More and more investors are enjoying social trading these days. This is also offered at NAGA Markets. The company was founded in 2015, but now has offices around the world. Let's have a look at our Naga Markets review.
NAGA's major hobbyhorse is social investing, which allows even stock market laymen to participate in the profits of experienced traders at low cost. In our following NAGA Markets checks, we have gone into more detail about the NAGA Markets platform and have taken a close look at this online broker.
Pros and cons of NAGA Markets:
Low minimum deposit
No trading fees
Social trading allows to copy successful traders
However, additional fees for withdrawals
Get Started with Naga Markets
NAGA Markets Review - The online broker in test
NAGA Markets offers its customers a wide range of different trading options, which makes the online broker quite an interesting provider. In addition, this is a fully licensed provider where security and reliability are paramount.
Right at the beginning of our NAGA Markets experience, we could see that this provider has excellent trading opportunities to offer to new and existing customers and is especially ideal for customers who want to specialize more in social trading.
Our NAGA Markets test also showed that the online broker offers various cryptocurrencies as well as CFDs for trading in addition to traditional shares. Another plus point is that clients can copy other traders' trades and share their success for only a small fee.
Likewise, in our NAGA Markets experience, we have found that the entire Online Trading offer of this broker is also easily available in the mobile variant and can thus be used conveniently on the go.
Our Naga Markets user experience
The design is somewhat weaker in direct CFD broker comparison with other platforms, as it is kept quite simple and plain. However, according to our NAGA Markets test, this does not have much of an impact on user-friendliness. On the other hand, NAGA scores in the simplicity of operation and its beginner-friendliness. Thus, even for trading beginners it is possible to get to know and operate the platform with all its functions very quickly.
A big plus is that MetaTrader 5 is built in as the trading platform. This one as well as its predecessors have been appreciated for years, if not decades, as a very stable trading program. There dozens of different indicators from moving averages to MACD, volume, Fibonacci retracements and many others can be used for technical analysis.
In our Naga Markets test, we were also able to determine that the loading times are extremely short and that ideal conditions are offered for trading of any kind .At this point, Naga Markets already makes a very good impression in the test, as fantastic basic conditions are offered for all customers.
Die Geschichte von NAGA Markets
The company was founded in 2015 and has the stated goal of democratizing the markets, by which is meant giving everyone the easiest possible access to the financial markets. The company originated in Germany, where it was also listed on the Frankfurt Stock Exchange, but now has subsidiaries in several countries.
Meanwhile, NAGA's user numbers have grown to over 1,000,000, making it one of the largest social trading platforms in the world. During our NAGA Markets review, we found that the fintech company implements a lot of innovative ideas to make it easier for their clients to trade profitably on the markets.
NAGA Markets Test - All available trading options
In the following section, we would like to take a closer look at the trading options available at this online broker as part of our NAGA Markets experience and give you a rough overview of them.
In our NAGA Markets test, we were able to access far more than 750 different markets. Of course, the focus is on Forex and CFDs. In addition, however, at NAGA Markets you also have the option to access more than 11 different cryptocurrencies at any given time.NAGA Markets also offers many classic stocks for trading. At this point, it is particularly positive to mention that here neither additional fees for account management, nor other costs are estimated. Only the variable spread must be taken into account here. Also in our broker testswe were able to fall back on a similar offer.
Other special features in the NAGA Markets service
In our time with NAGA Markets, we have already found that this is an online broker that offers its customers a variety of different trading options. Here, every customer can always be sure that trading here is fair and safe - the aforementioned licenses and regulations speak for this.
Additionally, NAGA Markets offers clients a solid platform on which they can access top-notch tools such as MetaTrader 4 as well as MetaTrader 5. Also, within the framework of so-called social trading, the trades of experienced investors can be copied for a small fee in order to participate in their successful strategy. In addition, NAGA Markets offers an automatic stop-loss function, which again provides more security in trading.
Account types at NAGA Markets
Basically, there are 2 different account types at NAGA. For the vast majority of traders and investors, one account is of course the most important, namely the real money account. This is completely free and there is no opening account maintenance or inactivity fee. Therefore, in uncertain and highly volatile times, you can simply suspend trading until you feel more comfortable with the market situation again, without fear of paying on it.
In order to fully use the real money account, full identity verification is required in accordance with EU money laundering laws. Sounds complicated, but is actually quite simple, for this only a picture of the passport or identity card must be uploaded.
However, even before that, you can use a free and unlimited demo account for your first NAGA Markets experience, which is the 2nd account type. On this, the over 1,000 assets can be traded for free with €10,000 in play money. This can make sense both for beginners, to make their first risk-free stock market experiences, and as an experienced trader, to familiarize themselves with the platform first.
Naga Markets inspires with a large offer of cryptocurrencies
NAGA Markets has an excellent platform that offers a wide range of trading opportunities. In addition to all the classic investment options, customers can also access a wide range of different cryptocurrencies here.
Our NAGA Markets experience has proven that a total of 11 different cryptocurrencies can be traded here. Among others, all popular coins such as Bitcoin, Litecoin and Ethereum are represented.
According to our NAGA Markets review, there are no additional fees for trading cryptos for the client. The only thing to note is that there is a fee of €0.50 per copied trade for copying trades in social trading. Otherwise, however, no costs are passed on to the customer here.
Conditions for trading cryptocurrencies at Naga Markets
The only thing to note here is that a deposit of at least €250 must be made at the beginning before trading can begin. When withdrawing your winnings, you will have to pay a fee of 10€.
Naga Markets Cryptocurrencies Product Summary
In our NAGA Markets review, we could see that you can access a wide portfolio of virtual currencies with this provider and benefit from the high flexibility of the provider in this area.
Naga Markets Test: What are the costs and fees?
In order to provide you with the most accurate overview possible of the various online brokers, we have also taken a closer look at the costs at NAGA Markets. Here, we also take another close look at possible fees.
A definite plus point in our NAGA Markets experience is the fact that there are no additional fees for registering on the platform to begin with. Likewise, the account management is completely free of charge - similar to what we found on some of our other broker reviews in the past.
There are no additional fees for depositing to your personal account either. Here it is possible to use all listed payment methods. However, you should note that there is a €10 fee for withdrawals.
Those who wish to benefit from social trading at NAGA Markets must also reckon with a fee of €0.50 per copied trade. Overall, however, we have found in our NAGA Markets experience that the fees are quite manageable.
Deposit methods at NAGA Markets
In the course of our NAGA Market test, we naturally also tried out the deposit and withdrawal methods and put them through their paces. The social trading broker offers quite a few deposit methods, among others, money can of course be transferred using the most common payment methods such as credit card or Paypal. The transferred amount is available almost immediately and thus trading can be started without delay.
Alternatively, instant transfers via Skrill or Neteller are also available as well as a deposit via various eWallets. The minimum deposit amount for all different payment methods is 250 USD or an equivalent amount in another currency such as Euro. Thus, you can start trading with NAGA even with very small sums, a circumstance that should be very interesting especially for beginners. After all, every great trader started small once.
Very pleasing for investors is that without exception all deposit methods are completely free of charge for the customer, or any costs incurred are taken over by NAGA itself according to its own information.
Withdrawal methods and costs
Withdrawal at NAGA, as with any other reputable broker, can only be made to an account that is in the name of the client. Of course, this has security reasons on the one hand, but on the other hand also legal reasons, since the money laundering laws within the EU apply here.
The withdrawal only works from a minimum amount of €50 and there is actually a withdrawal fee here. This fee depends on the user level, so it costs €5 per transaction for the lowest level. At the 2nd highest level the fee is only 1 € and at the highest level it even becomes completely free.
Customer support at NAGA Markets
The customer support at NAGA is available in several different languages and proved to be very friendly, helpful and competent in our test. There are a few different options available for contact. You can either open a ticket, but if it is urgent, NAGA also offers the possibility to contact an employee directly via live chat.
A phone support is also available and it can be very helpful especially in case of verification problems or questions regarding deposits and withdrawals. However, these are extremely rare, as we found out in our NAGA Markets test.
NAGA Markets Review - Secure and reputable licenses
Is NAGA Market reputable? This is a question that every investor probably asks himself, or at least should ask himself, and this question can be answered with a resounding yes. NAGA is based in Cyprus, so the fintech company is supervised by CySEC and is subject to applicable EU law. It can therefore be stated that NAGA Markets is serious and works within the framework of all legal requirements.
Customer funds are kept separate from business funds, so you don't have to worry about losing your money in the rare event of insolvency.
Your personal data is also in good hands with NAGA Markets. Thanks to the modern SSL encryption on the website, you can be sure that this data will not get to unauthorized third parties.
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