MultiBank vs NAGA - Fees Review included
Which broker is better MultiBank or NAGA? Our expert assessment conducted according to TU’s own methodology showed that MultiBank is one of the top brokers in the financial market with the TU Overall Score of 5.92 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 | MultiBank | NAGA |
|---|---|---|
Overall |
4.2 |
4.2 |
4.9 |
4.1 |
|
4.0 |
4.4 |
|
4.8 |
4.5 |
|
Investment Instruments |
4.8 |
4.9 |
Platforms and Charting Tools |
3.9 |
4.4 |
Deposit and Withdrawal |
4.3 |
2.9 |
Research |
3.1 |
3.1 |
Education |
2.8 |
3.5 |
Support |
4.1 |
3.6 |
Bonuses |
4.3 |
4.1 |
|
|
MultiBank vs NAGA: Pros and Cons
Established in 2005, MultiBank Group has successfully stamped its authority in the world of trading. It has a valid impact in the foreign exchange industry with providing exemplary products, services, and trading platforms. With a paid-up capital of over $322 million, MultiBank Group is recognized as one of the largest only financial derivatives providers worldwide. The Group is closely supervised by over 10 financial regulators worldwide across various jurisdictions, what ensures investor protection. Entities regulated by ASIC, BAFIN, CNMV, FMA, TFG, HKCE, AUSTRAC, VFSA, CIMA.
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.
| MultiBank | NAGA | |
|---|---|---|
| Overall Pros | Professional ECN accounts with floating spreads from 0.1 pips | Wide range of trading instruments |
| popular trading platforms MT4 and MT5, mobile apps and web terminals compatible with various OS and browsers | 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 | |
| several options for passive earnings including a service for copying trades, PAMM accounts, and an affiliate program | NAGA is registered with CySEC (Cyprus Securities and Exchange Commission) an authoritative European regulator | |
| 20,000+ CFD Products across six asset classes | Copy trading and PAMM services | |
| supervised by over 10 financial regulators worldwide across various jurisdictions | ||
| Overall Cons | trading restrictions on scalping | Limited choice of deposit and withdrawal methods |
| Limited education and research | ||
| High inactivity fee |
MultiBank vs NAGA: Safety and Regulation
| Regulated By: | MultiBank | NAGA |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
No |
CySec (Cyprus, EU) |
No |
Yes |
ASIC (Australia) |
Yes |
No |
Other Regulators |
AUSTRAC (Australia), BAFIN (Germany), CNMV (Spain), FMA (Liechtenstein), SMA (Singapore) TFG, HKCE, VFSA (Vanuatu), CIMA. |
No |
MultiBank vs NAGA: Trading Conditions
| Trading Conditions | MultiBank | NAGA |
|---|---|---|
Minimum Deposit |
$50 |
$250 |
Trading Platforms |
MT4, MT5, WebTrader, Mobile app |
МТ4, МТ5, NAGA Web App, NAGA iOS App, NAGA Android App |
Max Leverage (Futures) |
1-500 (no for all markets, EU, AU - 1-30, please look for your regulator rules) |
1-1000 |
Supported Markets |
Forex, Metals, Shares, Indices, Commodities, Cryptocurrencies |
Forex, stocks, cryptocurrency, indices, commodities, CFDs on stocks, precious metals, ETFs |
Trading assets |
20000+ |
950+ |
Trading Accounts |
Pro, ECN, Standard, Demo |
Demo, Iron Trader, Bronze Trader, Silver Trader, Gold Trader, Diamond Trader, Crystal Trader |
Base Account Currencies |
USD, GBP, EUR, CHF, AUD, AED, NZD, CAD |
USD, EUR, GBP, PLN, NGC |
MultiBank vs NAGA: Fees
Forex Trading Fees
| Fee | MultiBank | NAGA |
|---|---|---|
Standard Account EURUSD Average Spread |
1.7 pips |
1.2 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$3 per lot |
Not supported |
ECN Account EUR Average Spread |
0.1 pips |
Not supported |
CFD Trading Fees
| Fee | MultiBank | NAGA |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread, Stock CFDs - €0.99 per contract, ETF CFDs 0.1% |
Non-Trading Fees
| Fee | MultiBank | NAGA |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
$5 |
Inactivity Fee |
$60 per quarter after 3 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.
MultiBank vs NAGA: Trading Assets
| Asset Name | MultiBank | NAGA |
|---|---|---|
Overall |
20000+ |
950+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes |
ETFs |
No |
Yes |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
Yes |
Binary Options |
No |
No |
MultiBank or NAGA: Investment Programs
| Asset Name | MultiBank | NAGA |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
Yes |
Yes |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: NAGA or MultiBank
| MultiBank | NAGA | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
No |
Yes |
Others |
No |
No |
|
|
MultiBank vs NAGA: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | MultiBank | NAGA |
|---|---|---|
Bank Transfer |
Yes |
Yes (Only withdrawal) |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
No |
Crypto |
Yes |
Yes (Only deposit) |
MultiBank vs NAGA: Research
| Research Type | MultiBank | NAGA |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
No |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
No |
No |
E-Mail Reports |
NO |
No |
MultiBank vs NAGA: Education
| Education Type | MultiBank | NAGA |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
No |
No |
NAGA vs MultiBank: Support
| Support Features | MultiBank | NAGA |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
MultiBank vs NAGA: Forex Bonuses and Promo
| Promo | MultiBank | NAGA |
|---|---|---|
Forex Bonus |
“Trading Bonuses”, traders can benefit from various trading bonuses including the 20% deposit bonus whereby traders can earn a bonus up to $40,000 |
Only available for signal providers |
Affiliate Program |
“Introducing Broker Program”, this IB program is dedicated to benefit a community of 30,000+ IBs with one of the highest rebates and offers in the industry. “CPA Affiliate Program”, this CPA program allows digital marketers such as portal websites, media buyers, email marketers, affiliate networks, bloggers, and influencers of the forex or financial services community to earn a commission for every active trader they introduce to MultiBank Group. |
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 MultiBank
-
Comment
I think that MultiBank is a reliable and normal broker. Ask why? Because my money was drained with another company, and when I registered and started trading with MultiBank I had no problems. The quotes are real, and most importantly, I managed to earn $300 in 2 months with a deposit of $2,000, although I’m not that experienced. I think I’ll continue trading here and if anything changes — I’ll let you know.
-
Comment
I recommend working with MultiBank to everyone, and for novice traders I recommend trading on a demo account until you learn how to trade profitably. For normal trading, MultiBank requires a sufficient deposit. But with a small deposit there is absolutely nothing to do in the financial market. The platform is normal and with a good strategy you can make money here.
-
Comment
I’ve been trading with multibank for about a year. At first I started with a small deposit, as I wanted to check the conditions and had doubts about withdrawals. Yes, the first withdrawal was delayed for several days, but subsequent ones were without problems — withdrawals arrived on the day of requests. Personally, I have no problems with MultiBank, perhaps because I trade honestly and not aggressively.
-
Comment
It is strange to hear dissatisfaction from traders, especially from novice traders. You need experience to understand the quality of brokerage services. If traders trade with a huge leverage, lose everything, and then complain about the company, it’s not the company to blame. They would still have lost their money with such trading... No matter where. MultiBank is a normal company.
-
Comment
spent 2 years trading with Multi bank. I lost about $60,000 and the price almost never went up. It’s just that after opening orders, the price immediately bounces off and goes in the opposite direction. When I complained - they took action! But I’m just tired of such work.
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.