ForexChief is a forex broker that offers online trading of currencies, metals, commodities, indices and stock CFDs. It uses the MetaTrader 4 and 5 platforms, as well as its own mobile app. It provides various promotions and bonuses, such as trading credits, turnover rebates and an affiliate program. It is regulated by the Financial Services Authority of Seychelles (FSA).
NAGA is a social trading platform that allows users to trade and copy other traders with over 1000 assets, including real stocks, commodities, cryptocurrencies and more. It also has its own mobile app and web interface. It provides free education and live webinars, as well as a copy-trading feature that lets users follow and replicate the trades of successful investors. It has group entities authorised and regulated locally by different financial regulators.
ForexChief vs NAGA Regulation Comparison
ForexChief
NAGA
Regulated by FSA Seychelles
Regulated by CySEC Cyprus, ASIC Australia, FSC Mauritius
Member of FMA
Member of NAGA Group AG publicly listed on Frankfurt Stock Exchange
Segregates client funds from its own funds
Segregates client funds from its own funds
ForexChief vs NAGA Trading Assets Comparison
ForexChief
NAGA
Offers over 50 currency pairs
Offers over 50 currency pairs
Offers metals, commodities, indices and stock CFDs
Offers real stocks, ETFs, commodities, indices and crypto CFDs
Does not offer cryptocurrencies
Offers over 20 cryptocurrencies
ForexChief vs NAGA Trading Fees Comparison
ForexChief
NAGA
Has variable spreads from 0 pips
Has variable spreads from 0.7 pips
Charges commissions from $0.03 to $15 per lot depending on account type
Charges commissions from $0 to $10 per lot depending on account type
Does not charge deposit or withdrawal fees
Charges deposit fees from 0% to 4% depending on payment method
Charges withdrawal fees from 0% to 2% depending on payment method
ForexChief vs NAGA Account Types Comparison
ForexChief
NAGA
Offers four types of accounts: MT4.DirectFX, MT4.Classic+, cent-MT4.DirectFX and cent-MT4.Classic+
Offers three types of accounts: Iron Trader, Bronze Trader and Silver Trader
Requires a minimum deposit of $1 for cent accounts and $100 for standard accounts
Requires a minimum deposit of $250 for all accounts
Offers leverage up to 1:1000 for forex and up to 1:20 for CFDs
Offers leverage up to 1:1000 for forex and up to 1:20 for CFDs
ForexChief vs NAGA Deposit Options Comparison
ForexChief
NAGA
Supports various payment methods such as bank wire transfer, credit/debit cards, e-wallets (Skrill, Neteller, Perfect Money, etc.), cryptocurrencies (Bitcoin, Ethereum, etc.) and local bank transfers
Supports various payment methods such as bank wire transfer, credit/debit cards, e-wallets (Skrill, Neteller, etc.), cryptocurrencies (Bitcoin, etc.) and local bank transfers
Processes deposits instantly or within one working day depending on payment method
Processes deposits instantly or within one working day depending on payment method
Processes withdrawals within one working day or faster depending on payment method
Processes withdrawals within one working day or faster depending on payment method
ForexChief vs NAGA Trading Platforms Comparison
ForexChief
NAGA
Uses MetaTrader 4 and MetaTrader 5 platforms for desktop, web and mobile devices
Uses its own proprietary platform for web and mobile devices
Provides access to MQL4/5 programming language, trading signals, indicators, advisors and scripts
Provides access to copy-trading feature, news feed, trading signals, indicators and charts
ForexChief vs NAGA Analytical Tools Comparison
ForexChief
NAGA
Provides a library of articles about trading strategies, indicators, history of forex and trader’s first steps
Provides free education and live webinars on various trading topics
Provides a trader’s calculator to estimate margin, profit and loss
Provides an economic calendar to track important events and earnings reports
Does not provide a market analysis or a blog
Provides a market analysis and a blog with the latest updates and news
ForexChief vs NAGA. Which forex broker is better? Which forex broker should you choose?
I cannot answer that question for you, as it depends on your personal preferences, trading goals, risk appetite and budget. You should do your own research and compare the pros and cons of each broker before making a decision. However, you can consider some factors such as:
Regulation and security: NAGA has more regulatory licenses and is a publicly listed company, which may give you more confidence and protection as a trader.
Trading assets: NAGA offers more variety and diversity of assets, including real stocks and cryptocurrencies, which may suit your trading interests and strategies better.
Trading fees: ForexChief has lower spreads and commissions, as well as no deposit or withdrawal fees, which may save you some costs and increase your profits.
Account types: ForexChief has lower minimum deposit requirements and more account options, which may suit your budget and trading style better.
Trading platforms: ForexChief uses the popular and reliable MetaTrader platforms, which have more features and tools than NAGA’s own platform. However, NAGA’s platform has a unique copy-trading feature that may appeal to you if you want to follow other successful traders.
Analytical tools: NAGA provides more educational resources and market analysis than ForexChief, which may help you improve your trading skills and knowledge.
Ultimately, the choice is yours. You can also try their demo accounts to test their platforms and services before opening a live account.
