Compare Eightcap vs NAGA
What is Eightcap? What is NAGA?
Eightcap is an online broker that offers trading services for forex, indices, commodities, shares, and cryptocurrencies. It was founded in 2009 and is regulated by the Australian Securities and Investments Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC).
NAGA is a social trading platform that allows users to trade, invest, and copy other traders across various markets, including forex, stocks, ETFs, commodities, and cryptocurrencies. It was founded in 2015 and is regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Authority (FSA) of Seychelles.
Best Forex Brokers Ranking
| Rank | Broker | Review | Open Account | Bonus | Platform | Minimum Deposit | ECN |
|---|---|---|---|---|---|---|---|
| 1 | Exness |  | Open Exness account | 16$/lot | MT4, MT5, Exness, ... | 1$ | 10$ |
| 2 | IC Markets | | Open IC Markets account | - | MT4, MT5, cTrader | 200$ | 200$ |
| 3 | XM | | Open XM account | 30$ | MT4, MT5 | 5$ | - |
| 4 | XTB | | Open XTB account | 2000$ | MT4, xStation 5 | 1$ | 1$ |
| 5 | FBS | | Open FBS account | 140$ | MT4, MT5, FBS Trader | 1$ | 1000$ |
Eightcap vs NAGA Regulation Comparison
Both Eightcap and NAGA are regulated by reputable authorities in their respective jurisdictions. However, NAGA has an edge over Eightcap in terms of regulatory protection, as it offers negative balance protection and participates in the Investor Compensation Fund (ICF) for its CySEC-regulated clients. Eightcap does not offer negative balance protection or any compensation scheme for its clients.
Eightcap vs NAGA Trading Assets Comparison
Both Eightcap and NAGA offer a wide range of trading assets for their clients. However, NAGA has a slight advantage over Eightcap in terms of asset diversity, as it offers more than 950 instruments across 10 markets, while Eightcap offers more than 200 instruments across 5 markets.
Specifically, NAGA offers 47 forex pairs, 600+ stocks, 30+ ETFs, 15 commodities, 10 indices, and 10 cryptocurrencies. Eightcap offers 46 forex pairs, 100+ stocks, 6 commodities, 15 indices, and 5 cryptocurrencies.
Eightcap vs NAGA Trading Fees Comparison
Both Eightcap and NAGA charge competitive fees for their trading services. However, the fee structure may vary depending on the account type, market, and instrument chosen by the client.
Generally speaking, Eightcap charges lower spreads and commissions than NAGA for forex and indices trading. For example, the average spread for EUR/USD is 0.0 pips with a $3.5 commission per lot on the Raw account at Eightcap, while it is 1.2 pips with no commission on the Iron account at NAGA. The average spread for US30 is 1.6 pips with a $3.5 commission per lot on the Raw account at Eightcap, while it is 4 pips with no commission on the Iron account at NAGA.
On the other hand, NAGA charges lower fees than Eightcap for stocks and cryptocurrencies trading. For example, the commission for US stocks is 0.10% with a minimum of $0.01 per share at NAGA, while it is $6 per trade at Eightcap. The average spread for BTC/USD is $30 at NAGA, while it is $40 at Eightcap.
Both brokers charge swap fees for holding positions overnight, as well as inactivity fees for dormant accounts. However, NAGA also charges a monthly service fee of €10 for accounts with less than €500 balance or no trading activity in the past month
Eightcap vs NAGA Account Types Comparison
Both Eightcap and NAGA offer different account types to suit the needs and preferences of their clients. However, the account features may vary depending on the broker’s regulation and jurisdiction.
At Eightcap, clients can choose between two account types: Standard and Raw. The Standard account has no commission but higher spreads, while the Raw account has lower spreads but a commission of $3.5 per lot per side. The minimum deposit for both accounts is $100.
At NAGA, clients can choose between four account types: Iron, Bronze, Silver, and Gold. The Iron account has no commission but higher spreads and swap fees, while the other accounts have lower spreads and swap fees but a commission of $4 per lot per side. The minimum deposit for the Iron account is $250, while it is $2,500 for the Bronze account, $5,000 for the Silver account, and $25,000 for the Gold account. The higher-tier accounts also offer additional benefits such as lower service fees, free withdrawals, personal account managers, and VIP webinars
Eightcap vs NAGA Deposit Options Comparison
Both Eightcap and NAGA offer various deposit and withdrawal options for their clients. However, the availability and cost of these options may vary depending on the broker’s regulation and jurisdiction.
At Eightcap, clients can deposit and withdraw funds via bank wire transfer, credit/debit card, Skrill, Neteller, Poli, and FasaPay. There are no fees for deposits or withdrawals at Eightcap, except for bank wire transfers which may incur intermediary bank fees. The processing time for deposits is instant for most methods, except for bank wire transfers which may take up to 5 business days. The processing time for withdrawals is up to 24 hours for most methods, except for bank wire transfers which may take up to 5 business days.
At NAGA, clients can deposit and withdraw funds via bank wire transfer, credit/debit card, Skrill, Neteller, Klarna, Trustly, Przelewy24, Rapid Transfer, Giropay, EPS, iDeal, Multibanco, and cryptocurrencies. There are no fees for deposits at NAGA, except for bank wire transfers which may incur intermediary bank fees. There are fees for withdrawals at NAGA, ranging from €0.50 to €10 depending on the method. The processing time for deposits is instant for most methods, except for bank wire transfers which may take up to 5 business days. The processing time for withdrawals is up to 24 hours for most methods, except for bank wire transfers which may take up to 5 business days
Eightcap vs NAGA Trading Platforms Comparison
Both Eightcap and NAGA offer the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms for their clients. These platforms are available in desktop, web, and mobile versions. They offer advanced charting tools, technical indicators, trading signals, market news, and automated trading capabilities.
In addition to MT4 and MT5, NAGA also offers its own proprietary platform called NAGA Trader. This platform is a social trading network that allows users to interact with other traders, copy their trades, participate in tournaments, earn rewards, and access educational resources
Eightcap vs NAGA Analytical Tools Comparison
Both Eightcap and NAGA provide various analytical tools for their clients to enhance their trading performance. However, the quality and quantity of these tools may vary depending on the broker and the platform chosen by the client.
At Eightcap, clients can access market analysis, economic calendar, trading calculator, trading signals from MQL5 community (for MT4 users), and trading central (for MT5 users).
At NAGA, clients can access market analysis, economic calendar, trading calculator (for MT4 users), trading signals from MQL5 community (for MT4 users), AutoCopy service (for NAGA Trader users), NAGA Protector (a risk management tool), NAGA Academy (an educational platform), and NAGA Wallet (a multi-currency crypto wallet)
Eightcap vs NAGA. Which forex broker is better? Which forex broker should you choose?
There is no definitive answer to which forex broker is better or which one you should choose, as it depends on your personal preferences, trading goals, and risk appetite. However, you can consider some of the following factors to help you make an informed decision:
- Regulation and Protection: If you value regulatory protection and security of your funds, you may prefer NAGA over Eightcap, as NAGA offers negative balance protection and participates in the Investor Compensation Fund (ICF) for its CySEC-regulated clients . Eightcap does not offer negative balance protection or any compensation scheme for its clients .
- Trading Assets and Fees: If you want to trade a diverse range of instruments and markets, you may prefer NAGA over Eightcap, as NAGA offers more than 950 instruments across 10 markets, while Eightcap offers more than 200 instruments across 5 markets . However, if you want to trade forex and indices with lower spreads and commissions, you may prefer Eightcap over NAGA, as Eightcap charges lower fees for these markets than NAGA . On the other hand, if you want to trade stocks and cryptocurrencies with lower fees, you may prefer NAGA over Eightcap, as NAGA charges lower fees for these markets than Eightcap .
- Account Types and Features: If you want to trade with a low minimum deposit and no commission, you may prefer the Standard account at Eightcap or the Iron account at NAGA . However, if you want to trade with lower spreads and swap fees, you may prefer the Raw account at Eightcap or the higher-tier accounts at NAGA . The higher-tier accounts at NAGA also offer additional benefits such as lower service fees, free withdrawals, personal account managers, and VIP webinars .
- Deposit and Withdrawal Options: If you want to deposit and withdraw funds with no fees (except for bank wire transfers), you may prefer Eightcap over NAGA . However, if you want to deposit and withdraw funds with more options, including cryptocurrencies, you may prefer NAGA over Eightcap .
- Trading Platforms and Tools: If you are comfortable with using the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, you can choose either Eightcap or NAGA, as both brokers offer these platforms in desktop, web, and mobile versions . However, if you are interested in social trading and copying other traders, you may prefer NAGA over Eightcap, as NAGA offers its own proprietary platform called NAGA Trader . This platform is a social trading network that allows users to interact with other traders, copy their trades, participate in tournaments, earn rewards, and access educational resources .
