NAGA

Overview of NAGA

NAGA Group AG is a Germany-based company that operates in the financial market, specifically in the field of Market Making (MM). It has been regulated by the Cyprus Securities and Exchange Commission (CySEC) since June 2013, with the license number 204/13. While regulation provides oversight, it's important to note that NAGA's scope of business has raised some suspicions, indicating a medium potential risk associated with its operations.

NAGA offers a wide range of market instruments for trading, including Forex, Stocks, Indices, Real Stocks, Commodities, ETFs, and Futures. However, it's crucial to consider the potential risks involved when trading these instruments. The company provides different account types to cater to varying trading needs and preferences, with minimum deposit requirements ranging from $250 to $100,000. Traders can choose the account type that suits their investment goals, but it's essential to evaluate the associated risks.

NAGA provides multiple trading platforms, such as MetaTrader 4 (MT4), MetaTrader 5 (MT5), a web app, and mobile apps for iOS and Android devices. The company also offers trading tools like an All-In-One Calculator, an Economic Calendar, and an Earnings Calendar to assist traders in making informed decisions. Additionally, NAGA provides educational resources, including a blog and daily hot news, to help traders stay updated on market events.

Pros and Cons

NAGA is a regulated online trading platform that offers several advantages and disadvantages for investors. On the positive side, NAGA is regulated by the Cyprus Securities and Exchange Commission (CySEC), ensuring compliance and investor protection. The platform provides a wide range of market instruments, including Forex, Stocks, Indices, Real Stocks, Commodities, ETFs, and Futures, allowing investors to diversify their portfolios. NAGA also offers various account types to cater to different trading needs and preferences. Additionally, it provides multiple trading platforms, such as MetaTrader 4 (MT4), MetaTrader 5 (MT5), NAGA Web App, iOS App, and Android App, giving investors flexibility in accessing their accounts. The platform also offers useful trading tools like the All-In-One Calculator, Economic Calendar, and Earnings Calendar. On the downside, Wikifx claims that NAGA has no trading software, limiting its functionality. Moreover, advanced trading platforms or tools for specific devices or operating systems may have limited availability. Spreads on NAGA vary based on different market instruments, which could impact trading costs. Additionally, NAGA does not have a social media platform like Facebook mentioned in its features. However, NAGA does provide a demo account and offers leverage up to 1:1000 for the global market, allowing traders to test strategies and potentially increase their trading capital.

Is NAGA Legit？

NAGA, specifically Naga Markets Europe Ltd, is regulated by the Cyprus Securities and Exchange Commission (CySEC). It holds a license (No. 204/13) for Market Making (MM) activities. The company has been effectively regulated since June 20, 2013. The regulatory oversight provided by CySEC indicates that NAGA operates within the established guidelines and standards to protect the interests of investors and maintain market integrity.

Market Instruments

NAGA offers over 1000 market instruments for trading, including Forex, Stocks, Indices, Real Stocks, Commodities, ETFs, and Futures. Here's a brief description of each:

Forex: NAGA allows you to trade various currency pairs in the Forex market. Examples of currency pairs include USD/TRY, USD/HUF, GBP/CAD, GBP/PLN, NZD/CHF, NZD/JPY, and EUR/ZAR.

Stocks: NAGA provides access to a wide selection of stocks from different countries and markets. Some examples of stocks available for trading include Mastercard, Pfizer, Facebook, Freeport-McMoRan, Lam Research, Newmont, and Hewlett Packard.

Indices: NAGA offers the opportunity to trade popular stock market indices. Examples of indices available for trading include NAS100 (Nasdaq), AEX, SPX500 (S&P 500), CAC40, JPN225 (Nikkei), GER30 (DAX), UK100, US30, IBEX35, Euro Stoxx, SUI20, and Volatility Spot Index.

Real Stocks: NAGA enables trading of real stocks from various countries. Some examples of real stocks available for trading are 3M Co, AAC Technologies Holdings Inc, Aareal Bank, Abbott Laboratories, Aberc Fitch A, Acciona, Accor, Acerinox, Actividades de Construccion y Servicios, Activision, and Adidas.

Commodities: NAGA allows trading of commodities like natural gas (NATGAS), coffee, copper, and Brent Oil Futures.

ETFs: NAGA offers trading of Exchange-Traded Funds (ETFs), which represent a basket of securities. Some examples of ETFs available for trading include iShares MSCI Spain, iShares MSCI Pac EX-JP, iShares FTSE China 25, iShares MSCI EAFE, iShares Core S&P 500, SPDR DJIA, and iShares Global Energy.

Futures: NAGA provides the opportunity to trade futures contracts. An example is the WIG 20 Futures Index.

Account Types

NAGA offers various account types to cater to different trading needs and preferences.

IRON: The Iron account is the entry-level account with a minimum deposit requirement of $250. It offers standard spreads, such as EURUSD at 1.7 pips. Traders with an Iron account can earn $0.12 per copied trade for all CFD pairs and $0.50 per copied trade for FX pairs. They also have access to daily NAGA 5 trading signals and webinars.

BRONZE: The Bronze account requires a minimum deposit of $2,500. Similar to the Iron account, it provides standard spreads and offers slightly higher earnings per copied trade. Traders with a Bronze account earn $0.15 per copied trade for all CFD pairs and $0.60 per copied trade for FX pairs. They have access to daily NAGA 5 trading signals, webinars, and can benefit from ebooks and trade alerts.

SILVER: With a minimum deposit of $5,000, the Silver account provides improved features. Traders can enjoy Silver spreads, such as EURUSD at 1.2 pips. Earnings per copied trade are higher, with $0.18 for all CFD pairs and $0.70 for FX pairs. Silver account holders have access to daily NAGA 10 trading signals, webinars, ebooks, and trade alerts.

GOLD: The Gold account requires a minimum deposit of $25,000 and offers spreads, such as 0.9 pips on EURUSD. Traders with a Gold account earn $0.22 per copied trade for all CFD pairs and $0.80 per copied trade for FX pairs. They receive daily NAGA 15 trading signals, webinars, ebooks, trade alerts, and can benefit from one-time one-on-one tutoring.

DIAMOND: For a minimum deposit of $50,000, traders can open a Diamond account. This account type features diamond spreads, such as 0.7 pips on EURUSD. Earnings per copied trade are higher, with $0.27 for all CFD pairs and $1.00 for FX pairs. Diamond account holders receive daily NAGA 20 trading signals, webinars, ebooks, trade alerts, and can benefit from two one-on-one tutoring sessions per month.

CRYSTAL: The Crystal account is the top-tier account with a minimum deposit requirement of $100,000. It offers VIP spreads, such as 0.7 pips on EURUSD. Traders with a Crystal account earn $0.32 per copied trade for all CFD pairs and $1.20 per copied trade for FX pairs. They enjoy daily NAGA unlimited trading signals, unlimited access to webinars, premium ebooks, trade alerts, and NAGA profile awareness boost.

The Demo account offered by NAGA provides users with access to a simulated trading environment where they can practice and familiarize themselves with the platform. Upon registration, users receive $10,000 in test funds to explore and test different trading strategies without using real money.

How to Open an Account？

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

1. Go to the NAGA website (www.nagatrader.com or www.nagamarkets.com).

2. On the homepage, click on the “Start trading” button.

3. You may be asked to provide your current country of residence.

4. After selecting your country, you will be directed to the registration page.

5. Fill in the required information, which typically includes:

1. First Name

2. Last Name

3. Email Address

4. Password (Ensure it meets the specified requirements, such as containing at least one number, one uppercase letter, and being at least 8 characters long.)

   6. Optionally, you may be asked to provide your phone number. Enter it using only digits and specify the country code.

   7. Once you have filled in all the necessary details, review the information for accuracy.

   8. If available, you may have the option to show or hide your password using the “show-pass-icon” symbol.

   9. After reviewing the information, click on the “Register” button or a similar prompt to proceed with the account creation process.

Leverage

NAGA offers different leverage options for its clients depending on their location and the entity they are trading with. For NAGA Markets Europe Ltd, the leverage is set at 1:30 due to the imposed limits by CySeC. On the other hand, NAGA Global LLC provides a higher leverage of 1:1000. These leverage ratios allow traders to amplify their trading positions, potentially increasing both potential profits and losses. It's important for traders to carefully consider their risk tolerance and trading strategies before utilizing leverage. For more information, you can contact NAGA at their phone number: [insert specific phone number here].

Spreads & Commissions

NAGA offers a range of spreads and commissions across its account types. Spreads vary, starting from 1.7 pips for the Iron account and decreasing to as low as 0.7 pips for the Crystal account on major currency pairs like EURUSD. The earnings per copied trade also vary, ranging from $0.12 to $0.32 for CFD pairs and $0.50 to $1.20 for FX pairs, depending on the account type.

Minimum Deposit

NAGA offers a range of account types with varying minimum deposit requirements, starting from $250 for the Iron account and going up to $100,000 for the Crystal account.

Deposit & Withdrawal

Deposit & Withdrawal Methods at NAGA:

Credit/Debit Cards:

NAGA offers various credit/debit card options for depositing funds into your account. These include Visa, Mastercard, Maestro, Diners, and Discover. There are no fees associated with using these cards, and the minimum deposit amount is $250. The maximum deposit limit varies depending on the country of residency. Deposits made through credit/debit cards are processed instantly.

Wire Transfer:

NAGA supports wire transfers through Eurobank, Astrobank, and Equals Money. There are no fees for wire transfers, and the minimum deposit amount is $250. The maximum deposit limit is not specified. The processing time for wire transfers is generally 2-5 business days, and these methods are regulated by the Central Bank of Cyprus and the Financial Conduct Authority.

Alternative Payment Methods:

NAGA provides a wide range of alternative payment methods, such as PayPal, P24, Ideal, Eps, Giropay, Skrill, Neteller, Sofort, NeoSurf, PaySafeCard, Alphabank, Euteller, Multibanco, MY BANK, and Open Banking. There are no fees for using these methods, and the minimum deposit amount is $250, although it may vary based on the country of residence. The processing time for these payments is instant. The alternative payment methods are regulated by the Central Bank of Cyprus and CSSF.

Direct Bank Transfer (SEPA):

NAGA supports SEPA Instant transfers through various banks, including SwedBank Lithuania, SEB Bank, Revolut Lithuania, Siauliu Bankas, OP, Nordea, Danske Bank, Saastopankki, S-Pankki, POP Pankki, Oma Saastopankki, and more. These transfers have no fees, and the minimum deposit amount is €250. The maximum deposit limit is not specified, and the processing time is 1-2 business days.

NAGA offers withdrawal options through various payment methods, including VISA, VISA Electron, MasterCard, Maestro, NETELLER, SKRILL, GiroPay, Klarna, EPS, Przelewy24, Eurobank, and KB. The minimum withdrawal amount is 50 EUR/USD/GBP/PLN, depending on the currency of the account. The withdrawal charges range from 0-5$/€, based on the VIP Level of the user.

Trading Platforms

MT4:

NAGA offers the popular MetaTrader 4 (MT4) trading platform, which is widely recognized and used by traders worldwide. With MT4, NAGA users can trade in a familiar environment while still benefiting from NAGA's unique features. The platform allows users to sync their trading activity to their NAGA profile, enabling others to copy their trades. MT4 on NAGA provides a customizable interface, 30 technical indicators, 31 graphing objects, and various order types and execution methods.

MT5:

For traders looking for more power and a broader range of instruments, NAGA also supports MetaTrader 5 (MT5). With MT5, users can trade not only Forex but also Real Stocks and CFDs on Futures. This platform offers comprehensive price analysis tools, algorithmic trading capabilities, and copy trading features. NAGA users can transfer funds between their accounts and utilize 38 technical objects, 44 graphing objects, six pending order types, and four order execution types on MT5.

NAGA Web App:

The NAGA Web App provides a way to access all of NAGA's features directly from a web browser. Traders can use the web app to perform tasks such as auto-copying trades and setting up price alerts. The platform offers a user-friendly interface and supports trading over 1000 instruments. The NAGA Web App combines the functionalities of various platforms supported by NAGA, providing a comprehensive trading experience.

NAGA iOS App:

For iPhone and iPad users, NAGA offers a trading app available for download from the App Store. The iOS app allows traders to access the NAGA platform on the go, providing a full-featured trading experience. Users can buy and sell instruments, utilize the auto-copy feature to follow top investors, and engage in chat conversations using NAGA Messenger.

NAGA Android App:

Android device users can download the NAGA trading app from the Google Play Store. The Android app offers the same comprehensive features available on other platforms, allowing traders to trade anywhere and anytime. Users can buy and sell instruments, auto-copy successful traders, and engage in chat conversations through NAGA Messenger.

Trading Tools

Trading Calculator:

NAGA offers an All-In-One Calculator that provides various types of calculations to assist traders in making informed decisions. The calculator allows users to choose from different calculator types, such as economic calendar, earnings calendar, and corporate actions & earnings calendar. These tools help traders stay updated on important events and make predictions regarding corporate actions and earnings projections. For example, users can search for specific companies, view the dates of upcoming events, and access summaries and currencies associated with those events.

Economic Calendar:

NAGA provides a real-time Economic Calendar, allowing traders to stay informed about market-moving events and releases. This tool is designed to help traders develop and execute their trading strategies based on upcoming economic announcements from around the world. By tracking and analyzing these events, traders can anticipate potential market movements and adjust their positions accordingly.

Earnings Calendar:

The Earnings Calendar offered by NAGA provides traders with valuable insights into upcoming earnings releases. This calendar allows users to stay updated on the earnings reports of various companies. Traders can search for specific company names, view dates, ticker symbols, and relevant currency information. By utilizing this tool, traders can stay informed about earnings announcements and incorporate this data into their trading strategies.

Educational Resources

NAGA provides a range of educational resources to assist traders in enhancing their trading knowledge and skills. These resources include:

1. Blog: NAGA's blog offers a variety of news, market insights, and analysis. Traders can stay updated on current financial market events, such as GDP surges, market dynamics, and other significant news that may impact trading decisions.

2. Daily Hot news: This feature provides a daily overview of key financial market events, allowing traders to stay informed about major happenings in the markets.

3. NAGA Learn: Traders can access free educational materials covering various topics such as forex, stocks, crypto, economics, technical trading, and chart types. The NAGA Learn section offers modules that cover the fundamentals of trading and different asset classes.

4. Glossary: NAGA's glossary provides traders with a comprehensive list of trading terms and definitions, helping them become fluent in the language used by traders.

5. eBooks: NAGA offers a rich library of eBooks covering different trading topics. Traders can learn from the best with eBooks on subjects like Japanese Candlesticks, popular trading strategies (both bullish and bearish), forex basics, trading tips and tricks, and technical analysis for moving averages.

6. Webinars: NAGA conducts webinars in multiple languages, covering a wide range of trading topics. Traders can participate in live webinars or access past recordings to gain insights into specific trading strategies, order placement, postman strategies, economic calendars, and more.

Customer Support

NAGA's customer support is readily available to assist you with any inquiries or concerns. If you cannot find the answer in their Help Center, you can contact them directly from Monday to Friday, between 07:30 am and 02:00 am EEST. Simply click on a flag on their website to access the contact details of their international support team, where you can either give them a call or engage in a live chat. For specific inquiries or complaints, you can reach out to them via email at support@nagamarkets.com. They aim to respond within 48 hours. Additionally, if you prefer to file a complaint, they provide a customer complaint form on their website, where you can fill in your details and describe the issue you are facing. The international phone number for their local office in Germany is +35725041410 (landline) or +35725041384 (fax).

Conclusion

In conclusion, NAGA Group AG, a company based in Germany and regulated in Cyprus, offers market making activities and a wide range of trading instruments, including Forex, Stocks, Indices, Real Stocks, Commodities, ETFs, and Futures. While NAGA is regulated and provides access to various trading platforms such as MT4, MT5, NAGA Web App, iOS App, and Android App, there are some potential disadvantages to consider. The scope of NAGA's business has raised suspicions, and there may be medium potential risks associated with trading on their platform. Traders should also be aware of the varying minimum deposit requirements and leverage options depending on their location and the entity they are trading with. Additionally, it is important to carefully consider the spreads and commissions associated with different account types. NAGA does provide educational resources and trading tools, including calculators, an economic calendar, and an earnings calendar, to assist traders in making informed decisions.

FAQs

Q: Is NAGA a legitimate company？

A: Yes, NAGA, specifically Naga Markets Europe Ltd, is regulated by the Cyprus Securities and Exchange Commission (CySEC) and has been effectively regulated since June 20, 2013.

Q: What market instruments can I trade with NAGA？

A: NAGA offers over 1000 market instruments, including Forex, Stocks, Indices, Real Stocks, Commodities, ETFs, and Futures.

Q: What are the different account types offered by NAGA？

A: NAGA offers various account types, including Iron, Bronze, Silver, Gold, Diamond, and Crystal, each with different features and minimum deposit requirements.

Q: How can I open an account with NAGA？

A: To open an account with NAGA, visit their website and follow the registration process, providing the required information.

Q: What leverage options does NAGA offer？

A: The leverage options vary depending on the entity you are trading with. For Naga Markets Europe Ltd, the leverage is set at 1:30, while NAGA Global LLC provides a leverage of 1:1000.

Q: What are the deposit and withdrawal methods at NAGA？

A: NAGA offers various deposit and withdrawal methods, including credit/debit cards, wire transfer, alternative payment methods, and direct bank transfer (SEPA).

Q: What trading platforms are available on NAGA？

A: NAGA offers MetaTrader 4 (MT4), MetaTrader 5 (MT5), NAGA Web App, NAGA iOS App, and NAGA Android App as trading platforms.

Q: What trading tools are provided by NAGA？

A: NAGA offers a Trading Calculator, Economic Calendar, and Earnings Calendar to assist traders in making informed decisions.

Q: Are there educational resources available on NAGA？

A: Yes, NAGA provides educational resources such as a blog, daily hot news, NAGA Learn modules, and a glossary to enhance traders' knowledge and skills.