
    Visa, Mastercard, Maestro, Discover, Equals Money
  • Website
  • Market Type
    Foreign exchange
  • Support Languges
    English
    German
    Spanish
    French
    Portuguese
    Italian
    Russian
    Turkish
    Arabic
    Chinese
  • Main Business
    FX, commodities, digital assets, stocks, indices, CFDs
  • Business Type
    Multi-asset
  • Social Media
  • Contact Details
  • Type of Accounts
    Iron, Bronze, Silver, Gold, Diamond, Crystal
  • Trading Platforms
    NAGA Web Trader, MT4, MT5
  • Withdraw Methods
    Corresponds to deposit method; includes bank transfer and e-wallets
  • Auto Trading
    Yes (Copy Trading available)

Pros and Cons

Pros: Regulated by CySEC, diverse range of trading instruments, low minimum deposit, multiple account types, available copy trading feature. Cons: No demo accounts provided, limited customer support options (no live chat), and regional restrictions mainly within the EEA.

Company Background

NAGA is a multi-asset broker established in 1996, headquartered in Cyprus and regulated by the Cyprus Securities and Exchange Commission (CySEC). The firm operates as an online trading platform offering a wide range of financial instruments, including forex, stocks, cryptocurrencies, and various commodities. The company emphasizes innovation through its trading technology and Copy Trading services, aiming to make trading more accessible to both novice and experienced traders.

Fund Security

NAGA is regulated by CySEC (license number 204/13), ensuring a level of investor protection through established financial regulations. Clients' funds are segregated from corporate funds, providing additional security. Nevertheless, the broker operates as a market maker, which could introduce potential conflicts of interest.

Account Opening

NAGA offers six account types, with a minimum deposit starting at $10 for the Iron account and progressively higher minimums for Bronze, Silver, Gold, Diamond, and Crystal accounts. Account opening is straightforward via their online platform, and there is no availability of demo accounts for practice.

Trading Fees

Trading costs include spreads starting at 1.1 pips for the Iron account, with further reductions available for higher-tier accounts. Trading fees are competitive, with zero deposit and withdrawal fees. Commissions may apply for specific trading services, notably in copy trading.

Trading Instruments

The platform supports over 4,000 tradable instruments, including forex pairs, cryptocurrencies, equities, indices, ETFs, and commodities, catering to a wide range of trading preferences and strategies.

Trading Technology

NAGA provides a proprietary web trader as well as access to popular platforms such as MetaTrader 4 and MetaTrader 5. Mobile applications are available for both iOS and Android devices, allowing for versatile trading options across devices.

Research and Education

NAGA offers educational resources but lacks comprehensive tools for advanced market analysis, which may limit traders seeking in-depth research. Information is available through the company's website and trading platform but lacks the depth typically found in more focused educational institutions.

Customer Support

Customer support is available via phone and email, but there is no live chat feature, which may hinder immediate assistance for urgent queries. The firm also has social media presence, offering another channel for communication.
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Rating Instructions
Rating Index
NAGA
NAGA
Regulated
Legal Environment
7.97
License Value
6.02
Risk Management
2.93
Investor Protection
8.48
Regulatory Policy
6.02
  • Software

    Evaluates the regulator's legal foundation, organizational structure, leadership experience, and enforcement capacity. Focuses on whether it enforces strict regulations, maintains transparency and fairness, and engages in international cooperation and technological supervision.

  • Institution

    Analyzes the regulator's policy framework, decision-making process, and enforcement transparency, including rule-making, internal control, and policy implementation effectiveness.

  • Licensed

    Assesses the market value of the licenses issued by the regulator, including entry thresholds, compliance costs, approval duration, and overall global recognition and influence.

  • Risk Control

    Evaluates the regulator's financial stability and risk management capacity, including budgeting, reserves, revenues, expenditures, and ability to respond to market or financial shocks.

  • Investor Protection

    Examines the regulator's complaint-handling and investor protection systems, assessing fairness, responsiveness, and enforcement effectiveness in safeguarding investor rights.

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