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NAGA Review 2022 - The Good and the Bad

By Stefano Treviso , Updated on: Nov 08 2022.

NAGA in a Nutshell

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Majority of retail CFD accounts lose money.

🏛 Regulators CySec.
💳 Minimum Deposit ($) 250
💰 Payment Methods Credit Card, Debit Card, Bank Transfer, Neteller, Skrill, GiroPay, Klarna, EPS, Przelewy24, EuroBank, KB.
💵 Base Currencies 4 - EUR, GBP, USD, PLN.
📚 Assets Offered

🔹 Stocks 🔹 Stock CFDs 🔹 Currency CFDs 🔹 Commodities CFDs 🔹 Indices CFDs 🔹 ETF CFDs 🔹 Crypto CFDs 🔹 Future CFDs

💪 Retail Leverage 1:30
💪 Pro Leverage 1:500
✍ Custom Leverage No
🎲 Deleveraged Trading Yes
🎓 Demo Account Yes
💰 Commissions

Yes depending on asset (Eg: 0.99 € for real stocks in-and-out, $2.5 for Stock CFDs, etc)

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NAGA in 60 seconds

  • A comprehensive proprietary platform offering copy trading and real equities 
  • Over 1,600 financial instruments
  • An attractive payout structure for traders wishing to monetise their skills by being copied

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.

NAGA Full Review

Here’s what we’ll talk about during our review:

Is NAGA Safe?

NAGA is a regulated broker that holds only 1 financial license from the Cyprus and Securities Exchange Commission.

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

0

Other Licenses

1

Provided by
TheTradingBible.com

Learn More

Despite NAGA being below the industry standards of our preferred brokers in terms of regulation, they have an excellent point in their favour: being a publicly traded company in Germany under the stock ticker N4G.DE which makes them act with a high degree of caution and compliance with regulatory frameworks.

We definitely look forward to NAGA acquiring new financial licenses from our top-tier regulators list.

NAGA Minimum Deposit and Withdrawal

Naga has a minimum deposit of $250 and they accept the following payment methods:

  • Credit Cards
  • Debit Cards
  • Bank Transfers
  • PayPal
  • Skrill
  • Neteller
  • PaySafeCard
  • GiroPay
  • EPS
  • Prezelewy24
  • KB
  • Euteller
  • Neosurf
  • MyBank

Bear in mind that it's possible that not all payment methods are available in your location. You must always check before depositing which methods are allowed in your country.

Base currencies

NAGA supports the following base currencies:

  • Euro (EUR)
  • Great British Pound (GBP)
  • United States Dollar (USD)
  • Poland złoty (PLN)

NAGA Account Types

NAGA has quite a lengthy account offering, let's go over the basics offered on each account:

Note: Copy Premium means the money that a trader can potentially earn when someone copies his trades (it's not a cost for the trader).

IRON

  • Minimum deposit of $250
  • Standard Spreads (eg: from 1.7 Pips in EUR/USD)
  • Copy Premium on All Instruments ($0.12 per copied trade)
  • Copy Premium on NGC Trading Account ($0.22 per copied trade)
  • Copy Premium on FX Pairs ($0.50 per copied trade)
  • Copy Premium on Popular Assets ($0.50 per copied trade)
  • Withdrawal Fee of $5
  • 5 Daily NAGA Trading Signals

BRONZE

  • Minimum deposit of $2,500
  • Standard Spreads (eg: from 1.7 Pips in EUR/USD)
  • Copy Premium on All Instruments ($0.15 per copied trade)
  • Copy Premium on NGC Trading Account ($0.26 per copied trade)
  • Copy Premium on FX Pairs ($0.60 per copied trade)
  • Copy Premium on Popular Assets ($0.60 per copied trade)
  • Withdrawal Fee of $4
  • 5 Daily NAGA Trading Signals

SILVER

  • Minimum deposit of $5,000
  • Standard Spreads (eg: from 1.7 Pips in EUR/USD)
  • Copy Premium on All Instruments ($0.18 per copied trade)
  • Copy Premium on NGC Trading Account ($0.32 per copied trade)
  • Copy Premium on FX Pairs ($0.70 per copied trade)
  • Copy Premium on Popular Assets ($0.70 per copied trade)
  • Withdrawal Fee of $3
  • 10 Daily NAGA Trading Signals
  • 2 One-on-one tutoring sessions per month

GOLD

  • Minimum deposit of $25,000
  • Standard Spreads (eg: from 0.9 Pips in EUR/USD)
  • Copy Premium on All Instruments ($0.22 per copied trade)
  • Copy Premium on NGC Trading Account ($0.42 per copied trade)
  • Copy Premium on FX Pairs ($0.80 per copied trade)
  • Copy Premium on Popular Assets ($0.80 per copied trade)
  • Withdrawal Fee of $2
  • 15 Daily NAGA Trading Signals
  • 4 One-on-one tutoring sessions per month

DIAMOND

  • Minimum deposit of $25,000
  • Standard Spreads (eg: from 0.7 Pips in EUR/USD)
  • Copy Premium on All Instruments ($0.27 per copied trade)
  • Copy Premium on NGC Trading Account ($0.55 per copied trade)
  • Copy Premium on FX Pairs ($1 per copied trade)
  • Copy Premium on Popular Assets ($1 per copied trade)
  • Withdrawal Fee of $1
  • 20 Daily NAGA Trading Signals
  • 7 One-on-one tutoring sessions per month

CRYSTAL

  • Minimum deposit of $100,000
  • Standard Spreads (eg: from 0.7 Pips in EUR/USD)
  • Copy Premium on All Instruments ($0.32 per copied trade)
  • Copy Premium on NGC Trading Account ($0.65 per copied trade)
  • Copy Premium on FX Pairs ($1.2 per copied trade)
  • Copy Premium on Popular Assets ($1.2 per copied trade)
  • No Withdrawal Fees
  • Unlimited Daily NAGA Trading Signals
  • Unlimited One-on-one tutoring sessions per month

NAGA Trading Fees

NAGA charges spreads, commissions, withdrawal fees and overnight fees. Let's take a look at each one of them:

Spreads

NAGA's spreads are competitive when it comes to stocks. On the other hand they charge commissions in-and-out of each trade and their currency spreads are higher than the majority of brokers in the same category.

Asset NAGA Pepperstone eToro
EUR/USD SpreadDynamic - From 1.7 PipsDynamic - From 0 to 0.77 PipsDynamic - From 1 Pip
SP500 SpreadDynamic - Market SpreadDynamic - From 0.4 to 1.5 PipsDynamic - From 75 Pips
Gold SpreadDynamic - From 36 PipsDynamic - Average 13.81 PipsDynamic - From 45 Pips
TSLA SpreadDynamic - Market SpreadDynamic - Market SpreadDynamic - From 0.09%
XLK SpreadDynamic - Market SpreadDynamic - Market SpreadDynamic - From 0.09%
BTC SpreadDynamic - From $130Dynamic - From $30Dynamic - From 0.75%

Commissions & Fees

Naga has charges specific commissions per asset category, here's how it compares to similar brokers:

NAGAPepperstoneeToro
Commissions

Yes depending on asset (Eg: 0.99 € for real stocks in-and-out, $2.5 for Stock CFDs, etc)

  • For Standard account : All fees included in the spread
  • For Razor account: From $7 per Lot round turn
None

When it comes to trading with NAGA, the low stock spreads won't be enough to offset the commissions being paid on each asset class and these commissions don't come at any benefit whatsoever which is the most common case in other brokers, they offer accounts with no commissions and higher spreads along with other accounts that have commissions and lower or no spreads.

NAGA Available Assets

NAGA's asset offering is considered to be a moderate one when compared to similar brokers, here's how it looks:

Asset NAGA Pepperstone eToro
Stocks70002000
Stock CFDs70013002000
Currency Pairs000
Currency Pair CFDs806047
Commodities000
Commodities CFDs43114
Indices000
Indices CFDs202513
ETFs000
ETF CFDs17100145
Cryptocurrencies000
Cryptocurrency CFDs372026
Bonds000
Bond CFDs000
Options000
Option CFDs000
Futures000
Future CFDs2200

Being a broker that wants to cater to real stock traders and copy traders we definitely believe that their stock offering should be higher.

NAGA Trading Platforms

NAGA offers the following trading platforms:

  • MetaTrader 4 (IOS and Android)
  • Metatrader 5 (IOS and Android)
  • NAGA's proprietary platform (Web, Android, IOS)]

Let's take a look at their proprietary platforms in more detail.

NAGA Mobile Trading Platform

NAGA's mobile platform is quite an interesting tool packed with many features, let's go over a few of its areas in more detail.

Mobile Home

The first area a user gets to see when successfully logging in is the TRADE section. Here users will be able to explore assets by certain custom or category-based filters and add them to their favourites list.

 

Asset View

When touching any asset, you'll land on the asset view.

Here you'll be able to open trades, monitor the feed (where associated discussions to each asset take place) and explore the full screen charting tools (by TradingView).

Order Placement

When touching any of the SHORT or LONG buttons, you'll enter the order placement panel.

NAGA uses two measures to place trades: 

  • Investment (total amount in Euros)
  • Lot Size (where 1 Lot equals $100,000)

What any professional trader knows as limit orders is called "Long or Short at specific rate" which can be accessed by touching any of the tabs that read the same text in the middle of your screen. 

At the end of the order placement panel you'll be able to set stop-loss or take profit orders using two measurements:

  • Total profit or loss amount
  • Specific rate (a specific price of the instrument you're trading)

Portfolio

The portfolio section (available by touching the bottom menu option) will give you a nice view of your active, pending and closed trades.

News

The news section is a mixture of information created by users that you follow, popular users and NAGA itself.

Overall, NAGA's mobile platform is well crafted and thought with simplicity for new traders.

NAGA Web Trading Platform

NAGA's web trading platform is the full featured one where the core activities can be performed, let's take a deeper look into it:

Web Home

The home section is where the main feed is displayed. It's made of posts by NAGA, popular traders or traders that you follow.

Naga Web Platform Home

Using the left menu you'll be able to access pretty much every feature of the platform.

Asset View

When clicking on an asset, you'll land on the internal view that offers you access to the trading charts, the feed (where discussions take place) and the asset placement window. Having TradingView charts is definitely a nice touch as they are the industry standard of the highest quality.

The order placement panel is an exact replica of the one in their mobile app so the most important thing to keep in mind is that everything operates in either Investment amount (total value in currency) or specific rates (prices).

Portfolio

The portfolio section is called "MyTrades" and can be found on the top menu of the app. At the time of writing this review and creating these images, their platform appeared to have an issue these this icons but hopefully you'll find them operational now.

The portfolio section will give you a simple and efficient look into your active, pending and closed trades.

News

The news section can be found inside the Market Buzz tab (not an efficient way to place it in our opinion).

Market Buzz will be explained further in our review as it belongs to research and analysis tools but the important thing to know is that when clicking on the NewsDesk tab, you'll be able to see news from various sources which is definitely a great touch.

Overall, NAGA's web platform is definitely packed with a lot of features catering to different types of traders.

Naga Copy Trading

CopyTrading on NAGA's platform is a well crafted experience. Let's go over a few important points to keep in mind.

User Profiles

Whenever you click the profile of any user you'll be able to see more detailed information about them. Pay close attention to the Feed, Stats and Trades tabs located on the right side of the profile picture.

The "Stats" tab will give you access to very important statistics about each trader. The first one will be the profit chart as seen below:

Right after, you'll get access to other interesting stastistics such as the Profits and losses of the trader's trades and the best return of investment on each trade.

Right after you'll be able to see more statistics such as the most frequently traded assets and the average profit per trade.

While all the above stats are "interesting" we don't find them that useful as they fail to disclose completely the real performance of a trader. 

In our opinion, it is as if we're trying to highlight with green numbers all the best possible achievements of each trader while not mentioning what goes wrong.

The last tab in the user profile called "Trades" is the most important one of them all (in our opinion). Here's why:

A few of the top traders at NAGA's platform have trading history on a daily basis but despite them having in some cases over 1,000 traders copying them, the average trade profit and loss is around $10 to $20 and the volume of the trade is of $1,000.

The issue with this is that even the top traders seem to be only small traders getting copied by a lot of people.

The real question here is, is this reliable? What about losses? Total account balances? Those are questions left to be answered by NAGA and the majority of copy trading platforms.

When exploring all the available traders at NAGA we found the following (which was quite distressing to be honest):

If there are no bugs or issues in the platform the above chart means the following:

  • This famous influencer is (and was) one of the most copied users on NAGA's platform
  • On average he's profiting 93.72% of times
  • On average, he generated a $1,285,274 LOSS for his copiers
  • His largest profitable trade was of barely $230 and his largest losing trade was of $80
  • The risk score of this trader is of 4 points out of 10

See where we're getting here?

When analysing a few of his trades, we see profits and losses ranging from $1 to $50 on average (at least from what we're available to see) excluding the top stats.

This means that if someone with a big account comes and copies this trades, that person is risking his fortune on the knowledge of a $50 per profit trader that may lose more for his followers than what he can generate in the end.

The reason for this is that statistically, an investor can copy a "profitable" trader at the right time and make a profit or by bad luck on the wrong time and make a loss. While the trader will still seem "profitable" the investor on the other hand can be at a massive loss.

When looking at other traders we also found more distressing information such as:

  • Being a top trader amongst the most copied with a maximum profitable trade of $250 with a maximum loss trade of $3,000 with a risk score of 5.

In conclusion, we believe the incentive here is to open as many trades as possible, small ones and hopefully in profits with the hopes of gaining a "profitable" status regardless of the real consequences behind this.

NAGA Research and Analysis Tools

NAGA offers a few beginner-level research and analysis tools, let's take a look at the first one: Market Buzz.

It's a visual representation that shows the amount of mentions that a particular asset had along with some extra settings to change the behaviour of the bubbles.

In simple words, it's a map that shows how much people are talking about something with some indicators of the positive or negative impact to be potentially experienced by an asset.

The other tool offered are signals by Trading Central, here's how they look:

While it's a nice touch to offer research and analysis tools like the ones above, it's 

 

NAGA Educational Tools

NAGA's educational tools are quite nice and entertaining while being conveniently placed on their platform. Currently, they offer:

  • Articles
  • Videos
  • Tutorials
  • Webinars
  • Seminars
  • eBooks
  • Trading Glossary

When compared to the majority of brokers, NAGA definitely has a great positive point by knowing where to conveniently place their educational tools to make them easily accessible for all users.

Verdict

NAGA is quite an interesting player in the financial services industry. Their offering seems as if it was crafted for an audience that expects simplicity yet their product is quite complicated and filled with excessive choices to make at every turn.

We can definitely congratulate NAGA on their platform design, their innovative ideas and the fact that they allow their users to purchase real stocks (depending on availability). On the negative side, there are too many difficult points that are worth considering in case you're planning to open an account with NAGA:

  • Overall exorbitant minimum deposit amounts to gain access to industry average benefits
  • The minimum deposit required to gain access to a EUR/USD spread of 0.7 Pips is $50,000 through the Diamond Account offered by NAGA. This spread is actually an industry standard in many brokers and offered for free
  • Costly commissions for stock trading when compared to other brokers
  • The risk score on their copy trading platform is not clear (we could not find a specific formula into how this is calculated, they only mentioned some of the elements used on their formula)
  • While their trading statistics are quite interesting and much better than other Copy Trading Platforms, they are still in the grey area (like the majority of them) where is not possible to actually judge whether a trader is worth the risk to follow or not

NAGA is definitely doing a great job by entering the major leagues in the financial services arena by offering real equities, copy trading and banking services. On the positive side we find their product offering to be a full suite of tools for all types of traders. On the negative side, we believe that if you're trying to build a copy trading platform, you should keep simplicity in mind and here's why:

  • Professional traders won't benefit much from your entry-level stock screener or simple tools, they can find it elsewhere and much better (such as TradingView)
  • Beginners can feel intimidated by the myriad of choices you display for them

Here's who we think can be best served by NAGA:

  • Professional traders looking to monetise their skills by being copied by other traders (assuming they're willing to sacrifice their own costs in spreads and asset availability in exchange for monetising via their audience)
  • Beginners looking to copy the transactions from other traders

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