NAGA vs Topstep - Fees Review included
Which broker is better NAGA or Topstep? 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. Topstep is one of the top brokers in the financial market with the TU Overall Score of 9.65 out of 10. Find out more about TU Overall Score.
| Feature | NAGA | Topstep |
|---|---|---|
Overall |
4.2 |
2.5 |
4.1 |
1 |
|
4.4 |
2.5 |
|
4.5 |
2.7 |
|
Investment Instruments |
4.9 |
2.0 |
Platforms and Charting Tools |
4.4 |
4.8 |
Deposit and Withdrawal |
2.9 |
2.8 |
Research |
3.1 |
1 |
Education |
3.5 |
3.9 |
Support |
3.6 |
2.1 |
Bonuses |
4.1 |
2.1 |
|
|
|
NAGA vs Topstep: 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.
The TopStep broker is an international intermediary registered in the USA. The company has been providing financial services since 2012 and offers exclusive trading terms for clients from different countries. TopStep provides financing of real trading accounts of its clients if they prove the skill to make trades and manage risks on a simulation account. Traders can trade CME Group futures and currency pairs. Trading on real accounts is carried out through the ECN broker Equiti Capital
| NAGA | Topstep | |
|---|---|---|
| Overall Pros | Wide range of trading instruments | Loyal testing conditions: trading activity - from 5 days (for most competitors - from 10 days), a relatively high percentage of allowable maximum drawdown |
| 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 | There is no time limit to achieve the target profit. At the end of the term, the subscription is renewed with the preservation of the money earned up to this point | |
| NAGA is registered with CySEC (Cyprus Securities and Exchange Commission) an authoritative European regulator | Before paying monthly e-subscription, there is the possibility of free testing of the platform for 14 days | |
| Copy trading and PAMM services | High level of remuneration in comparison with competitors after passing the test: 100% profit from the first 5000 USD and 80% from subsequent trading | |
| It is possible to open multiple subscriptions - multiple accounts Trading Combin | ||
| Overall Cons | Limited choice of deposit and withdrawal methods | There are restrictions on fundamental trading: at the time of the release of important news, transactions must be closed |
| No information about licenses. The investor does not know who controls the platform and who to contact in case of protecting their interests | ||
| Relatively difficult to understand trading conditions of Step 1 and Step 2 of the Trading Combine. The trader must keep track of the scaling plan, daily and weekly drawdown, close trades at the time of news releases, etc. | ||
| When switching to a real trading account, there are requirements for a mandatory subscription to professional exchange data - additional fixed costs for the trader |
NAGA vs Topstep: Safety and Regulation
| Regulated By: | NAGA | Topstep |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
No |
CySec (Cyprus, EU) |
Yes |
No |
ASIC (Australia) |
No |
No |
Other Regulators |
No |
If you are interested in the issue of a license, ask the support through which broker the company offers access to CME from a real account. And ask the broker directly about the license |
NAGA vs Topstep: Trading Conditions
| Trading Conditions | NAGA | Topstep |
|---|---|---|
Minimum Deposit |
$250 |
The minimum subscription cost is 165 USD/month - the cost of the trial period |
Trading Platforms |
МТ4, МТ5, NAGA Web App, NAGA iOS App, NAGA Android App |
NinjaTrader, TradingView, TSTrader and other |
Max Leverage (Futures) |
1-1000 |
|
Supported Markets |
Forex, stocks, cryptocurrency, indices, commodities, CFDs on stocks, precious metals, ETFs |
CME Equity Futures, CME Foreign Exchange Futures, CME Agricultural Futures, CME NYMEX Futures, Futures of CME CBOT |
Trading assets |
950+ |
35+ |
Trading Accounts |
Demo, Iron Trader, Bronze Trader, Silver Trader, Gold Trader, Diamond Trader, Crystal Trader |
Trading Combine - an account for passing the test, which consists of two Steps. Funded Account and Premium Funded Account - real accounts provided after passing the test |
Base Account Currencies |
USD, EUR, GBP, PLN, NGC |
USD |
NAGA vs Topstep: Fees
Forex Trading Fees
| Fee | NAGA | Topstep |
|---|---|---|
Standard Account EURUSD Average Spread |
1.2 pips |
Market stock spread |
Standard Account Fee |
$0 |
$0.3-0.62 - TSTrader, $0.8-1.12 for other platforms for each contract. There is also a brokerage fee of 2.5-3.1 USD per contract, depending on the instrument |
ECN/STP Account Fee |
Not supported |
Not supported |
ECN Account EUR Average Spread |
Not supported |
Not supported |
CFD Trading Fees
| Fee | NAGA | Topstep |
|---|---|---|
CFD Trading Fee |
Floating spread, Stock CFDs - €0.99 per contract, ETF CFDs 0.1% |
Market stock spread |
Non-Trading Fees
| Fee | NAGA | Topstep |
|---|---|---|
Account Fee |
No |
$116-$132/month for each exchange you are trading |
Deposit Fee |
No |
No |
Withdrawal Fee |
$5 |
No |
Inactivity Fee |
No |
If trading is inactive, the account subscription expires after a while |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
NAGA vs Topstep: Trading Assets
| Asset Name | NAGA | Topstep |
|---|---|---|
Overall |
950+ |
35+ |
Forex |
Yes |
No |
Stocks |
Yes |
No |
Metals |
Yes (CFD) |
No |
Cryptocurrencies |
Yes |
No |
Energy |
Yes (CFD) |
No |
Indices |
Yes |
No |
ETFs |
Yes |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
Yes |
Yes |
Binary Options |
No |
No |
NAGA or Topstep: Investment Programs
| Asset Name | NAGA | Topstep |
|---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
Yes |
No |
Managed Accounts |
No |
No |
Other |
No |
Getting into management an account with a real deposit after passing a two-stage test. You invest in your own development |
Trading Platforms: Topstep or NAGA
| NAGA | Topstep | |
|---|---|---|
MT4 |
Yes |
No |
MT5 |
Yes |
No |
cTrader |
No |
No |
Appropriate platform |
Yes |
No |
Others |
No |
TSTrader, NinjaTrader and +10 other platforms |
|
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NAGA vs Topstep: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | NAGA | Topstep |
|---|---|---|
Bank Transfer |
Yes (Only withdrawal) |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
No |
No |
Crypto |
Yes (Only deposit) |
No |
NAGA vs Topstep: Research
| Research Type | NAGA | Topstep |
|---|---|---|
News Feed |
Yes |
No |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
No |
Trading Ideas |
No |
No |
E-Mail Reports |
No |
No |
NAGA vs Topstep: Education
| Education Type | NAGA | Topstep |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Free version of the platform before subscribing for 14 days |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
No |
No |
Topstep vs NAGA: Support
| Support Features | NAGA | Topstep |
|---|---|---|
Working Days |
24/5 |
Weekdays: 7:00 am to 6:00 pm CST |
Yes |
No |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
No |
Other |
No |
NAGA vs Topstep: Forex Bonuses and Promo
| Promo | NAGA | Topstep |
|---|---|---|
Forex Bonus |
Only available for signal providers |
No |
Affiliate Program |
No |
Reward 50 USD for each referral who opened a Trading Combine account |
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. |
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Top 5 Reviews on Topstep
-
Comment
Signing up on TopStep is easy and fast. The first stage requires your personal information and ther second stage requires you to verify your account, which requires verifying the code sent to your line. This platform integrates a technical analysis blog series for beginners, which was what helped me get started and update what i know about technical analysis. The blog touches on how to use chart patterns and statistical indicators to identify trends, support and resistance levels, and potential entry and exit points for trades. With free coaching and educational materials developed by seasoned traders, Topstep prioritizes education above all else.
-
Comment
One of the steps you must take to get your evaluation underway is selecting a trading platform. Qwantower is a good platform to start with as you won't pay fees for trading combine or funded account. I prefer this trading platform because of the synchro connection to other brokers. However, if you are using windows you may need to download the .NET 8.0 DESKTOP RUNTIME (v8.0.3) windows x64 installer for this program to install on your PC if it is not yet installed.
-
Comment
topstep is a good company. There are not very high fees and quite tight spreads. The topstep platform differs from other companies in that the deposit does not go into minus, but positions are simply closed if the drawdown reaches the set level. And there is also no possibility of placing counter trades. It is more convenient to trade here if your deposit is above $1,000.
-
Comment
Impressions from Topstep can be assessed as positive. It always fully meets my requirements for successful trading. I prefer to use my own indicators and here I have to limit myself to the available capabilities. However, it is worth noting that Topstep provides a wide choice of available assets for trading. Order execution is quite fast.
-
Comment
The broker Topstep offers investors to manage capital, but to do this, you need to undergo testing and meet certain requirements of the company. The testing period is 30 days, and the conditions are quite acceptable. I am currently trying to pass the Topstep evaluation for a $25,000 deposit. I think it will work out.
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.