NAGA vs OspreyFX - Fees Review included
Which broker is better NAGA or OspreyFX? 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. OspreyFX is one of the top brokers in the financial market with the TU Overall Score of 2.44 out of 10. Find out more about TU Overall Score.
| Feature | NAGA | OspreyFX |
|---|---|---|
Overall |
4.2 |
2.3 |
4.1 |
1 |
|
4.4 |
2.3 |
|
4.5 |
2.7 |
|
Investment Instruments |
4.9 |
2.1 |
Platforms and Charting Tools |
4.4 |
4.3 |
Deposit and Withdrawal |
2.9 |
2.1 |
Research |
3.1 |
1.4 |
Education |
3.5 |
3.4 |
Support |
3.6 |
1.6 |
Bonuses |
4.1 |
1.8 |
|
|
|
NAGA vs OspreyFX: 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.
OspreyFX is an STP broker that operates on the A Book model and uses ECN technology. It was registered in Saint Vincent and the Grenadines in 2018 and currently is applying for a dealer license. The company offers clients FX and CFD trading, including indices, commodities, stock indices, and cryptocurrencies. Traders can open ECN accounts and trade via mobile or desktop terminals using MetaTrader 4/5 or WebTrader with high leverage
| NAGA | OspreyFX | |
|---|---|---|
| Overall Pros | Wide range of trading instruments | The size of the minimum deposit is available even to novice traders |
| 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 | High leverage - up to 1:500 | |
| NAGA is registered with CySEC (Cyprus Securities and Exchange Commission) an authoritative European regulator | High speed of execution of transactions - 94% of orders are executed at a speed of 30-50ms | |
| Copy trading and PAMM services | Honest spread, taking into account the broker's markup. Virtually no expansion during times of abnormal volatility due to direct access to liquidity providers | |
| In addition to active trading tools, the “funded trader” program is presented, which allows you to manage up to 200 thousand USD after passing the test | ||
| Overall Cons | Limited choice of deposit and withdrawal methods | Rigid tariff policy, more suitable for traders with active speculative strategies |
| The helpdesk is overly automated. To contact the operator, you need to answer a lot of questions from the bot. Operators respond to unregistered users with general phrases without specifics |
NAGA vs OspreyFX: Safety and Regulation
| Regulated By: | NAGA | OspreyFX |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
No |
CySec (Cyprus, EU) |
Yes |
No |
ASIC (Australia) |
No |
No |
Other Regulators |
No |
No |
NAGA vs OspreyFX: Trading Conditions
| Trading Conditions | NAGA | OspreyFX |
|---|---|---|
Minimum Deposit |
$250 |
Standard - $50, Pro - $500, VAR - $250, Mini - $25 |
Trading Platforms |
МТ4, МТ5, NAGA Web App, NAGA iOS App, NAGA Android App |
МТ4 (including brouser version), МТ5 |
Max Leverage (Futures) |
1-1000 |
1-500 |
Supported Markets |
Forex, stocks, cryptocurrency, indices, commodities, CFDs on stocks, precious metals, ETFs |
FX, Indices, Commodities, Metals, Stocks, Cryptos |
Trading assets |
950+ |
120+ |
Trading Accounts |
Demo, Iron Trader, Bronze Trader, Silver Trader, Gold Trader, Diamond Trader, Crystal Trader |
Standard, Pro, VAR, Mini |
Base Account Currencies |
USD, EUR, GBP, PLN, NGC |
USD |
NAGA vs OspreyFX: Fees
Forex Trading Fees
| Fee | NAGA | OspreyFX |
|---|---|---|
Standard Account EURUSD Average Spread |
1.2 pips |
Not supported |
Standard Account Fee |
$0 |
Not supported |
ECN/STP Account Fee |
Not supported |
Standard - $8, Pro - $7, VAR - $0, Mini - $1 |
ECN Account EUR Average Spread |
Not supported |
0.7-0.8 pips |
CFD Trading Fees
| Fee | NAGA | OspreyFX |
|---|---|---|
CFD Trading Fee |
Floating spread, Stock CFDs - €0.99 per contract, ETF CFDs 0.1% |
Floating spread |
Non-Trading Fees
| Fee | NAGA | OspreyFX |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
$5 |
No |
Inactivity Fee |
No |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
NAGA vs OspreyFX: Trading Assets
| Asset Name | NAGA | OspreyFX |
|---|---|---|
Overall |
950+ |
120+ |
Forex |
Yes |
Yes |
Stocks |
Yes |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes |
Yes (CFD) |
ETFs |
Yes |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
Yes |
No |
Binary Options |
No |
No |
NAGA or OspreyFX: Investment Programs
| Asset Name | NAGA | OspreyFX |
|---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
Yes |
No |
Managed Accounts |
No |
No |
Other |
No |
There is a "Funded Trader" program. A trader must show on a test account that he can earn money by observing risk management. In case of success, the trader receives a real account with an amount of up to 200 thousand USD in management. Conditions: exam price - from 250 USD, trading: minimum 10 days within 1 month, maximum daily drawdown - 5%, total - 12% |
Trading Platforms: OspreyFX or NAGA
| NAGA | OspreyFX | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
Yes |
No |
Others |
No |
Web Trader (browser version of the platform of MetaQuotes). Forex Squad - own learning platform |
|
|
|
NAGA vs OspreyFX: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | NAGA | OspreyFX |
|---|---|---|
Bank Transfer |
Yes (Only withdrawal) |
No |
Debit Card |
Yes |
Yes |
Electronic Wallets |
No |
Yes |
Crypto |
Yes (Only deposit) |
Yes |
NAGA vs OspreyFX: Research
| Research Type | NAGA | OspreyFX |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
No |
Trading Ideas |
No |
No |
E-Mail Reports |
No |
No |
NAGA vs OspreyFX: Education
| Education Type | NAGA | OspreyFX |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
No |
Articles |
Yes |
Yes |
Videos |
Yes |
No |
Cent account |
No |
No |
OspreyFX vs NAGA: Support
| Support Features | NAGA | OspreyFX |
|---|---|---|
Working Days |
24/5 |
24/7 |
Yes |
No |
|
Phone |
Yes |
No |
Online chat |
Yes |
Yes |
Other |
No |
feedback form |
NAGA vs OspreyFX: Forex Bonuses and Promo
| Promo | NAGA | OspreyFX |
|---|---|---|
Forex Bonus |
Only available for signal providers |
No |
Affiliate Program |
No |
Affiliate program with a reward of 2.5 USD for each lot conducted by the referral. The broker provides marketing packages with information materials and provides training free of charge |
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. |
Contests with small deposit |
|
|
|
Top 5 Reviews on OspreyFX
-
Comment
For me, the downside of trading with OspreyFX is the wide spreads. For the EUR/USD pair, the average spread is 6.5 pips. This is quite a lot for those who trade actively. I engage in medium-term trading, holding orders for one or two days. Therefore, such a wide spread at OspreyFX does not play a key role for me. Other than that, trading suits me fine.
-
Comment
I do not recommend contacting OspreyFX. Everything here is dubious and non-transparent, promises of its managers are a complete lie. They call and promise success and excellent earnings. You open a trading account and at first everything is fine. But after a while they begin to lead you to bankruptcy. OspreyFX managers ask you to fund your account and claim that their task is to help you. This is a total scam, don't trust OspreyFX.
-
Comment
I strongly do not recommend working with OspreyFX! The problem, even the simplest one, cannot be solved. I requested a withdrawal of $800 and asked for the transfer to be completed without delay. However, they delayed it by more than two weeks! This was done on purpose! No one answered my messages and calls, and no one apologized or explained the situation.
-
Comment
The ospreyfx.com website does not provide information about the company holding a license from a European regulator. The legal address of the so-called broker is in Kingstown, which is a convenient place to conceal dubious activities and scams. I do not recommend collaborating with OspreyFX; it is not trustworthy. Most likely, the money you transfer to them will not be returned.
-
Comment
ospreyfx.com does not have a regulatory license. The broker’s website claims that it doesn’t provide its services only to U.S. citizens. But if the company does not have a license from the European regulator, it cannot offer its services here either. I strongly do not recommend opening an account here. Most likely, you will simply lose your money.
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.
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.