NAGA vs - 2024 Comparison | FxScouts
AuthorAuthor: Björn MichelsUpdated: Nov 15, 2023

Last Updated On Nov 15, 2023

Björn Michels

Trading with a reputable online broker is a crucial factor for success in the international markets. At FxScouts, we help you find the broker that suits your trading needs.

Each year we spend thousands of hours testing brokers by opening accounts, testing their platforms, and rating them according to a set of over 200 metrics. We deposit real money with the brokers to ensure that the products and user experience they advertise are consistent with reality.

We have found that the best way for traders to choose a broker is to compare brokers side-by-side. The comparison tool below allows you to compare two brokers based on their ratings and features.

Select brokers to compare

Select brokers to compare

How do and NAGA stack up against each other?

The Radar Chart below highlights how the brokers stack up against each other across various metrics. The highest score a broker can receive in each area is 5.


At FxScouts, we help traders find the broker that suits their trading needs. In many cases, the best way to achieve this is to compare brokers side-by-side.

To compare and NAGA, we used the same factors we use when reviewing brokers: The trust and regulation of the broker, the trading platform, the costs and trading conditions, and the level of education and market analysis available at the broker.

Does or NAGA have a better trust and regulation rating?

Trust and regulation are some of the most important factors to consider when choosing a Forex broker. Trust in the Forex trading business is almost entirely founded upon regulation. We spend many hours evaluating the safety of each broker by delving into their fine print and confirming each one of their regulatory licences on the online registers. The more top-tier authorities a broker is regulated by, the higher its trust rating.

In our comparison, we found that holds four Tier 1 and no Tier 2 licences, and NAGA holds one Tier 1 and one Tier 2 licences.


Is financially regulated?

Yes was founded in 2001 and is regulated by ASIC, CIMA, CySEC, FCA and MAS.


Is NAGA financially regulated?

Yes NAGA was founded in 2015 and is regulated by BaFin and CySEC.


Based on these findings, earned a higher trust rating than NAGA.

Does or NAGA have lower costs?

Another important aspect we consider when comparing brokers is the cost of trading. When evaluating trading costs, we always consider the minimum deposit required to open an account and the ongoing trading costs, including the spreads and commissions. When calculating trading costs, we measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit. The cost includes both the spread and any commission charged. 

Not all brokers publish their trading costs, so we often open accounts and trade on their platforms to verify the spreads and commissions. Based on our reviews, we found that has overall lower trading costs than NAGA. 

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Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
110.5002.5/ 5
1.70 pips
USD 17
0.70 pips
2.00 pips
1.60 pips
111115/ 5
0.70 pips
0.70 pips
1.10 pips
1.40 pips


Does or NAGA offer a better choice of trading platforms?

Traders want Forex brokers to offer them a choice of trading platforms, so we give brokers who offer multiple platforms higher ratings. Trading platforms we consider include MetaTrader4, MetaTrader5, cTrader and proprietary mobile and web-based platforms. 

In this case, offers support for MT4, MT5, Web Trader and TradingView and NAGA offers support for MT4, MT5 and NAGA Web App. 

Do the brokers offer copy trading?

In this case both and NAGA offer copy trading.

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Platform Choice
Copy Trading
11110.54.5/ 5
NAGA Web App
11110.54.5/ 5 Web Trader


Which broker offers a better choice of trading instruments?

A variety of CFD instruments – and a large range of CFDs for each instrument category allow traders more opportunities for profitable trading. The best brokers will have thousands of CFDs to trade, covering all these instrument categories. We found that offers a greater range and depth of instruments to trade than NAGA. offers 91 Forex pairs to trade and NAGA offers 47 Forex pairs to trade.

Toplist Forex Pairs

And what about Cryptocurrencies?

In this case, NAGA offers 30 cryptocurrencies while offers 8 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with NAGA.

Which broker offers better deposit and withdrawal processes?

Although brokers may have reasonable trading fees, many traders are caught out by the high non-trading fees charged by some brokers, including deposits and withdrawals. Traders want to be able to deposit and withdraw funds quickly and cheaply. Most brokers have multiple funding methods with zero fees for making deposits, but some brokers make it more expensive and take longer to process withdrawals. 

We rate brokers more highly that process withdrawals within 24 hours by multiple withdrawal methods and without charging processing fees. We found that both and NAGA charges a withdrawal fee. Overall, has better deposit and withdrawal processes than NAGA. 

Which broker offers better educational support?

We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas. has better educational support than NAGA. Both and NAGA offer educational support for more experienced traders.

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Beginner Course
Advanced Course


Which broker offers better market analysis materials?

To successfully predict the price movements of an instrument, traders will need access to frequent market research and analysis. We find that research and market analysis are always better when they are produced in-house and updated frequently. Third-party resources don’t show the same expertise in trading ideas, so we place a strong emphasis on frequent in-house updates. Some brokers also often offer interactive webinars where traders can learn from experts in the field. 

We found that offers better research analysis than NAGA and that both and NAGA offer frequent webinars.

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Economic Calendar
Trading Central
Trading View
Free VPS


Our overall Verdict on

Founded in 2001, is a well-regulated broker with high minimum deposits and low fees that is more suited to serious beginners and more experienced traders. Beginners with low minimum deposits will be put off by the high trading costs on's entry-level Standard and MT5 accounts. But experienced traders will be interested in the Commission and DMA accounts, with minimum deposits of 100 USD and 25,000 USD respectively. These accounts have some of the most competitive spreads (0.0 pips on the EUR/USD) combined with some of the lowest commissions in the industry. provides support for MT4, MT5, and its own trading platform and experienced traders will appreciate the range of trading tools on offer, including Autochartist, Trading Central, Trading View, SMART Signals, and subsidised VPS hosting.  

Education and market analysis are both excellent and experienced traders will appreciate the wide range of tradable assets, including over 91 currency pairs, 4500 share CFDs, commodities, indices, precious metals, and cryptocurrencies.

Overall, ticks all the boxes for those with higher minimum deposits looking for a wide range of assets to trade and a choice of trading platforms.

Our overall Verdict on NAGA

With its popular proprietary social trading platform, NAGA will appeal to beginner traders who enjoy learning how to trade from each other.  However, NAGA’s minimum deposits and ongoing trading costs are higher than other similar brokers.

With a focus on social trading, NAGA’s web app allows its customers to copy the trades of top traders, who then earn a commission on each profitable trade.  The platform is easy to set up and use and traders have access to multiple technical analysis and charting tools. Trading is also offered on MT4 and MT5 for traders who prefer the industry-standard platforms.  

NAGA offers a single account and trading on over 950 assets, including Forex, commodities, indices, futures, ETFs, stock CFDs, and cryptocurrencies.  With increasing minimum deposits, traders can access higher account tiers, tighter spreads, and more account benefits.

Trading conditions are generally poor compared to other market makers, with spreads that start at 1.70 pips on the EUR/USD in exchange for a minimum deposit of 250 USD on its lowest account tier.  Spreads tighten to 0.7 pips (EUR/USD) on its highest account tier, but this is in exchange for a minimum deposit of 100,000 USD, making it inaccessible to most traders.  

NAGA’s educational and market analysis materials are average compared to other similar brokers, but beginner traders will get a good feel for the basics of Forex trading.

Which broker has the highest overall rating? has an overall rating of 4.62 and NAGA has an overall rating of 3.68. For more detail please read our reviews of and NAGA.

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