OctaFX
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Vs.

NAGA
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75.63% of retail CFD accounts lose money.

OctaFX Vs. NAGA - Compare and Choose the Right One

Updated May 13 2022

Visit

Your capital is at risk.

Visit

75.63% of retail CFD accounts lose money.

Overview

OctaFX is an international FX broker operating as an incorporated company from St. Vincent and the Grenadines specialising in currencies trading via MetaTrader 4 & 5.

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.

Best For
  • Traders looking for a high leverage off-shore broker
  • New traders looking to experiment using MT4 & 5 with a no commission low-cost broker
  • Beginners looking to explore copy and social trading in detail
  • Passive investors looking to buy real stocks or ETFs
Licenses

Financial
Licenses

Regulation

Unregulated

Top-tier Licenses

0

Other Licenses

0

Provided by
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Financial
Licenses

Regulation

Regulated

Top-tier Licenses

0

Other Licenses

1

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators
  • Not regulated, Registered in St. Vincent and the Grenadines under IBC 19776.
  • CySec (Cyprus)
The Good
  • High leverage offered due to no regulatory restrictions
  • MetaTrader 4 & 5 platforms with their own copy trading integration
  • Low minimum deposit
  • 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
The Bad
  • Despite having financial licenses, OctaFX does not operate using them, meaning that they are an unregulated broker.
  • Their asset offering is extremely limited (80 instruments)
  • 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
Status
Operational Operational
Recent News
N/A N/A
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
2011 2015
💳 Minimum Deposit
$25 $250
💰 Payment Methods
  • Visa
  • Mastercard
  • Maestro
  • Skrill
  • Neteller
  • Bitcoin
  • Ethereum
  • USDT (Tether)
  • Litecoin
  • Dogecoin
  • Bank Transfer
  • Visa
  • Mastercard
  • Neteller
  • Skrill
  • GiroPay
  • Klarna
  • EPS
  • Przelewy24
  • EuroBank
  • KB
💵 Account Base Currencies
2 - EUR, USD.

4 - EUR, GBP, USD, PLN.

🗽 Available to U.S Citizens
No No
❌ Restricted Countries
US, CA.

US, CA, SY, IR.

📊 STP Account
Yes No
📊 DMA Account
No Yes
📊 ECN Account
Yes No
Assets
📚 Available Assets

CFDs on currencies, commodities, indices and cryptocurrencies.

  • Real Stocks and ETFs
  • CFDs on currencies, commodities, indices, futures, cryptocurrencies, stocks and ETFs.
📙 Stocks
N/A 700+
📘 Currency Pairs
35 80+
📗 Commodities
5 4
📕 Indices
10 20+
📔 ETFs
N/A 17
💸 Cryptocurrencies
30 37
📒 Bonds
N/A N/A
📓 Options
N/A N/A
📗 Futures
N/A 22
📝 Notes:

All of OctaFX’s assets are CFDs.

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

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

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

💰 Commissions
No

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

Spreads
📈 EUR/USD
Dynamic - From 0.6 Pips Dynamic - From 1.7 Pips
📉 SP500
Dynamic - From 20 Pips Dynamic - Market Spread
📈 GOLD
Dynamic - From 180 Pips Dynamic - From 36 Pips
📉 TSLA (Stock CFD)
N/A Dynamic - Market Spread
📈 XLK (ETF - CFD)
N/A Dynamic - Market Spread
📉 BTC
Dynamic - From $57 Dynamic - From $130
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No No
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
No No
📡 Reuters Feed
No No

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