Compare MTrading vs NAGA
What is MTrading? What is NAGA?
MTrading is an online broker that offers trading on CFDs, crypto, commodities, indices, and real stocks. It is regulated by the Financial Services Authority of Seychelles (FSA) and provides access to the MT4, MT5, eSignal, AlgoTrader, and TradingCentral platforms. MTrading also offers educational resources, market news, and analytical tools to its clients.
NAGA is a social trading platform that allows clients to trade and copy other traders on over 1000 assets including CFDs, forex, stocks, and cryptos. It is regulated by the Cyprus Securities and Exchange Commission (CySEC) and operates under the NAGA Group AG, a publicly listed company on the Frankfurt stock exchange. NAGA also offers its own proprietary platform as well as the MT4 and MT5 platforms. NAGA also provides free education, live webinars, trading signals, and a community of traders to interact with.
MTrading vs NAGA Regulation Comparison
Both MTrading and NAGA are regulated by reputable authorities in their respective jurisdictions. However, NAGA has an advantage over MTrading in terms of investor protection and transparency, as it operates under the European Union’s MiFID II directive, which imposes strict rules on client funds segregation, risk management, reporting, and dispute resolution. NAGA also participates in the Investor Compensation Fund (ICF), which covers up to 20,000 EUR per client in case of broker insolvency. MTrading does not offer such protection to its clients, as the FSA is a less stringent regulator than the CySEC.
MTrading vs NAGA Trading Assets Comparison
Both MTrading and NAGA offer a wide range of trading instruments to their clients, including CFDs on forex, indices, shares, commodities, cryptocurrencies, real stocks, and futures.
However, NAGA has a slight edge over MTrading in terms of the number and diversity of assets available. NAGA offers over 1000 assets to trade on, while MTrading offers over 400 assets. NAGA also offers more crypto pairs than MTrading, as well as some exotic instruments such as ETFs and gaming items.
MTrading vs NAGA Trading Fees Comparison
Both MTrading and NAGA charge variable spreads and commissions on their trades, depending on the account type and the instrument traded. However, the fees vary significantly between the two brokers, as well as within each broker’s account types. For example, MTrading charges no commission on its Standard account but higher spreads than its ECN account, which charges $4 per lot per round turn.
NAGA charges no commission on its Iron account but higher spreads than its Diamond account, which charges $10 per lot per round turn. The spreads also depend on the market conditions and the liquidity of the instrument.
MTrading vs NAGA Account Types Comparison
Both MTrading and NAGA offer multiple account types to suit different trading styles and preferences of their clients. However, the account types differ in terms of the minimum deposit required, the leverage offered, the trading platforms available, and the additional features provided. For example, MTrading offers four account types: Standard ($100 minimum deposit), ECN ($500 minimum deposit), Pro ($5000 minimum deposit), and Crypto ($10 minimum deposit). The leverage ranges from 1:1000 for Standard and ECN accounts to 1:200 for Pro and Crypto accounts. The platforms available are MT4 and MT5 for all accounts except Crypto, which uses eSignal. The additional features include market news, analytical tools, personal manager, VPS service, etc.
NAGA offers five account types: Iron ($250 minimum deposit), Bronze ($1000 minimum deposit), Silver ($2500 minimum deposit), Gold ($5000 minimum deposit), and Diamond ($25000 minimum deposit). The leverage ranges from 1:30 for Iron account to 1:1000 for Diamond account (for non-EU clients only). The platforms available are NAGA platform (web-based or mobile app), MT4 and MT5. The additional features include free education, live webinars, trading signals, copy trading service (NAGA Protector), personal account manager (NAGA Exclusive), etc.
MTrading vs NAGA Deposit Options Comparison
Both MTrading and NAGA offer a variety of deposit and withdrawal methods to their clients, including wire transfer, credit card, e-wallets, and cryptocurrencies. However, the methods available may vary depending on the client’s country of residence and the account currency.
For example, MTrading accepts deposits and withdrawals in USD, EUR, GBP, and PLN, while NAGA accepts deposits and withdrawals in USD, EUR, GBP, PLN, CHF, BTC, ETH, NGC (NAGA Coin), and NAGAX (NAGA Exchange). The processing time and fees may also differ depending on the method used. For example, MTrading charges no fees for deposits but charges $30 for wire transfer withdrawals and 2% for e-wallet withdrawals. NAGA charges no fees for deposits or withdrawals but requires a minimum amount of $50 for both.
MTrading vs NAGA Trading Platforms Comparison
Both MTrading and NAGA offer the popular MT4 and MT5 platforms to their clients, which are widely used by traders around the world for their user-friendly interface, advanced charting tools, custom indicators, automated trading systems (Expert Advisors), and market news. However, each broker also offers its own proprietary platform that has some unique features and advantages. For example, MTrading offers eSignal, a platform that provides real-time data, advanced analytics, backtesting, and trading strategies for various markets. MTrading also offers AlgoTrader, a platform that allows traders to create and execute algorithmic trading strategies using Java or Python.
NAGA offers its own web-based platform that can be accessed from any browser or device. The platform has a social trading feature that allows traders to follow and copy other traders in the NAGA community. The platform also has a NAGA Protector feature that allows traders to set stop loss and take profit levels automatically for each trade. The platform also integrates with NAGA Wallet, a multi-currency crypto wallet that supports over 1200 coins and tokens. NAGA also offers a mobile app that has all the features of the web platform plus some additional ones such as NAGA Card (a prepaid Mastercard linked to the NAGA Wallet) and NAGA Academy (an online learning platform with courses on trading and investing).
MTrading vs NAGA Analytical Tools Comparison
Both MTrading and NAGA provide various analytical tools to their clients to help them make informed trading decisions. These tools include market news, economic calendar, trading signals, technical analysis, fundamental analysis, etc. However, the tools differ in terms of the sources, quality, frequency, and accessibility of the information provided. For example, MTrading provides market news from Reuters and TradingCentral, which are reputable sources of financial information. MTrading also provides trading signals from TradingCentral based on technical analysis of various instruments. MTrading also provides access to TradingCentral’s WebTV service that broadcasts live market commentary and analysis from professional analysts.
NAGA provides market news from various sources such as Bloomberg, CNBC, Reuters, etc. NAGA also provides trading signals from its own team of analysts based on technical and fundamental analysis of various instruments. NAGA also provides access to TradingView’s charting tools that allow traders to perform their own technical analysis using custom indicators and drawing tools. NAGA also provides access to its own blog that contains articles on various topics related to trading and investing.
MTrading vs NAGA. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker depends on your personal preferences, trading goals, risk appetite and other factors. You should compare the features, fees, platforms and services of different brokers and decide which one suits you best. You can use the information I provided earlier for your reference, but you should also do your own research and appraisal.
