NAGA is the retail trading brand of Hamburg-based, Frankfurt Stock Exchange-listed The NAGA Group AG, built around integrated social and copy-trading features (NAGA Autocopy) alongside MT4/MT5.
| Regulated entity | Naga Markets Europe Ltd |
|---|---|
| Regulation | CySEC No. 204/13 + FSA Seychelles No. SD026 |
| Other Tier-1 regulators | FSCA |
| Founded | 2015 |
| Headquarters | Hamburg, Germany (The NAGA Group AG, parent, listed on Frankfurt Stock Exchange as N4G0); Naga Markets Europe Ltd is the CySEC-regulated Cyprus entity |
| Minimum deposit | $50 |
| Avg. spread (EUR/USD) | 1.7 pips |
| Platforms | MT4, MT5, Proprietary (NAGA Trader) |
| Instruments | 4,000+ tradable assets across forex, stocks, ETFs, commodities, indices and crypto, with built-in social/copy trading (NAGA Autocopy) |
See NAGA's full regulation dossier → · How to check whether a forex broker is regulated
Derived from the same confirmed data behind this broker's score (regulation, cost, platforms, deposit minimum) -- not a separate editorial judgment.
Via its CySEC-regulated Cyprus entity, eligible clients are covered by Cyprus's Investor Compensation Fund (ICF) up to €20,000 per person if the firm fails. Via its Seychelles FSA-licensed entity, there is no statutory investor compensation scheme -- if that entity fails, there is no guaranteed fund to recover client money from.
Beyond the headline spread and minimum deposit above. Where our research hasn't independently confirmed a specific detail, we say so rather than guess -- verify directly with the broker before relying on it.
| Account types | Standard and ECN/Raw accounts, both available with an Islamic swap-free variant obtained by converting a standard account via a support request. |
|---|---|
| Execution model | Disputed: NAGA states it is a market maker in parts of its own disclosures, which some trader commentary criticizes as inconsistent with STP-style language used elsewhere in its marketing -- not independently resolved either way. |
| Withdrawals & deposits | Card deposits around 10 minutes, e-wallet/crypto instant, wire 2-5 business days; withdrawals from 15 minutes up to 3 business days. Withdrawal fees range $0-5 depending on account tier; minimum withdrawal $50. |
| Overnight financing (swap) | The Islamic account removes rollover swap but may carry an admin fee or wider spread as compensation; the standard (non-Islamic) swap calculation methodology wasn't found. |
| Currency conversion cost | Reported as no conversion fee, via a multi-currency account supporting EUR, USD, GBP, PLN and others -- not independently verified against NAGA's own fee schedule directly. |
| Inactivity fee | Reported as applied after 90 days of no trading; the exact amount wasn't confirmed. |
| Customer service | Mixed: praise for responsive phone/chat support and access to signals/webinars, alongside complaints about slow or unhelpful email support, login issues, and withdrawal/fund-availability disputes. Its Trustpilot status is reported inconsistently across sources -- around 3.8/5 from roughly 2,200 reviews in one place, versus "currently unavailable due to a guideline breach" with around 4,300 reviews in another. |
| Mobile experience | Reported around 4.4 on iOS and 3.8 on Android, a blended figure around 4.1. |
| Educational offering | Offers webinars, video tutorials/courses, an economic calendar, market analysis, and signals, with reviewer ratings on these sub-items ranging from around 3.0 to 4.5/5. One source states a $250 deposit tier unlocks full education access, though this wasn't verified against an official pricing page. |
See how NAGA's spread cost compares across every researched broker → · Forex broker fees explained
Is NAGA regulated?
Yes -- CySEC No. 204/13 + FSA Seychelles No. SD026. See the regulation dossier on this page for the underlying licence numbers.
Is my money protected if NAGA fails?
Via its CySEC-regulated Cyprus entity, eligible clients are covered by Cyprus's Investor Compensation Fund (ICF) up to €20,000 per person if the firm fails. Via its Seychelles FSA-licensed entity, there is no statutory investor compensation scheme -- if that entity fails, there is no guaranteed fund to recover client money from.
What is the minimum deposit at NAGA?
Our research confirms a minimum deposit of $50.
What trading platforms does NAGA offer?
NAGA offers MT4, MT5, Proprietary (NAGA Trader).
What is NAGA's average spread on EUR/USD?
Our research confirms an average EUR/USD spread of 1.7 pips. See our cost calculator to compare this across every broker we've reviewed.
When was NAGA founded?
NAGA was founded in 2015.
How is NAGA's overall score calculated?
NAGA currently scores 3.06/5 overall under our disclosed nine-category methodology -- regulation & client protection 30%, trading costs 20%, non-trading fees 10%, platforms & tools 10%, execution/trading conditions 10%, product range 5%, deposits/withdrawals 5%, transparency 5%, track record 5%. It is not a comparison to other brokers and not based on hands-on testing.
A dated log of when our own published data about this broker actually changed -- not a reconstructed history of what the broker itself did. See the full change log tool for every broker.
EU clients typically served under Central Bank of Ireland / MiFID passporting rather than a direct CySEC CIF licence -- worth confirming which entity applies to you.
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