The most complete disclosure of trading conditions in our comparison, built-in copy trading with a real leaderboard, and the only one of the five brokers where the whole path from registration to a real account is shown below, step by step.
Brokers: comparison, XM, FXPRO, INSTAFOREX, AVATRADE
Where: naga.com, web · Screenshots taken: 2026-08-05
What you will need: Email, or sign in with Facebook/Apple; Under a minute — the form is a single screen
Legal entity: NAGA Capital Ltd · Jurisdiction: Seychelles · Regulator: Financial Services Authority Seychelles (FSA) · licence: SD026
«The website is operated by NAGA Capital Ltd which is authorised and regulated by the Financial Services Authority Seychelles (FSA) under licence No. SD026.»
The company is in the register as an active Securities Dealer. The register doesn't publish the SD026 number itself — that's only from the broker's own statement.
The entity is named twice: right on the registration form, and in full in the site's footer. Right next to it, on a separate line, a second group entity — NAGA Markets Europe Ltd (CySEC 204/13) — is explicitly labelled "other group entity": not the one running the site for clients from the CIS and Europe.
a compensation fund — not a single mention in the contract, the only avenue for complaints is the Seychelles regulator itself,a published percentage of losing accounts,a numeric leverage cap in policy — only examples (1:300, 1:200), gold advertised up to 1:500
After registering, open the dashboard — the account already exists. Before trading, fill in a short questionnaire: it unlocks higher limits and is required for verification.
Where: app.naga.com, dashboard · Screenshots taken: 2026-08-07
Right after filling it in, the dashboard sends a "You upgraded to a real-money account!" notification — that's not the same thing as identity verification (see the section below), just confirmation that basic data has been accepted and funding methods are available.
Where: app.naga.com, dashboard · Screenshots taken: 2026-08-07
| Parameter | Value |
|---|---|
| Minimum deposit | 10 USD |
| Deposit fee | "No charge" across all listed methods |
The amount available for withdrawal can be less than what's sitting in the account: if you have open positions, you can only withdraw an amount that would keep your margin level above 150% — otherwise the system won't let you submit the request, to protect you from forced position closures.
Without identity verification, NAGA lets you fund the account up to €2,000 — that figure is stated right on the screen where verification starts, before the process even begins. The check itself is performed by a third-party service, Sumsub, not by NAGA directly.
Where: app.naga.com, dashboard · Sumsub · Screenshots taken: 2026-08-07
Sumsub shows instructions right on the screen: open the site icon in the browser's address bar → find "Camera" → enable access → come back and click "Try again". In automated or isolated browser environments (for example, virtual machines without a physical camera), camera access is technically unavailable — in that case, "Continue on phone" is the only option left.
Where: app.naga.com, web terminal · Screenshots taken: 2026-08-07
Formula: (Equity ÷ Margin used) × 100. Below 50%, NAGA starts force-closing positions — starting with the most unprofitable one, until there's enough margin. Between 51% and 150% — a warning and a recommendation to fund the account or close some positions. Above 150% — everything's fine.
NAGA publishes in a single table what the others either don't publish at all or split across pages: long and short swap, average spread in pips, margin, commission, lot size, and volume limits.
| Instrument | Avg. spread | Swap L/S | Margin | Commission | Lot | Volume |
|---|---|---|---|---|---|---|
| AUD/USD | 1.0 | −1.1 / −4.4 | 0.20% | 0.00% | 100,000 | 0.01–50 |
| AUD/CAD | 1.4 | −9.95 / −3.7 | 0.40% | 0.00% | 100,000 | 0.01–50 |
In the terminal, instruments carry a _Pro suffix: EURUSD_Pro, XAUUSD_Pro. And the DAX 40 index is labelled GER30 (DAX) — the ticker is ten stocks behind the index.
The "Trading Signals" section has ideas from Trading Central (the same third-party provider AvaTrade uses): instrument, direction, target levels, and a short plain-language scenario.
The base tier gets 5 signals a day — seeing more requires Silver Trader status. Just as with AvaTrade, this isn't our recommendation: the signals are generated automatically by Trading Central's own methodology and are equally available to all clients at the relevant tier.
"Find Leaders" shows a real trader ranking by profit over the past 30 and 7 days — with follower and copier counts for each. The "Autocopy" button connects you to automatically copy a specific trader's trades.
This isn't a guarantee of results: a leader's past performance promises nothing about the future, and the profit shown is the leader's own profit, not a guaranteed profit for the copier (fees and copy delay reduce it).
"Copy Premium" in the "Wallet" section pays the trader being copied — up to $0.90 per lot on popular assets at the Diamond tier. Conditions: be at least Iron tier, trade your own account (not through copying), hold the trade longer than 5 minutes, invest more than $100 in it, and close it in profit. The tier depends on your account balance — starting from zero, it only becomes available after a deposit of $250 or more.