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The WikiFX Score of this broker is reduced because of too many complaints!

NAGA

Cyprus|2-5 years|
Suspicious Regulatory License|MT4/5 White Label|Regional Brokers|High potential risk|

https://naga.com/

Website

Rating Index

MT4/5 Identification

MT4/5

White Label

NagaMarkets-Demo

United Kingdom
MT4
3

Influence

C

Influence index NO.1

Kuwait 2.96
The WikiFX Score of this broker is reduced because of too many complaints!

MT4/5 Identification

MT4/5 Identification

White Label

3
Server Name
NagaMarkets-Demo MT4
Server Location United Kingdom

Influence

Influence

C

Influence index NO.1

Kuwait 2.96

Surpassed 30.78% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

+44 2035197495
support@naga.com
https://naga.com/
First Floor, First St. Bank Ltd Building, James Street, Kingstown, VC0100, Saint Vincent & the Grenadines

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

English

+44 2035197495

Broker Information

More

Company Name

NAGA Group AG

Company Abbreviation

NAGA

Platform registered country and region

Cyprus

Company website
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Pyramid scheme complaint

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Warning: Low score, please stay away! 3
Previous Detection : 2024-03-29
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 8 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

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Expose

    NAGA · Company Summary

    Aspect Information
    Registered Country/Area Cyprus
    Founded Year 2015
    Company Name NAGA
    Regulation Not regulated
    Account Types Six VIP trading account types
    Minimum deposit $250
    Maximum leverage 1:1000
    Trading Platforms NAGA Trader Mobile, NAGA Trader for Web, MT4, MT5
    Tradable Assets Over 1000 options including Stocks, Indices, Forex, Commodities, and ETFs
    Demo Account Available
    Customer Support Email, live chat, telephone support
    Payment Methods Bank wire transfer, credit/debit cards, cryptocurrencies
    Educational Tools Trading calculator, Economic calendar, Earnings calendar, Blog, Daily hot news, NAGA Learn, Glossary, Currencies Encyclopedia, Currency Converter, eBooks, Webinars

    Overview of NAGA

    NAGA was founded in 2015 by Yasin Qureshi and Benjamin Bilski. The company conducted an initial public offering in 2017, surpassing $50 million in a few months on the Frankfurt stock exchange. The brokerage is currently headquartered in Limassol, Cyprus. NAGA offers a wide range of tradable assets. With over 1000 options including Stocks, Indices, Forex, Commodities, and ETFs, traders have a diverse selection to choose from. It offers maximum leverage of up to 1:1000, and theminimum deposit requirement is $250.

    NAGA provides multiple trading platforms, including NAGA Trader Mobile, NAGA Trader for Web, as well as the popular MT4 and MT5 platforms. Traders can access a demo account for practice trading and benefit from the availability of educational tools such as a Trading calculator, Economic calendar, Earnings calendar, Blog, Daily hot news, NAGA Learn, Glossary, Currencies Encyclopedia, Currency Converter, eBooks, and Webinars. Customer support is offered through email, live chat, and telephone, and various payment methods, including bank wire transfer, credit/debit cards, and cryptocurrencies, are supported. It's important to note that NAGA is not regulated, and traders should carefully consider this factor when evaluating the platform.

    basic-info

    Is NAGA legit or a scam?

    An essential aspect to consider for a broker's security is its regulatory credentials. NAGA was previously fully licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC), which provided a level of oversight and protection for traders. However, there is currently uncertainty surrounding the platform's regulatory status, as there have been reports or indications that the regulation information may be associated with suspicious or cloned entities. This lack of clarity raises concerns about the platform's credibility and the level of investor protection it can offer. Traders should exercise caution and thoroughly research the current regulatory status of NAGA before considering opening an account or engaging in trading activities on the platform. It is advisable to seek information from reputable sources or consult with financial authorities to ensure the broker's regulatory compliance and the safety of funds.

    Pros and Cons

    NAGA has several advantages and disadvantages for traders to consider. It offers trading experience with its wide range of tradable assets and multiple trading platforms, allowing traders to diversify their portfolios and choose the most suitable platform for their needs. The availability of a demo account enables users to practice trading strategies. Additionally, NAGA provides a comprehensive range of educational resources, including free tools and resources, to enhance traders' knowledge and skills. It offers maximum leverage of up to 1:1000, and theminimum deposit requirement is $250.

    However, it's important to note that NAGA operates without regulation, which may raise concerns for some traders. Moreover, traders should be aware of potential fees, such as the flat fee and additional fees on copied trades, as well as possible charges and limits associated with withdrawals.

    Pros Cons
    Wide range of tradable assets Not regulated
    Multiple trading platforms available Flat fee and additional fees on copied trades
    Demo account for practice trading Potential withdrawal charges and maximum withdrawal limits
    Diverse range of educational resources
    Multiple deposit and withdrawal methods
    Comprehensive customer support
    Free and multiple educational resources
    Generous maximum leverage of up to 1:1000

    Market Instruments

    NAGA is a comprehensive trading platform that provides a wide range of products and services to its users. One of its key strengths is the extensive selection of assets it offers, which includes over 1000 options. These assets encompass various categories such as Stocks, Indices, Forex, Commodities, and ETF's. By offering such a diverse range of assets, NAGA enables traders to access different markets and opportunities, allowing for portfolio diversification.

    products

    Account types

    NAGA offers a choice of VIP trading accounts:

    · Iron – $250 minimum deposit, earn $0.12 per copied trade on all instruments, earn $0.50 per copied trade on premium forex pairs, $5 withdrawal fee, daily 5 trading signals

    · Bronze – $2,500 minimum deposit, earn $0.15 per copied trade on all instruments, earn $0.60 per copied trade on premium forex pairs, $4 withdrawal fee, daily NAGA 5 trading signals, PI dashboard

    · Silver – $5,000 minimum deposit, earn $0.18 per copied trade on all instruments, earn $0.70 per copied trade on premium forex pairs, $3 withdrawal fee, daily 10 trading signals, PI dashboard, one-on-one tutoring (2 per month)

    · Gold – $25,000 minimum deposit, earn $0.22 per copied trade on all instruments, earn $0.80 per copied trade on premium forex pairs, $2 withdrawal fee, daily 15 trading signals, PI dashboard, one-on-one tutoring (4 per month), premium eBooks and contests

    · Diamond – $50,000 minimum deposit, earn $0.27 per copied trade on all instruments, earn $1.00 per copied trade on premium forex pairs, $1 withdrawal fee, daily 20 trading signals, PI dashboard, one-on-one tutoring (7 per month), premium eBooks and contests, profile awareness boost

    · Crystal – $100,000 minimum deposit, earn $0.32 per copied trade on all instruments, earn $1.20 per copied trade on premium forex pairs, $1 withdrawal fee, unlimited daily NAGA trading signals, PI dashboard, one-on-one tutoring (unlimited), premium eBooks and contests, profile awareness boost.

    account-types

    How to Open an Account?

    To open an account with NAGA, you can follow these steps:

    1. Visit the NAGA website: Go to the official NAGA website using a web browser on your computer or mobile device.

    2. Click on “START TRADING”: Look for the button on the website's homepage or in the navigation menu, and click on it.

    open-account

    3. Fill out the registration form: Provide the required information in the registration form, which typically includes details such as your name, email address, and password.

    open-account

    4. Verify your email address: After submitting the registration form, you will receive an email from NAGA containing a verification link. Click on the link to verify your email address.

    5. Complete the account verification process: Depending on the regulatory requirements, you may need to provide additional information and documentation to verify your identity.

    6. Fund your account: Once your account is verified, you can proceed to fund your NAGA account. NAGA typically offers multiple deposit methods, such as bank transfer, credit/debit cards, or electronic payment services. Choose the method that suits you best and follow the instructions to make a deposit.

    7. Start trading: Once your account is funded, you can start trading on the NAGA platform. Familiarize yourself with the platform's features, choose your preferred financial instruments, and execute your trades based on your trading strategy.

    Leverage

    NAGA offers a maximum leverage of up to 1:1000, allowing traders to potentially amplify their returns. However, it's important to note that high leverage also entails high risk. While increased leverage can magnify profits, it can equally magnify losses. Traders should exercise caution and carefully consider their risk tolerance and trading strategies before utilizing high leverage. It is advisable to use leverage responsibly and employ risk management techniques to mitigate potential losses. Understanding the risks associated with high leverage is crucial for maintaining a balanced and sustainable trading approach.

    leverage

    Fees

    NAGA offers a fee structure that includes variable spreads with zero commission on most assets. For forex trading, typical spreads are around 1.8 pips, while indices also have a similar fee structure, although spreads may vary depending on the specific market. When it comes to CFD trades, NAGA charges a commission of €2.50 (or the equivalent in the respective currency) for each in/out transaction.

    In addition to these trading fees, NAGA implements a flat fee of €0.99 on all trades that are copied by users. This fee applies regardless of the size or value of the trade. Furthermore, trades that generate a profit equal to or greater than €10 incur an additional 5% fee.

    Trading Platforms

    NAGA offers a diverse range of trading platforms, including NAGA Trader Mobile, NAGA Trader for Web, MT4, and MT5 to cater to users trading needs.

    NAGA Trader Mobile provides a convenient trading experience through the NAGA iOS or Android applications. With these mobile apps, traders can conveniently access their NAGA accounts on the go. Whether you are using a smartphone or tablet, you can enjoy the full range of trading features and functionalities, including real-time market data, charting tools, and order execution.

    For those who prefer trading from their web browsers, NAGA Trader for Web is the ideal solution. This platform allows users to trade from any device with an internet connection and a compatible browser. Whether you are using a desktop computer, laptop, or even a tablet, you can access the NAGA trading platform directly through your preferred web browser.

    NAGA also supports the popular MetaTrader4 (MT4) platform, which is widely recognized for its robust features and extensive technical analysis tools. MetaTrader4 offers a comprehensive suite of tools, including customized charts, automated trading capabilities, and a wide range of indicators.

    In addition to MT4, NAGA also supports MetaTrader5 (MT5). With MT5 integration, NAGA users can trade on one of the most advanced and versatile trading platforms available. MetaTrader5 offers enhanced features compared to its predecessor, including additional order types, improved charting options, and expanded time frames.

    trading-platform

    Deposit & Withdrawal

    NAGA provides users with a diverse range of over 20 deposit and withdrawal methods, ensuring convenience and flexibility. The specific options available may vary depending on the user's country of residence. These methods include instant options such as bank wire transfer, credit/debit cards (Visa, Mastercard, and Maestro), cryptocurrencies like Bitcoin, NAGA Coin, and Ethereum, as well as alternative payment methods such as Skrill, Giropay, and Neteller. On the other hand, withdrawal requests are typically processed within the same day or the following day, except for those submitted outside of working hours.

    While NAGA does not charge any deposit fees, it's important to note that withdrawal charges may vary based on the user's level within the platform. Furthermore, the maximum withdrawal amount is determined by the specific payment method chosen by the user.

    Overall, NAGA's wide range of deposit and withdrawal methods cater to users' preferences and needs. However, users should be mindful of potential withdrawal charges and ensure they are aware of the maximum withdrawal limits associated with their chosen payment method.

    Customer Support

    For customer support, NAGA offers multiple contact channels to assist users. You can reach out to their team via email at support@nagamarkets.com. Additionally, a live chat feature is available on the website, easily accessible at the bottom of the page. If you prefer a direct conversation, you can contact them by telephone at +357 25 041410.

    In addition to these channels, NAGA maintains an active presence on various social media platforms including Facebook, Instagram, Twitter, YouTube, and LinkedIn. By following their accounts, traders can stay updated with the latest news, product announcements, and market insights shared by the broker. These platforms provide an additional means of staying connected and informed about the developments within the NAGA ecosystem.

    payment-methods

    Educational Resources

    NAGA provides a comprehensive set of educational resources and tools to assist traders. These tools include a Trading calculator, Economic calendar, and Earnings calendar, which aid in making informed trading decisions. The platform also offers a range of educational resources, such as a Blog, Daily hot news, NAGA Learn, Glossary, Currencies Encyclopedia, Currency Converter, eBooks, and Webinars. These resources aim to enhance traders' knowledge and skills, allowing them to stay up to date with market trends and make well-informed trading strategies.

    However, it's worth noting that while NAGA offers a wide array of educational resources and tools, there are some limitations. For instance, the availability and quality of these resources may vary, and traders should carefully evaluate their relevance and accuracy.

    educational-resources

    Conclusion

    In conclusion, NAGA is a brokerage platform founded in 2015 that offers a wide range of tradable assets and multiple trading platforms, including NAGA Trader Mobile, NAGA Trader for Web, MT4, and MT5. It provides a demo account for practice trading and offers various educational resources to enhance traders' knowledge and skills. NAGA supports multiple deposit and withdrawal methods and provides customer support through email, live chat, and telephone. However, a significant disadvantage is that NAGA is not currently regulated, raising concerns about the platform's credibility and investor protection. Traders should carefully consider this factor and conduct thorough research before engaging with the platform. Additionally, there may be potential fees, including a flat fee and additional fees on copied trades, as well as charges and limits associated with withdrawals.

    FAQs

    Q: Is NAGA a trustworthy platform or a scam?

    A: The regulatory status of NAGA is suspicious clone, and traders should exercise caution.

    Q: What trading platforms does NAGA offer?

    A: NAGA provides multiple trading platforms, including NAGA Trader Mobile, NAGA Trader for Web, MT4, and MT5.

    Q: What deposit and withdrawal methods does NAGA support?

    A: NAGA offers over 20 deposit and withdrawal methods, including bank wire transfer, credit/debit cards (Visa, Mastercard, and Maestro), cryptocurrencies like Bitcoin and Ethereum, and alternative payment methods like Skrill, Giropay, and Neteller.

    Q: How can I contact NAGA's customer support?

    A: You can contact NAGA's customer support through various channels. Reach out via email at support@nagamarkets.com, utilize the live chat feature on the website, or call them directly at +357 25 041410. NAGA also maintains an active presence on social media platforms, including Facebook, Instagram, Twitter, YouTube, and LinkedIn.

    Q: What educational resources are available on NAGA?

    A: NAGA offers a comprehensive set of educational resources, including a Trading calculator, Economic calendar, Earnings calendar, Blog, Daily hot news, NAGA Learn, Glossary, Currencies Encyclopedia, Currency Converter, eBooks, and Webinars.

    News

    NAGA Sees 63% Revenue Jump in Q1 2022, Gains Estonia License

    NewsNAGA Sees 63% Revenue Jump in Q1 2022, Gains Estonia License

    2022-04-26 10:20

    The firm plans to separately report its financials of three divisions from next quarter.

    WikiFX
    2022-04-26 10:20
    News
    NAGA Sees 63% Revenue Jump in Q1 2022, Gains Estonia License
    NAGA to Launch Crypto Exchange in March, January Revenue Hits Record

    NewsNAGA to Launch Crypto Exchange in March, January Revenue Hits Record

    2022-02-16 16:38

    Hamburg-headquartered NAGA Group AG (XETRA: N4G) is taking another major leap into the crypto industry and is set to launch its cryptocurrency exchange on March 7, 2022.

    WikiFX
    2022-02-16 16:38
    News
    NAGA to Launch Crypto Exchange in March, January Revenue Hits Record
    NAGA to Launch Crypto Exchange in March, January Revenue Hits Record

    NewsNAGA to Launch Crypto Exchange in March, January Revenue Hits Record

    2022-02-16 15:38

    It will launch an NFT platform. Brokerage revenue for last month came in at €8 million.

    WikiFX
    2022-02-16 15:38
    News
    NAGA to Launch Crypto Exchange in March, January Revenue Hits Record
    NAGA Secures Another €34 Million as Growth Capital

    NewsNAGA Secures Another €34 Million as Growth Capital

    2021-11-22 12:00

    The company will use the funds in financing global growth and enhanced marketing measures.

    WikiFX
    2021-11-22 12:00
    News
    NAGA Secures Another €34 Million as Growth Capital

    User Reviews

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    Comments

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    Qutb Siegers
    0-3months
    Incredible wide range. High-tech and advanced custom trading platform. Opportunity to engage in social trading and be a strategy provider or just copy trades from others. I appreciate all the options Naga provides and it is correctly labelled as a versatile platform. However, I was surprised when I made a withdrawal and they charged me a fee. It was a small fee but i didn’t expect it 😀
    2024-03-24 16:12
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    0
    0
    Eduard Hautzig
    0-3months
    This is not just another broker. This is a complete trading ecosystem. Naga has proven to be an excellent choice for me. It is much more convenient to follow the news, get market insights, trade and even copy trade from one platform and just one account. Naga has it all and excels in each aspect of its services!
    2024-03-23 20:11
    Reply
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    0
    Jonatán F.
    0-3months
    In all the time I've spent trading, I don't think I've found a feature that improved my results as much as Naga's copy trading has. It is true that trading is not that easy. I have learned very quickly thanks to the education provided by the broker. That's another feature that I've found very useful. With so many materials, I am sure that I will improve my personal success, but for now, most of my successes lie in copy trading. However, I don't like the account types. I think it would have been better to have just one account.
    2024-03-23 13:45
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    Adrian Pareja
    0-3months
    I recently dipped into GBPAUD in NAGA, bought at 1.923 and exited at 1.945...booked it! The precision in the execution was impeccable. The NAGA platform is packed with features like an economic calendar and real-time alerts, which made it very easy to anticipate market movements. Leverage with a perfect limit for my trade amplified my profits comfortably. I'm not going to lie, I also do some social operations here. They allow me to share ideas and strategies with a vibrant community. A supportive social network underscores the value of NAGA for traders of all levels.
    2024-03-19 13:49
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    PabloYáñez
    0-3months
    My opinion about this broker was formed a long time ago. And it's only positive
    2024-03-13 22:08
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    RinoMulder77
    0-3months
    NAGA's practice account saved me some capital as I honed my skills and emotions... Excellent!
    2024-03-13 16:28
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    Bartek Kaczmarczyk
    0-3months
    NAGA has a wide selection of VIP Levels each with distinct features for trading and not only. The higher the deposit - the higher the level. Check out the details.
    2024-03-12 14:32
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    Alexis Espinar
    0-3months
    It's impossible to imagine a better platform than naga from EVERY aspect! 😊 I really like my experience here, hope you enjoy it too. A lot of opportunities to succeed in trading.
    2024-03-11 18:12
    Reply
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    Richard Novak
    0-3months
    With NAGA you get to trade a vast number of instruments👍 I traded some commodities on MetaTrader 5 and it was good. Wish they had more comprehensive charting tools.
    2024-03-11 13:17
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    Oscar3725
    0-3months
    For me, the Naga broker excels in almost all aspects, starting with investment conditions, such as a wide variety of tradable assets, the possibility of making investments in real stocks and ending with an attractive website. You feel as if you are immersed in an independent ecosystem with its microworld. In my opinion, such immersion only plays in your favor when it comes to making money :)
    2024-03-07 18:53
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    Felix582
    0-3months
    the guys i found in the copytrading area are incredible! they are making everything so accessible and easy for me that its like having a cheatcode :D. I just love their social trading feature, i cannot help it. it is what has really boosted the profits in me portfolio. The spreads are competitive if you wnna trade yourself, best choice for both newbies and piggy backers like me!
    2024-03-07 18:45
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    Ignacy Topolewski
    0-3months
    Guys who claim that this is just a broker, nothing special, c'mon, is it your first day of trading ? :) Sorry for abusing, I just want to say that this platform has already become my second virtual home. My wife is even about to be jealous, cuz I allocate way more tiem to trading than to her... but she just doesn't realise I am doing it for her! Getting back to Naga - solid platform, respected and has a great reputation. Stable, fast, quick, fulminant, rapid and other adjectives!
    2024-03-05 14:17
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    FaroVerano99
    0-3months
    NAGA has a lot going for it so it seems legit. There are no commissions for investing in real stocks!
    2024-03-04 15:34
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    Sebastian5339
    0-3months
    I'm not the operator I want to be. I still have a lot to learn to trade independently, but I think I have found the best platform to learn and trade simultaneously. This is probably one of the best copy trading platforms. I have looked at a couple of them and this platform has the best systems for tuning parameters and there are many talented strategy providers.
    2024-03-03 23:08
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    Nicolas Jimenez
    0-3months
    Customer support is one of the best aspects of the naga trading experience. Brokers need to offer an effective means of communication between the company and its clients.
    2024-03-02 03:15
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    Raulo Vea
    0-3months
    For me, trading with NAGA has been a good experience. What caught my attention the most is its self-copy function... quite practical for busy people. and spreads start at reasonable levels for many assets
    2024-02-12 17:05
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    0
    0
    relief @fusionforensicstech
    0-3months
    his personalized approach ensured tailored advice aligned with my individual needs and aspirations. Despite possessing extensive knowledge, the financial expert fostered a comfortable atmosphere, devoid of any coercive tactics.
    2024-02-12 11:31
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    0
    0
    Lautaro Sainz
    0-3months
    What I like about this broker is that each service is a ready-made investment or trading solution. If I want to start copying someone else's investments, I can use a robust and well-developed copying service. With its tools and functions. If I want to invest independently, I can use all the tools and functions of a retail investment broker. Each address has been prepared with detailed information and has high quality execution. Obviously, this broker has been operating for a long time and has experience in this field
    2024-02-04 18:31
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    Long8113
    0-3months
    The webinars provided on this platform can serve as a trading school! high-quality!
    2024-01-29 19:33
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    0
    0
    javier4819
    0-3months
    Although you have to have a considerable amount of money here as a starting point, it is totally worth it. If I'm honest, I don't trust brokers that lure you in with the smallest possible minimum deposit. It's a trap, guys. So I think Naga can be trusted.
    2024-01-27 13:20
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