NAGA vs WelTrade - Fees Review included
Which broker is better NAGA or WelTrade? Our expert assessment conducted according to TU’s own methodology showed that NAGA is one of the top brokers in the financial market with the TU Overall Score of 4.15 out of 10. WelTrade is one of the top brokers in the financial market with the TU Overall Score of 6.63 out of 10. Find out more about TU Overall Score.
| Feature | NAGA | WelTrade |
|---|---|---|
Overall |
4.2 |
4.2 |
4.1 |
3.5 |
|
4.4 |
4.1 |
|
4.5 |
3.8 |
|
Investment Instruments |
4.9 |
4.4 |
Platforms and Charting Tools |
4.4 |
4.5 |
Deposit and Withdrawal |
2.9 |
5 |
Research |
3.1 |
4 |
Education |
3.5 |
3.8 |
Support |
3.6 |
4.6 |
Bonuses |
4.1 |
4.3 |
|
|
|
NAGA vs WelTrade: Pros and Cons
The NAGA broker (NAGA Group) has been providing services in the Forex currency market since 2015. NAGA is a member of a German financial holding company NAGA Group AG, that is in demand on the Frankfurt Stock Exchange. The company applies modern technologies and introduces innovative solutions to compete with traditional financial institutions represented by banks and intermediaries in the investment market.
Weltrade is an international broker. It has been in operation since 2006 and has offices in 18 countries that serve over 100,000 traders worldwide. The Company provides a full range of active trading services and also supports auto-trading. Weltrade has repeatedly proven its responsibility and professionalism. According to the 2019 Asia Forex Expo, the company received the “Best Foreign Broker” award; and in 2017, it was awarded the “Broker with the Best Client Support” title. In 2015, the Weltrade broker won the "Best Affiliate Program” nomination.
| NAGA | WelTrade | |
|---|---|---|
| Overall Pros | Wide range of trading instruments | beneficial trading conditions |
| The opportunity to get passive income using the social trading platform, PAMM, and MAM (Multi-Account Manager) accounts for investing and participating in affiliate programs | a wide range of financial instruments for trading: currency pairs, indices, stocks, goods, cryptocurrencies | |
| NAGA is registered with CySEC (Cyprus Securities and Exchange Commission) an authoritative European regulator | ability to open different types of accounts, depending on clients’ goals and expertise | |
| Copy trading and PAMM services | individual account for cryptocurrency trading | |
| several services for successful traders’ transactions, such as copying; ZuluTrade & MQL5, as well as access to robots and ready indices | ||
| regular promotions and contests for traders | ||
| Overall Cons | Limited choice of deposit and withdrawal methods | no PAMM investments |
| withdrawals can take up to 30 minutes |
NAGA vs WelTrade: Safety and Regulation
| Regulated By: | NAGA | WelTrade |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
No |
CySec (Cyprus, EU) |
Yes |
No |
ASIC (Australia) |
No |
No |
Other Regulators |
No |
Commission on International Financial Services (jurisdiction - Belize) |
NAGA vs WelTrade: Trading Conditions
| Trading Conditions | NAGA | WelTrade |
|---|---|---|
Minimum Deposit |
$250 |
$25 |
Trading Platforms |
МТ4, МТ5, NAGA Web App, NAGA iOS App, NAGA Android App |
MetaTrader 4, MetaTrader 5, MetaTrader 4 MultiTerminal, WebTrader |
Max Leverage (Futures) |
1-1000 |
1-1000 |
Supported Markets |
Forex, stocks, cryptocurrency, indices, commodities, CFDs on stocks, precious metals, ETFs |
Forex, metals, CFD shares, indices, goods, cryptocurrencies |
Trading assets |
950+ |
200+ |
Trading Accounts |
Demo, Iron Trader, Bronze Trader, Silver Trader, Gold Trader, Diamond Trader, Crystal Trader |
Demo, Micro, Premium, Pro, ZuluTrade, and Crypto |
Base Account Currencies |
USD, EUR, GBP, PLN, NGC |
USD, EUR |
NAGA vs WelTrade: Fees
Forex Trading Fees
| Fee | NAGA | WelTrade |
|---|---|---|
Standard Account EURUSD Average Spread |
1.2 pips |
1.4 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
Not supported |
Not supported |
ECN Account EUR Average Spread |
Not supported |
Not supported |
CFD Trading Fees
| Fee | NAGA | WelTrade |
|---|---|---|
CFD Trading Fee |
Floating spread, Stock CFDs - €0.99 per contract, ETF CFDs 0.1% |
Floating spread |
Non-Trading Fees
| Fee | NAGA | WelTrade |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
$5 |
Debit/Credit Card – 1.2% + 3 USD for withdrawals in USD and 1.2% + 2.7 EUR for withdrawals in EUR. Skrill and Qiwi – 1% Neteller – 2% |
Inactivity Fee |
No |
$15 per month after 3 months of inactivity |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
NAGA vs WelTrade: Trading Assets
| Asset Name | NAGA | WelTrade |
|---|---|---|
Overall |
950+ |
200+ |
Forex |
Yes |
Yes |
Stocks |
Yes |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes |
Cryptocurrencies |
Yes |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes |
Yes |
ETFs |
Yes |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
Yes |
No |
Binary Options |
No |
No |
NAGA or WelTrade: Investment Programs
| Asset Name | NAGA | WelTrade |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
Yes |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: WelTrade or NAGA
| NAGA | WelTrade | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
Yes |
No |
Others |
No |
Webtrader |
|
|
|
NAGA vs WelTrade: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | NAGA | WelTrade |
|---|---|---|
Bank Transfer |
Yes (Only withdrawal) |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
No |
Yes |
Crypto |
Yes (Only deposit) |
Yes |
NAGA vs WelTrade: Research
| Research Type | NAGA | WelTrade |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
No |
No |
E-Mail Reports |
No |
No |
NAGA vs WelTrade: Education
| Education Type | NAGA | WelTrade |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
No |
Videos |
Yes |
Yes |
Cent account |
No |
No |
WelTrade vs NAGA: Support
| Support Features | NAGA | WelTrade |
|---|---|---|
Working Days |
24/5 |
24/7 |
Yes |
No |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
NAGA vs WelTrade: Forex Bonuses and Promo
| Promo | NAGA | WelTrade |
|---|---|---|
Forex Bonus |
Only available for signal providers |
No |
Affiliate Program |
No |
For each invited trader, the client can receive $10 |
Other Promos |
Copy Bonus is a bonus that pays $0.10 to $0.30 to a trader whose transactions are copied through the social trading platform. The remuneration amount depends on the trading account type; A bonus for the provider of trading signals of $0. 1 for each copy. Select an asset, predict its price movement and place a signal in the NAGA signal history to get a reward. |
Bonus of 100% with each replenishment of the trade account with the amount of USD/EUR 200. |
|
|
|
Top 5 Reviews on WelTrade
-
Comment
I started collaborating with the broker Weltrade when I became interested in cryptocurrency. Here, speculative trading was offered on the MT4 platform. Of course, with such trading, there was no actual purchase of cryptocurrency, but speculations, especially with margin trading, attracted me. Later on, I started trading with regular currency pairs as well. I consider Weltrade to be a decent company.
-
Comment
Weltrade cannot be trusted. They tell beautiful stories and offer favorable conditions. But in fact, weltrade does everything to ensure that your money stays with them forever. I traded here for four months and lost my entire deposit due to technical glitches. Nobody returned my money.
-
Comment
Tried trading with Weltrade, and honestly, I didn't like it. I'm not going to stay on a platform where the order execution speed is very slow. Even two seconds for order processing is too much, and with Weltrade, orders are processed in 30 seconds or more. This is crucial for me. I don't see the point. Besides, I can't say I'm thrilled with the conditions. This broker is not my choice!
-
Comment
Weltrade has good conditions only in words. But in fact, they are ordinary scammers who register accounts in a company with offshore jurisdiction. And then they don’t even hide their mockery when you try to threaten them with claims to regulators. The Weltrade platform may not start for several hours during the day. And then there are huge gaps. And that's okay for them.
-
Comment
Initially, Weltrade was a fraudulent structure. Maybe they withdrew money for someone so that they would have something to refer to. But for the most part, these scammers deceived those who wanted to earn and simply took their money. Experienced traders did not trade with Weltrade, but novice traders fell into the trap of scammers.
Top 5 Reviews on NAGA
-
Comment
I am quite satisfied with NAGA. It is quite easy to start trading on the currency market, and the most important thing is that there is no fraud in withdrawing your profits. Learn to open sell or buy orders and that’s it. There is only one thing - spread is not very profitable. In general, I advise you to try trading here in any case.
-
Comment
NAGA is one of the good brokers. I like that there are no difficulties with withdrawing funds; I haven’t encountered any special manipulations to drain the deposit, but client support should improve its service to quickly respond to client requests. There is not much variety of trading instruments, but you can trade here.
-
Comment
The NAGA platform often experiences problems with continuous operation, which can lead to significant inconvenience. In my case, several times there were situations where my trades were not opened, and then appeared with unprofitable results. I contacted NAGA support to request cancellation of those trades, but I was told that the problem was with my internet connection and there was no reason to cancel the trades.
-
Comment
I believe that NAGA is a fraudulent company that is good at deceiving people. They pretend to be an honest company, but their conditions are difficult to monitor. In fact, after trading, the result turns out to be zero. I have decided to stop working with this broker and withdraw the balance from my account. However, NAGA accused me of fraud and blocked my account.
-
Comment
I believe that NAGA combines the worst qualities.I think that quotes can be manipulated here. There is no direct evidence yet, but I will now record a video of this company’s machinations, because NAGA’s strange quotes are being removed from history, it is difficult to prove anything without a video. I do not recommend this broker to you.
FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.
Olga’s motto: Do well and you’ll be well!