Compare WorldForex vs NAGA
What is WorldForex? What is NAGA?
WorldForex is an online forex and CFD broker that offers trading services in over 200 financial instruments, including currency pairs, indices, commodities, stocks, and cryptocurrencies. WorldForex was founded in 2008 and is regulated by the Vanuatu Financial Services Commission (VFSC)
NAGA is a social trading platform that allows users to trade various assets, such as forex, stocks, cryptocurrencies, ETFs, and commodities. NAGA also offers a range of features, such as copy trading, robo-advisor, NAGA card, NAGA wallet, and NAGA coin. NAGA was founded 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.
WorldForex vs NAGA Regulation Comparison
WorldForex is regulated by the VFSC, which is a relatively low-tier regulator that does not offer much protection or compensation to traders. WorldForex does not have any other licenses from reputable authorities, such as the FCA, ASIC, or CySEC.
NAGA is regulated by the CySEC, which is a well-known regulator that follows the EU’s MiFID II directive and provides a high level of security and transparency to traders. NAGA also has a license from the FSA of Saint Vincent and the Grenadines, which is a less strict regulator that mainly serves as a registration entity.
WorldForex vs NAGA Trading Assets Comparison
WorldForex offers over 200 trading instruments, including 50 currency pairs, 10 indices, 5 commodities, 100 stocks, and 40 cryptocurrencies. WorldForex also offers digital contracts, which are similar to binary options.
NAGA offers over 950 trading instruments, including 48 currency pairs, 13 indices, 9 commodities, 600 stocks, 10 ETFs, and 30 cryptocurrencies. NAGA also offers futures contracts on some commodities and indices.
WorldForex vs NAGA Trading Fees Comparison
WorldForex charges variable spreads on its trading instruments, which depend on the account type and market conditions. The average spread for EUR/USD is 1.2 pips on the Standard account and 0.6 pips on the ECN account. WorldForex does not charge any commissions on its Standard account, but charges $5 per lot on its ECN account. WorldForex also charges swap fees for holding positions overnight and may charge inactivity fees after six months of no trading activity.
NAGA charges variable spreads on its trading instruments, which depend on the account type and market conditions. The average spread for EUR/USD is 1.4 pips on the Iron account and 0.7 pips on the Diamond account. NAGA does not charge any commissions on its Iron and Bronze accounts, but charges $4 per lot on its Silver account and above. NAGA also charges swap fees for holding positions overnight and may charge inactivity fees after three months of no trading activity.
WorldForex vs NAGA Account Types Comparison
WorldForex offers four types of accounts: Standard, ECN, Micro Cent, and Binary Options. The minimum deposit for the Standard and ECN accounts is $100, while the minimum deposit for the Micro Cent account is $1. The Binary Options account does not require any deposit. The leverage for the Standard and ECN accounts is up to 1:1000, while the leverage for the Micro Cent account is up to 1:500. The Binary Options account does not have any leverage
NAGA offers six types of accounts: Iron, Bronze, Silver, Gold, Diamond, and Crystal. The minimum deposit for the Iron account is $250, while the minimum deposit for the other accounts ranges from $1,000 to $50,000. The leverage for all accounts is up to 1:1000 for forex and up to 1:20 for cryptocurrencies.
WorldForex vs NAGA Deposit Options Comparison
WorldForex supports various deposit and withdrawal methods, such as bank wire transfer, credit/debit cards (Visa/Mastercard), e-wallets (Skrill/Neteller/WebMoney), cryptocurrencies (Bitcoin/Ethereum), and local payment systems (Perfect Money/FasaPay). WorldForex does not charge any fees for deposits or withdrawals, but some payment providers may charge their own fees. The processing time for deposits is instant or up to 24 hours, while the processing time for withdrawals is up to 48 hours.
NAGA supports various deposit and withdrawal methods, such as bank wire transfer, credit/debit cards (Visa/Mastercard), e-wallets (Skrill/Neteller), cryptocurrencies (Bitcoin/Ethereum/NAGA coin), and local payment systems (Przelewy24/Giropay/Sofort). NAGA does not charge any fees for deposits or withdrawals, but some payment providers may charge their own fees. The processing time for deposits is instant or up to 24 hours, while the processing time for withdrawals is up to 48 hours.
WorldForex vs NAGA Trading Platforms Comparison
WorldForex offers two trading platforms: MetaTrader 4 (MT4) and WebTrader. MT4 is a popular and user-friendly platform that supports multiple charting tools, indicators, expert advisors, and automated trading. WebTrader is a web-based platform that does not require any download or installation and allows traders to access their accounts from any browser. Both platforms are available for desktop and mobile devices.
NAGA offers two trading platforms: MetaTrader 4 (MT4) and NAGA Trader. MT4 is a popular and user-friendly platform that supports multiple charting tools, indicators, expert advisors, and automated trading. NAGA Trader is a proprietary platform that integrates social trading features, such as copy trading, robo-advisor, news feed, chat, and leaderboards. Both platforms are available for desktop and mobile devices.
WorldForex vs NAGA Analytical Tools Comparison
WorldForex provides some analytical tools for its traders, such as economic calendar, market news, trading signals, and technical analysis. These tools are available on the website or the platforms and help traders to stay updated on the market events and trends.
NAGA provides some analytical tools for its traders, such as economic calendar, market news, trading signals, and technical analysis. These tools are available on the website or the platforms and help traders to stay updated on the market events and trends. NAGA also offers educational resources, such as webinars, videos, articles, and tutorials.
WorldForex vs NAGA. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker is a personal decision that depends on your trading style, goals, and preferences. However, here are some general suggestions.
- If you are looking for a broker that offers a wide range of trading instruments, especially cryptocurrencies and ETFs, then NAGA might be a better option for you. NAGA offers over 950 trading instruments, while WorldForex offers only over 200.
- If you are looking for a broker that offers a high level of regulation and security, then NAGA might be a better option for you. NAGA is regulated by the CySEC, which is a reputable regulator that follows the EU’s MiFID II directive and provides a high level of protection and transparency to traders. WorldForex is regulated by the VFSC, which is a low-tier regulator that does not offer much protection or compensation to traders.
- If you are looking for a broker that offers low trading fees and commissions, then WorldForex might be a better option for you. WorldForex does not charge any commissions on its Standard account, while NAGA charges $4 per lot on its Silver account and above. WorldForex also has lower average spreads on some currency pairs, such as EUR/USD.
- If you are looking for a broker that offers social trading features, such as copy trading, robo-advisor, chat, and leaderboards, then NAGA might be a better option for you. NAGA has a proprietary platform called NAGA Trader that integrates these features and allows you to interact with other traders and learn from them. WorldForex does not have any social trading features.
Ultimately, the best forex broker for you is the one that meets your needs and expectations. You can try out both brokers by opening demo accounts and testing their platforms and services before making a final decision.
