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Home » Uncategorized

Guidelines for Using Naga.com

Submitted by on Wednesday, 27 May 20200 Comments

Fintech company NagaNaga was established back in 2015 as a Fintech company that uses decentralized technology to support global investors. The broker belongs to the Naga Group AG that is a publicly-traded company on the Frankfurt Stock Exchange. Naga is operating under Cyprus laws and in compliance with the European legislation. Currently, Naga provides potential investors with more than 750 tradable assets addressing Forex, Stocks, Indices, Commodities, Futures, ETFs and Cryptocurrencies. Moreover, this online broker has developed its own cryptocurrency known as NagaCoin which remains in the top largest token sales. What’s good is that Naga clients can not only buy and sell the asset classes but also access social trading mechanisms, trade on real cryptocurrencies, create their own crypto wallet on NAGAX and use a NAGA MasterCard. For more information, keep reading.

Opening an Account

To create an account at https://naga.com/, you will need to specify your trading experience - Beginner, Advanced or Professional. To explore the account, Naga made an online tour with core features. Thus, there are more than 500 assets to trade in 6 categories – stocks, currencies, commodities, ETFs, and cryptocurrencies. Naga also offers trader classification to retail and professional traders, which include basic requirements as per new leverage regulations. These are as follows:

  • Up to 10 significantly sized transactions are allowed per quarter.
  • A financial instrument portfolio featuring cash deposits, exceeding €500,000 or currency equivalent, needs to be established.
  • Work background in the financial sector must be not less than one year.
  • Currencies available for the account include USD, EUR, GBP, PLN, Bitcoin, Binance Coin, Ehthereum, and NAGA Coin.
  • A swap-free period covers 10 days for each trade. After 10 days, normal swaps can be processed.

Choosing Trading Platforms

At Naga.com, you have a choice of platforms to use. MT4 and MT5 do not require introduction due to their well-known popularity and proved powerful capabilities. Naga trading platform offers a great balance between friendly visual design and its sophisticated services Being a Fintech company, Naga has managed to developed truly great software that will address customer’s major needs for online support, recent news, and comprehensive analysis characteristics. While one of the major parts of Naga offering is a social trading capability, you will enjoy an excellent feature of copy trading. Also, there is a nice option performed via Naga Exchange that enables unlimited and commission-free algorithm through its biggest social network. Whether you are a professional or a newcomer to the world of stock trading, Naga provides both with original opportunities to copy trades and act as a “master”.

Applicable Service Fees

Naga is well-known for offering the lowest spreads for all traders despite trading account size. As a result, you can hope for attractive trading conditions. The average spread for EUR/USD is estimated at 1.2 pips, which happens to be a good spread among industry offering. As for other mechanisms, there could be commission fees for some assets. While using social trading, all expenses and spread of the profit between master and copy accounts will be measured automatically.

Consider Naga rollover or overnight charge as an extra expense taken for the positions held longer than 24 hours. Also, it is determined by the direction of your trading operations, both buying and selling.

Trading

Offered Funding Methods

To proceed with stock trading on Naga, you need to transfer some funds into your trading account. Luckily, Naga supports all major cards, cryptocurrencies and alternative payment options like e-wallets. Moreover, there is also Naga Card & IBAN that allows users to organize their funds and pay for services or products in an easy and fast way.

  • Minimum deposit: There is no minimum first-time deposit required. But most traders deposit around 200$ in order to reach almost any market and check Naga conditions.
  • Deposit fee: There are all deposit fees applicable to whatever payment method you use for a transaction. When it comes to money withdrawals, Naga does not skip fees.

Final Verdict

Generally, Naga can be defined as an online broker that supports constant development of trading innovation. By offering some unique services, they are well promoted and integrated with their platform, making a convenient experience for traders. While trading with Naga, you will discover vast investment opportunities whether you are a beginner or a professional in the stock trading sphere. Thus, the unique value propositions offered by Naga are worth to be tried out, especially considering no minimum deposit required.

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