NAGA Markets is a brokerage offering forex, commodities, stocks, indices, and ETF trading services for investors. Their official website, https://nagamarkets.com/, supports English, German, Dutch, Spanish, Portuguese, Italian, Polish, and Czech as languages. The account registration page supports Simplified Chinese, Traditional Chinese, English, German, Dutch, Spanish, Portuguese, Italian, Polish, and Czech.
Company Background:
Information on the NAGA Markets website shows that the company is registered in Cyprus. A search on the Cyprus Companies and Intellectual Property Registration Office (Companies Section) confirms that the registration information is accurate. Additionally, a Whois search reveals the domain was registered on July 5, 2017, and has been active for over 6 years.
Account Registration:
The NAGA Markets website provides investors with links to register for real and demo accounts. To register a real account, click "SIGN UP" at the top right, or "Start Trading" on the left of the NAGA Markets website. Then, follow the instructions to enter your Email, password, and country or region. For demo accounts, click "free access to Demo" and follow the same steps. The registration page supports Simplified Chinese, Traditional Chinese, English, German, Dutch, Spanish, Portuguese, Italian, Polish, and Czech.
Account Types:
NAGA Markets offers six account types for investors: IRON, BRONZE, SILVER, GOLD, DIAMOND, and CRYSTAL. The website also provides information about their respective minimum deposit amounts, spreads, commissions, and fees for deposits and withdrawals.
Trading Products:
NAGA Markets offers trading services in forex, commodities, stocks, indices, and ETFs. The website provides details on overnight interest rates, spreads, and specific trading products covered. However, it does not provide information on commissions or trading hours for these products.
Margin Ratios:
While the NAGA Markets website does not specify margin ratio differences among account types, it does provide margin information for specific trading products under "Trading Products," covering forex, commodities, stocks, indices, and ETFs.
Trading Hours:
NAGA Markets does not provide information on trading hours for forex, commodities, stocks, indices, and ETFs.
Deposits and Withdrawals:
NAGA Markets supports over a hundred deposit methods, including VISA, Mastercard, Maestro, Diners, Discover, PayPal, Eps, Skrill, Neteller, wire transfers, and direct bank transfers. Withdrawals are supported through VISA, VISA Electron, MasterCard, Maestro, Neteller, and Skrill. The website also provides details on supported currencies, fees, and transaction times for different methods.
Trading Software:
NAGA Markets offers MetaTrader 4 (MT4), MetaTrader 5 (MT5), and their proprietary NAGA trading software for investors. These software platforms are available for desktop (Windows/MacOS), web, and mobile (iOS/Android). However, there are some issues with installing or downloading MT4, MT5, and NAGA software on Android in certain countries or regions.
Additional Services:
NAGA Markets offers social trading, free education, and news analysis. Social Trading allows investors to copy or use strategies from other traders. Free education includes e-books and webinars about financial markets, research, and investment trading. News analysis covers market insights, hot news, economic calendars, and market analyses.
Regulatory Information:
The NAGA Markets website states that the company is regulated or authorized by the Cyprus Securities and Exchange Commission (CySEC). A search on CySEC's website confirms this regulatory information is accurate. The company complies with the EU's Markets in Financial Instruments Directive II (MiFID II), Market in Financial Instruments Regulation (MiFIR), and Cyprus's 2017 Investment Services and Activities and Regulated Markets Law (Law 87(I)/2017).
Conclusion:
NAGA Markets is a properly functioning brokerage. While the website does not provide trading hours for specific forex, commodities, stocks, indices, and ETF products, the information verified through the Cyprus Companies and Intellectual Property Registration Office and CySEC indicates NAGA Markets operates legitimately. Always ensure the safety of your assets to avoid falling into scams.
