EAs are programs that monitor and trade markets using algorithms. They find opportunities according to set parameters and then either create a notification or automatically open a trade. Signals in MetaTrader 5 allow users to automatically copy the activity of other traders in real-time. This feature allows traders to be updated when an instrument reaches a specific price level.
NAGA.com offers over 45 forex currency pairs, ETFs, index cfds, stock cfds, futures, commodities, bitcoin and other cryptocurrencies for your personal investment and trading options. These are especially important for beginners as they allow them to practice their strategies and get comfortable with the trading platform without risking any real money. With dedicated account managers, good customer service, and extensive educational materials, NAGA is a good fit for individuals new to the markets. NAGA can also cater to advanced traders with the algorithmic trading capabilities of MetaTrader.
Their company vision is to be the home screen app for finance for customers of tomorrow. Their revenues come mainly from spreads, commissions, copy fees, interest on margin lending , and multibank exchange group review other fees. At NAGA we strive to provide our traders with the highest standards of service excellence, ensuring that our clients remain satisfied throughout their trading journey.
As per our NAGA reviews, this website has high-performance standards, and it is more reliable as a public company. It complies with the necessary regulatory requirements that are set by MiFID. The trader’s funds are always isolated from the company funds and it is covered by a compensation plan in case NAGA brokers go bankrupt.
Overview of Trading Platforms
Currently, the platform is mostly a broker app which is focused on CFDs, and an alternative payments app with limited functionality. The main draw of the platform is the money traders can make when other traders copy their strategies, up to $150,000 a year. An example with the trader Alexherr is that he earns over $300k per week from his followers but he has $80k in open trades. So a copy trader who is told can earn $3k per week needs to have at least $80k in their account. The risk profile is very different – breakeven will take 6 months for a copier but for him 1.5 days.
This may impact how, where and which products / companies / services we review and write about. This page may not include all available products, all companies or all services. All withdrawals are processed by NAGA within 24 business hours. Yes, all withdrawals are subject to a $ 10 or equivalent fee with a minimum withdrawal amount of $ 50. It also provides an economic calendar from MetaQuotes that displays the date and time of upcoming global economic releases and market events. NAGA does not offer a bonus but offers awards depending on the level you have reached.
This includes the normal social features such as likes and followers, along with copiers. They provide customizable charts and educational tools for users with live accounts. Every time we messaged an assistant through the internal chat, we got a reply within 2/3h even through a phone call. Nonetheless, we know that customer service experience may differ widely, so be prepared to expect positive reviews and negative ones. To conclude, the MetaTrader 5 desktop platform is one of the most feature-rich and popular trading platforms globally.
Withdrawal requests takes only one business day to be processed by NAGA, if it was submitted prior to the conclusion of working hours. Although, NAGA doesn’t charge deposit fees, a standard withdrawal fee of $5 is applied. In addition, all costs and spreads between the master account and copy account will be calculated automatically when using social trading.
Is Naga a Legit Broker?
Just saying it appears like that wouldn’t happen with you guys. To bad though cause investing with you was what I really wanted to do. The withdrawal fees start at $5 but can fall as low as $0 based on your account balance. NAGA covers all the bases with their educational materials, ranging from webinars to courses and one-on-one tutoring. The material spans written and video content and is suitable for both beginners and experienced traders. We judged NAGA to be above average for the industry in this category.
Who is king of Nagas?
Adishesha also called as Sheshanaga is the king of nagas. Puranas mention Adishesha as the one who holds all planets and universe on his hoods and sings glories of Lord Vishnu. He is often depicted resting on Shesha.
Once your account has passed verification, you’ll then need to add funds to your account. This can be done via a variety of methods and accounts can be funded with either fiat or cryptocurrency if you are using NAGA Wallet. As with any reputable broker, NAGA places a great emphasis on the security of its users and their data. As the platform operates in Europe, it is subject to strict GDPR regulations and the site itself is encrypted with the latest protocols.
NAGA Markets Europe LTD does not provide investment and ancillary services in the territories of third countries. In 2017, the company completed its initial public offering on the Frankfurt Stock Exchange, making it the most successful one that year. It also issued its cryptocurrency, the NAGA coin, raising over $50,000,000 from more than 63,000 backers, resulting in one of the Top 50 initial coin offerings . NAGA offers an adequate range of educational materials, but these are not as good as the best brokers in this space.
On the downside, their real stock offering is not crystal clear and it has stopped offering commission-free real stock trading (see “Fees” section). I am very definitely a small time trader, but enjoy the Naga experience. NAGA offers MetaTrader4, MetaTrader 5, and the NAGA Markets web and mobile apps. A range of ebooks is available, explaining trading strategies and topics such as Japanese Candlesticks. NAGA assigns each client an account manager, and one-on-one tutoring is also available. We rate NAGA as above average for the industry with its solid and broad range of educational resources.
Naga covers all deposit fees regardless of the method you choose for money transfers. Naga does not have a minimum deposit requirement, but as the broker notes, most new traders make deposits starting at $200 to test out Naga’s terms and gain exposure to practically any market. Also keep in mind that there can be a minimum transferable amount legacyfx review required for each payment option. Join our stock & crypto trading social network with over 1 million users. Copy other traders fully automatically with a free account and over 1,000 tradable markets. The CySEC Regulated Forex broker is trusted by traders all over the globe for its security of funds, customer services and fast execution.
The company offers traders the option to use either MetaTrader4, MetaTrader5, or the proprietary software NAGA Web platform together with its applications. A platform can be a multi-asset one, which means that it allows clients to not only trade forex but also other asset classes like CFDs on stocks, stock indices, precious metals, and cryptocurrencies. Forex brokers tend to travala binance lure new traders with offers of attractive deposit bonuses. This can be useful, but it is essential to discern what a proper bonus is. Margin is the amount of money required in your account in order to open a position. Margin is calculated based on the current price of the base currency against USD, the size of the position, and the leverage applied to your trading account.
The user can stay updated about all the trading activities through the ‘news and app feed’ feature. Through this feature information about stocks, new trends on the social trading network, tips on the trading decision making, and overall mass trading inclinations. As per our NAGA review, the most important feature of NAGA is, it offers negative balance protection for its traders.
These accounts are offered by various online trading platforms, including stock trading platforms, foreign exchange trading venues, and commodities exchanges. Forex brokers are also known as retail forex brokers or currency trading brokers. Retail currency traders in turn use these brokers to gain access to the 24-hour currency market for speculation purposes.
Spreads, fees, and market hours are covered on the Market Hours and Trading Fees page. The Terms of Business can be found on the Regulation and Licensing page. NAGA Global LLC is registered with the Saint Vincent & the Grenadines Financial Services Authority . When choosing a broker, trustworthiness is one of the most important things to keep in mind. Always check the broker’s regulations, know how financially secure the firm is, and find out whether the broker is transparent and reliable. These factors, calculated into our score, will help you understand if your money is safe.
I am new in the platform and i am
This feature allows traders to execute orders with a single click and no secondary confirmation. Placing a trade with a single click saves time and is especially useful for short-term traders. Yes, NAGA offers a good trading environment for all types of traders, from beginners to advanced. Traders can see the currency that will be impacted along with the previous, forecast, or actual results of the releases.
The calendar displays the date and time of upcoming global economic releases and market events. You can see the currency that will be impacted along with the previous/forecast/actual results of the releases. Using this calendar can help as part of a fundamental analysis and keep traders up to date with the latest market movements. I always like to see what is happening in the markets as it can help me with making decisions. Depositing funds in the trader’s account is very easy and it is quick.
Overall, NAGA provides an average range of tradable assets, which should leave most professional traders satisfied. NAGA offers CFD trading on Forex, indices, shares, commodities, cryptocurrencies, ETFs, and futures . NAGA does not charge inactivity or deposit fees, but it charges relatively high withdrawal fees.
I have always received excellent support from them over the years we have been communicating. The fact that the new users can also gain the confidence of trading by copying trades from the established ones is a great way to encourage mass participation. This website includes information about cryptocurrencies, contracts for difference and other financial instruments, and about brokers, exchanges and other entities trading in such instruments.
Cyprus-based online broker NAGA Markets Ltd was founded in 2015 and is regulated and authorized by the Cyprus Securities and Exchange Commission. In a very short span of time, NAGA has emerged as a leading name in the ever-evolving area of social trading. This broker currently has more than 500,000 accounts, and its customers can invest in over 500 instruments, including cryptocurrencies, indices, forex, commodities, etc.
We are sorry to hear that you have been experiencing issues with our services. Please rest assured that our team will respond to you as soon as possible. Alternatively, please feel free to provide us with your NAGA account number at and we will pass this to our Support Team directly. PepperStone is a large and popular CFD broker, regulated by the ASIC Australia and the FCA in England. They offer Free Demo Accounts, very competitive spreads on Crypto and other assets, read more. You have plenty of companies you can compare, when it comes to social trading.