NAGA’s trading platform has been catching a lot of steam lately, with its userbase growing to over 1 million users. The company is known for pioneering some very innovative approaches to trading and introducing a variety of user-first features.

With that being said, many traders wonder if NAGA is the right platform for them to switch to, or start trading on. Today, we’ll be looking to answer that question. We’ll be looking at whether or not the company is trustworthy, supported countries, what you can trade, innovative features, and more.

What is NAGA?

NAGA is a fintech company based in Frankfurt, Germany. The company’s main goal is to provide an accessible way to trade for everyone. The company founders are Yasin Sebastian Qureshi and Ben Bilski- former professional swimmer turned entrepreneur. 

NAGA provides its users a user-friendly way to trade whatever they choose from NAGA’s selection of over 1000 assets. NAGA also provides tutorials on how to use the website and general trading guides on their website for free.

NAGA is a so-called “social” trading platform due to its community involvement and Autocopy feature. Traders can post publicly for their followers to look at their thoughts. Furthermore, the autocopy feature lets users automatically copy the trades of quality traders of their choice.

NAGA also provides a wide variety of withdrawal and deposit options. You can trade using MT4, MT5, NAGA Trader, or their mobile app. Personally, I’d go with either NAGA trader or the mobile app, as the interface is great and all of the graphs are crystal-clear

NAGA Fees Overview

Minimum Deposit	50USD or equivalent
Withdrawal Fees	0-5USD, varies based on VIP level. Upon the Payment department’s discretion, cryptocurrencies can have a withdrawal fee of around 12%.
Inactivity Fees	None
Deposit Fees	None
Copy Fees	0.99USD up to 10USD or an equivalent amount. All profits made at over 10USD have a 5% fee.
FOREX Trading	None
Indices Trading	None
Stock CFDs	0.20%
Commodities	None
Futures	None
ETFs	0.10%
Currency Conversion	None
Cryptocurrency	None

How To Start Trading On NAGA

Getting started with NAGA is fairly simple. The first step is to register your account, this involves simply giving your phone number, and email, and providing the site with a secure password to use for your account. Once that’s done, you’ll be able to access your demo account on which you can try trading with a $10,000 total.

We recommend using this demo account to get to grips with the interfaces and options on NAGA before you start trading with your actual funds. Once you’re done trading with the demo account, a KYC procedure will enable you to put real money into it.

Finally, all you need to do next is simply deposit money through any method accepted on NAGA(of which there are a lot.) With that being said, don’t forget that CFD trading comes with a lot of risks, so pay close attention to each trade you make.

NAGA is extremely user-friendly and offers excellent performance. Both their website and their mobile application are blistering-fast with a response time of 0.08 seconds. Furthermore, all trades are locked in when you click, so you won’t lose a trade due to connection issues.

The Autocopy Feature

NAGA’s Autocopy feature is what gives it the “social” trading platform tag. The feature lets you copy all of the trades a certain trader makes down to the smallest detail. This means that every time the trader you’re copying makes a trade, you’ll automatically make an identical trade. This is great for newer traders just starting out with the platform. However, it’s notable that this doesn’t erase the risk of trading CFDs, as you could be copying from a user with a high risk tolerance, a worse trader, or simply an unlucky one.

If, for example, your trader of choice made a trade on XRP/USD with a 5% profit, if you had autocopy set up, you would make the same profit minus NAGA fees. You can even set up your own Stop Loss and Take Profit measures so that you can customize your trading even while copying someone else’s trades.

Finding Leading Traders

The autocopy feature heavily relies on your ability to find the right traders you want to copy from. The way NAGA simplifies it is by providing you with a leaderboards system where you can see how traders stack up against each other. The leaderboards will display the top traders filtered by what they’re trading, the time period, or the profit they’ve made for their copiers. This allows users to filter out the lesser quality traders and only copy from those performing well.

When you open a trader’s profile, you can see all of the posts, announcements, and trading statistics from their account. You will also be able to see their risk score- a number representing how risk-averse or risk-prone the trader is.

Deposits And Withdrawals on NAGA

NAGA has a multitude of options available to you if you’d like to deposit or withdraw funds. These include Mastercard, Visa, wire transfer, and a variety of different crypto. Generally, funds will appear in only a few minutes, with that being said, wire transfers can take some time to get processed. You can also use the NAGA wallet and NAGA MasterCard for deposits and withdrawals.

Generally, withdrawals on NAGA are very quick, with most options available having a 1-day processing speed, some even occur instantly!

Is NAGA Safe To Use?

NAGA isn’t a regulated CFD broker. With that being said, it does provide its traders with a lot of documentation they can look at. This gives us a lot of faith in the brokerage, as they’re very transparent with their dealings. Furthermore, they’re backed and partnered with some large institutions, which gives it more legitimacy.

All things considered, NAGA looks to be perfectly safe to use, as it hasn’t been part of any security scandals in the 7 years since its founding.

NAGA Educational Opportunities

NAGA gives its traders a multitude of educational opportunities they can explore to get better as a trader. NAGA hosts weekly webinars for its users where traders on the more advanced side gather to discuss strategies, although newer traders can still pick up a thing or two.

They’ve also got a blog discussing all of the latest finance news, as well as a video catalog that shows you not only how to use the site but also teaches you some trading strategies. Finally, NAGA provides free eBooks written by Andreas Thalassinos on trading topics.

NAGA Customer Support

NAGA’s customer support is extremely quick to respond and helpful. In our testing, it takes them less than an hour to respond through chat, and you can also contact them by phone or email. They’re available Mon-Fri 9-24 EEST.

What Countries Does NAGA Support?

NAGA Supports most countries fully unsupported countries largely belong to FATF, UN, or any Delegated EU Regulation . Outside of this, 21 countries are only supported once the user has completed a due diligence program.

NAGA Unsupported Countries

NAGA doesn’t support a total of 24 countries, specifically:

1. Democratic Peoples Republic of Korea 
2. Canada
3. Sri Lanka
4. Belgium
5. Cuba
6. Trinidad and Tobago
7. Iran
8. Ethiopia
9. Tunisia
10. Israel
11. Guam
12. American Samoa
13. Iraq
14. Japan
15. Vanuatu
16. The USA
17. Serbia
18. Vietnam
19. U.S Minor Islands
20. Australia
21. Yemen
22. U.S Virgin Islands
23. Sudan
24. Syria

Necessary Procedure Supported Countries

1. Afghanistan
2. Ghana
3. Pakistan
4. Albania
5. Jamaica
6. Panama
7. Barbados
8. Libya
9. Senegal
10. Botswana
11. Mauritius
12. Somalia
13. Burkina Faso
14. Morocco
15. The Bahamas
16. Cambodia
17. Myanmar
18. Uganda
19. Cayman Islands
20. Nicaragua
21. Zimbabwe

If you’re a trader from one of the above countries, you’ll need to go through Enhanced Due Diligence Onboarding Measures. Generally, this means filing a KYC form and providing NAGA with a selfie of yourself holding your POI.

Should You Give NAGA A Shot?

All in all, NAGA is a very unique broker with some extremely innovative features. While the lack of U.S support or a welcome bonus can be disheartening, if you can look past them NAGA provides a lot of desirable features to enhance your trading experience.

For example, the autocopy feature is extremely useful, letting you copy the top traders in your field. The educational webinars, eBooks, and videos they provide for free are also quite high-quality and useful for traders new and experienced alike.

Outside of that, NAGA provides quick deposits and withdrawals, as well as low fees. Many things you can do on the platform have no fees associated with them at all. The UI is also great, however, it’s important to note that there’s always a risk when trading CFDs.

If you’re looking to get into trading CFDs, or you’re just looking to educate yourself about it, NAGA appears to be a great place to start.

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