NAGA: traders’ reviews in 2022
NAGA: trader reviews in 2022
NAGA is a brand of a German fintech corporation, which includes several subsidiaries: NAGA Markets Europe Ltd, NAGA Global Ltd, and others. The company, existing since 2015, is represented in more than 100 countries and plans to expand the geography of its presence. We have studied what opportunities NAGA provides for traders from Russia, what reviews there are about this broker, and whether it is worth dealing with it.
Development history and features of NAGA
At the beginning of its journey, the company acted as a traditional broker, but subsequently significantly expanded its range of services. Currently, NAGA is a multi-platform with a social network, a cryptocurrency exchange, and virtual banking. The company has offices in various regions of the world and actively seeks to increase its presence in different countries.
The NAGA website is complex, with a branching information search system. Despite multilingual service, the Russian language is absent in language settings and customer support.
The company actively develops its community and strives for openness and transparency in customer relations. However, some users from Russia complain about problems accessing support and the lack of response to their inquiries.
Regulation in different regions
NAGA’s subsidiaries have licenses from various regulators depending on the region. However, NAGA Global LLC, registered in Saint Vincent and the Grenadines, is not regulated in the forex brokerage area. This may create a risk for traders as their interests are not protected.
In Russia, NAGA has not obtained licenses as it does not provide services to Russian clients. Nevertheless, the possibility of registration for Russians technically exists, but this implies working with an unregulated intermediary.
Trading opportunities
NAGA Global LLC offers trading conditions that are not always advantageous: average spreads, leverage, lack of bonuses, and other conditions may not satisfy traders. Fund operations are possible only through cryptocurrency wallets as most payment services are blocked.
Users can use standard services such as a demo account, access to tools, and use of MT4/MT5 platforms, but there are restrictions and unfavorable conditions.
Reviews of NAGA in the Russian-speaking Internet
In the Russian-speaking Internet, users express negative opinions about the quality of support and trading conditions with NAGA. Some traders complain about losing funds due to technical issues and unsatisfactory service.
Why trading with NAGA is disadvantageous?
Traders from countries where NAGA does not officially provide services may encounter problems when collaborating with the company. Poor trading conditions, technical glitches, and lack of support can lead to negative consequences for clients.
NAGA, not officially providing services to Russian clients, does not guarantee security and satisfactory conditions for traders from Russia.
Expert assessment of NAGA
The global broker NAGA is not recommended for traders from Russia due to the lack of official service provision and unfavorable trading conditions. User reviews indicate a negative experience of cooperation with this company.