Compare FxPrimus vs NAGA
What is FxPrimus? What is NAGA?
FxPrimus is a global online broker that was founded in 2009 and is regulated by the Cyprus Securities and Exchange Commission (CySEC), the Financial Sector Conduct Authority (FSCA) of South Africa, and the Vanuatu Financial Services Commission (VFSC). FxPrimus offers over 120 trading instruments, including forex, metals, indices, commodities, energies, and cryptocurrencies. FxPrimus also provides various educational resources, market analysis, and trading tools for its clients.
NAGA is a social trading platform that was launched in 2015 and is regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Authority (FSA) of Saint Vincent and the Grenadines. NAGA offers over 950 trading instruments, including forex, stocks, ETFs, indices, commodities, metals, cryptocurrencies, and gaming items. NAGA also features a social network where traders can interact, copy, and learn from each other.
FxPrimus vs NAGA Regulation Comparison
Both FxPrimus and NAGA are regulated by the CySEC, which is a reputable regulatory authority that ensures the safety and security of client funds and personal data. However, FxPrimus has more regulatory licenses than NAGA, as it is also regulated by the FSCA and the VFSC, which may increase its credibility and trustworthiness among traders.
Additionally, FxPrimus is a member of the Investor Compensation Fund (ICF), which protects client funds up to €20,000 in case of broker insolvency. NAGA does not mention any similar scheme on its website.
FxPrimus vs NAGA Trading Assets Comparison
NAGA has a much larger and more diverse range of trading assets than FxPrimus, as it offers over 950 instruments across various asset classes, while FxPrimus offers only over 120 instruments. NAGA also has some unique trading products that FxPrimus does not offer, such as gaming items and ETFs.
However, both brokers offer a similar number of forex pairs (around 40), which may be the main focus for forex traders.
FxPrimus vs NAGA Trading Fees Comparison
Both FxPrimus and NAGA charge variable spreads on their trading instruments, which depend on the market conditions and the account type of the trader. However, FxPrimus generally has lower spreads than NAGA, especially on forex pairs, For example, the average spread on EUR/USD is 0.4 pips on FxPrimus’s ECN Premium account, while it is 1.2 pips on NAGA’s Iron account. Both brokers also charge commissions on some of their account types, but FxPrimus’s commissions are lower than NAGA’s commissions. For example, the commission on EUR/USD is $4 per lot on FxPrimus’s ECN Premium account, while it is $8 per lot on NAGA’s Iron account.
Both brokers also charge other fees, such as swap fees for holding positions overnight, withdrawal fees for certain payment methods, inactivity fees for dormant accounts, and conversion fees for currency exchange. However, these fees are similar or slightly lower on FxPrimus than on NAGA.
FxPrimus vs NAGA Account Types Comparison
Both FxPrimus and NAGA offer different account types for different levels of traders. However, FxPrimus has fewer account types than NAGA, as it offers only three account types: Standard, ECN Premium, and Variable, while NAGA offers six account types: Iron, Bronze, Silver, Gold, Diamond, and Crystal. The main differences between the account types are the minimum deposit requirement, the spread level, the commission rate, the leverage ratio, and the access to additional features and services.
FxPrimus vs NAGA Deposit Options Comparison
Both FxPrimus and NAGA offer a variety of deposit and withdrawal options for their clients, such as bank wire transfer, credit/debit cards, e-wallets, cryptocurrencies, and local payment methods. However, NAGA has more options than FxPrimus, as it supports over 20 payment methods, while FxPrimus supports only over 10 payment methods. Some of the payment methods that NAGA offers but FxPrimus does not include Skrill, Neteller, Klarna, Trustly, and NAGA Card.
Both brokers process deposits and withdrawals within one business day, but the actual time may vary depending on the payment method and the bank involved. Both brokers also do not charge any fees for deposits, but they may charge fees for withdrawals depending on the payment method and the amount involved. For example, FxPrimus charges a flat fee of $10 for withdrawals via bank wire transfer, while NAGA charges a percentage fee of 0.5% for withdrawals via cryptocurrencies.
FxPrimus vs NAGA Trading Platforms Comparison
Both FxPrimus and NAGA offer the popular MetaTrader 4 (MT4) trading platform as their main trading platform. MT4 is a widely used platform that offers advanced charting tools, technical indicators, automated trading systems, market news, and customizability. Both brokers also offer MT4 as a web-based platform that can be accessed from any browser without downloading or installing any software. Additionally, both brokers offer MT4 as a mobile app that can be downloaded from the App Store or Google Play Store for iOS and Android devices respectively.
However, NAGA also offers its own proprietary trading platform called NAGA Trader, which is a social trading platform that allows traders to interact with each other, copy other traders’ strategies, and learn from the best performers. NAGA Trader also offers some features that MT4 does not offer, such as gaming items trading, NAGA Protector (a risk management tool), NAGA Wallet (a multi-currency wallet), and NAGA Academy (an educational platform). NAGA Trader is also available as a web-based platform, a mobile app, and a desktop app for Windows and Mac devices.
FxPrimus vs NAGA Analytical Tools Comparison
Both FxPrimus and NAGA offer various analytical tools for their clients to enhance their trading performance and decision making.
However, FxPrimus has more analytical tools than NAGA, as it offers daily market analysis, trading signals, economic calendar, market sentiment indicator, VPS service, Autochartist (a technical analysis tool), FXPRIMUS Coach (a mentoring service), and PAMM service (a money management service), while NAGA only offers daily market analysis, economic calendar, trading signals, and Auto Copy service (a social trading service).
FxPrimus vs NAGA. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker is an important decision that depends on your personal preferences, trading goals, and risk appetite. There is no definitive answer to which broker is better, as different brokers may suit different traders better. However, you may consider some of the following factors to help you decide:
- Regulation: If you value the safety and security of your funds and personal data, you may prefer a broker that has more regulatory licenses and protection schemes. In this case, FxPrimus may be a better choice than NAGA, as it is regulated by three authorities and is a member of the ICF.
- Trading Assets: If you want to diversify your portfolio and trade a wide range of instruments, you may prefer a broker that offers more trading assets and unique products. In this case, NAGA may be a better choice than FxPrimus, as it offers over 950 instruments and gaming items trading.
- Trading Fees: If you want to reduce your trading costs and maximize your profits, you may prefer a broker that has lower spreads and commissions. In this case, FxPrimus may be a better choice than NAGA, as it generally has lower spreads and commissions than NAGA, especially on forex pairs.
- Account Types: If you want to have more options and flexibility in choosing your account type, you may prefer a broker that offers more account types with different features and services. In this case, NAGA may be a better choice than FxPrimus, as it offers six account types with different minimum deposit requirements, spread levels, commission rates, leverage ratios, and additional features and services.
- Deposit and Withdrawal Options: If you want to have more convenience and ease in depositing and withdrawing your funds, you may prefer a broker that offers more payment methods and faster processing times. In this case, NAGA may be a better choice than FxPrimus, as it supports over 20 payment methods, while FxPrimus supports only over 10 payment methods.
- Trading Platforms: If you want to have more functionality and social interaction in your trading platform, you may prefer a broker that offers its own proprietary platform with unique features. In this case, NAGA may be a better choice than FxPrimus, as it offers NAGA Trader, which is a social trading platform that allows traders to interact with each other, copy other traders’ strategies, and learn from the best performers.
- Analytical Tools: If you want to have more support and guidance in your trading performance and decision making, you may prefer a broker that offers more analytical tools and services. In this case, FxPrimus may be a better choice than NAGA, as it offers more analytical tools and services than NAGA, such as free VPS, personal account manager, daily market analysis, trading signals, Autochartist, FXPRIMUS Coach, and PAMM service.
Ultimately, the best way to decide which broker is better for you is to try them out yourself. You can open demo accounts with both brokers and test their platforms, products, and services for free. You can also read reviews from other traders who have used both brokers and learn from their experiences.
