Score

7.23 /10
Good

NAGA

Regulated in Cyprus

Market Making License (MM)

MT5 Full License

Global Business

High Potential Risk

Offshore Regulation

A

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Comparison

Quantity 15

Exposure

Time Machine
Website

Score

Regulatory Index7.93

Business Index8.38

Risk Management Index8.12

Software Index6.96

License Index6.92

The broker's WikiFX Score has been lowered due to a high volume of unresolved client complaints.
Time Machine
Website

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Broker Information

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Company Name

NAGA Group AG

Company Abbreviation

NAGA

Platform registered country and region

Cyprus

Company website

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Company summary

Pyramid scheme complaint

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WikiFX Risk Alerts
Previous Detection : 2026-09-23
  • WikiFX has recorded a total of 13 user complaints against this broker. Please be aware of the high risks and exercise extreme caution.

WikiFX Verification

Pyramid scheme complaint
Expose
Scam

Yesterday Wednesday September 9

Today Thursday September 10 I want to inform you that the two operations that the agent, who said his name is Jason, instructed me to do yesterday Wednesday 9, we did with raw materials, specifically with silver, XAGUSD, and a little later, when I checked the status of those operations in the application, I saw that they closed them 2 hours early. The amount they withdrew from my account was $702.50 + $197.70 = $900.20 USD. I am sending more images to show you that on September 7, 2026 I made a withdrawal request for $904.46 USD and then that request was canceled on September 9 by those people from naga. Thank you for your attention and support.

2026-09-11 01:00
Unable to Withdraw

Unable to withdraw/ Scam

I am filing this complaint against NAGA Capital for unjustified refusal to process withdrawals. My account was a Hedging account and traded normally for weeks. All trades were accepted, executed, and settled without warnings, restrictions, or violation notices. After profits were generated, all withdrawal requests were rejected and funds were returned to the trading account without explanation. NAGA Capital then: Terminated the account Alleged “market abuse” without technical or trade-level evidence Offered a partial USD 4,000 settlement, which I rejected Continued blocking full withdrawals while the balance remained visible Facts: Hedging was enabled and permitted No warnings or investigations during trading Previous withdrawals were successful No execution logs or latency data provided Current status: Balance: USD 12,680 Withdrawals rejected Funds blocked without justification

2026-01-17 01:56
Scam

Got cheated on prizes for both ipad and notebook. Broker doesn't give it.

I have participated in the event, and accumulated lots in June and July 2021, and I can do everything and trade according to conditions. The broker announced the winners, both ipads and notebooks with my name on them. The Naga employee said the reward will be delivered to your home. I waited until the end of August. Then, I asked the Naga staff for the reward and received the reply that the prize was delivered from the German headquarters. So I waited another 2 weeks to receive it. There are repeated requests within this period. Several times a month here, officials deflect their words. Taking responsibility between the office in Thailand and the head office and even I sent an email to the CEO in Germany. Quiet story. January 65 NAGA Announces Awards Cessation

2022-02-23 15:18
Scam

Scamers

I’m writing this review to warn others about what I experienced with NAGA, a company that claims to be a regulated trading platform but has shown nothing but dishonesty and unethical behavior. I had a verified trading account with NAGA, and after successful trading activity, I accumulated profits of over $80,000. When I submitted a withdrawal request, my account was suddenly restricted without any explanation. I reached out directly to NAGA’s CEO, Octavian Patrascu, and explained my situation in detail. Instead of helping me or escalating the issue, he blocked me – a shocking and unprofessional response from someone leading a supposedly regulated company. Customer support was no better. They kept spinning vague excuses and trying to justify withholding my profits, even though I never saw, accepted, or signed any bonus terms and conditions. These so-called rules were never displayed at registration or anywhere in my account.

2025-06-27 02:41
    NAGA · Company summary
    NAGA Review Summary
    Founded1996
    Registered Country/RegionCyprus
    RegulationCYSEC
    Market Instruments4,000+, forex, cryptos, shares, indices, ETFs, cryptocurrencies, commodities, futures, real stocks
    Demo Account
    Account TypeIron, Bronze, Silver, Gold, Diamond, Crystal
    Leverage/
    Spread1.1 pips (IRON account)
    Trading PlatformNAGA Web Trader, NAGA iOS, NAGA Android, MetaTrader, Telegram Mini App
    Copy Trading
    Minimum Deposit$10
    Customer SupportPhone: +2484671946
    Email: support.sc@naga.com
    Regional RestrictionsOffers services to residents within the European Economic Area, excluding Belgium

    NAGA Information

    Νaga Markets Europe Ltd (short for “NAGA”), founded in 1996, is an old brokerage registered in Cyprus. The trading instruments it provides cover forex, cryptoX, shares, indices, ETFS, cryptocurrencies, commodities, futures, and real stocks. Besides, it provides 6 types of accounts and is regulated by CYSEC.

    NAGA Information

    Pros and Cons

    ProsCons
    Regulated by CYSECNo live chat support
    Multiple trading instrumentsNo Islamic trading account
    Low minimum deposit of $10Demo accounts unavailable
    Six types of trading accountsRegional restrictions
    No deposit/withdrawal fees
    Competitive spreads and low trading fees
    Metatrader platforms provided
    Copy trading available
    Various payment options

    Is NAGA Legit?

    NAGA is regulatedby the Cyprus Securities and Exchange Commission (CYSEC). Its license number is 204/13 and the current status is regulated.

    Regulated CountryRegulated AuthorityCurrent StatusRegulated EntityLicense TypeLicense Number
    CyprusCyprus Securities and Exchange Commission (CySEC)RegulatedΝaga Markets Europe LtdMarket Maker (MM)204/13
    license

    What Can I Trade on NAGA?

    NAGA offers traders the opportunity to trade over 4,000 tradable assets, including forex, cryptos, shares, indices, ETFs, cryptocurrencies, commodities, futures, and real stocks.

    Tradable InstrumentsSupported
    Forex
    Shares
    Indices
    ETFs
    Cryptocurrencies
    Commodities
    Futures
    Bonds
    Options
    products

    Account Type & Spreads

    NAGA offers 5 different types of accounts to traders, which are Iron, Bronze, Silver, Gold, Diamond, Crystal.

    Account TypeIRONBRONZESILVERGOLDDIAMONDCRYSTAL
    Minimum Deposit$10$1,000$3,000$17,500$40,000$90,000
    EUR/USD Spread1.1 pips1 pip0.6 pips0.5 pips
    Account Types

    Trading Platform

    NAGA's trading platforms are NAGA Web Trader, NAGA iOS, NAGA Android, and MetaTrader, which can be accessed via PC, Mac, iPhone and Android devices.

    Trading PlatformSupportedAvailable DevicesSuitable for
    NAGA platformWeb, iOS, Android/
    MetaTrader 4PC, Web, MobileBeginners
    MetaTrader 5PC, Web, MobileExperienced traders
    Trading Platform

    Copy Trading

    NAGA's copy trading offers an opportunity to automatically follow good traders and monitor the markets. It created NAGA Autocopy — a tool that lets their clients manage their portfolio without the need to constantly monitor the markets. It charges fees for copy trading.

    Account TypeIRONBRONZESILVERGOLDDIAMONDCRYSTAL
    Copy Premium All instrumentsEarn up to $0.12 per copied tradeEarn up to $0.15 per copied tradeEarn up to $0.18 per copied tradeEarn up to $0.22 per copied tradeEarn up to $0.27 per copied tradeEarn up to $0.32 per copied trade
    Copy Premium FX PAIRSEarn up to $0.50 per copied tradeEarn up to $0.60 per copied tradeEarn up to $0.70 per copied tradeEarn up to $0.80 per copied tradeEarn up to $0.90 per copied tradeEarn up to $1.00 per copied trade
    Copy Premium Popular AssetsEarn up to $0.50 per copied tradeEarn up to $0.60 per copied tradeEarn up to $0.70 per copied tradeEarn up to $0.80 per copied tradeEarn up to $0.90 per copied tradeEarn up to $1.00 per copied trade
    Copy Trading

    Deposit and Withdrawal

    Deposit

    Deposit MethodMinimum DepositMaximum DepositDeposit FeesProcessing Time
    Visa$1035k per transaction0Instant
    Mastercard
    Maestro
    Diners
    Discover
    Equals MoneyDepends on the country of residency2-5 business days
    Deposit and Withdrawal

    Withdrawal

    Withdrawal MethodMinimum Withdrawal Withdrawal Fee
    VISAMin. $10 or equivalent to account currency0
    MasterCard
    Alternative Payment
    BIDV
    ACB
    EMIXM BANK
    DONGA BANK
    SACOM BANK
    TECHCOM BANK
    VIETCOM BANK
    VIETIN BANK
    BANGKOK BANK
    KASIKORN BANK
    KRUNGTHAI BANK
    KRUNGSRI
    GOVERNMENT SAVINGS BANK
    TMB
    SCB
    MAY BANK
    CIMB BANK
    HONG LEONG BANK
    PUBLIC BANK
    RHB
    AM BANK GROUP
    BCA
    MANDIRI
    BNI
    BANK BRI
    CIMB NIAGA
    Deposit and Withdrawal

    News

    ExposureNAGA Review 2026: Reported Deductions on Winning Trades and Withdrawal Issues

    NAGA, a Cyprus-based brokerage firm, received numerous trading allegations from users worldwide. These users have reported unfair deductions on winning trades, fund scams, and difficulties in accessing withdrawals. These negative NAGA reviews have become frequent on broker evaluation platforms such as WikiFX. In this article, we will look closely at the trading complaints while also keeping an eye on its regulatory status.

    WikiFX
    2026-09-21 19:20
    NAGA Review 2026: Reported Deductions on Winning Trades and Withdrawal Issues

    ExposureNAGA Review 2026: Regulation, Copy Trading, and Withdrawal Risks

    NAGA is a regulated broker offering advanced copy-trading tools and MT5, but recent severe user complaints regarding blocked withdrawals raise notable risk flags. Indian traders should exercise caution and verify account terms thoroughly before depositing large amounts.

    WikiFX
    2026-07-16 13:30
    NAGA Review 2026: Regulation, Copy Trading, and Withdrawal Risks

    ExposureIs Naga Regulated? Guide to Naga Regulation and Safety

    Verified Naga regulation details show CySEC and FSA oversight. Learn about the regulation Naga follows to ensure a secure NAGA Forex login and trading experience.

    WikiFX
    2026-04-28 16:20
    Is Naga Regulated? Guide to Naga Regulation and Safety

    NewsNAGA Sees 63% Revenue Jump in Q1 2022, Gains Estonia License

    The firm plans to separately report its financials of three divisions from next quarter.

    WikiFX
    2022-04-26 10:20
    NAGA Sees 63% Revenue Jump in Q1 2022, Gains Estonia License

    User Reviews

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    User comment

    158

    Comments

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    José Refugio Villegas Sánchez
    0-3months
    Hoy jueves 10 de Septiembre quiero informarles que las dos operaciones que el agente, quien dijo llamarse Jason me indicó hacer ayer Miércoles 9 las hicimos con materias primas, específicamente con plata, XAGUSD y un poco más tarde, al momento en que revisé en la aplicación el estado de esas operaciones ví que las cerraron 2 horas antes. La cantidad que extrajeron de mi cuenta fueron $702.50 + $197.70 = $900.20 USD. Envío más imágenes para mostrarles que el día 7 de Septiembre de 2026 hice la solicitud de retiro por $904.46 USD y luego esa solicitud fué cancelada el día 9 de Septiembre por esa gente de naga. Gracias por su atención y apoyo.
    Hoy jueves 10 de Septiembre quiero informarles que las dos operaciones que el agente, quien dijo llamarse Jason me indicó hacer ayer Miércoles 9 las hicimos con materias primas, específicamente con plata, XAGUSD y un poco más tarde, al momento en que revisé en la aplicación el estado de esas operaciones ví que las cerraron 2 horas antes. La cantidad que extrajeron de mi cuenta fueron $702.50 + $197.70 = $900.20 USD. Envío más imágenes para mostrarles que el día 7 de Septiembre de 2026 hice la solicitud de retiro por $904.46 USD y luego esa solicitud fué cancelada el día 9 de Septiembre por esa gente de naga. Gracias por su atención y apoyo.
    Translate to English
    2026-09-11 01:00
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    José Refugio Villegas Sánchez
    0-3months
    El día 7 de Septiembre solicité un retiro de mi cuenta por $904 dólares. Hoy miércoles 9 de Septiembre a la 1:59 pm recibí una llamada de uno de los agentes para decirme que había que hacer unas operaciones para recuperar las que tenía en pérdida por aproximadamente $200 dólares. Hicimos 2 operaciones y me dijo que íbamos a esperar para que se desarrollaran y que iba a llamarme hoy mismo. Son las 5:05 pm , menos de 3 horas y ya desapareció la mayor parte del saldo de mi cuenta, de$1125 dólares a 7 dólares. Después de todo quiero ver esto como algo positivo, pues insistieron en que hiciera una nueva inversión de al menos $2000 dólares y sin decirlo, no quise hacerla porque ya tenía desconfianza; si la hubiera hecho, esa cantidad y las posibles ganancias también habrían desaparecido. Hicieron eso aún estando regulados. QUÉ MÁS HARÍAN SI NO ESTUVIERAN REGULADOS?
    El día 7 de Septiembre solicité un retiro de mi cuenta por $904 dólares. Hoy miércoles 9 de Septiembre a la 1:59 pm recibí una llamada de uno de los agentes para decirme que había que hacer unas operaciones para recuperar las que tenía en pérdida por aproximadamente $200 dólares. Hicimos 2 operaciones y me dijo que íbamos a esperar para que se desarrollaran y que iba a llamarme hoy mismo. Son las 5:05 pm , menos de 3 horas y ya desapareció la mayor parte del saldo de mi cuenta, de$1125 dólares a 7 dólares. Después de todo quiero ver esto como algo positivo, pues insistieron en que hiciera una nueva inversión de al menos $2000 dólares y sin decirlo, no quise hacerla porque ya tenía desconfianza; si la hubiera hecho, esa cantidad y las posibles ganancias también habrían desaparecido. Hicieron eso aún estando regulados. QUÉ MÁS HARÍAN SI NO ESTUVIERAN REGULADOS?
    Translate to English
    2026-09-10 08:24
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