FXTM vs NAGA - Fees Review included
Which broker is better FXTM or NAGA? Our expert assessment conducted according to TU’s own methodology showed that FXTM is one of the top brokers in the financial market with the TU Overall Score of 5.9 out of 10. NAGA is one of the top brokers in the financial market with the TU Overall Score of 4.15 out of 10. Find out more about TU Overall Score.
| Feature | FXTM | NAGA |
|---|---|---|
Overall |
4.5 |
4.2 |
4.9 |
4.1 |
|
4.7 |
4.4 |
|
4.5 |
4.5 |
|
Investment Instruments |
4.2 |
4.9 |
Platforms and Charting Tools |
4.3 |
4.4 |
Deposit and Withdrawal |
4.6 |
2.9 |
Research |
4.5 |
3.1 |
Education |
4.6 |
3.5 |
Support |
4.4 |
3.6 |
Bonuses |
2.9 |
4.1 |
|
|
FXTM vs NAGA: Pros and Cons
Broker FXTM (pronounced "ForexTime") started in 2011. It provides an opportunity to make a profit through active trading or investment programs. The company is regulated by CySEC (Cyprus Securities and Exchange Commission), South African FSCA (Financial Sector Supervision Authority), UK FCA (Financial Conduct Authority), and FSC (Mauritius Financial Supervisory Commission). The broker has received many awards, including "Best Trading Conditions" (2018, 2019) and "Most Innovative Broker" (2018).
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.
| FXTM | NAGA | |
|---|---|---|
| Overall Pros | Direct US stock trading with zero fees | Wide range of trading instruments |
| Stock baskets | 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 | |
| 3 types of ECN accounts | NAGA is registered with CySEC (Cyprus Securities and Exchange Commission) an authoritative European regulator | |
| Low fees and near zero spreads | Copy trading and PAMM services | |
| Well regulated forex broker | ||
| FXTM invest copy trading platform | ||
| Trading signals and trading calculators tools | ||
| Overall Cons | Lack of cryptocurrency | Limited choice of deposit and withdrawal methods |
FXTM vs NAGA: Safety and Regulation
| Regulated By: | FXTM | NAGA |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
Yes |
No |
CySec (Cyprus, EU) |
Yes |
Yes |
ASIC (Australia) |
No |
No |
Other Regulators |
ForexTime is registered with the UK Financial Conduct Authority (FCA) under the number 600475 and is regulated by the CySEC of Cyprus (under number 185/12) and the South African FSCA (number 46614). The broker is also regulated by the Financial Services Commission of the Republic of Mauritius, FSC (number C113012295). |
No |
FXTM vs NAGA: Trading Conditions
| Trading Conditions | FXTM | NAGA |
|---|---|---|
Minimum Deposit |
$50 |
$250 |
Trading Platforms |
MT4, MT5 |
МТ4, МТ5, NAGA Web App, NAGA iOS App, NAGA Android App |
Max Leverage (Futures) |
1-2000 (not for all markets) |
1-1000 |
Supported Markets |
Forex, Stocks, CFDs on stocks, indexes, Commodities, Metals |
Forex, stocks, cryptocurrency, indices, commodities, CFDs on stocks, precious metals, ETFs |
Trading assets |
1000+ |
950+ |
Trading Accounts |
Standard, Cent, Stocks, Stock CFDs, ECN , ECN Zero, FXTM pro |
Demo, Iron Trader, Bronze Trader, Silver Trader, Gold Trader, Diamond Trader, Crystal Trader |
Base Account Currencies |
USD, EUR, GBP, NGN |
USD, EUR, GBP, PLN, NGC |
FXTM vs NAGA: Fees
Forex Trading Fees
| Fee | FXTM | NAGA |
|---|---|---|
Standard Account EURUSD Average Spread |
1.5 pips |
1.2 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$2 per lot |
Not supported |
ECN Account EUR Average Spread |
0.1 pips |
Not supported |
CFD Trading Fees
| Fee | FXTM | NAGA |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread, Stock CFDs - €0.99 per contract, ETF CFDs 0.1% |
Non-Trading Fees
| Fee | FXTM | NAGA |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
Bank 30 EUR, Card - 3 USD / 2 EUR / 2 GBP, FacaPay - 0.5% |
$5 |
Inactivity Fee |
$5 per month after 6 months of inactivity |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
FXTM vs NAGA: Trading Assets
| Asset Name | FXTM | NAGA |
|---|---|---|
Overall |
1000+ |
950+ |
Forex |
Yes |
Yes |
Stocks |
Yes |
Yes |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
No |
Yes |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes |
ETFs |
Yes (CFD) |
Yes |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
Yes |
Yes |
Binary Options |
No |
No |
FXTM or NAGA: Investment Programs
| Asset Name | FXTM | NAGA |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
No |
Yes |
Managed Accounts |
Yes |
No |
Other |
No |
No |
Trading Platforms: NAGA or FXTM
| FXTM | NAGA | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
FXTM invest |
Yes |
Others |
No |
No |
|
|
FXTM vs NAGA: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | FXTM | NAGA |
|---|---|---|
Bank Transfer |
Yes |
Yes (Only withdrawal) |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
No |
Crypto |
No |
Yes (Only deposit) |
FXTM vs NAGA: Research
| Research Type | FXTM | NAGA |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
Yes |
No |
FXTM vs NAGA: Education
| Education Type | FXTM | NAGA |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
Yes |
No |
NAGA vs FXTM: Support
| Support Features | FXTM | NAGA |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
callback, Telegram, Messenger Facebook, WhatsApp, |
No |
FXTM vs NAGA: Forex Bonuses and Promo
| Promo | FXTM | NAGA |
|---|---|---|
Forex Bonus |
cashback of up to $5 |
Only available for signal providers |
Affiliate Program |
Refer a friend. For each new invited client, the partner receives $50 |
No |
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. |
|
|
|
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.
Top 5 Reviews on FXTM
-
Comment
I noticed a great difference between trading on a demo account and a live one with FXTM. There were no requotes or significant slippages on the demo account, which created the illusion of simple trading. However, when switching to a live account on the FXTM platform, some technical problems arose that made successful trading difficult. Apparently, real conditions require a more attentive and cautious approach to trading.
-
Comment
One day I decided to try my hand at trading with FXTM. However, they don't seem to be very interested in new traders. Managers from FXTM did not even want to help me complete the verification procedure to withdraw funds. In the end, I earned some money, provided them with the necessary documents, but they still blocked my user account when I submitted a withdrawal request. They refused to even discuss it and treated me rudely. FXTM managers are simply disrespectful.
-
Comment
I decided not to trade with FXTM. I won’t deny it, I limited myself to only testing a demo account with this company. It turned out that the order execution speed is very low, so orders are opened at unprofitable prices, and it is impossible to conduct a normal market analysis. I think I'm not the only one who encountered such problems at FXTM.
-
Comment
FXTM is creating problems when traders execute successful trades. At first glance, they give traders the opportunity to work and even withdraw small amounts of profit. However, as soon as profitable operations begin, difficulties occur. Withdrawing funds becomes problematic as support begins to suspect its clients of “dubious trades”. I don't recommend FXTM.
-
Comment
FXTM is a dishonest broker! I don’t even want to recall how I was deceived here! The support assured that everything was transparent and there was no manipulation. Then why does the price always, before closing an order, suddenly go against me? And it would be okay if it were on several trades! But this happens all the time! FXTM just completely took my deposit!
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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.