NAGA review and ratings

Established 2015
Location Cyprus Saint Vincent and the Grenadines
Regulation CySEC
Offices Limassol, Kingstown
Broker type STP
Leverage up to 1:500 (1:30 for EU clients)
Deposit from 50 USD
Spreads mid  mid
Platforms Web MetaTrader 4 MetaTrader 5 Specific Social Platform
Instruments Currencies Crypto Indices Metals Energies Softs Stocks ETFs
Funding methods Wire Transfer Credit Cards PayPal Skrill Neteller iDeal Sofort Bitcoin Bitсoin Cash Ethereum Liteсoin Dash Giropay

Company information

NAGA group includes 2 related companies.

NAGA Markets CY - located in Cyprus, regulated by the Cyprus Securities and Exchange Commission (CySEC).
NAGA SVG - legally registered entity located in Saint Vincent and the Grenadines, but not regulated by any government agency.

Be aware, CY company has some trading restrictions because of the European Securities and Markets Authority (ESMA) influence.
At the same time, SVG company accepts European traders, so one can open a trading account there.


NAGA group accepts clients from all over the world, excluding USA, Iran, Iraq, Cuba, Australia, Belgium, Canada, Israel, Japan, North Korea, Sudan, Syrian Arab Republic, Yemen, Ethiopia, Serbia, Trinidad and Tobago, Tunisia, Turkey, Vanuatu, Sri Lanka, US Minor Islands, US Virgin Islands.

Distinctive features

Trading instruments

Forex broker offers the following underlying assets for trading.

55+ Currency Pairs Based on major and minor world currencies.
45+ Crypto Pairs Based on Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Cardano, Chainlink, Cosmos, Dash, Dogecoin, Monero, Polkadot, Stellar, Siacoin, Tezos, Tron, Ripple, Zcash, EOS, IOTA, NEO, Uniswap, Kava, Filecoin, Solana, Chiliz, AAVE, Algorand, Paxgold, Bancor, Graph, Qtum, Mana, Flow, Compound, Dai, Sandbox.
15 Indice Cash CFDs Based on baskets of different blue-chip stocks snd Volatility Index.
5 Indice Futures Based on baskets of different blue-chip stocks.
2 Metal Spot CFDs Based on Gold and Silver.
1 Metal Future Based on Copper.
3 Energy Spot CFDs Based on Crude Oil (WTI, Brent) and Natural Gas.
3 Energy Futures Based on Crude Oil (WTI, Brent) and Natural Gas.
4 Soft Futures Based on Coffee, Corn, Soybean, Wheat.
450+ Stock CFDs Based on shares of US, UK, EU and HK companies.
500+ Real Stocks Real stocks of companies like Apple, Netflix, Tesla etc.
17 ETF CFDs Based on exchange-traded funds containing various tradable assets.

Comprehensive review

Set up in 2015 and currently registered and regulated in Cyprus, NAGA Markets is today a large forex & CFD broker with more than 750 trading instruments available for traders to choose from. Although it is heavily focused on the European market, NAGA is able to serve clients globaly, though they do it only through their unregulated Non-EU entity that operates in St. Vincent & the Grenadines (

Instead of offering different account types, NAGA categorizes traders into 6 “achievement levels” called Iron Trader, Bronze Trader, Silver Trader, Gold Trader, Diamond Trailer, and Crystal Trader. All of the achievement levels have their own set of requirements, ranging from things like the amount of money a trader has deposited into his trading account, to the number of open and profitable trades.

In addition, the broker has a focus on the social trading experience and so-called “copy-trading”. As a result of this focus, copy-trading is also a requirement to advance in the trader achievement levels, with both the number of traders you copy, and the number of traders that copy you, counting towards your advancement to the next level.

Besides the classic MT4 and MT5 desktop platforms (which are provided both by Cyprus and SVG entities), NAGA offers its own proprietary trading platform, known as NAGA Trader, to its clients. Although it has a very simplistic design similar to what can be found at other “social trading” brokers like eToro, the platform does a good job at what it is designed for. The almost game-like user interface makes the platform extremely easy to use, and it can probably be learned in a short time even for complete beginners.

The platform also includes very simple tools for risk management that automatically calculates relevant levels for things like stop-loss and take-profit, and comes with a negative balance protection system. NAGA Trader is web-based, and is also available in mobile versions for Apple and Android devices.

As already mentioned, the NAGA Trader platform offers a selection of more than 750 different trading instruments to choose from. Among these are more than 45 forex pairs, a range of popular cryptocurrency pairs, a large selection with hundreds of CFDs based on the stocks of major companies, as well as a selection of exchange traded fund (ETF) and commodity CFDs.

The broker does not charge commissions on trades, but the spreads are unfortunately not among the best in the industry, at an average of 1.2 pips on the popular EUR/USD pair.

NAGA accepts all the common methods for deposits and withdrawals, including bank transfers, major payment cards, and e-wallet services Skrill, Neteller, Giropay and even major Crypto coins. Unfortunately, however, the Cyprus entity (NAGA Markets) does not accept cryptocurrencies at this point in time.

For new traders interested in learning more about the forex markets, NAGA offers a very extensive library of educational webinars and video lessons that covers a variety of concepts related to trading. Live webinars are also announced in advanced and are open to the public to register for, it is worth noting that they are available in different languages. All old webinars are published on the broker’s YouTube channel for traders to watch at any time.

Finally, the broker offers 24/5 customer service in multiple languages via local phone numbers in 22 countries around Europe. In addition, traders are welcome to call the dealing desk in Cyprus directly for issues relating to trades and order placement – something we know many traders appreciate.

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