Compare FXOpen vs NAGA
What is FXOpen? What is NAGA?
FXOpen is a global forex and CFD broker that was established in 2003 and offers over 1000 trading instruments, including forex, stocks, indices, commodities, cryptocurrencies, and futures. FXOpen is regulated by the FCA in the UK, ASIC in Australia, FSA in Seychelles, and the Financial Commission in the UK. FXOpen also provides ECN trading accounts with access to interbank liquidity and low commissions.
NAGA is a social trading platform that was founded in 2015 and allows traders to trade over 1000 assets, including forex, stocks, ETFs, commodities, indices, and cryptocurrencies. NAGA is regulated by CySEC in Cyprus and FSA in Seychelles. NAGA also offers copy trading features that enable traders to follow and copy other successful traders on the platform.
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$ |
FXOpen vs NAGA Regulation Comparison
FXOpen has more regulatory licenses than NAGA, as it is authorized by four different regulators in different jurisdictions, while NAGA is only regulated by two regulators. FXOpen is also a member of the Financial Commission, which provides an independent dispute resolution service for traders
Both brokers are required to comply with the rules and standards of their respective regulators, such as keeping client funds in segregated accounts, maintaining adequate capital, submitting regular reports, and adhering to anti-money laundering policies. However, some regulators may have more stringent requirements than others, and some may offer more protection and compensation schemes for traders in case of broker insolvency or misconduct.
FXOpen vs NAGA Trading Assets Comparison
oth brokers offer a wide range of trading assets for traders to choose from, but there are some differences in their offerings. FXOpen has more forex pairs (50 vs 28), more cryptocurrency pairs (43 vs 25), more futures contracts (20 vs 0), and more options contracts (10 vs 0) than NAGA. On the other hand, NAGA has more stocks (950 vs 120), more ETFs (30 vs 0), and more physical stocks (950 vs 0) than FXOpen.
The availability of trading assets may vary depending on the account type, trading platform, and jurisdiction of the trader. Some assets may have different trading conditions, such as leverage, margin, spread, commission, swap, and contract size. Traders should check the specifications of each asset before trading them.
FXOpen vs NAGA Trading Fees Comparison
Both brokers charge variable spreads on their trading assets, which means that the spreads can fluctuate depending on the market conditions and liquidity. The spreads can be as low as 0 pips for some assets on both brokers, but they can also widen significantly during periods of high volatility or low liquidity.
n addition to spreads, both brokers also charge commissions on some of their account types and trading assets. FXOpen charges commissions from $1.5 per lot on its ECN accounts and from $10 per lot on its crypto accounts. NAGA charges commissions from $0.10 per share on its physical stock trading and from $1 per lot on its crypto trading.
Both brokers also charge swap fees for holding positions overnight, which can be positive or negative depending on the direction of the trade and the interest rate differential between the two currencies involved. The swap rates can vary daily and can be checked on the brokers’ websites or trading platforms.
FXOpen vs NAGA Account Types Comparison
| Account Type | FXOpen | NAGA |
|---|---|---|
| Minimum Deposit | $1 – $1000 | $250 |
| Maximum Leverage | 1:500 | 1:500 |
| Trading Platforms | MT4, MT5, TickTrader, TradingView | MT4, MT5 |
| Execution Type | Market, Instant | Market |
| Spread Type | Variable | Variable |
| Commission | Yes, on ECN and Crypto accounts | Yes, on Physical Stock and Crypto trading |
| Swap | Yes | Yes |
| Islamic Account | Yes | Yes |
| Demo Account | Yes, limited with 30 days | Yes |
| Segregated Account | No | No |
| PAMM Account | No | No |
| Managed Account | No | No |
| Hedging | Yes | Yes |
| Scalping | Yes | Yes |
| News Trading | Yes | Yes |
| Automated Trading | Yes | Yes |
| Bonus Offers | No | Yes |
| Free Education | No | Yes |
| Trading Contests | No | No |
FXOpen vs NAGA Deposit Options Comparison
Both brokers offer a variety of deposit and withdrawal options for traders to fund and withdraw money from their trading accounts. The available payment methods include bank wire transfer, credit/debit cards, e-wallets, cryptocurrencies, and local payment methods. However, the availability of each payment method may depend on the country of residence of the trader and the currency of the account
Both brokers do not charge any fees for deposits, but they may charge fees for withdrawals depending on the payment method and the amount of withdrawal. The fees can be checked on the brokers’ websites or trading platforms. The processing time for deposits and withdrawals may also vary depending on the payment method and the verification status of the account.
FXOpen vs NAGA Trading Platforms Comparison
Both brokers offer MetaTrader 4 (MT4) and MetaTrader 5 (MT5) as their main trading platforms. MT4 and MT5 are the most popular and widely used trading platforms in the forex industry, as they offer a user-friendly interface, advanced charting and analysis tools, a range of technical indicators and trading robots, multiple order types and execution modes, and a large online community of traders and developers.
In addition to MT4 and MT5, FXOpen also offers TickTrader and TradingView as its alternative trading platforms. TickTrader is a web-based platform that allows traders to trade forex, stocks, futures, options, and cryptocurrencies with fast execution and low latency. TradingView is a social network for traders that provides live quotes, charts, trading signals, news, and market data for various financial markets.
NAGA does not offer any other trading platforms besides MT4 and MT5. However, it has its own social trading network that allows traders to interact with each other, share ideas and strategies, follow and copy other traders, and access various educational and analytical resources.
FXOpen vs NAGA Analytical Tools Comparison
Both brokers provide various analytical tools to help traders with their trading decisions and strategies. Some of the common tools include economic calendars, market news, trading signals, technical analysis tools, charting tools, indicators, and trading robots. These tools can be accessed on the brokers’ websites or trading platforms.
FXOpen also offers some additional tools that are not available on NAGA, such as VPS service, PAMM service, One Click Trading Level2 Plugin, Forex Calculators, Forex Tick Data, Forex Bonuses App, FXOpen Analytics App, FXOpen Help App, FXOpen Trader App, FXOpen News App, FXOpen Partnership App. These tools are designed to enhance the trading experience and performance of traders on FXOpen.
NAGA also offers some unique tools that are not available on FXOpen, such as NAGA Protector, NAGA Wallet, NAGA Card, NAGA Messenger, NAGA Academy. These tools are aimed to provide more security, convenience, communication, education, and innovation for traders on NAGA.
FXOpen vs NAGA. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker is an important decision that can affect your trading experience and results. There is no definitive answer to which broker is better, as different brokers may suit different traders depending on their preferences, goals, and strategies. However, here are some possible factors that you may want to consider:
- Regulation: FXOpen has more regulatory licenses than NAGA, which may indicate a higher level of trustworthiness and security for traders. However, some regulators may offer more protection and compensation schemes than others, so you should check the details of each regulator before choosing a broker.
- Trading Assets: Both brokers offer a wide range of trading assets, but there are some differences in their offerings. If you are interested in trading more forex pairs, cryptocurrency pairs, futures contracts, or options contracts, you may prefer FXOpen. If you are interested in trading more stocks, ETFs, or physical stocks, you may prefer NAGA.
- Trading Fees: Both brokers charge variable spreads and commissions on some of their account types and trading assets. The spreads and commissions can vary depending on the market conditions and liquidity. You should compare the trading fees for the assets and accounts that you are interested in trading and choose the broker that offers the most competitive and transparent pricing.
- Account Types: Both brokers offer different types of trading accounts for different levels of traders and trading styles. You should compare the features and requirements of each account type and choose the one that suits your needs and preferences. Some of the features that you may want to look for are the minimum deposit, maximum leverage, execution type, spread type, commission, swap, Islamic account, demo account, hedging, scalping, news trading, automated trading, bonus offers, and free education.
- Deposit and Withdrawal Options: Both brokers offer a variety of deposit and withdrawal options for traders to fund and withdraw money from their trading accounts. You should choose the broker that offers the payment methods that are convenient, secure, fast, and affordable for you. You should also check the fees and processing time for each payment method before making a transaction.
- Trading Platforms: Both brokers offer MetaTrader 4 (MT4) and MetaTrader 5 (MT5) as their main trading platforms. These are the most popular and widely used trading platforms in the forex industry, as they offer a user-friendly interface, advanced charting and analysis tools, a range of technical indicators and trading robots, multiple order types and execution modes, and a large online community of traders and developers. You should choose the broker that offers the platform that you are familiar with or want to learn more about.
- Analytical Tools: Both brokers provide various analytical tools to help traders with their trading decisions and strategies. Some of the common tools include economic calendars, market news, trading signals, technical analysis tools, charting tools, indicators, and trading robots. You should choose the broker that offers the tools that are useful, reliable, and easy to use for you.
- Additional Features: Both brokers also offer some additional features that are not available on other brokers. FXOpen offers some extra tools such as VPS service, PAMM service, One Click Trading Level2 Plugin, Forex Calculators, Forex Tick Data, Forex Bonuses App, FXOpen Analytics App, FXOpen Help App, FXOpen Trader App, FXOpen News App, FXOpen Partnership App. These tools are designed to enhance the trading experience and performance of traders on FXOpen. NAGA offers some unique features such as NAGA Protector, NAGA Wallet, NAGA Card, NAGA Messenger, NAGA Academy. These features are aimed to provide more security, convenience, communication, education, and innovation for traders on NAGA. You should choose the broker that offers the features that are appealing and beneficial for you.
