NAGA Group is an international financial technology (fintech) company listed on the Frankfurt Stock Exchange. In 2015 it launched Naga Markets as a trading brokerage. It is considered to be very forward-thinking, having developed several trading apps as well as a bespoke cryptocurrency (NGC). Headquartered in Limassol, Cyprus, NAGA Markets is regulated by the Cyprus Securities and Exchange Commission (CySEC). Although a popular broker in Europe, NAGA Markets does not provide services to Belgium. In addition, investors who live in North America, Cuba, Iraq, Iran, Japan and North Korea are not eligible to trade with the company.
- A wide range of tradable instruments
- NAGA Trader, plus MT4 and MT5
- Award-winning mobile app available
- Excellent customer service.
- 1. 1) Robo Advisor Trading Offer: Extensive range of tradable instruments
- 3. 3) Accounts: Does one size fit all?
- 4. 4) Trading Platform: Multiple operating systems supported
- 5. 5) Usability of the Website: Transparent and professional
- 6. 6) Customer Support: Benefits in line with account versions
- 7. 7) Methods of Payment: Flexible and fair
- 8. 8) Additional Offers
- 9. 9) Regulation & Deposit Protection: licensed by CySEC
- 10. 10) Awards: Positive achievements day to day
- 11. Conclusion: Innovative and trustworthy
Trader Rating Total
Shares, Commodities, Real Estate, Bonds, Money Market
1) Robo Advisor Trading Offer: Extensive range of tradable instruments
When making a broker comparison it soon becomes clear that some brokers select certain instruments to offer but ignore others. The NAGA Markets experience, however, is very different. The broker has a wide range of instruments, including CDFs, ETFs, stocks, commodities, forex currency pairs, indices and cryptocurrencies. A recent addition is the broker’s offer to trade in the gaming sector. For example, you can choose from an impressive 641 stock CFDs as well as 17 ETFs.
The brokers four commodities are crude oil, UK Brent, gold and silver. There are 20 futures indices and 11 index CFDs. Cryptocurrencies are also traded and as well as the usual offerings NAGA Markets has its very own decentralised cryptocurrency, NGC, so that you can invest and trade in cryptocurrencies, virtual goods and financial markets as you wish. You can also trade bitcoin, litecoin, NEO and Ethereum, as well and other well-known cryptos. Then there is the NAGA Markets virtual stock trading platform that allows you to monetise the time you spend playing your favourite games. This means you can buy and sell items from different games and platforms as well as trade them. This is a flexible platform that covers mobile devices, PC and games consoles.
- Lots of choices when deciding what to trade
- New opportunities to trade in the gaming sector
- Unique in-house cryptocurrency available.
3) Accounts: Does one size fit all?
NAGA Markets appears to take up an unusual position with the NAGA Markets brokerage accounts it offers in that it declares that a single type of account will suit all types of trading. Basically, the company is claiming that buying into this solo account allows clients to interact with the brokerage firm in a way that suits the client. The message is that this is better than imposing a variety of account systems and rules that may restrict individual client preferences. Having said that, the broker does distinguish between six different versions of the account, ranging from iron to crystal, depending on the size of the deposit made and yielding a range of benefits accordingly.
While this is the impression given by the broker website, NAGA Markets brokerage reviews indicate that accounts offered by the company include managed accounts, institutional accounts and swap free (Islamic) accounts. The broker’s single commission-free account type has floating spreads and leverage up to 1:30. NAGA Group also owns Hanseatic Brokerhouse, which also offers its clients a single account type with leverage up to 1:30. In this case, the broker has variable spreads and offers the option to trade in micro lots on the MT4 platform. Micro lots are smaller contracts than the standard forex size, allowing traders to be more flexible in their trading, and to diversify their portfolios.
- Singe account type
- Leverage up to 1:30
- Floating spreads
4) Trading Platform: Multiple operating systems supported
When you are considering which broker to use check out recent reviews as they will give you a good overview of the companies under consideration. Any decent robo advisor comparison will take into account the trading platforms offered by the brokers being compared, as this is central to your trading operations. The company has a bespoke NAGA Markets stock trading platform, NAGA Trader, and it also supports the popular range of MetaTrader platforms – MT4 and MT5 – as well as web trading and a mobile app, SwipeStox. With NAGA Trader, clients have access to a wide variety of traders. The NAGA Markets experience is such that you can follow, copy or even Auto Copy their trades. The platform allows traders to deposit money into their a personal account and to then place trades themselves.
Alternatively, you can allocate a certain amount of capital to another trader if you believe they will be more successful. The trades of the copied trader will then be automatically executed for you as you allocated your capital. A leaderboard ranks the most successful traders, and you can view their portfolios, trading history, and a selection of trading statistics. Every trader has access to a social news feed and can place their own trades with a variety of order types. The NAGA Trader platform also features a sophisticated charting package provided by TradingView.
- Multiple operating systems
- Trading App for iOS and Android
- Features a sophisticated charting package provided by TradingView
5) Usability of the Website: Transparent and professional
The NAGA Markets website is laid out in a clear and easily readable way, with basic information displayed on the home page and a drop-down menu as well as links to aid navigation. A white background and use of the accessible font Arial in black make it simple to understand the initial information given. The trading instruments available, the social trading platform on offer and the education facilities are highlighted, followed by links to specific assets, such as trading CFDs and forex. As a social trading platform, NAGA Markets’ website also provides links to social traders who can be followed and copied. The section about the company itself prioritises financial inclusion, customer service and NAGA Markets’ educational resources as being paramount. Setting out the company’s strategy, vision and values it’s clear that this broker loves innovation, accessible interactive resources and secure technology. This review of NAGA Markets finds that it may be thought of as the best Robo advisor around – or at least among the very best. Regulation information is available at the foot of the website pages, as is information on investing and client resources.
- Easy to use website
- Useful links to relevant material
- Clear details of tradable instruments.
6) Customer Support: Benefits in line with account versions
NAGA Markets certainly seems to care about their customers and to provide exceptional customer support experience. As a client, you can contact multilingual support representatives via telephone, live chat, and email 24 hours a day, 5 days a week. The languages supported are Czech, English, German, Greek, Italian, Polish, Portuguese and Spanish, You can also contact NAGA Markets via social media, including Facebook, Instagram and Twitter. In addition to these channels for support, clients can browse the extensive FAQ page on nagamarkets.eu for answers to a wide variety of queries. As well as detailing the hours of business for individual countries, the contact details include specific email addresses for the dealing desk – one for support issues and another for NAGA cardholders.
The NAGA card is directly linked to the user’s trading account and allows for fast and easy deposits and withdrawals. It is protected by robust security measures to make sure that all transactions carried out online are secure and effectively can be used anywhere you would use a MasterCard credit or debit card. The NAGA card is made available to clients holding particular types of accounts, including iron, bronze, silver, gold, diamond and crystal. The card is free to both diamond and crystal traders.
- Good access to support representatives 24/5
- Multilingual help
- NAGA card available.
7) Methods of Payment: Flexible and fair
You can choose your preferred method to transfer funds to and from your trading account in USD, EUR, GBP and PLN. Payments are accepted via credit and debit cards, wire transfer and a range of alternative electronic payment methods. These include:
- Neteller (all)
- Skrill (all)
- giropay (USD, EUR)
- eps (USD, EUR)
- iDeal (USD,EUR)
- Przelewy 24 (USD, EUR, PLN)
- (USD, EUR)
The review of NAGA Markets notes a few things about payment methods. NAGA Markets does not accept any deposits from third parties. This means that you can only make payments into or from your trading account from an account that has the same name. Also, when it comes to withdrawals, NAGA Markets will only return withdrawals or refunds back to the same source of the original deposit. This is in order to protect all parties against fraud and to minimise the possibility of any money laundering and/or terrorist financing. NAGA Markets aims to complete all withdrawal requests within 24 working hours, however, once a withdrawal request has been submitted it will be instantly reflected in the client’s trading account as pending. Should you select an incorrect withdrawal method, the request will be processed according to the Withdrawal Priority Procedure, which is stated clearly on the NAGA Markets website.
- Deposits only from client named account
- Funds returned to the same account used for deposit
- Secure and speedy return of funds.
8) Additional Offers
At NAGA Markets the benefits of the NAGA Card are supplied free to holders of certain accounts, namely diamond and crystal traders. The platform NAGA Trader, allows clients to have access to a wide variety of trades. Every trader has access to a social news feed and can place their own trades with a variety of order types. The NAGA Trader platform also features a sophisticated charting package provided by TradingView.
Clients have the option to trade with the Naga-owned Hanseatic Brokerhouse, which has variable spreads and offers the option to trade in micro lots on the MT4 platform. Micro lots are smaller contracts than the standard forex size, allowing traders to be more flexible in their trading, and to diversify their portfolios.
Zero commission is payable on trading commodities, cryptocurrencies and Forex, as well as Futures (commodity and index) and cash. Customers of NAGA Markets can buy and sell items from different games and platforms as well as trade them, using a flexible platform that supports mobile devices, PCs and games consoles.
- Free NAGA Card to special category traders
- Sophisticated charting via TradingView
- Games trading offered.
9) Regulation & Deposit Protection: licensed by CySEC
The NAGA Markets brokerage is owned and operated by NAGA Markets Ltd. The company is based in Cyprus and located at 27 Spyrou Kyprianou, Mesa Geitonia, CY-4003 Limassol, Cyprus. The NAGA Group was founded in 2015, and some of the world’s largest and most respected investors and companies are shareholders. These include the Chinese multi-billion investment company, FOSUN Group; the German Stock Exchange (Deutsche Börse AG); and, the second oldest bank in Germany (founded in 1796) Hauck & Aufhaeuser. NAGA Markets has a cross-border license issued by the regulating body in Cyprus, CySEC, a member of the European Securities and Markets Authority (ESMA), which authorises the provision of services including investment advice.
NAGA is also registered in the European Union (EU) and a member of the ICF (Investor Compensation Fund). This fund aims to compensate clients who are covered for any claims arising from malfunction by a member in fulfilling its obligations. It makes no difference if that obligation arises from legislation, occurs as a result of the client agreement or happens due to wrongdoing on the part of the member of the Fund.
- Regulated and licensed in Cyprus and the EU
- Member of the Investor Compensation Fund
- Backed by prestigious shareholders.
10) Awards: Positive achievements day to day
Awards are a useful way of judging how a company is performing and to date, NAGA Markets is acknowledged as a safe and reputable online trading brokerage. Since its establishment in 2015, the company’s bespoke platform NAGA Trader has received several notable awards for its innovation in social trading. On its website, the company also showcases success for its mobile social trading app (SwipeStox GmbH) from the Digital Top 50 Awards in Europe as well as ‘Best of Show’ in the Finovate Europe 2016 awards. SwipeStox was also one of the winners in the Red Herring Europe 2017 awards and in the AtoZForex awards where it won ‘Best Social Trading platform’ also in 2017.
It is a positive sign that major awards are being made, given the fact that the company has only recently been founded. Certainly, it has made an impact in Europe, particularly for its innovative mobile app, which makes trading forex and other assets easy using a smartphone or other portable device. Many commentators expressing opinions in a review of NAGA Markets review are confident that the arrival of the NAGA card in 2018 marks another important milestone in the company’s development. It seems likely, therefore that more awards for excellence are not too far off, and that NAGA Markets will continue to go from strength to strength.
- Notable awards for the mobile app SwipeStox
- Accolades for best social trading platform
- NAGA card seems set for fresh awards in the future.
Conclusion: Innovative and trustworthy
To conclude this review of NAGA Markets, this broker is widely respected and highly regarded. Indeed, not only is NAGA Markets good, they may be said to be a leader in online brokers due to its focus on social trading via its own bespoke NAGA Markets stock trading platform. Clients can feel confident that their funds are in safe hands as NAGA Markets is closely regulated through CySEC. In addition, compensation is available should problems arise. One of NAGA Market’s chief strengths is that it has such an extensive range of asset classes available for trading, including everything you would expect, with a particular leaning towards cryptocurrencies. You can also trade forex, CFDs and ETFs. Clients additionally have access to stocks and commodities. NAGA Markets has developed new systems to allow clients to trade the gaming industry and has proved itself to be something of a leader in the industry in this field. With the addition of opportunities in gaming, NAGA Markets offers a good many opportunities to trade that are not always available from competitors. So there is good and not so good in the offering from NAGA Markets and you will find that some elements of the company’s pricing strategy compare favourably with other brokers, while some do not.
- Innovative developer
- Extensive range of asset classes
- Easy to use bespoke platform
- Award-winning mobile app
- Strong focus on cryptocurrencies.
- Expensive spreads compared to other brokers
- High minimum deposit unless the micro Iron Trader account is chosen.