Compare LMFX vs NAGA
What is LMFX? What is NAGA?
LMFX is an online broker that offers trading in forex, CFDs, indices, commodities, metals, oil, and stocks. LMFX is based in North Macedonia and is not regulated by any government agency.
NAGA is a social trading platform that allows users to invest in various assets, copy other traders, and access a crypto wallet and exchange. NAGA is regulated by CySEC in Cyprus and offers over 950 instruments to trade.
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$ |
LMFX vs NAGA Regulation Comparison
LMFX is not regulated by any financial authority, which means that it does not have to comply with any rules or standards regarding client protection, fund segregation, or dispute resolution. This also means that LMFX clients are not covered by any compensation scheme in case of insolvency or fraud.
NAGA, on the other hand, is regulated by CySEC, which is a reputable regulator in the European Union. CySEC requires brokers to follow strict rules regarding capital adequacy, risk management, transparency, and fair treatment of customers. CySEC also provides a compensation fund that covers up to 20,000 euros per client in case of broker failure.
LMFX vs NAGA Trading Assets Comparison
LMFX offers 161 instruments to trade, including 61 forex pairs, 2100 stocks from the US and UK markets, 20 commodities, and 11 indices. LMFX does not offer any cryptocurrencies or ETFs.
NAGA offers over 950 instruments to trade, including 50 forex pairs, 2042 stocks from various markets, 31 commodities, 12 indices, and 10 cryptocurrencies. NAGA also offers ETFs and futures contracts.
LMFX vs NAGA Trading Fees Comparison
LMFX charges different fees depending on the account type chosen by the client. The Premium and Fixed accounts have no commissions but higher spreads, while the Zero account has lower spreads but a commission of $4 per lot. The average spread for EUR/USD on the Premium account is 1.1 pips, on the Fixed account is 1.8 pips, and on the Zero account is 0.2 pips. LMFX does not charge any deposit or withdrawal fees, but there may be fees from the payment providers or banks involved.
NAGA charges variable spreads depending on the market conditions and the asset traded. The average spread for EUR/USD is 1.7 pips on the Iron account, which is the most basic account type. NAGA also charges a commission of $10 per lot for forex and CFDs trading on all account types except for the Crystal account, which has no commission but higher spreads. NAGA does not charge any deposit fees, but there are withdrawal fees ranging from $5 to $0 depending on the account type.
LMFX vs NAGA Account Types Comparison
LMFX offers three main account types: the Premium Account, the Fixed Account, and the Zero Account. Each account type has different features and benefits that cater to different trading styles and preferences. The minimum deposit for all account types is $50, and the maximum leverage is 1:1000 for the Premium account, 1:400 for the Fixed account, and 1:250 for the Zero account. LMFX also offers a demo account with $100,000 virtual funds and an Islamic account that complies with Sharia law.
NAGA offers six main account types: the Iron Account, the Bronze Account, the Silver Account, the Gold Account, the Diamond Account, and the Crystal Account. Each account type has different features and benefits that depend on the deposit amount and trading volume of the client. The minimum deposit ranges from $250 for the Iron account to $100,000 for the Crystal account. The maximum leverage is 1:30 for all account types except for the Crystal account, which has a leverage of 1:1000. NAGA also offers a demo account with $2,500 virtual funds and an Islamic account that complies with Sharia law.
LMFX vs NAGA Deposit Options Comparison
LMFX offers various deposit and withdrawal options for its clients, including wire transfers, credit/debit cards, Neteller, Skrill, FasaPay , VLoad , Bitcoin , Bitcoin Cash , Ethereum , Litecoin , Ripple , Dash , Monero , Zcash , Ethereum Classic , Bitcoin Gold , Stellar , EOS , Tron , Neo , Iota , Cardano , Binance Coin , Tezos , Chainlink , Cosmos , Maker , Ontology , Basic Attention Token , Dogecoin , VeChain , Qtum , OmiseGo , Lisk , Nano , Decred , Zilliqa , Augur , Golem , Status Network Token . The processing time for deposits is instant for most methods except for wire transfers, which may take up to two business days. The processing time for withdrawals is up to one business day for most methods except for wire transfers, which may take up to 15 business days.
NAGA offers various deposit and withdrawal options for its clients, including wire transfers, credit/debit cards, Neteller, Skrill, Klarna , Giropay , Przelewy24 , Rapid Transfer , Trustly , EPS , iDeal , Multibanco , Teleingreso , Neosurf , Paysafecard , NAGA Card , NAGA Coin . The processing time for deposits is instant for most methods except for wire transfers, which may take up to five business days. The processing time for withdrawals is up to one business day for most methods except for wire transfers, which may take up to five business days.
LMFX vs NAGA Trading Platforms Comparison
LMFX offers the MetaTrader 4 (MT4) platform as its main trading platform. MT4 is a popular and reliable platform that offers various features and tools for traders, such as advanced charting, technical indicators, automated trading, market news, and signals. LMFX also offers a web trader and a mobile trader that are compatible with MT4 and allow traders to access the markets from any device and location.
NAGA offers its own proprietary platform, the NAGA Web Trader, as its main trading platform. The NAGA Web Trader is a user-friendly and innovative platform that offers various features and tools for traders, such as social trading, copy trading, auto-copying, market news, signals, chat rooms, and portfolio management. NAGA also offers the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms as alternative options for traders who prefer these platforms. NAGA also offers a mobile app that is compatible with both the NAGA Web Trader and the MT4/MT5 platforms and allows traders to access the markets from any device and location.
LMFX vs NAGA Analytical Tools Comparison
LMFX offers various analytical tools for its clients, such as economic calendar, market analysis, trading calculator, VPS hosting, and trading signals. The economic calendar provides important events and data that may affect the markets. The market analysis provides daily insights and forecasts from professional analysts. The trading calculator helps traders calculate their margin, profit/loss, pip value, swap, and required margin. The VPS hosting allows traders to run their automated trading strategies without interruption or delay. The trading signals provide buy/sell recommendations based on technical analysis.
NAGA offers various analytical tools for its clients, such as economic calendar, market news, trading signals, AutoCopy , NAGA Protector , NAGA Portfolios , NAGA Academy . The economic calendar provides important events and data that may affect the markets. The market news provides the latest updates and trends from the financial world. The trading signals provide buy/sell recommendations based on technical analysis. The AutoCopy allows traders to copy the trades of other successful traders automatically. The NAGA Protector allows traders to set stop-loss and take-profit levels automatically. The NAGA Portfolios allows traders to invest in diversified portfolios of assets curated by experts. The NAGA Academy provides educational resources and courses for traders of all levels.
LMFX vs NAGA. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker depends on your personal preferences, trading style, goals and risk appetite. Different brokers may suit different traders better. Therefore, you can research and compare the features, benefits and disadvantages of each broker before making a decision. You can also try their demo account to test their platform and services without risking real money. Ultimately, you should choose the broker that best meets your needs and expectations.
