Even if a company lists licenses, a solid operational history, and other advantages, you should not blindly trust its claims. What if it turns out to be a scam? In the case of today’s subject of our review, this is unlikely, but verification is still necessary. NAGA is a brokerage platform founded in 2015 in Germany.
Brief Overview
- 🖥Official Website: https://naga.com/eu
- ✈️Contact Address: Suhrenkamp 59, 22335 Hamburg, Germany, Eurosure Tower, 3rd Floor, 2112 Nicosia, Cyprus
- 📞Customer Support: +35725041410, support@naga.com
- 🔐Licensing and Accreditation: CySEC, SFSA
- ⏳Track Record: 2015
- 🧰Specialization: brokerage service
- 🤝Terms of Cooperation: $250, 1:1000
- 💰Additional Services: copytrading, earn, education
Naga.com Examination
The broker’s official website appears standard. At the top of the page is the main menu:
- Buttons trade, invest, crypto, and pay.
- Social hub.
- Offering.
- Resources.
- Education.
- Company.
Next to it is a language switcher (a wide range of languages are supported, including Italian, Spanish, and others). On the right, you will find account login and registration options.
NAGA provides information about its licenses and partnerships — for example, with the well-known boxer Mike Tyson — along with legal details, trading conditions, and other relevant data. We found nothing suspicious or concerning. Overall, it is a standard official website, exactly what you would expect from any serious broker.
Company Contacts
To contact managers, you can use the following contact details:
- Phone: +357 25 041 410.
- E-mail: support@nagamarkets.com.
- Chat: available on the official website naga.com.
Customer support is available Monday through Friday from 07:30 to 02:00 Eastern European Summer Time (EEST).
Key Conditions
When it comes to trading conditions at NAGA, everything appears standard for a forex broker, but some aspects raise concerns. One such aspect is the tiered account structure based on the principle: “if you want better conditions, you need a larger deposit”. The company offers six account tiers, summarized as follows:
- Iron ($10+) — the most basic level with standard conditions: regular spreads, low payouts for copy trading, limited signals (5 per day), and no individual training.
- Bronze ($1,000) — essentially the same, but with slightly higher payouts, more signals, and added eBooks.
- Silver ($3,000) — includes the same eBooks, more signals (10 per day), and marginally better copy trading payouts (up to $0.70).
- Gold ($17,500) — improved spreads, 15 recommendations per day, one individual session, and premium eBooks.
- Diamond ($40,000) — 20 recommendations, two individual sessions per month; payouts up to $1.00 per copy trade, and spreads around 0.5 pips.
- Crystal ($90,000) — maximum privileges, including unlimited signals, payouts up to $1.20, and four individual sessions per month.
The deposit requirements are excessively high — access to better trading conditions is only granted after depositing tens of thousands of dollars. Enhanced spreads, trading signals, and educational sessions are sold by NAGA as “premium features”, which in itself contradicts the principle of equal access for all clients.
The broker offers floating spreads, averaging 1.7 pips. Commissions depend on the traded asset; for example, CFDs on stocks start from $2.50. Leverage is jurisdiction-dependent: 1:30 for traders under European regulation, and up to 1:1000 for offshore entities.
Exposing NAGA
We have examined the company — specifically its licenses, operational history, and legal details. There is no fakery or deception here. This is indeed a broker that operates legally and complies with regulatory requirements. However, there are still some aspects that should not be overlooked.
First, if you are not a resident of a country under EU regulation, you are in a higher risk category. Such clients will be working with an offshore legal entity, where high leverage of up to 1:1000 is offered and there is potential for market price manipulation.
Second, there is no clear information about the execution model (ECN, STP, MM), liquidity, or providers. Most likely, NAGA operates as a dealing desk, which means its profits come not only from commissions and spreads but also from client losses. Any trading failure on the client’s part becomes revenue for the platform. This creates a clear conflict of interest.
What Reviews Do Users Leave?
There are quite a few reviews of NAGA online — thousands, in fact, which shows that the company is well-known and not an obscure broker. This is not surprising, given that it has been in business for ten years.
However, most of the reviews are positive comments that look very similar. Moreover, they lack specific details: no descriptions of trading experience, no mention of profits or losses, and no real proof that the company operates flawlessly (such as timely withdrawals, non-interference with trading, or absence of manipulation). This strongly resembles fake positive reviews, which is another drawback.
Conclusions
This company is not suitable for everyone — it is more appropriate for European residents, as they are genuinely protected by regulators. In all other cases, it is a typical CFD broker with extremely high leverage and a questionable tiered account system. While NAGA is not an outright scam, it should still be approached with caution and care.
Pros/Cons
- Existence of CySEC and SFSA licenses, legal registration, and operations since 2015.
- Exaggerated deposit requirements for normal terms — from $17,500 to $90,000.
- Separation of clients by jurisdiction, which means offshore risks and 1:1000 leverage for non-residents of the EU.
- Conflict of interest.
- Unnaturally positive reviews without specifics; the possible publication of fake comments.
I’ve been using Naga for over six months; overall, the service operates stably. The platform is convenient, and I was able to withdraw funds, but it took almost three days. I trade manually and occasionally use the copy feature. My income is inconsistent. I still don’t understand why it takes tens of thousands of dollars to access decent conditions. I’m hesitant to upgrade my account status and am waiting to see how things develop.
After topping up my deposit, I was pressured to switch to a higher-tier account. They promised better spreads, signals, and training, but only with larger investments. Essentially, the company turns into a platform that constantly tries to extract more money from you. This is deeply concerning. I do not recommend it…
I tested the broker on a live account – my impressions were extremely disappointing. Order execution is slow, especially during news releases: slippage reaches 10–15 pips, and market orders can take 2–3 seconds to fill. Spreads on popular pairs like EUR/USD are inexplicably higher than advertised – up to 2.0–2.5 pips, which makes intraday trading nearly impossible. Scalping is out of the question. It feels like the platform is not designed for active traders at all.