Compare AvaTrade vs NAGA
What is AvaTrade? What is NAGA?
AvaTrade is a well-established online broker that specializes in CFD trading, offering a wide range of instruments, platforms, and educational resources. NAGA is a German fintech company that focuses on social trading, allowing users to copy or follow other traders, as well as trade a variety of assets, including real stocks and cryptocurrencies.
AvaTrade vs NAGA Regulation Comparison
AvaTrade is regulated by several reputable authorities, such as FSCA, ASIC, IIROC, FSC, FSA, and CBI. NAGA is regulated by CySEC, a Cyprus-based regulator. Both brokers do not offer client protection schemes.
AvaTrade vs NAGA Trading Assets Comparison
AvaTrade offers more than 250 CFD products, including forex, commodities, indices, stocks, ETFs, bonds, options, and cryptocurrencies. NAGA offers over 1000 financial products, including real stocks, ETFs, forex, commodities, indices, futures, options, and cryptocurrencies.
However, NAGA does not clearly distinguish between real ETFs and CFD ETFs, and does not offer commission-free stock trading.
AvaTrade vs NAGA Trading Fees Comparison
AvaTrade charges zero commissions and low spreads on its CFD trades. The average spread for the EUR/USD pair is 0.6 pips. NAGA also charges zero commissions and low spreads on most of its trades. The average spread for the EUR/USD pair is 1 pip. However, both brokers charge inactivity fees and currency conversion fees. NAGA also charges up to $5 in withdrawal fees.
AvaTrade vs NAGA Account Types Comparison
AvaTrade offers two main account types: Retail and Professional. Retail accounts have lower leverage and higher margin requirements than Professional accounts. Professional accounts are only available for traders who meet certain criteria of experience, knowledge, and net worth.
NAGA offers three account types: Iron Trader (the basic account), Gold Trader (the intermediate account), and Diamond Trader (the premium account). The account types differ in terms of spreads, commissions, swap discounts, and other benefits.
AvaTrade vs NAGA Deposit Options Comparison
AvaTrade supports various deposit and withdrawal methods, such as bank transfer, credit/debit cards, Skrill, Neteller, PayPal, WebMoney, and more. The minimum deposit is $100 for most methods.
NAGA also supports multiple deposit and withdrawal methods, such as bank transfer, credit/debit cards, Skrill, Neteller, UnionPay, WebMoney, NGC (NAGA coin), and more. The minimum deposit is $250 for most methods. NAGA also offers a NAGA Mastercard that allows users to access their funds easily.
AvaTrade vs NAGA Trading Platforms Comparison
AvaTrade provides access to a range of powerful trading platforms and tools, such as MetaTrader 4 (MT4), MetaTrader 5 (MT5), AvaTradeGO (a mobile app), AvaOptions (a platform for trading options), AvaProtect (a risk management tool), AvaSocial (a social trading app), DupliTrade (a copy trading platform), ZuluTrade (another copy trading platform), and more.
NAGA also offers several trading platforms and tools, such as MT4, MT5, NAGA WebTrader (a web-based platform), NAGA Mobile App (a mobile app), NAGA Protector (a risk management tool), NAGA Portfolios (a portfolio management tool), NAGA Wallet (a cryptocurrency wallet), and more.
AvaTrade vs NAGA Analytical Tools Comparison
AvaTrade offers various analytical tools and resources to help traders make informed decisions and improve their skills. These include market news and analysis, economic calendar, trading calculators, trading signals from MQL5 community experts, Autochartist (a technical analysis tool), Sharp Trader (an educational portal), webinars, videos, eBooks, articles, and more.
NAGA also offers some analytical tools and resources to help traders learn and grow. These include market news, economic calendar, trading signals from Trading Central (a technical analysis tool), webinars, videos, eBooks, articles, blog posts, podcasts, and more.
AvaTrade vs NAGA. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker is a personal decision that depends on your trading style, goals, preferences, and risk appetite. There is no definitive answer to which forex broker is better, as different brokers may suit different traders better. However, here are some possible factors that you may want to consider when comparing AvaTrade vs NAGA:
- Regulation: AvaTrade is regulated by more authorities than NAGA, which may indicate a higher level of trustworthiness and security. However, neither broker offers client protection schemes, which means that your funds may not be covered in case of insolvency or fraud.
- Trading Assets: Both brokers offer a wide range of trading assets, including forex, commodities, indices, stocks, ETFs, options, and cryptocurrencies. However, AvaTrade only offers CFD products, while NAGA offers both real stocks and CFD products. If you are interested in owning the underlying assets or trading commission-free stocks, you may prefer NAGA. If you are only interested in speculating on price movements or trading with leverage, you may prefer AvaTrade.
- Trading Fees: Both brokers charge zero commissions and low spreads on most of their trades. However, both brokers also charge inactivity fees and currency conversion fees. NAGA also charges up to $5 in withdrawal fees. You may want to compare the fees for the specific instruments and currencies that you plan to trade and choose the broker that offers the best value for your money.
- Account Types: AvaTrade offers two main account types: Retail and Professional. Retail accounts have lower leverage and higher margin requirements than Professional accounts. Professional accounts are only available for traders who meet certain criteria of experience, knowledge, and net worth. NAGA offers three account types: Iron Trader (the basic account), Gold Trader (the intermediate account), and Diamond Trader (the premium account). The account types differ in terms of spreads, commissions, swap discounts, and other benefits. You may want to choose the account type that matches your trading level and needs.
- Deposit and Withdrawal Options: Both brokers support various deposit and withdrawal methods, such as bank transfer, credit/debit cards, Skrill, Neteller, PayPal, WebMoney, UnionPay, NGC (NAGA coin), and more. The minimum deposit is $100 for most methods for AvaTrade and $250 for most methods for NAGA. NAGA also offers a NAGA Mastercard that allows users to access their funds easily. You may want to choose the broker that offers the most convenient and cost-effective payment options for you.
- Trading Platforms: Both brokers provide access to a range of powerful trading platforms and tools, such as MetaTrader 4 (MT4), MetaTrader 5 (MT5), web-based platforms, mobile apps, risk management tools, social trading apps, copy trading platforms, portfolio management tools, cryptocurrency wallets, and more. You may want to test out the platforms and tools that each broker offers and see which ones suit your trading style and preferences better.
- Analytical Tools: Both brokers offer various analytical tools and resources to help traders make informed decisions and improve their skills. These include market news and analysis, economic calendar, trading calculators, trading signals from third-party experts , technical analysis tools , educational portals , webinars , videos , eBooks , articles , blog posts, podcasts, and more. You may want to explore the quality and quantity of the educational and analytical materials that each broker provides and see which ones are more helpful and relevant for you.
Ultimately, the best forex broker for you is the one that meets your trading needs and expectations.