About the company
Naga is a legal social trading platform that allows traders of all skill levels to share and duplicate techniques across more than 950 assets, such as forex, equities, and cryptocurrency. Yasin Qureshi and Benjamin Bilsky formed Naga Group AG in 2015. In 2017, the company held an initial public offering on the Frankfurt Stock Exchange, which raised $50 million in just a few months. The agency is based in Limassol, Cyprus, but it has 10 locations worldwide, including India, South Africa, and Mexico. The Cyprus Securities and Exchange Commission is in charge of the company’s regulation. The Financial Conduct Authority of the United Kingdom has granted the European organization a license.
How social trading works
Customers can communicate and share ideas with other members of the community through social trading. Investors can replicate and execute other users’ tactics. Beginners who want to learn the techniques and seek guidance from experienced investors would benefit from this trading strategy. A social trader can watch other traders’ holdings and techniques by subscribing to their channel. Users can then choose to have their bitcoin trades automatically copied, for example. Traders can continue to set their risk criteria and track portfolio performance in real-time, as well as invest and withdraw cash as needed.
- Forex – 48 major, minor and exotic currency pairs.
- Cryptocurrencies – 27 cryptocurrencies.
- CFDs – Over 400 CFDs on stocks.
- Commodities – 7 Commodities.
- Indices – 19 global indices.
- Stocks – Over 400 stocks.
- Futures – 12 futures.
- ETF – 17 ETFs.
Users can instantly copy other participants’ trades and set up price alerts immediately from a web browser using the company’s specialized platform. Several extra functions are available to users:
- Messenger for sharing analysis
- Rating of the best investors
- Personal account manager
- Copy-trading signals
- Market news feed
- Digital Wallets
Clients can also access the well-known MT4 and MT5 platforms, which are a favorite between the investors for a long time already.
On Naga, spreads vary, and most assets have no fee. For instance, typical spreads for GBP/USD are 1.8 pips, with a similar charge for indices. Only shares CFDs (0.20 percent) and ETFs are subject to a commission (0.10 percent ). For all replicated trades, the broker charges a fixed cost of €0.50. Furthermore, transactions with a profit of 5 euros or more are subject to a 5% surcharge. This clear charge structure makes it simple to keep track of copy costs.
In the “Trading Accounts” area, customers can check their user’s leverage. Due to legal constraints, retail clients’ leverage ranges from 1:1 to 1:30, based on the goods. Experienced traders, on the other hand, can contact support for odds up to 1:200.
Retail leverage limits for assets are as follows:
- Goods (except gold) – 1:10
- Major futures indices – 1:20
- Futures Commodities – 1:10
- Major forex pairs – 1:30
- Minor currency pairs – 1:20
- Other futures – 1:10
- Major Indices – 1:20
- Secondary indices – 1:10
- Promotions – 1:5
- Cryptocurrency – 1:1Gold – 1:20
- ETF – 1:5
Deposits and withdrawals
- Bank transfer (instant)
- Credit/Debit Card (Instant)
- Cryptocurrencies (instant)
- Alternative payment methods such as Skrill, and Neteller (instant)
A minimum deposit of $250 or equivalent is required for all options. The highest deposit amount is determined by the region in which you live.
If a withdrawal request is made outside of business hours, it will be handled the next business day. Naga imposes a $5 or similar withdrawal fee, with a $50 minimum withdrawal amount. NAGA Pay, the brokerage firm’s payment gateway, is also available. Investors can manage their cash and distribute them between investments and personal accounts with the help of a simple wallet.
A free sample account is available to potential customers. After signing up with Naga, you’ll automatically be given a test account with $10,000 in cash. You can use the simulator to familiarize yourself with the Naga platform and interface while also risk-free practicing your trading techniques.