
NAGA Review
Overall, NAGA is considered a reliable, low-risk broker with an abundant range of trading instruments and a competitive social trading environment. NAGA is licensed to trade in financial markets (including cryptocurrencies), equities, and virtual products on all major international exchanges under European and Cypriot regulations. NAGA is currently not regulated by the CBN.

- Louis Schoeman
Updated : March 27, 2023
Jump to:

Regulation and Safety of Funds

Account Types and Features

Account Registration

Range of Markets

Fees

Deposits and Withdrawals

Education and Research

Affiliate Program

Final Verdict

Pros and Cons

FAQ
Total Pairs
45+
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
NAGA At a Glance
🏛️ Headquartered | Cyprus |
🏛️ Nigerian Based Office | No |
👍 Accepts Nigerian Traders? | Yes |
📅 Year Founded | 2015 |
📱 Nigerian Office Contact Number | None |
⚖️ Regulation | The Cyprus Securities and Exchange Commission (CySEC) |
🔎 License Number | Cyprus – 204/12 |
⚖️ CBN Regulation | No |
✴️ Regional Restrictions | The United States, Canada, United Kingdom, Israel, Islamic Republic of Iran |
☪️ Islamic Account | Yes |
📈 Demo Account | Yes |
📈 Retail Investor Accounts | 6 |
🚀 Offers a Nigerian Account? | No |
💻 Dedicated Nigerian Account Manager? | Unknown |
💰 Affiliate Program | Yes |
🚀 Order Execution | Market |
📈 Average spread | 0.7 pips EUR/USD |
✴️ Margin Call | 100% |
🌐 Stop-Out | 50% |
📈 Minimum Trade Size | 0.01 lots |
📈 Maximum Trade Size | 10,000 lots |
🔎 Crypto trading offered | Forex Stock CFDs Indices Commodities Futures ETFs Cryptocurrencies |
📈 Maximum Leverage | 1:1000 |
📈 Leverage Restrictions for Nigeria? | None |
💳 Minimum Deposit (₦) | 103,000 NGN equivalent to $250 |
💳 Nigerian Naira Deposits Allowed? | Yes |
💰 Active Nigerian Trader Stats | +-20 000 |
💰 Nigeria Daily Forex Turnover | Unknown |
💳 Deposit Options | Debit Cards Credit Cards Bank Wire Transfer Cryptocurrencies PayPal P24 Ideal Eps Giropay Skrill Neteller Sofort, etc. |
💰 Segregated Accounts with Nigerian Banks? | No |
💻 Trading Platforms | NAGA Trading Platform MetaTrader 4 MetaTrader 5 |
💰 Tradable Assets | Forex Stock CFDs Indices Commodities Futures ETFs |
🌐 Offers USD/NGN currency pair? | No |
🌐 USD/NGN Average Spread | N/A |
📈 Offers Nigerian Stocks and CFDs | No |
👨💼 Languages supported on Website | English, Spanish, Polish, German, Italian, and several others |
👥 Customer Support Languages | Multilingual |
👥 Customer Service Hours | 24/5 |
👥 Nigerian-based customer support? | No |
💰 Bonuses and Promotions for Nigerians | No |
✴️ Education for Nigerian beginners | Yes |
📊 Proprietary trading software | Yes |
💰 Most Successful Nigerian Trader | Uche Paragon ($20 million net worth) |
✔️ Is NAGA a safe broker for Nigerians? | Yes |
✔️ Rating for NAGA Nigeria | 9/10 |
✔️ Trust score for NAGA Nigeria | 99% |
👉 Open an account | 👉 Open Account |
NAGA Review – 20 key points quick overview:
NAGA Overview
NAGA is the best social investment network and platform that is both reliable and trustworthy. Nadex Futures and Options (CFDs) are among the more than 950 trading products available via NAGA’s social investing network.
Using decentralized technology and the right help, NAGA, a Fintech start-up, was established in 2015 to provide global investors with access to global markets.
NAGA is licensed to trade in financial markets (including cryptocurrencies), equities, and virtual products on all major international exchanges under European and Cypriot regulations. While the Central Bank of Nigeria (CBN) does not regulate or authorize NAGA, CySEC, a recognized market regulator located in Cyprus, oversees the broker and platform.
This NAGA review will provide traders with the details that they need to consider whether the broker is suited towards their unique trading objectives and needs.
Plus500 Distribution of Traders
Distribution of Traders
The distribution of traders with NAGA is as follows:
️ Germany – 14.2%
️ Netherlands – 12.3%
️ Spain – 11.2%
️ Poland – 9.6%
️ Italy – 7.7%
Popularity among traders who choose NAGA
NAGA is a popular trading platform and while it does not have a large market share in Nigeria, it is one of the Top 100 brokers for Nigerian traders.
NAGA Regulation and Safety of Funds
NAGA is the trading name of Naga Markets Ltd, a Cyprus-based investment firm that is a subsidiary of The NAGA Group AG, a German-based FinTech business that is publicly traded on the Frankfurt Stock Exchange. The Cyprus Securities and Exchange Commission (CySEC) has licensed and regulated Naga Markets Ltd with License No. 204/13.
NAGA is under the purview of CySEC, which oversees monitoring and policing investment services providers like the broker. This implies that they are subject to a tight set of rules and regulations. Customers may rest easy knowing they are dealing with a reputable and trustworthy online broker when they do business with them.
Since Cyprus is a member of the European Union, CySEC’s financial rules and activities must adhere to the European MiFID financial harmonisation legislation, which NAGA must as well.
Segregated accounts for NAGA’s client funds are held by reputable EU-based banks. Thus, they cannot be used for anything else, like covering operational costs, because they are kept separate from the company’s general fund.
Additionally, NAGA Markets is a participant in the Investor Compensation Fund (ICF). If a member of the ICF is unable to meet their financial obligations, the ICF may be able to provide compensation for eligible clients.
Plus500 Account Types and Features
Traders may choose from six different retail investment accounts, known as VIP Levels, offered by NAGA. These accounts are arranged according to the amount of expertise and trading experience they give.
Nigerian traders and investors are urged to use NAGA’s demo account before investing real money. NAGA also offers a swap-free account that does not charge/pay overnight fees on specified assets.
The live trading account options offered by NAGA are:
️ Iron Account
️ Bronze Account
️ Silver Account
️ Gold Account
️ Diamond Account
️ Crystal Account
Live Trading Accounts
Iron Account
Most Nigerian traders can begin trading with NAGA on the Iron Account, which is the lowest-level account available. The Iron Account has the following features and specifications:
Account Feature | Value |
💳 Minimum Deposit | 103,000 NGN equivalent to $250 |
📈 Average Spreads | Variable, from 1.7 pips on forex major pairs |
📊 Trading Signals offered | Yes, up to 4 trading signals offered |
💰 Withdrawal Fees | Yes, $5 |
✴️ Access to Webinars | Yes, unlimited access |
✴️ Access to Educational Tools and Resources | Yes, unlimited, and free access |
👍 Trading Alerts offered | Yes |
🔎 PI Dashboard Access | No |
🔎 One-on-One Tutoring | No |
📊 Premium Trading Features | No |
📈 Reduced Commissions | Yes, on Stock CFDs (0,20%) |
Bronze Account
With the Bronze Account, NAGA provides its Nigerian client additional services, such as:
Account Feature | Value |
💳 Minimum Deposit | 1,039,000 NGN equivalent to $2,500 |
📈 Average Spreads | Variable, from 1.7 pips on forex major pairs |
📊 Trading Signals offered | Yes, up to 4 trading signals offered |
💰 Withdrawal Fees | Yes, $4 |
✴️ Access to Webinars | Yes, unlimited access |
✴️ Access to Educational Tools and Resources | Yes, unlimited, and free access |
👍 Trading Alerts offered | Yes |
🔎 PI Dashboard Access | Yes |
🔎 One-on-One Tutoring | No |
📊 Premium Trading Features | No |
📈 Reduced Commissions | Yes, on Stock CFDs (0,20%) |
Silver Account
One of the most popular options for more experienced traders, as they go through the NAGA levels, is the Silver Account. The following are the account’s benefits and features:
Account Feature | Value |
💳 Minimum Deposit | 2,000,000 NGN equivalent to $5,000 |
📈 Average Spreads | Variable, from 1.7 pips on forex major pairs |
📊 Trading Signals offered | Yes, up to 4 trading signals offered |
💰 Withdrawal Fees | Yes, $3 |
✴️ Access to Webinars | Yes, unlimited access |
✴️ Access to Educational Tools and Resources | Yes, unlimited, and free access |
👍 Trading Alerts offered | Yes |
🔎 PI Dashboard Access | Yes |
🔎 One-on-One Tutoring | Yes |
📊 Premium Trading Features | No |
📈 Reduced Commissions | Yes, on Stock CFDs (0,20%) |
Gold Account
Competitive and complex trading conditions are available in the Gold Account for experienced traders.
Account Feature | Value |
💳 Minimum Deposit | 103,000,000 NGN equivalent to $25,000 |
📈 Average Spreads | Variable, from 1.2 pips on forex major pairs |
📊 Trading Signals offered | Yes, up to 15 trading signals offered |
💰 Withdrawal Fees | Yes, $2 |
✴️ Access to Webinars | Yes, unlimited access |
✴️ Access to Educational Tools and Resources | Yes, unlimited, and free access |
👍 Trading Alerts offered | Yes |
🔎 PI Dashboard Access | Yes |
🔎 One-on-One Tutoring | Yes, four sessions |
📊 Premium Trading Features | No |
📈 Reduced Commissions | Yes, on Stock CFDs (0,10%) |
Diamond Account
Traders and investors can take advantage of the Diamond Account’s extra benefits and move up to the more prestigious levels after signing up:
Account Feature | Value |
💳 Minimum Deposit | 41,500,000 NGN equivalent to $100,000 |
📈 Average Spreads | Variable, from 0.7 pips on forex major pairs |
📊 Trading Signals offered | Yes, up to 20 trading signals offered |
💰 Withdrawal Fees | None |
✴️ Access to Webinars | Yes, unlimited access |
✴️ Access to Educational Tools and Resources | Yes, unlimited, and free access |
👍 Trading Alerts offered | Yes |
🔎 PI Dashboard Access | Yes |
🔎 One-on-One Tutoring | Yes, unlimited sessions per month |
📊 Premium Trading Features | Yes |
📈 Reduced Commissions | Yes, on Stock CFDs (0,10%) |
Crystal Account
In terms of trading conditions, the Crystal Account is at the top of the food chain, with all the following features accessible to Nigerian investors and traders:
Account Feature | Value |
💳 Minimum Deposit | 41,500,000 NGN equivalent to $100,000 |
📈 Average Spreads | Variable, from 0.7 pips on forex major pairs |
📊 Trading Signals offered | Yes, up to 20 trading signals offered |
💰 Withdrawal Fees | None |
✴️ Access to Webinars | Yes, unlimited access |
✴️ Access to Educational Tools and Resources | Yes, unlimited, and free access |
👍 Trading Alerts offered | Yes |
🔎 PI Dashboard Access | Yes |
🔎 One-on-One Tutoring | Yes, unlimited sessions per month |
📊 Premium Trading Features | Yes |
📈 Reduced Commissions | Yes, on Stock CFDs (0,10%) |
Demo Account
A demo account is a practice account that offers traders a certain amount of virtual funds that they can use, allowing them to enter the live market without risking their capital.
There is a certain degree of risk involved when trading financial markets and NAGA offers its clients a risk-free platform where they can test strategies, practice trading, and explore what the broker offers in a safe trading environment with real market conditions.
Islamic Account
Depending on the trading style and the trading strategy of the forex trader, they may keep their trading positions open for longer than 24 hours on a trading day.
This means that the trader could incur an overnight or rollover fee. This is a type of interest that is prohibited by Riba principles of Sharia law, which means that Muslim traders are often restricted in forex trading.
Once Nigerian Muslim Traders have completed the application for a live trading account and their information has been verified against their proof of identity and residency, they can request an account conversion by contacting NAGA customer care.
NAGA Account Registration
Step 1 – Register an account
To open an account is quick and easy. Make your way to the website and select Sign Up, choose the county you reside in and fill out a registration form and confirm your email address.
Step 2 – Complete your information
Complete your relevant information in the fields requested and click “Continue”
Step 3 – Complete your personal information
After verifying your contact number you will be taken to the next screen to complete your personal information and create a password for your account. Once completed select “Send”
Step 4 – “Know your client” verification
You need to supply some documents for identification purposes that will be requested and once this is sent through and verified you can fund your account and start trading.
NAGA Vs FXTM VS BDSWISS – Broker Comparison
NAGA | FXTM | BDSwiss | |
⚖️ Regulation | CySEC | CySEC, FSCA, FCA, FSC Mauritius | CySEC, FSC, BaFIN, FSA |
📱 Trading Platform | NAGA Trading Platform MetaTrader 4 MetaTrader 5 | MetaTrader 4 MetaTrader 5 FXTM Trader | MetaTrader 4 MetaTrader 5 BDSwiss Mobile BDSwiss Web |
💰 Minimum Deposit | 103,000 NGN | 10,000 NGN | 41,000 NGN ($100) |
📈 Leverage | 1:1000 | 1:2000 | Up to 1:1000 |
📊 Spread | 0.7 pips | 0.0 pips | From 0.3 pips |
💰 Commissions | None | From $0.4 | $2 to $5 |
💳 Margin Call/Stop-Out | 100%/50% | 60%/40%, 80%/50% | 50%/20% |
✴️ Order Execution | Market | Instant/Market | Instant/Market |
💳 No-Deposit Bonus | No | No | No |
📊 Cent Accounts | No | No | In Progress |
📊 Account Types | Iron Account Bronze Account Silver Account Gold Account Diamond Account Crystal Account | Micro Account Advantage Account Advantage Plus Account | Classic Account Premium Account VIP Account RAW Account |
⚖️ CBN Regulation | No | No | No |
💰 NGN Deposits | Yes | Yes | No |
📊 Nigerian Naira Account | No | Yes | No |
👥 Customer Service Hours | 24/5 | 24/5 | 24/5 |
📊 Retail Investor Accounts | 6 | 3 | 4 |
☪️ Islamic Account | Yes | Yes | Yes |
📊 Minimum Trade Size | 0.01 lots | 0.01 lots | 0.01 lots |
📈 Maximum Trade Size | 10,000 lots | Unlimited | 1,000 lots |
Trading Platforms
Desktop Platforms
️ MetaTrader 4
️ MetaTrader 5
With NAGA, traders have access to both MetaTrader 4 and MetaTrader 5 that they can download to any Windows, Linux, or macOS computer. MetaTrader 4 and 5 offer a wide range of functions and features that can support traders in their trading activities.
WebTrader Platforms
️ NAGA Web
️ MetaTrader 4 and 5
The NAGA social trading platform serves as a hub for users to discuss and invest in one another’s trading strategies. In addition to browsing the community, you can look for signals, study 750+ assets, analyse charts, and much more.
MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are also available via NAGA for online trading. Simple-to-use and jam-packed with technical indicators, MetaTrader platforms are the go-to for traders who want to dig deep into the market.
Expert advisors (EAs) and a big online community of traders who share MetaTrader tools are also supported by the platforms. An integrated MetaEditor allows programmers to design their own trading applications.
Trading App
️ NAGA Mobile
️ MetaTrader 4
️ MetaTrader 5
To utilize Naga Web, traders can easily log into NAGA mobile where they may duplicate transactions from other members and set up price alerts from their browser. The platform has a lot of the features of MT4 and MT5, as well as a few new ones:
️ Access to all markets
️ Access to a messenger where traders can share analysis
️ Leader board
️ Personal Account Manager
️ Copy-trading signals
️ Market news
️ Digital wallets, and more
MetaTrader 4 and 5 can be used on any Android and/or iOS mobile device if traders have a steady Internet connection and a verified broker account. NAGA offers a choice between trading accounts that can be used in combination with either MT4 or MT5, providing Nigerian traders with comprehensive trading solutions and services.
Min Deposit
USD 50 / 20725 NGN
Regulators
CySEC, FCA
Trading Desk
Dealing Desk with DMA and STP
Crypto
Yes
Total Pairs
45+
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Range of Markets
The range of markets offered by NAGA include:
️ Forex
️ Stock CFDs
️ Indices
️ Commodities
️ Futures
️ ETFs
️ Cryptocurrencies
NAGA Broker Comparison for Range of Markets
NAGA FXTM BDSwiss
➡️️ Forex Yes Yes Yes
➡️️ Precious Metals Yes Yes Yes
➡️️ ETFs Yes No No
➡️️ CFDs Yes Yes Yes
➡️️ Indices Yes Yes Yes
➡️️ Stocks Yes Yes Yes
➡️️ Cryptocurrency No No Yes
➡️️ Options No No No
➡️️ Energies Yes Yes Yes
➡️️ Bonds No No No
Trading and Non-Trading Fees
Spreads
NAGA charges the following average spreads:
️ Iron Account – from 1.7 pips EUR/USD
️ Bronze Account – from 1.7 pips EUR/USD
️ Silver Account – from 1.7 pips EUR/USD
️ Gold Account – from 1.2 pips EUR/USD
️ Diamond Account – from 0.9 pips EUR/USD
️ Crystal Account – from 0.7 pips EUR/USD
Overnight Fees, Rollovers, or Swaps
All NAGA’s account levels can be converted into an Islamic swap-free account. A genuine trading account must be opened first by customers who want to utilize this account. After making the required minimum deposit and verifying their account, traders may contact NAGA customer service to request a conversion.
Many additional financial goods are available in the Islamic account option; however gold, silver, and oil are excluded. On a swap-free account, traders may hold open positions for a maximum of 10 days before paying costs.
Every day a position is active for more than ten days, traders will be charged ten units of their base account currency for each additional day it is open.
Deposit and Withdrawal Fees
NAGA charges the following Withdrawal Fees:
️ Iron Account – $5
️ Bronze Account – $4
️ Silver Account – $3
️ Gold Account – $2
️ Diamond Account – $1
Deposits and Withdrawals
NAGA offers the following deposit and withdrawal methods:
️ Debit Cards
️ Credit Cards
️ Bank Wire Transfer
️ Cryptocurrencies
️ PayPal
️ P24
️ Ideal
️ Eps
️ Giropay
️ Skrill
️ Neteller
️ Sofort, and others.
How to Deposit Funds with NAGA
Nigerian traders can fund the trading account with a list of payment methods using these steps:
️ Log into the trading account and make sure that it has been verified
️ Select “Fund Account” and choose a deposit method
️ Enter the amount to deposit
️ Confirm the deposit
How to Withdraw Funds with NAGA
To withdraw funds, traders can log into the trading account and select the option to “Withdraw.” Traders must note that their withdrawal request will automatically be done through the same payment method that they used with deposits.
Traders can select their currency, enter the amount, and submit the withdrawal request.
How To Minimize Risk While Trading?
1. Use Stop Losses
👉 A stop loss is a trading technique that takes you out of losing trades at a predetermined level in order to limit your losses. Utilize stop losses to ensure a 1:1 risk-reward ratio and above in all your trades in order to limit losses and maximize profits on each trade. For example, if you’re setting your stop loss at 50 pips below your entry point, set your take profit at least 50 pips above your entry point.
👉 A 1:2 risk-reward ratio and above will ensure that you remain profitable even if the majority of your trades are losing trades. Using a 1:2 risk-reward ratio means that you should place your stop loss at 100 pips if you have a profit target of 200 pips and so on.
👉 If you are a more aggressive trader, you can use a 1:3 risk-reward ratio, where you risk 100 pips for a profit target of 300 pips.
2. Use Proper Lot Sizes
👉 Trading using proper lot sizes is crucial to your success as a trader. That’s because the lot size determines the value of each point of the currency pair you are trading. A standard lot typically refers to 100,000 units of the base currency you are trading. Therefore, trading a standard lot of the EURUSD currency pair puts the value of each point at USD 100.
👉 The lot sizes you trade should be proportionate to the amount you are willing to risk on each trade, which is directly related to the size of your account and your risk appetite.
3. Control Your Losses
👉 You should only risk 2% or less of your trading account on each trade. This will ensure that you can survive any losing streak while minimizing the drawdown on your trading account.
👉 Remember: losses in forex trading are not linear. A 50% loss would require a 100% gain in order to recover your original trading account level.
4. Use Leverage Carefully
👉 Most forex brokers offer to trade with leverage, and with Exness traders can enjoy up to 1:Unlimited leverage. While trading with leverage is one of the great advantages of trading forex, it can also increase the risk of losses if used incorrectly. Leverage works as a ratio, meaning that if you trade with USD 10 at a leverage of 1:50 your market investment will be USD 500. This means that, if your investment moves in a favourable direction, your profits would be 50x bigger than they would have been without leverage. However, this also means that your losses if the currency moves in an unfavourable direction would be 50x greater as well. Traders are therefore reminded to apply leverage with care.
5. Choose The Time Of Day That You Trade
👉 Most traders tend to ignore the impact of the time of day that they trade. However, traders who are active during periods of less volatility tend to be more profitable than traders who trade during periods of high volatility.
👉 The high volatility periods for different currency pairs vary, but can generally be summarized as the opening hours of the Asian sessions, the London/European sessions, and the New York/American sessions.
👉 Experienced traders who are trading European currency pairs, such as EURUSD and GBPUSD, typically trade during off hours from 7PM to 11AM GMT. However, this data applies to range of traders who trade following the existing trends but might differ for traders using other trading strategies, such as scalping.
6. Buy The Rumor, Sell The News
👉 Many traders like to stay abreast of news that affects the forex market, but this is very hard to do given that it is near-impossible to accurately predict what will happen at any given time across the globe. However, experienced traders typically keep abreast of economic releases from different countries, which generally have an impact on many currency pairs.
👉 In most cases, markets typically discount the news based on investors’ expectations, which means that by the time the news is released, the big moves in the affected currency pairs would have already taken place. Therefore, it is important to make trades related to major news events way before the actual news is released.
All About NAGA’s Rebate System
How much rebate can I pay back?
👉 Rebate percentage can be set to be anything between 0% and 100%.
Payment schedule
👉 Rebates are paid daily to the selected referred clients who have closed any trades within the last 24 hours. Daily payments need to be approved by the partner.
👉 Once rebates are set up from your PA, rebates will be automatically calculated for the selected referred clients every time you receive rewards. Total daily rebates will then await your approval in the Approval section of the Rebates tab, or be automatically distributed if you have selected automated approval on rebates for specific referred clients; more information about this is available in the article about how to manage rebates.
Education and Research
NAGA offers the following educational materials:
️ Trading Webinars
Naga offers the following Research and Trading Tools:
️ NAGA Portfolios
️ Charting Tools
️ Market Sentiment
️ NAGA Protector
️ Integrated Watchlist
️ Asset Feed
️ NAGA Wallet
️ Economic Calendar
NAGA Affiliate Program
👉 The affiliate program of NAGA offers the following to its partners:
➡️ NAGA pays up to $80 per client that partners attract
➡️ The Introducing Broker pays between $17 and $27 per lot according to the financial instrument that is being traded.
➡️ The affiliate program pays $25 for every new client once they make a minimum deposit of $250.
➡️ The Pro Affiliate program compensates partners up to $0.30 for every transaction that is copied by traders.
How to Sign Up for the NAGA Affiliate Program
👉 Step 1 – Go to Naga-global.com
➡️ Go to the official NAGA website at www.naga-global.com/
👉 Step 2 – Go to Company in the Dropdown
➡️ Go to “Company” in the menu and click on “Become a NAGA Partner”.
👉 Step 3 – Click on “Get Started”
➡️ Click on the “Join Now” button and fill out your details.
NAGA Social Responsibility
NAGA is concerned with social responsibilities and takes steps to guarantee that activities do not harm society’s overall economic, ecological, and social aspects. Compliance with applicable laws and regulations is important to all NAGA operations.
It extends well beyond this, as NAGA strives to remain innovators, business partners, and employers in the communities in which they operate.
All operations guarantee that the broker makes the most use of available resources. NAGA is continually searching for methods to reduce energy use as well as carbon emissions.
To do this, NAGA constantly upgrades the technologies that are employed and explore new methods to improve information technology and business infrastructure.
To minimize negative environmental impacts, NAGA strives to keep business travel to a minimum. The broker is always searching for methods to enhance virtual collaboration tools. To facilitate effective team communication, NAGA equips its staff with excellent video conferencing technology that enables them to work remotely and have fast access to any resources.
Beyond that, NAGA is actively pursuing novel techniques, especially those that will benefit both the environment as well as the NAGA team.
Verdict on NAGA
NAGA is a social investment platform with a contemporary, user-friendly interface that is ideal for traders of all skill levels. Individual trading, copy trading, customized portfolios, powerful charting tools, market research and insights, and the NAGA wallet are just some of the services available.
They provide a diverse range of trading products at low commissions and with a variety of account financing methods. Along with a diverse portfolio of assets, NAGA offers a comprehensive copy-trading program that enables investors to interact. This broker is ideal for Nigerian traders interested in incorporating social networking into their trading careers.
NAGA Pros and Cons
✔️ Pros | ❌ Cons |
NAGA is well-regulated and offers a secure trading environment to Nigerian traders | Withdrawal fees are charged on all trading accounts |
NAGA is a member of an Investors Compensation Fund (ICF) | There is no NGN-denominated account |
There is a choice between trading platforms | |
Traders have the option to copy and provide trading signals | |
There is a comprehensive affiliate program | |
NAGA does not charge any commissions on trades | |
NAGA offers innovative services and tools such as NAGA portfolios, NAGA Protector, NAGA Messenger, and more | |
Comprehensive educational materials are offered |
Frequently Asked Questions
Is NAGA a fake or scam?
What is the leverage for NAGA?
The maximum leverage is 1:1000. There are no leverage restrictions for Nigerian traders.
How many traders does NAGA have?
NAGA has more than 1 million registered users at present.
Does NAGA offer a demo account?
Yes, a demo account is available.
What is the overall rating for NAGA out of 10?
The overall rating for NAGA is 4.5/10