Naga Markets review

Naga Markets

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.

Countries

Algeria, Andorra, Angola, Antigua and Barbuda +134 more

Regulations

CySEC

Account currencies

EUR, GBP, PLN, USD

Assets

CFDs on Stocks, ETFs, Energies, Futures, Indices, Precious metals, Soft Commodities, Stocks

Platforms

MT4, MT5, Custom

Deposit methods

Bank Transfer, Credit Card, iDeal, Multibanko, Neteller, PayPal, Paysafe, Sofort

Others

Segregated accounts, Copy trading, Demo account, ECN, Exotic Pairs, Expert Advisors, Fast withdrawals, Hedging allowed, High leverage, Micro Lots, Negative balance protection, PAMM, Part of compensation scheme, Provides webinars and seminars, Signals, Swap-free

Promos

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To cater to the diverse needs of traders, Naga Markets offers access to six different account types, each with varying minimum deposit requirements. The account types range from the basic Iron account with a minimum deposit of 250 USD to the high-tier Crystal account with a minimum deposit of 100,000 USD. The trading conditions differ significantly between these account types.

For example, the spreads on EUR/USD for Iron account holders start from 1.7 pips, while Crystal account holders enjoy spreads starting from 0.7 pips. In addition to tighter spreads, Crystal account holders also benefit from premium contests and Naga profile awareness boost, providing additional advantages.

Naga Markets provides a maximum available leverage of 1000:1, offering traders the potential for higher leverage ratios. Traders can open accounts in various currencies, including EUR, USD, GBP, NGC, and PLN. It is advisable to choose the account currency that aligns with your frequently used currency to avoid conversion fees.

The broker offers access to a wide range of tradable instruments, including 49 currency pairs, 303 CFDs on Stocks, 370 shares, 33 crypto derivatives, 15 indices, and 5 commodities in precious metals and energies. Additionally, Naga Markets provides opportunities for trading futures and ETFs (Exchange Traded Funds). Notably, crypto trading is available 24/7, allowing traders to engage in cryptocurrency trading at any time.

Overall, Naga Markets offers a comprehensive selection of account types with varying trading conditions and benefits. Traders can choose the account type that best suits their preferences and trading goals. With access to a wide range of instruments and the availability of crypto trading around the clock, Naga Markets provides ample opportunities for traders seeking diversified trading options.

FAQs about Naga Markets

Is Naga Markets legit?

Naga Markets is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC). In addition, the broker follows the Markets in Financial Instruments ('MiFID') directive 2004/39/EC, that was created to protect the interests of financial investors and traders in the European Union. Because Naga Markets is licensed under reputable regulators, we can safely say that the broker is trustworthy.

What is the minimum deposit for Naga markets?

Naga Markets offers 6 live account types, and minimum initial deposit requirements are different for each. To open the Iron account type, you will need to deposit 250 USD. Deposit requirements go up to 100,000 USD as you go from basic to VIP accounts. The most popular Naga Markets trading account type is Gold. To open the Gold account, you will need to deposit 25,000 USD or more.

Is Naga a good broker?

Naga Markets is an average broker. The broker offers various account types, and available tradable instruments are over 1000, however, trading fees are average, and on Iron account start from 1.7 pips on EUR/USD.