NAGA.com Review

1.759 · 37 REVIEWS
Updated: Sep 23, 2021 · Visit site  · Is this your company?

NAGA is a forex broker. NAGA offers the MT4 and Mobile forex trading top platform. NAGA.com offers over 45 forex currency pairs, ETFs, index cfds, stock cfds, futures, commodities, bitcoin and other cryptocurrencies for your personal investment and trading options.

NAGA.com
Other websites of this company include nagamarkets.eu, nagamarkets.com and nagatrader.com

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: support@naga.com, +44 20 3318 4345
Regional offices:
Regulators: CySEC #204/13
Prohibited countries:
Trading platforms: MT4, MT5, Naga Web and Mobile
Web Trading: Yes
Mobile Trading: Yes
Currencies: (45+)
Cryptocurrencies: (15+) Bitcoin, Litecoin, Ethereum
CFD: (735+) Gold, Silver, Stocks, Stock Indexes, Oil, Other Commodities
News Spike Trading: Yes
Scalping: Yes
Deposit Methods: Bank Wire, 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, VISA, MasterCard, Bitcoin, Bitcoin Cash, Dash, EPS, Ether/Ethereum, Giropay, iDEAL, Litecoin, Maestro, Neteller, Online Bank Transfer, Przelewy24, Skrill, SOFORT

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NAGA.com profile provided by nagainvesting, Jan 19, 2021

NAGA is a Social Trading Network similar to Facebook but for investors. NAGA offers a series of services and solutions all compiled in a simple, user-friendly interface that can be accessed through the dedicated mobile app or any web browser by visiting NAGA.com. NAGA also offers trading via MT4 and MT5 platforms for anyone who prefers a more traditional trading experience. Traders can trade across 48 different FX currency pairs and over 750 tradable assets including ETFs, Index CFDs, Stock CFDs, Futures, Commodities, Crypto CFDs as well as Real Stocks and Real Cryptocurrencies via its own Crypto Exchange and Crypto Wallet.

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1.759 · 37 REVIEWS
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Traders Reviews

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
 
Troy,
London, United Kingdom,
Mar 14, 2021,
Guest

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,
Guest

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,
Guest

"WAS EXCITED"

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 Feb 1, 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.
Team NAGA
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 15, 2021:
We are sorry to hear that you feel this way. We would like to investigate this further for you. Please contact us at support@naga.com.
Additionally you can find an extensive list of our charges here: https://naga.com/europe/trading/hours-and-fees
Thank you
Team NAGA
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!
NAGA Team

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 support@naga.com where they will be happy to assist you and provide you with any further clarifications you may require.



Have a great day!

Team NAGA

More. Community discussion of this issue >>

 
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 support@naga.com.
Team NAGA.
Budapest, Hungary,
Nov 5, 2020,
Registered user

Withdraw impossible

Service use: Live

Length of use: 3-6 Months

Company asking for various documents, does not respond to emails for weeks. Playing with time, not paying out.
 
Reply by nagainvesting submitted Nov 9, 2020:
Hi, Please provide us with your account information in order to look into this further for you.
Looking forward to your response.
NAGA Team
Italy, Italy,
Nov 5, 2020,
Registered user

The do not process withdrawal

Service use: Live

Length of use: 3-6 Months

Hi, my account is 6010725 under Cysec Regulation. Every time I try to withdrawal some money the broker do not process it. I waited more than 2 week for small amount of withdrawal and every time I contacted the support they just told me the same song "you have to wait, your withdrawal is in queue and bla bla bla"
My Account Manager. on NAGA: mr. Roman Biasin does not exist. Is transparent like a glass. He never replied to the email and help request i sent to him, he never replied on my phone call. He is totally useless.
 
Reply by nagainvesting submitted Nov 9, 2020:
Hi, we can see from our systems that your withdrawal has been processed successfully on the 5th of November 2020.
As a regulated broker NAGA has to abide by the regulations and all safeguards set in place by the regulatory authorities. Sometimes, this can result in delays and we empathize with that, however there is nothing we can do but wait as any other regulated broker.
NAGA Team
Milan, Italy,
Oct 20, 2020,
Registered user

Spread increased !!!

Service use: Live

Length of use: 0-3 Months

Spread increased !!!
Unfortunately the company increased the spread on German30 spot dax cash index from 20 to 26 without any advice to clients during this weekend. In the website the spread indicated is 19 .
 
Reply by nagainvesting submitted Oct 22, 2020:
Hi Francesco,
Are you referring to weekend trading in general, as spreads are wider during the weekend due to market liquidity.
Looking forward to your response.
NAGA Team
Paul,
Newzen, United Kingdom,
Oct 19, 2020,
Guest

SCAM! Withdrawing your money is impossible!

Service use: Live

Length of use: 0-3 Months

They need zero verification to take your money, the second you need to make a withdrawal, you need to jump through a number of hoops! And you still dont get your money! TOTAL SCAM BROKER!
 
Reply by nagainvesting submitted Oct 21, 2020:
Hi Paul,
Before leaving any reviews, especially negative ones that could potentially damage ones reputation, we always recommend to contact our support team first at support@naga.com and we will happily look into any issues you may experience.

In regards to your "zero verification claims", I would like to direct your attention to your client agreement, page 5, point 3 which states exactly the process of Account opening, and of which we are confident that you have read and understood before you signed but you may have most likely forgotten about.

As for the withdrawal process you can find more information in the same document, pages 28-31, point 19 and more specifically 19.3 and 19.6.

If you are experiencing any issues with withdrawing your funds, we would happily look into this further for you. All you need to do is send us an email at support@naga.com.

Have a great day,
Ev from NAGA
Tallinn, Estonia,
Sep 10, 2020,
Registered user

Cancel profits SCAM

Service use: Live

Length of use: 0-3 Months

My acc number is 5137540
Naga delete my profits linked on point 25.1.1 and 25.1.7 of agreement
It looks as:
use, without the prior and written consent of the Company, of any
software/system (e.g. Expert Advisor(s) and/or any automated data entry
system), and of any software/system, which applies artificial intelligence analysis
to the to the Company’s systems and /or Platform(s) and/or Client Account;

It is absolutely lie, all my deals placed manually
 
Reply by nagainvesting submitted Sep 15, 2020:
Hi powerpam,
We understand that at times, things may not move as smoothly as intended, however, as a regulated broker, NAGA is obligated to comply with the legal framework. We also understand that this can result to frustration at times and we empathise with that.
However, NAGA reserves the right to protect its trading community from any fraudulent tactics exercised in any of our trading channels. You can find more about our T&Cs at https://naga.com/europe/legal-documentation
Have a great day!
NAGA Team
Italy, Italy,
Aug 16, 2020,
Registered user

Deleted profits and stolen deposit

Service use: Live

Length of use: 0-3 Months

Nothing else to say. Pure scammers. Chat and support reply every time that they will ask others offices etc but at the end they don't give back even deposit. Also they blocked my account and deleted profits. Stay away.
 
Reply by nagainvesting submitted Aug 20, 2020:
Hi Giomantov,
Thank you for your comment. Unfortunately we cannot identify your account using your FPA username and therefore we cannot provide the FPA community with a constructive response to your claims. Please feel free to add this informaiton in a response and we would be more than happy to investigate this for you and provide a response through FPA.
Alternatively, you can also contact our Support Team at support@naga.com
Have a great day!
NAGA Team
Thailand, Thailand,
Aug 15, 2020,
Registered user

Fake Promotion and Not have Reason for anwser customer

Service use: Live

Length of use: 3-6 Months

They do not pay deposit bonuses as required.

Minimum 500 Deposit Accumulated


They do not answer and pay the bonus as advertised.

After making a deposit, it doesn't take care of the after-sales service at all. so Dissa[oint
 
Reply by nagainvesting submitted Aug 21, 2020:
Thank you for your comment taonetwo.
As already advised by our Support Team: in order to be awarded with the referral bonus there are specific actions your referral must do. For more information Please refer to our Referral Bonus Programme https://naga.com/assets/files/FriendsFamilyReferralProgramme.pdf
Have a great day!
NAGA Team
vietnam, Viet Nam,
Jun 26, 2020,
Registered user

SCAM

Service use: Live

Length of use: 0-3 Months

I made a deposit but could not withdraw it, they said I had withdrawn at least $ 50 but they did not process it, I sent an email but no one answered, please stay away if you do not want to lose money
 
Reply by nagainvesting submitted Jul 29, 2020:
Thank you for your comment.
We are sorry to hear you've had issues with withdrawal. If you are still experiencing the same problem please contact our Support Team at support@naga.com and they would be more than happy to assist you.

Have a great day!

NAGA Team
london, United Kingdom,
May 16, 2020,
Registered user

Naga scam

Service use: Live

Length of use: over 1 Year

They have stolen many members funds including mine 91000gbp+ disabled all messaging to stop complaints delete any post that mentions there on goings and are really need to be closed there platform has constant errors for traders always in there favour and they will tell you mt4 and mt5 under repair when there own support laughs at lies as fine just to make you trade on there sub par platform and incur more losses avoid at all costs

More. Community discussion of this issue >>

  1 trader has found this review helpful
Kuala Lumpur, Malaysia,
Apr 15, 2020,
Registered user

They should change their names too FEE MARKETS LTD

Service use: Live

Length of use: 0-3 Months

Full of fees charge for this and that. Fees for withdraw, fees for copytrading, and a big spread too.
 
Reply by nagainvesting submitted Jul 20, 2020:
Thank you for your comment.

Before choosing your Broker its always best to have a look at all the fees in place. Our team works hard in providing our trading community with the lowest fees possible for our services.

Our pricing information are publicly available for anyone to see, compare and make an informed decision here: https://naga.com/europe/trading/hours-and-fees/#

If you were to closely compare NAGA’s fees with other reputable Brokers, you would find that NAGA is in fact very competitive. More importantly, when you evaluate the level of services and amount of solutions that NAGA has within its versatile ecosystem, you will find that NAGA offers significantly more value.

Choosing to trade with NAGA gives you access to the most diverse social trading network on the planet. Using cutting edge technology, NAGA has seamlessly merged all markets under one user-friendly platform bringing everything and everyone
together.

Create a free demo account and experience everything NAGA has to offer today!

Have a great day!

NAGA Team
Pete. K,
Suffolk, United Kingdom,
Feb 26, 2019,
Guest

Good All Round Broker

I like them as an all in broker- if you want a broker where you can trade FX, Crypto and gaming on your phone then this is the one. I've withdrawn a few times and everything has been ok. The app is also decent, no slippage and good spreads. I would recommend them.
 
Reply by nagainvesting submitted Apr 17, 2019:
Thanks for the feedback, Pete!

-Annie
Spain, Spain,
Jan 20, 2019,
Registered user

10% of comission, its a scam.

Its a scam, if you ingress 200€, and then you withdraw, they charge to you 20€ (10%) of comission, notrecomended.
  1 trader has found this review helpful
Reply by nagainvesting submitted Apr 17, 2019:
Hi there,

Our withdrawal fees are stipulated on our website under Funding > Withdrawals and depend on payment method and account type. We also understand that in your particular case, withdrawal fees were waived.

Our team remains available to any queries or questions you may have.

-NAGA
Spain,
Jan 20, 2019,
Registered user

Scammers

Scammers, they do not return the money for free, although they indicate otherwise in their terms and conditions of service
  1 trader has found this review helpful
Reply by nagainvesting submitted Apr 17, 2019:
Hi,

Our withdrawal fees are stipulated both on our website under Funding > Withdrawals and in our Terms & Conditions. It is worth adding that in your particular case, the withdrawal fees was waived.

Furthermore, NAGA is an EU-regulated financial services provider and a subsidiary of a reputable, publicly-listed company, and not in any way a scam. Our clients, available to all on our open social trading platform, can attest to this too.

Our team remains available to any queries or questions you may have.

-NAGA
Spain, Spain,
Jan 19, 2019,
Registered user

Estafadores / They are scammers, they charge u for things that weren't in the initial agreement with them, untrustful company
  1 trader has found this review helpful
Reply by nagainvesting submitted Apr 18, 2019:
Hello,

All costs and fees are stipulated on both our site and in our Terms & Conditions. It is worth adding that in your case, the withdrawal fee was waived.

Furthermore, NAGA is an EU-regulated financial services provider and a subsidiary of a reputable, publicly-listed company, with many happy clients who use our publicly-open and accessible platform every day.

Our team remains available to any queries or questions you may have.

-NAGA
Madrid, Spain,
Jan 18, 2019,
Registered user

Scam

they do not pay affiliates, they charge withdrawal fees of 10 or 20 € that do not exist when opening the account. They do not take phone or answer email, scammers. Never, never open account
  1 trader has found this review helpful
Reply by nagainvesting submitted Apr 18, 2019:
Hello,

Our withdrawal fees are stipulated both on our website under Funding > Withdrawals and in our Terms & Conditions. It is worth adding that, as you're aware, our withdrawal fee was waived in your case.

Furthermore, NAGA is an EU-regulated financial services provider and a subsidiary of a reputable, publicly-listed company, and not in any way a scam.

Our team remains available to any queries or questions you may have.

-NAGA
Spain,
Jan 18, 2019,
Registered user

Bad

Mysteriously, they are charging withdrawal fees...why? I´m terribly dissapointed with Naga.
  1 trader has found this review helpful
Reply by nagainvesting submitted Apr 18, 2019:
Hi,

Our withdrawal fees are stipulated both on our website under Funding > Withdrawals and in our Terms & Conditions because there is a cost to transferring money. It is worth adding that in your particular case, the withdrawal fee was waived.

Our team remains available to any queries or questions you may have.

-NAGA
Spain,
Jan 18, 2019,
Registered user

SCAM

SCAM! They don't pay to afilliates! They only know to lie. Don't invest on this! They charge fees that don't appear in their conditions.
  1 trader has found this review helpful
Reply by nagainvesting submitted Apr 18, 2019:
Hello,

Our withdrawal fees are stipulated both on our website under Funding > Withdrawals and in our Terms & Conditions. It is worth adding that, as you're aware, the withdrawal fee was waived in your case.

Furthermore, NAGA is an EU-regulated financial services provider and a subsidiary of a reputable, publicly-listed company, and not in any way a scam.

Our team remains available to any queries or questions you may have.

-NAGA
Madrid, Spain,
Jan 18, 2019,
Registered user

Total fraud

Total fraud! They charge fees when they say there are no fees and wouldn’t pay for afilliates. There are platforms too way better than this to invest, just google it and you will see, don’t chop the bait and never trust them!
  1 trader has found this review helpful
Reply by nagainvesting submitted Apr 22, 2019:
Hi there,

Our withdrawal fees are stipulated both on our website under Funding > Withdrawals and in our Terms & Conditions. It is worth adding that, as you're aware, the withdrawal fee was waived in your case.

Furthermore, NAGA is an EU-regulated financial services provider and a subsidiary of a reputable, publicly-listed company, and not in any way a scam.

Our team remains available to any queries or questions you may have.

-NAGA
Spain, Spain,
Jan 18, 2019,
Registered user

They added fees that werent in terms.

Totally scam because they added fees that werent in the registration terms. Please avoid this site.
  1 trader has found this review helpful
Reply by nagainvesting submitted Apr 22, 2019:
Hi there,

Our withdrawal fees are stipulated both on our website under Funding > Withdrawals and in our Terms & Conditions. It is worth adding that, as you're aware, the withdrawal fee was waived in your case.

Furthermore, NAGA is an EU-regulated financial services provider and a subsidiary of a reputable, publicly-listed company, and not in any way a scam.

Our team remains available to any queries or questions you may have.

-NAGA