NAGA

Is NAGA safe and legit？ Full review

NAGA is a Cyprus-based broker established in 2019, regulated by the Cyprus Securities and Exchange Commission and the Seychelles Financial Services Authority, with a safety level of Level 1. It offers six account types — CRYSTAL, DIAMOND, GOLD, SILVER, IRON and BRONZE — with minimum deposits ranging from $250 to $100,000, and every account permits lock-up positions, scalping and EA trading. Trading runs on the MT5 platform under a Full License MT4/5 qualification, and customer service covers 8 languages across 3 regions. Its influence rating is A. Alongside being regulated by multiple regulators and offering multiple account types, the broker carries multiple disclosures and a high number of user complaints, and it does not provide biometric login.

Basic Information

Regulatory Compliance and Security

NAGA operates under dual supervision. Its Cyprus license is held by Naga Markets Europe Ltd, and its Seychelles license is held by NAGA Capital Ltd. The Cyprus Securities and Exchange Commission entry is a regulated license, while the Seychelles Financial Services Authority entry is offshore regulation. The overall safety level is Level 1.

Account Type

NAGA offers 6 account types.

Trading software

NAGA uses the MT5 trading platform, and the software qualification is Full License MT4/5. The platform is highly customizable, available in multiple languages, and provides clear expense reports and a good search function, but it lacks two-step login and biometric authentication. The software experience is rated Perfect.

MT4/5 Server Distribution:

• MT5: NAGACapital-Live (Germany), NAGACapital-Demo (United Kingdom), NagaMarkets-Live (Germany), NagaMarkets-Demo (United Kingdom)
• MT4: NagaMarkets-Live (Germany, United Kingdom), NagaMarkets-Demo (United Kingdom), NagaMarkets-Live02, NagaMarkets-Demo02

Mobile Support:

• iOS, Android, Windows, macOS, Web and other applications are not supported.

Customer Service

NAGA's customer service supports 8 languages and 3 regions. You can reach the team by phone, email and IM app for answers to most inquiries, but response times may be lengthy.

Influence

NAGA holds an influence rating of A, with its influence mainly distributed in the United Arab Emirates, Argentina, Austria, Australia, Bangladesh, Belgium, Bulgaria, Bahrain, Brazil and Canada, and an average influence index of 7.53.