Naga defines itself as a multi-asset neo broker, which is quite a mouth full. To break it down, in layman’s terms, a neo broker is a financial trading app that can be used by traders to access and trade stocks without paying any additional fees. Naga is, therefore, the online trading software that specializes in investments, cryptocurrency, and payments.
Over the years, Naga has steadily grown into an international juggernaut in the realm of online trading. Their reach spans four continents, 100 countries, and the service has well over 1 million clients. Based on this information, it is safe to say that they are one of the leaders in cryptocurrency and forex trade.
One key feature of the Naga trade platform is that they have a highly efficient shared wallet system that you will find very helpful when trading on many different accounts. What it does is brings all your different trade accounts onto the same platform, meaning you can easily switch from one to another without the hassle of login in and out time and time again.
An area in which Naga has truly excelled in the development of its sophisticated, reliable, and user-friendly mobile app. One look at the level of detail on the interface, and the ease of use, will convince why millions of users have chosen Naga as their gateway to the forex trading world. The images below will give you an idea of what trading on Naga will look like.
Is Naga a Good Option for you?
It is generally considered to be a reliable broker which puts your financial safety above all else. The risks associated with trading on Naga are low and the software is designed in such a way as to provide you with all the help you need when making your trade decisions. Naga also has SSL encryption on both its PC and mobile apps to ensure the safety and security of your personal info.
Is Naga Regulated?
The Naga group is a publicly listed company that is both licensed and regulated by CySEC, which is the Cyprus Security Exchange. All client funds are kept separate for Naga’s own portfolio and overseen by some of the largest banks in the European Union.
Naga is also part of the Naga Group AG, which is a finance technology company based in German which means it is also subject to regulation by the German finance authorities. The combination of these various regulatory bodies means Naga has a high level of security and stability.
As mentioned earlier, Naga oversees a wide range of trading platforms, like investments, cryptocurrency, and payments. All these platforms undergo constant and close scrutiny at all times due to the vast sums of money changing hands. This means when you register to trade on Naga, you can be sure that all your transactions are safe, secure, and transparent.
Who Is Naga Recommended For?
The way that the Naga software has been developed and integrated with its easy-to-use but the sophisticated interface, means that this app can be used by virtually anyone. It is straightforward to log onto naga.com and begin trading, so many beginner traders are comfortable using the platform as a place to learn and gain experience.
On the other hand, the system is also geared to handle and process large quantities of trade information daily. This is gold to an advanced trader and, when combined with the level of sophistication, Naga has proved itself as the ideal tool for serious traders. The shared wallet option is also a big hit among advanced traders who usually don’t have time to constantly switch from one app to another mid-trade.
The transition from beginner to advanced trader is seamless when one is using Naga. So, whether you are just starting out, or you have years of trade experience under your belt, there is no need to look for any other app except for the versatile Naga.
Pros and Cons of Using Naga
This review aims to help you get a clear picture of what Naga can and cannot do, to make your decision of which trade platform to use much easier. The following is what we think might be of some assistance to you:
Naga Trade Experience
To start with, the registration process could not be simpler. All you need to do is access the sign-in page through an access portal on the home page and from there it’s just a matter of filling in your personal details. There is no long waiting period either, once you have confirmed your details you will be able to begin your trading journey in no time at all.
When you make your initial deposit you will be pleasantly surprised that you are not charged any deposit fee. This is the same for all other future deposits you might make. The withdrawal process is different though because you will be asked to pay a withdrawal fee. Even that slight dampener is worth it considering how quick the withdrawal process is.
All trades are executed in real-time as quickly as you order them no matter how many accounts are running in your shared wallet. This is due to the efficiency of the Naga software and its state-of-the-art search engines. The fact that all these complex data operations are presented in an easy-to-understand interface is a testament to the attention to detail that went into the development of this app.
Naga also offers a selection of educational tools to help novice traders learn how to navigate the system and execute trades safely. Chief among these educational perks is the Naga Demo app which we shall discuss more about it a little later in the review. Other tools on offer include educational videos and a dedicated support staff who are available to answer questions around the clock.
Commissions and Fees
If the trader opts for social trading, the cost and spread of profit that is generated between the master account and copy account will be calculated automatically. The only cases in which commission is charged are when trading particular assets, but these will be clearly stated on the platform.
How To Open a Naga Account
The registration process has been made very simple, even for first-time users. You go to the Naga website and select sign up, after which you indicate your country of residence.
You will then be asked to fill in personal details and confirm your registration using the email address you provided.
The app will then ask you to complete and verify your personal information, which should not take long at all.
You then need to complete all relevant information as shown below.
Perhaps the most important part of the registration process is the Know Your Client verification stage. You will be requested to submit some documents for identification, and only after these have been processed and approved will you be allowed to go ahead and begin trading.
Naga Demo Account
A true revelation in the online trading community, demo accounts have helped many aspiring traders gain the necessary experience without risking large sums of money. This tool will enable you to mimic a real Naga account and experience how trading works. It even comes complete with a mock $10,000 initial deposit that you will use to conduct your demo trades.
The best aspect of the Demo account is that, even though the money is not real, the decisions you make will mirror real-world trading choices and you will be able to learn which choices are good and which are detrimental. What this means is that, when you finally feel like you are ready to start trading using real funds, you will be stepping into familiar territory, so you can hit the ground running.
This tool is not only for the beginner but for advanced traders as well. Even after years of trading, you might feel the need to change your strategy a bit. The best place to test your new ideas is within the safety of a demo account, where any miscalculations you would have made will not cost you a fortune.
Naga Educational Platform
Naga educational center is very sophisticated, offering, on average, 3 online webinars per week. The most common language of instruction is English, although webinars are offered in other languages too. Also on offer are the latest news and trends in the trade market and downloadable educational guides.
Two webinars available online can be very helpful to you if you wish to learn more about trading on Naga. One is on the official Naga website, and the other equally helpful video I on the YouTube channel.
Naga Customer service
Having heard so many great things about Naga in this review, it should not come as a surprise to you that their customer service is absolutely top-notch. They have a dedicated support team that is there to guide you every step of the way and are available at all times. For any questions or concerns, you can contact the Naga help center.
Frequently Asked Questions
|🤖 Demo Account||yes|
|💰 Leverage||Max. 1:1000|
|💰 Available assets||Over 950 tradable|
|📊 Minimum Trade On Stocks||$10|
|💳 Deposit Methods||Debit card, MasterCard, China Union Pay, Bank transfer|
|⚖ Regulation||Cyprus Security Exchange|
|🌎 Countries||All except USA, Canada, UK, Israel, and Iran|