1.659 • 41 REVIEWS
Updated: Sep 8, 2023
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NAGA is a forex broker. NAGA offers the MT4 and Mobile forex trading top platform. offers over 45 forex currency pairs, ETFs, index cfds, stock cfds, futures, commodities, bitcoin and other cryptocurrencies for your personal investment and trading options.
Other websites of this company include, and

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 30:1
Minimum to Open Live: $250
Established: 2015
Address: Ariadnis 7, Mouttagiaka, 4531, Cyprus
Contact:, +44 20 3318 4345
Regional offices:
Regulators: CySEC #204/13
Prohibited countries:
Trading platforms: MT4, MT5, WebTrader, MobileTrader (MobileApp)
Web Trading: ✅ Yes
Mobile Trading: ✅ Yes

Trading Instruments

Currencies: (45+)
Cryptocurrencies: (15+) Bitcoin, Litecoin, Ethereum
CFD: (735+) Gold, Silver, Stocks, Stock Indexes, Oil, Other Commodities

Trading Conditions

News Trading: ✅ Yes
Scalping: ✅ Yes

Managed Accounts & Social Trading

Deposit Methods: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Airtel, Bitcoin, Bitcoin Cash, Cash, Dash, EPS, Ether/Ethereum, Giropay, iDEAL, Litecoin, Maestro, Neteller, Online Bank Transfer, Przelewy24, QR Payment, Skrill, SOFORT, Trustly
Withdrawal Methods: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Bitcoin, Bitcoin Cash, Dash, EPS, Ether/Ethereum, Giropay, iDEAL, Litecoin, Maestro, Neteller, Online Bank Transfer, Przelewy24, Skrill, SOFORT
* Please check broker website for more information
1.659 • 41 REVIEWS

Recent User Reviews of

Bayreuth, Germany,
Jan 11, 2023,
Registered user

Doesn't pay, doesn't reply to emails

Service use: Live Length of use: 3-6 Months
Opened trading account in October and started trading. At the beginning of the year I got an email saying that my trading account was cancelled. They removed 663 USD from my account and ignored my emails. LiveChat doesn't help much, asking me to send an email on which the company never replied. Stay away!
Carlos M.P.
Chiclayo, Peru,
Nov 7, 2022,
Registered user

$30 000 lost

Service use: Live Length of use: 6-12 Months
I applyed for a recovery plan adding more funds, they use to give well recomendations based on research but at the end when almost all was recovered, only in one trading sesion their recomendations made all the account crash.-$35000 in one nigth. They said they are looking into it and will give me an answer soon, i will wait
hong kong, Hong Kong,
Dec 3, 2021,
Registered user

46000 USD profit Disappear and fund withdrawal not allowed

Length of use: 3-6 Months
My account 6074229 now is in read only mode, i cannot execute any fund withdrawal, and all my profitable trade are disappeared 46,076.55 EUR .
QWroclaw, Poland,
Nov 22, 2021,
Registered user


Service use: Live Length of use: 0-3 Months
No withdrawals are available. I have been fighting with their accounting department for two weeks now to get my funds back.
London, United Kingdom,
Sep 21, 2021,
Registered user

Please read this before trading with NAGA

Service use: Live Length of use: 6-12 Months
Back in Feb 21, I invested in NAGA's 'Copy Trading' service after seeing an advert online. The business had great reviews and apparently a transparent policy in terms of data of winning traders to copy. The traders I copied had great stats and settings which I followed. I won sometimes losing overall. It was very stressful. In May I spent time looking into the details of NAGA's business and realised the information I was relying on was in parts entirely misleading with false statements. Also there were conflicts of interests which meant that the traders (and NAGA) opened many trades and not closing losing ones but which were to the unknowing detriment of anyone copying them. Below some detail:

1. The traders stats are false and misleading:
a) The main one is that open trades are not shown. So traders can have accounts in severe trouble (as happened to me several times) but appear very good. This is a wilful policy and there is a video by the CEO of NAGA stating "In our platform the credo of open trades does not say anything" in an interview with their top trader who himself says that open trades are an "overdraft facility" which the CEO agrees with. The CEO also says that investors don't read the information they are “on Instagram every day looking at girls”. You can find the video on YouTube search for "Q&A #1: NAGA's CEO Ben interviews a top trader Alexherr" 3 June 21.

b) The drawdown calculation is false as it does not account for open trades
c) Trades are included in the stats that are copied by the trader from other traders, but then these are not copyable by the copy trader. So their stats are misleading
d) There are a number of other unexplained errors and inconsistencies showing ROIs for other copy traders that cannot mathematically be correct. All my enquiries to get these explained and get open trades data have been rebuffed

2. The conflicts of interest with the profit share i.e. the master trader receives a set fee of up to $1.20 for each trade that's closed in profit for over 5 minutes, regardless of its size or how many other trades are lost or stuck in the open trades (PnL). An example with the trader Alexherr is that he earns over $300k per week from his followers but he has $80k in open trades. So a copy trader who is told can earn $3k per week needs to have at least $80k in their account. The risk profile is very different - breakeven will take 6 months for a copier but for him 1.5 days. Recommendations are not easy to find or consistent and for this trader you have to sign up to a separate website and provide your email and home address. What is written there contains factual inaccuracies and misleading statements. The information for other traders is non-existent, inconsistent and sometimes changes dramatically. I was also told by an account manager in writing that copiers trade at the "same risks" as traders. This is evidently not the case.

3. There is a lack of appropriate controls. I witnessed an almost catastrophic accident with a huge trade being opened in my account. Stop Losses are recommended but frankly they are next to useless as the master traders don't appear to use them and given the above conflicts, the only way to make money is to not use them and pray you won't get wiped out overnight.

4. There is a programme of inducement. The advert I originally clicked on said: “Autocopy. No experience? No worries”. They have a demo account but you cannot practice copy trading without real money and there's an enticing message. One account manager (Ms Pretorian) said to me “don’t you pay for an education?”. She explained it was a deliberate policy.

5. Getting money out of NAGA is not straightforward and I was told incorrect things. I do not know if they are using my funds for other purposes.

I also checked out the reviews and it's clear that the 5 star ones have been solicited or seem suspicious in content. Users also complain on the "social" platform of NAGA deleting posts with their concerns.

I raised these concerns with NAGA and they rebuffed them. I am now taking matters up with the regulator to compensate me for my losses. If you are interested to know more please contact me. There are clearly a lot of others who have experienced the same thing.

Note that I'm still trying to get my funds out of NAGA. They are providing inconsistent, contradictory and non-believable responses why I cannot receive my funds to my verified system. I don't know what's going on but I think that they will be the next big scandal / blow-out before the end of the year. Nothing adds up
London, United Kingdom,
Mar 14, 2021,

Small time trader but happy with Naga

Service use: Live Length of use: 3-6 Months
I have been trading with Naga for a number of months now. Find them very good to work with. I am very definitely a small time trader, but enjoy the Naga experience.
As for Withdraws, once you meet their ID requirements then the process is straight forward and simple.
I do enjoy the Naga trading experience.
Mohammed Mustapha Zakari
Kano, Nigeria,
Feb 26, 2021,

Naga withdrawal

Service use: Live Length of use: 0-3 Months
I joined Naga some weeks ago, and I deposited some funds, but when I tried To withdraw my funds in crypto, they have yet to execute it, the support team has promised that soon my withdrawal will be executed, but that was since monday, I need NAGA to execute my withdrawal now, account name MMZAKA
David Love
Kansas city, USA,
Jan 29, 2021,


Service use: Other Length of use: Have not used
Was excited reading about you guys but after reading nothing but bad reviews and you guys having nothing but excuses and or no positive/productive responses back to your now I am guessing "Ex" customer's. I'll go and invest my 500$ where I think I will at least get it back if I'm unsatisfied with the services. Just saying it appears like that wouldn't happen with you guys. To bad though cause investing with you was what I really wanted to do.
Reply by nagainvesting submitted Jan 31, 2021:
Thank you for your comment David.
Before choosing a broker is always best to have a look at any reviews out there to get a general idea rather than focusing on one source. We believe that the best decisions are always made when one has all the facts reviewed and assessed as well as having a first-hand experience.

Choosing a broker is not an easy decision to make, with so many options available and especially when there is a lot at stake. At NAGA we strive to provide our community the best possible user experience and create additional value wherever possible with our various unique features.

Client Security is also paramount for NAGA. We always ensure that any activity taking place within our platform passes through all the safeguards in place and there are no exceptions for anyone.

We understand that sometimes people may be frustrated due to the time these processes take, or sometimes, people become agitated especially when they have something to hide and they are looking for a quick buy-out.

So, coming back to our main point of “choosing the right broker”, it’s always best to have all the information in front of you to make an informed decision. Sometimes there is more than meets the eye behind a review.

Thanks again for your comment.
jakarta, Indonesia,
Jan 12, 2021,
Registered user

Worst Broker

Service use: Live Length of use: 3-6 Months
takes 2 months to withdraw my money and after that they charge $10 / withdrawal.
that is a huge amount compare to others. Next time make sure to check those fees.
Reply by nagainvesting submitted Jan 14, 2021:
We are sorry to hear that you feel this way. We would like to investigate this further for you. Please contact us at
Additionally you can find an extensive list of our charges here:
Thank you
italy, Italy,
Nov 20, 2020,
Registered user

Naga ...initial deposit not returned !!! Scam !!!

Service use: Live Length of use: 0-3 Months
After closing my accounts Naga did not yet return my initial deposit !!
I send email but they did not answer !
It's not serious for Cysec regulated broker !
After posting new review I have no answer from company !
It's incredible !!!

Nov 17, 2020 - 1 Star Truly an abuse for a Cysec regulated company !!!
Suddenly the company closed my accounts and profile and did not even return not my profit nor my deposited funds.

Jul 29, 2020 - 1 Star I deposited on Naga broker, did some trades, on 22/07/2020 I applied for a small amount of withdrawal, less than my initial deposit, but today it was still not processed. I asked explenation but sopport just fine excuse like big processing code, department busy and bla bla bla to me and the are still holding all my money.

Jul 24, 2020 - 1 Star Hi, I did intial deposit, then traded on mt5. After some week and I applied for a withdrawal but they did not. My money are stuck there without any reason. The support and chat can say only excuse.

Reply by nagainvesting submitted Jul 29, 2020 We understand that at times, things may not move as smoothly as intended, however, as a regulated broker, please note that we cannot simply bend the rules or make exceptions without having additional due diligence be put in place.

We also understand that this can result to frustration at times and we empathise with that. However, please note that we do not tolerate abusive language used against any of our staff.

Our Support Team is here to help you throughout your trading journey and assist you with any technical issues you may experience with our solutions.

Before making any irreversible decisions, we kindly ask our community to simply contact our Support Team and they will be more than happy to assist you with your inquiry.

Have a great day!

Reply by nagainvesting submitted Nov 18, 2020 Hi Corrado,

Please note that our systems show that your last withdrawal was made on the 30th of July 2020.

At NAGA we strive to provide our traders with the highest standards of service excellence, ensuring that our clients remain satisfied throughout their trading journey.

We believe that everyone has the right to trade and we welcome constructive criticism as this allows us to review, revise and continuously improve our operating processes and procedures.

However, NAGA reserves the right to protect its trading community from any fraudulent tactics exercised in any of our trading channels. As previously advised, your account was suspended due to abusive trading.

If you have any questions regarding this decision please contact our Support Team at where they will be happy to assist you and provide you with any further clarifications you may require.

Have a great day!

Reply by nagainvesting submitted Nov 23, 2020:
Hi Corrado,
Thank you for providing us all with a copy of what we have already said. As previously advised we can confirm that your initial deposit was returned. If you have any more questions please feel free to contact our Support Team at
Team NAGA.
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