Naga Markets review

Naga Markets is an established international Forex and CFD (Contracts for Difference) broker that was founded in 2009. The broker holds a license from the Cyprus Securities and Exchange Commission (CySEC) and adheres to the European Securities and Markets Authority (MiFID II) directives, ensuring compliance with regulatory standards. Naga Markets provides access to popular trading platforms such as MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Both platforms are highly reliable, but if you intend to trade various asset classes beyond forex, it is recommended to choose MT5. This platform is designed for trading not only currency pairs but also stocks, bonds, and futures. MT4, on the other hand, is primarily used for currency pair trading. Additionally, Naga Markets offers a custom-built app and web trading platform for added convenience. Hedging is allowed on MT4, providing traders with more flexibility in their trading strategies. The broker offers multiple channels for customer support, including live chat, email, and phone calls. The customer support team is available 24/5 from Monday to Friday, operating from 07:30 am to 02:00 am EEST. Naga Markets supports social trading, allowing traders to share ideas and results on the broker's social platform. Users can become signal providers or copy successful traders, creating opportunities for collaborative and interactive trading experiences. Account opening and verification processes are fully digital and user-friendly, streamlining the onboarding experience for clients. However, it's important to note that while Naga Markets is a global broker, there are restrictions on operating in certain countries. Residents of countries subject to global sanctions or those with stringent Forex trading regulations may not be able to open accounts with Naga Markets. Overall, Naga Markets offers a comprehensive trading experience with its regulated status, reliable platforms, social trading features, and accessible customer support. Traders can benefit from a user-friendly account opening process, although it is necessary to verify if their country of residence is eligible for account opening with the broker.