BrokAIr Reviews

Naga Review

"Naga is one of the few online brokerages that offers no-fee trading, yet it has been criticized for its high fees in other areas. How can one company provide both free and expensive services?"

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Overview of Naga

Introduction

Naga is an online broker founded by German entrepreneurs Benjamin Bilski and Yasin Sebastian Qureshi in 2015. It offers services for cryptocurrencies, stocks, ETFs, indices, commodities and Forex. The company has its headquarters in Frankfurt, Germany and is regulated by the German Financial Supervisory Authority (BaFin).

Pros and Cons

Naga's main advantages include: The main drawbacks of Naga are:

Public Opinion

Overall, the public opinion of Naga is quite positive. Most users appreciate the company's low minimum deposit requirement, wide range of assets, user-friendly platform and research tools. However, some users are critical of the lack of telephone support and MetaTrader 4 support.

Newsworthy Events

In 2017, Naga became the first German fintech company to be publicly listed on the Frankfurt Stock Exchange. In 2018, Naga acquired SwipeStox, a social trading app for cryptocurrencies and FX. In 2019, Naga launched its own cryptocurrency token (NGC) as part of its NAGA Wallet project. In 2020, Naga launched the NAGA Exchange, a regulated cryptocurrency exchange.