NAGA
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Majority of retail CFD accounts lose money.

Vs.

LegacyFX
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77% of retail CFD accounts lose money.

NAGA Vs. LegacyFX - Compare and Choose the Right One

Updated Jul 12 2022

Visit

Majority of retail CFD accounts lose money.

Visit

77% of retail CFD accounts lose money.

Overview

Naga is an international broker belonging to the NAGA Group A.G, a publicly listed company in the Frankfurt stock exchange. Their specialty is social and copy trading of both real stocks and ETFs along with CFDs on all major asset classes.

Legacy FX is a cypriot broker founded in 2017 that specialises in CFDs trading via MetaTrader 5 for mobile, web and desktop devices.

Best For
  • Beginners looking to explore copy and social trading in detail
  • Passive investors looking to buy real stocks or ETFs
  • Traders looking for a CySec broker that offers a trading signals service
Licenses

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

0

Other Licenses

1

Provided by
TheTradingBible.com

Learn More

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

0

Other Licenses

2

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators
  • CySec (Cyprus)
  • CySec (Cyprus)
  • VFSC (Vanuatu)
The Good
  • Gamified social trading platform full of features and very responsive
  • Independent services such as cryptocurrency wallet or Naga Pay which provides a debit card and banking functionality
  • Proprietary signals channel (untested by us)
  • Fixed spreads (at their discretion subject to change)
The Bad
  • There is no way to easily understand which is the leverage factor being applied per asset
  • Asset offering is not that comprehensive when compared to similar competitors
  • An overall feeling of playing a game in a fun-app
  • High minimum deposits (From $500 to $25,000) for their various account types
  • Extremely high spreads when compared to similar brokers
  • Low asset offering with poor categorisation
  • Subpar regulatory framework
  • Only MT5 platform is offered
Status
Operational Operational
Recent News

No fresh news at the moment. Check again soon!

No fresh news at the moment. Check again soon!

Key Data
⌛ Account Opening Time
1 Day 1 Day
📋 Documents Required
  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

📍 Year Founded
2015 2017
💳 Minimum Deposit
$250 $500
💰 Payment Methods
  • Visa
  • Mastercard
  • Neteller
  • Skrill
  • GiroPay
  • Klarna
  • EPS
  • Przelewy24
  • EuroBank
  • KB
  • Visa
  • Mastercard
  • Neteller
  • Skrill
  • Klarna
  • iDeal
  • GiroPay
  • Perfect Money
  • AVOPayments
  • eftPay
  • Volt
  • Cash
  • Load
  • Jeton
  • Gigadat
💵 Account Base Currencies

4 - EUR, GBP, USD, PLN.

11 - USD, EUR, GBP, JPY, CHF, AUD, RUB, PLN, HUF, SGD, ZAR.
🗽 Available to U.S Citizens
No No
❌ Restricted Countries

US, CA, SY, IR.

US, CA, BE, FR, IL, IR, SY, AF, MM, SO, YE, IQ, SS, SD.
📊 STP Account
No No
📊 DMA Account
Yes No
📊 ECN Account
No No
Assets
📚 Available Assets
  • Real Stocks and ETFs
  • CFDs on currencies, commodities, indices, futures, cryptocurrencies, stocks and ETFs.

CFDs on currencies, commodities, indices, cryptocurrency and stocks.

📙 Stocks
700+ 200
📘 Currency Pairs
80+ 40
📗 Commodities
4 24
📕 Indices
20+ 18
📔 ETFs
17 N/A
💸 Cryptocurrencies
37 10
📒 Bonds
N/A N/A
📓 Options
N/A N/A
📗 Futures
22 N/A
📝 Notes:

NAGA provides either real stocks and ETFs along with CFDs on all major asset classes.

All of Legacy FX assets are CFDs.

Trading Experience
📈 Minimum Stock Trade Size
Varies per Stock N/A
📉 Minimum ETFs Trade Size
Varies per ETF N/A
📈 Minimum Crypto Trade Size
Varies per Cryptocurrency N/A
📉 Minimum FX Trade Size
$1,000 (0.01 Lots) $10,000 (0.1 Lots)
📈 Minimum Commodities Trade Size
Varies per Commodity $10,000 (0.1 Lots)
📉 Minimum Bonds Trade Size
N/A N/A
📈 Minimum Futures Trade Size
Varies per Future N/A
📉 Minimum Options Trade Size
N/A N/A
💪 Retail Leverage
Up to 1:30 Up to 1:30
💪 Professional Leverage
Up to 1:500 Up to 1:500
✍ Customisable Leverage
No No
🎲 Deleveraged Trading
Yes No
🎓 Demo Account
Yes Yes
📱 IOS App
Yes No
📱 Android App
Yes No
📺 MetaTrader 4
Yes No
📺 MetaTrader 5
Yes Yes
💻 Web trader
Yes Yes
💻 TradingView Platform
Yes No
💻 Proprietary Platform
Yes No
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
Yes No
👫 Social Trading
Yes No
🔑 Guaranteed Stop-loss
No No
🔨 Trailing Stop-loss
No No
Fees
💰 Inactivity Fee
No

Yes, 10 units of account base currency after 90 days of inactivity.

💰 Deposit Fees
No No
💰 Withdrawal Fees

Yes, from 0 to $5 depending on your account level.

No
💰 Commissions

Yes depending on asset (Eg: 0.99 € for stocks in-and-out)

Yes, ranging from 0.15% to 0.45% of trade value for stocks only.

Spreads
📈 EUR/USD
Dynamic - From 1.7 Pips Dynamic - From 1.6 Pips
📉 SP500
Dynamic - Market Spread Dynamic - From 120 Pips
📈 GOLD
Dynamic - From 36 Pips Dynamic - From 63 Pips
📉 TSLA (Stock CFD)
Dynamic - Market Spread N/A
📈 XLK (ETF - CFD)
Dynamic - Market Spread N/A
📉 BTC
Dynamic - From $130 Dynamic - From $505
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No No
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
No No
📡 Reuters Feed
No No