Naga Markets is a social platform where investors and traders of all levels can trade forex and CFDs on stocks, indices, ETFs and cryptocurrencies. Learn more about CFDs here. The broker has no set minimum deposit, so it is possible to trade with even $1. A demo account can be opened on the platform for free. Spreads are very good on cryptocurrencies, but unfortunately they are not so attractive for other asset types. NagaMarkets is supervised by the regulatory authority CySEC.
Naga Markets Review – Broker overview
| Minimum deposit | 1 USD |
| Platform | their own, MT4, MT5 |
| Regulated broker | Yes |
| Regulations | CySEC |
| Demo account | Yes |
Special features and advantages
| Price alerts |
Trading platform
Apart from traditional MT4 and MT5, NagaMarkets offers the usage of their very own platform. It seems to be very good, modern, clean, simple. In my opinion, the platform is one of the best looking on the market. You can use the ranking of the most successful investors on the platform to decide which traders you want to follow. Unfortunately, unlike other brokers, NagaMarkets doesn’t have that many traders, so the choice isn’t that great. I already mentioned the main asset categories that can be found on the platform, but what I missed is the fact that it is possible to trade gaming assets with the broker. So if you’re an e-sports fan, you’ll appreciate that this is where you can trade CS:GO skins like AK 47 Redline, AWP Fever Dream and more.
Nagamarkets fees (spreads)
To give you an idea of how big the broker’s spreads are, I have created the following table. In it you can find the size of Naga Markets spread fees compared to 2 other popular CFD brokers.
EUR/USD | EUR/USD | USD/JPY | GBP/USD | AUD/USD |
| Plus500* | 0.6 | 0.7 | 1.1 | 0.6 |
| XTB* | 0.8 | 1.4 | 2.0 | 1.7 |
| NagaMarkets** | 1.2 | 1.3 | 1.6 | 1.3 |
** the spread value was gathered from the broker’s trading platform 24/09/2019
Naga Markets – Review summary
Naga Markets must adhere to the strict regulatory guidelines of the CySEC regulatory authority. The broker offers two of its own social trading platform where one can follow and copy other traders. Spreads are not high by any means and especially for cryptocurrencies.
Advantages
- Relatively strict regulation
- Good spread value, especially for crypto
- Possibility to trade e-sports skins
- Wide choice of platforms
- Low minimum deposit
Disadvantages
- Not many traders to follow for social trading
- Other brokers might have better spreads for stocks or commodities
