Naga Copy Trading Review – Compare The Best Copy Trading Platforms 2023

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We have monitored a wide range of copy trading service providers, a full list of the reviews you can find here. You can read a detailed look at Naga Copy Trader on this page.

Naga is a social trading network and a multi-asset brokerage. At Naga social platform, investors can monitor, like, share and copy over 500 trading instruments, including CFDs, Forex and Stocks. In this Naga review, we have covered the main aspects for you to consider when deciding which broker answers your investment needs.

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Naga Overview

Naga multi-asset broker was founded by Yasin Qureshi and Benjamin Bilski in 2015. Its headquarters is in Cyprus, and since 2017, Naga Markets has been a publicly listed FinTech company in Frankfurt which means you can buy shares in the company.

Naga provides various ways of financial investment in the global market through either manual or automated trading. Naga’s social trading opportunity is open for both advanced traders to join and earn by getting copied and beginner investors with limited trading experience.

Naga’s Customer Experience

You can get to the social trading platform’s feed via the broker’s leading site, the section Social Trading. However, the section is developed more like an FAQ, and we had to go through almost all listed questions before finding the feed page of the social trading platform.

Compared to other platforms competing in the field, Naga welcomes you as a guest visitor with an interface with almost the same features as the one for the account owners. You can see essential information at the top of the page, such as your account’s balance, how much you have invested, and your margin level.

This is visible even as a visitor but with just an informative purpose. Another plus is that you can leave a message on the Naga feed board as a guest and get an answer from other investors or the company’s supporting team.

A good point is also that the site is available in twelve different languages.

This Naga review showed that the platform offers two opportunities for its users – copy trading and independent trading when it comes to trading. As an independent trader, you can go through the Market section and select the market you wish to trade in – Forex, Indices, Commodities and others. To place your trades, you can choose the Buy or Sell option.

If you choose the Copy Trading option, you’re presented with a list of traders and the markets they are trading. You can either directly copy their actions or choose to follow them and get a better idea of their trading style.

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You can review the traders’ stats, including the performance of the strategies, presented daily, weekly, monthly or for all time. The stats also include frequently traded instruments and the number of copies and auto copies the trader has received.

To join Naga, you can sign up by creating your profile or using your Google or Facebook accounts to log on. Once you’ve set up your account, you can start trading. Keep in mind that although there is no minimum deposit requirement, to get exposure to most of the market, you need to deposit at least 200 USD.

Additionally, according to the payment method selected, there is a required minimum amount available for transfer. In our opinion, this is more clearly messaged by the broker as new users may seem like a hidden fee.

Our research for this Naga review showed that the broker’s withdrawal policy might confuse some investors and traders (according to various customers’ reviews). Naga’s withdrawal fees depend predominately on the withdrawal payment method, and therefore, they can vary.

Conclusion

Overall, in our opinion, Naga social trading platform is well-structured with plenty of information that will support both investors and traders experiences. However, we were left with the impression that more transparent information on fees and withdrawal policies is needed.

Pros And Cons Of Naga:

Pros

► Well-structured, easy to navigate interface

► Wide range of trading instruments

► Mobile app – available for both Android and iOS

► Multiple language support

Cons

► Lack of more precise information on deposit level and withdraw fees

► Not available in various countries, including members of the EU

Is Naga Safe Or A Scam?

Naga’s team has taken the necessary steps for providing more transparency in their operation. The broker is registered and licensed in Cyprus, and it operates under the regulations of CySEC. Additionally, Naga Group is registered and authorised to operate in Germany, and the broker is backed up by a Chinese fund known as FOSUN.