What is NAGA TRADER？
NAGA TRADER is a trading platform that has been operational for between 2 to 5 years. It is registered in Germany, which is often recognized for having stringent financial laws and standards. Remarkably though, NAGA TRADER is currently non-regulated, which could potentially raise concerns for some traders and investors.
NAGA TRADER provides its clients with two of the most popular trading platforms in the forex industry – MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms allow traders to analyze financial markets, use trading robots, and get access to many advanced trading tools.
The broker offers customer support which can be contacted via phone at (+34) 911332462 or via email at info@nagabrokers.com.
Pros & Cons
Pros:
Various Market Instruments: The broker provides several types of market instruments to trade, providing a broad range to its traders.
Abundant Educational Resources: NAGA TRADER stands out with its strong emphasis on trader education. Their educational resources include a blog, daily hot news, a learning platform (NAGA Learn), a glossary, ebook resources, webinars, a currencies encyclopedia, and a currency converter. These tools can significantly aid traders, particularly those new to the field, in building their knowledge and improving their trading strategies.
Cons:
Non-regulated: NAGA TRADER is currently non-regulated. Trading with a non-regulated broker can carry a greater risk, as there may not be any regulatory oversight to ensure fair trading practices.
Relatively New Broker: Having been in operation for between 2 to 5 years, NAGA TRADER is relatively new in the field. As such, some traders might not be comfortable trading with them due to a lack of a long-standing track record.
Is NAGA TRADER safe or scam？
NAGA TRADER is currently not regulated by any known financial regulatory authority. It is essential for potential traders to understand that although regulatory status is not the sole indicator of a broker's security, not being regulated does mean there is no authoritative body ensuring fair trading practices or providing a clear route for redressal should disputes arise.
Market Instruments
There are 1000+ trading instruments available on NAGA, including:
Forex: This market involves trading currency pairs on the foreign exchange market.
Stock CFDs: Contract for Difference (CFDs) allows traders to speculate on the rising or falling of stock prices without actually owning the underlying stock.
Real Stocks: Here, traders can buy and sell actual stocks of companies.
Crypto: NAGA TRADER offers trading in various cryptocurrencies, which are digital or virtual currencies that use cryptography for security.
Indices: A popular form of derivatives trading, indices trading allows traders to speculate on the price movements in indices, which represent the value of a group of stocks from a particular countrys stock exchange.
Commodities: Commodities trading involves trading physical assets like gold, oil, cotton, coffee and more.
Futures: These are financial contracts obligating the buyer to purchase an asset (or the seller to sell an asset) at a predetermined future date and price.
ETFs: Exchange-traded funds are investment funds traded on stock exchanges, much like individual stocks.
Account Types
NAGA TRADER offers six different account types: Iron, Bronze, Silver, Gold, Diamond, and Crystal. Each account type requires different minimum deposits which range from 250 for IRON to 100,000 for CRYSTAL. The spreads get tighter as one moves up from the IRON account to the CRYSTAL account. The earnings from copied trades also increase as one upgrades the account type.
All account types, except for IRON, have access to the PI dashboard and daily NAGA trading signals. While all accounts have trade alerts and access to webinars, only GOLD and higher account holders have access to premium webinars and one-on-one tutoring. The withdrawal fees also decrease as one moves from the IRON account to the CRYSTAL account. Lastly, only DIAMOND and CRYSTAL account holders have access to premium profile awareness boosts and the holders of CRYSTAL accounts enjoy the highest benefits.
Plus, NAGA provides free demo accounts, enabling users to learn and practice trading strategies on their platform, offering a risk-free environment specially designed for newcomers to trading.
Trading Platforms
MT4: The MetaTrader 4 (MT4) platform is one of the most popular trading platforms available; known for its advanced charting tools, indicators, and comprehensive trading features.
MT5: MetaTrader 5 (MT5) is an upgraded version of MT4, offering more technical indicators, charting tools, and order types to give traders an edge.
NAGA Web App: This is a flexible platform people can access through web browsers on any device. It offers quick access to market data without requiring any downloads or installations.
NAGA iOS App: This is a mobile application suitable for iPhone and iPad users, providing on-the-go access to NAGA's trading services.
NAGA Android App: The Android counterpart of the NAGA mobile application, it offers the same convenient access to trading as the iOS app for users with Android devices.
Deposit & Withdrawal
This table provides information regarding the payment methods and associated conditions for depositing funds into a trading account. Credit/Debit cards such as Visa, MasterCard, Maestro, Diners, and Discover are accepted, with no fees charged. The minimum deposit is $250, with a maximum of $35,000 per transaction, and processing is instant. Another payment option is Wire Transfer via Equals Money. The fee, minimum deposit, maximum deposit, and processing time depend on the country of residency, with processing typically taking 2-5 business days.
Tools & Education
Tools:
Trading calculator: This allows you to calculate key details of your trades like margins, pip value, swap, and required margin before you make them.
Educational Resources:
Blog: Regularly updated with latest trading insights, news, and market analysis.
Daily hot news: A source for the most recent and important updates in the financial world.
Restricted Countries
NAGA Capital Ltd does not provide services for the residents of certain countries, such as Afghanistan, Albania, American Samoa, Anguilla, Australia, Austria, Barbados, Belarus, Belgium, Benin, Bermuda, British Indian Ocean Territory, Bulgaria, Burkina Faso, Canada, Cayman Islands, Central African Republic, Christmas Island, Cocos (Keeling) Islands, Congo, The Democratic Republic of the, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Falkland Islands (Malvinas), Finland, France, Germany, Gibraltar, Greece, Guam, Haiti, Heard Island and McDonald Islands, Hungary, Iceland, Iran, Islamic Republic of, Ireland, Isle of Man, Israel, Italy, Jamaica, Japan, Jersey, Korea, Democratic People's Republic of, Latvia, Libyan Arab Jamahiriya, Liechtenstein, Lithuania, Luxembourg, Mali, Malta, Montserrat, Mozambique, Myanmar, Netherlands, New Zealand, Norfolk Island, Norway, Palestinian Territory, Occupied, Pitcairn, Poland, Portugal, Romania, Russian Federation, Saint Helena, Ascension and Tristan Da Cunha, San Marino, Senegal, Serbia, Slovakia, Slovenia, Somalia, South Georgia and the South Sandwich Islands, South Sudan, Spain, Sri Lanka, Sweden, Switzerland, Syrian Arab Republic, Trinidad and Tobago, Tunisia, Turks and Caicos Islands, Uganda, Ukraine, United Kingdom and any other countries where the citizens have British proof of identity (i.e. British Virgin Island, Gibraltar, Isle of Man etc.), United States, U.S. Minor Islands, Vanuatu, Virgin Islands, British, Virgin Islands, U.S., Yemen, and Zimbabwe.
Conclusion
In summary, NAGA TRADER is an online trading platform registered in Germany, providing a wide range of trading assets including Forex, Stock CFDs, Indices, Commodities, Cryptocurrencies and ETFs, among others. NAGA TRADER additionally offers six types of trading accounts catering to different levels of traders from beginners to professionals.
While it operates with MetaTrader 4 and MetaTrader 5 and offers a broad selection of educational resources to its traders, potential customers should note that NAGA TRADER is non-regulated. Although it has an overall promising reputation with positive Trustpilot reviews, precautions need to be taken. Due diligence checks, understanding the trading conditions and the brokers regulatory status are advised before proceeding.
Q: What is NAGA TRADER's minimum deposit？
A: The minimum deposit varies depending on the account type, with the Iron Account requiring a minimum deposit of $250.
Q: Is NAGA TRADER regulated？
A: Currently, NAGA TRADER is not regulated by any known financial regulatory authority.
Q: What trading platforms does NAGA TRADER offer？
A: NAGA TRADER offers the popular MetaTrader 4, and MetaTrader 5 trading platforms. It is also available on the webpage, on Andriod and on IOS.
Q: Can I trade cryptocurrencies on NAGA TRADER？
A: Yes, NAGA TRADER does offer trading on various cryptocurrencies.
Q: What kind of educational resources does NAGA TRADER offer？
A: NAGA TRADER provides a host of educational resources including a blog, webinars, ebooks, a glossary, Forex encyclopedia, and a learning platform called NAGA Learn.
Q: Are there fees associated with depositing funds on NAGA TRADER？
A: There are no fees for depositing funds using credit/debit cards or through Equals Money, but check if your own bank has any charges.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
2024-02-07 14:00
2023-03-24 11:47
