NAGA does offer a free demo trading account for beginners to start training on. Practice forex trading in a 100% risk-free environment. A demo account is rewarded with $10 000 to apply towards trading practice.
NAGA at a Glance
| 🔎 Broker's Name | NAGA |
| 📍 Headquartered | Frankfurt, Germany |
| 📅 Year Founded | 2015 |
| ⚖️ Regulating Authorities | CySEC |
| 📌CySEC No | License No. 204/13 |
| US Clients Accepted | No |
| 👍 Demo Account | Yes |
| 💰 Minimum Deposit | $ 250 / R 4000 ZAR |
| 🌐 Spreads | 0.7 pips - 2.5 pips |
| 🌐 Commission | 0.10% - 0.20% |
| 🌐 Fees | 1.15€ - 4.99€ |
| 📊 Accounts | Demo account, Standard Account, Professional account |
| 📎 Bonus | No Sign-up bonus |
| ☪️ Islamic account (swap-free) | No |
| 📊 Institutional Accounts | Yes |
| 📊 Managed Accounts | Yes |
| 📈 Maximum Leverage | 30:1 |
| 💳 Deposit Options | Visa, Mastercard, Maetro, Skrill, Neteller, SOFORT, GiroPay, EPS, iDEAL, Przelewy, Trustly, BankWire |
| 💳 Withdrawal Options | Visa, Mastercard, Maetro, Skrill, Neteller, SOFORT, GiroPay, EPS, iDEAL, Przelewy, Trustly, BankWire |
| 💻 Platform Types | MT4, MT5, NAGA Web |
| 📱 OS Compatibility | PC, smartphones, web |
| 📈 Tradable assets offered | Currencies, Commodities, Indices, Stocks, Crypto, Futures |
| 👨💼 Languages supported on Website | English, German, Italian, Portuguese, Polish, Czech, Malay, Chinese, Vietnamese, Arabic, and more. |
| 👥 Customer Support Languages | English, German, Italian, Portuguese, Polish, Czech, Malay, Chinese, Vietnamese, Arabic, and more. |
| 📆 Customer Service Hours | 24/5 |
| 🔎 Open an Account | 👉 Click Here |
Min Deposit USD 250 Regulators CySEC Trading Platform MT4, MT5, NAGA Web Crypto Yes Total Pairs 45 Islamic Account Yes Trading Fees Low Account Activation 24 Hours
NAGA Demo Account – 7 key points quick overview:
- ✔️NAGA at a Glance
- ✔️NAGA Overview
- ✔️Naga Demo Account Features
- How to set up a NAGA Demo Account – Step by Step
- NAGA Pros and Cons
- NAGA Conclusion
- Frequently Asked Questions
NAGA Overview
A forex demo account is also referred to as a practice account, which is used for practicing trading or to test a new trading strategy without any risk to actual money.
A forex demo account is also intended for beginners to get familiar with the various aspects of trading.
As such, a demo account will allow traders to learn how to place orders, manage existing trade positions as well as more advanced functions such as testing or fine-tuning a trading strategy.
If you are new to trading, then it is highly recommended that you first open a forex demo account until you are comfortable with both your trading strategy as well as the intended trading platform itself.
Naga Demo Account Features
- The demo account from Naga is funded with $10 000 in virtual currency to allow users to test trade the broker’s features and tools in a risk-free environment.
- Importantly, the demo account provides access to the broker’s trading platforms, including MetaTrader 4 and the proprietary Naga Web App. However, Naga’s copy trading features will not be available on the demo account, as these require access from a live account.
- Profits made on the demo account cannot be withdrawn. The demo account from Naga does not appear to expire, allowing traders sufficient time to become acquainted with Naga’s trading conditions before signing up for a real account.
How to set up a NAGA Demo Account – Step by Step
1. Step 1 – Web selection
Click on the Sign-Up button located at the top right-hand section of the landing page
2. Step 2 – Complete information
Complete the online registration form. You will have to provide your full name, email address, country of residence, and create a password.
3. Step 3 – Demo account creation
Upon submission of your online registration form, a demo account will be created for you by default. You can begin trading on the demo account before creating a live account.
Min Deposit USD 250 Regulators CySEC Trading Platform MT4, MT5, NAGA Web Crypto Yes Total Pairs 45 Islamic Account Yes Trading Fees Low Account Activation 24 Hours
NAGA Pros and Cons
| ✔️ Pros | ❌ Cons |
| Investors Compensation Fund (ICF) | No US clients |
| Provide a personal trading assistant | Restricted leverage for non-professional clients |
| Various education instruments | Option of only one account for all |
| Strict regulations | A limited selection of deposit currencies |
| Well-regulated broker with high deposit security | Withdrawal fees charged |
| No deposit fees | Copy-trading features are not available on the demo account |
| Excellent customer support | Wide spreads |
| Easy demo sign-up process | Additional trading fees |
| Full demo access to MT4 | Limited deposit currencies |
| Advanced copy trading software available | |
| MT4 and MT5 available | |
| Provide support in multiple languages |
NAGA Conclusion
NAGA does offer a free demo trading account for beginners to start training on. Practice forex trading in a 100% risk-free environment. A demo account is rewarded with $10 000 to apply towards trading practice.
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Frequently Asked Questions
Can traders from South Africa open a NAGA demo account?
Yes, South African traders can open a demo account with NAGA.
Is the NAGA demo account the same as a real trading account?
The NAGA demo account mimics the real live trading environment and is funded with virtual money. Traders, especially beginner traders, who experiment with NAGA for the first time should keep in mind that results obtained from a demo trading account tends to be subjective.
How long is the NAGA demo account valid?
The demo account is available for an unlimited time.
Is the NAGA demo account rigged?
Our practice round with the NAGA demo account did not reveal anything to suggest that the account is rigged.
Can you withdraw money from the NAGA demo account?
No, you cannot withdraw money from this account. When you start making a profit for a while with a demo trading account, consider upgrading to a real live trading account.
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