Quotex vs NAGA - Fees Review included
Which broker is better Quotex or NAGA? Our expert assessment conducted according to TU’s own methodology showed that Quotex is one of the top brokers in the financial market with the TU Overall Score of 7.76 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 | Quotex | NAGA |
|---|---|---|
Overall |
2.8 |
4.2 |
1 |
4.1 |
|
3.3 |
4.4 |
|
3.1 |
4.5 |
|
Investment Instruments |
1 |
4.9 |
Platforms and Charting Tools |
3.9 |
4.4 |
Deposit and Withdrawal |
4.6 |
2.9 |
Research |
1.5 |
3.1 |
Education |
2.3 |
3.5 |
Support |
3.0 |
3.6 |
Bonuses |
3.8 |
4.1 |
|
|
Quotex vs NAGA: Pros and Cons
QUOTEX is a broker specializing in binary options trading. The company was established in 2019. Its clients can trade currencies, metals, oil, cryptocurrencies, stock indices and earn a profit of up to 90% of the value of the option. QUOTEX has developed a proprietary trading platform which is easily customized, supports 29 technical indicators and allows investments from USD 10. The broker’s team provides support 24/7. Personal and payment information of the clients are protected with two-factor authentication
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.
| Quotex | NAGA | |
|---|---|---|
| Overall Pros | Affordable minimum investment amount – USD 10 | Wide range of trading instruments |
| No trading fees and no deposit, withdrawal and account fees | 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 | |
| Algorithmic trading is technically impossible | NAGA is registered with CySEC (Cyprus Securities and Exchange Commission) an authoritative European regulator | |
| Copy trading and PAMM services | ||
| Overall Cons | No Regulatory License | Limited choice of deposit and withdrawal methods |
Quotex vs NAGA: Safety and Regulation
| Regulated By: | Quotex | NAGA |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
No |
CySec (Cyprus, EU) |
Yes |
Yes |
ASIC (Australia) |
No |
No |
Other Regulators |
No |
No |
Quotex vs NAGA: Trading Conditions
| Trading Conditions | Quotex | NAGA |
|---|---|---|
Minimum Deposit |
$10 |
$250 |
Trading Platforms |
Own platform |
МТ4, МТ5, NAGA Web App, NAGA iOS App, NAGA Android App |
Max Leverage (Futures) |
Not provided technically |
1-1000 |
Supported Markets |
Currencies, raw materials, stocks |
Forex, stocks, cryptocurrency, indices, commodities, CFDs on stocks, precious metals, ETFs |
Trading assets |
80+ |
950+ |
Trading Accounts |
Single account for binary options trading |
Demo, Iron Trader, Bronze Trader, Silver Trader, Gold Trader, Diamond Trader, Crystal Trader |
Base Account Currencies |
USD, EUR, GBP, BRL, IDR, MYR, INR, KZT, RUB, THB, UAH, VND, NGN, MXN, EGP |
USD, EUR, GBP, PLN, NGC |
Quotex vs NAGA: Fees
Forex Trading Fees
| Fee | Quotex | NAGA |
|---|---|---|
Standard Account EURUSD Average Spread |
The reward depends on the type of asset and the situation at the time of the transaction. The amount of remuneration - 15-90% of the investment amount |
1.2 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 | Quotex | NAGA |
|---|---|---|
CFD Trading Fee |
Reward - 15-90% |
Floating spread, Stock CFDs - €0.99 per contract, ETF CFDs 0.1% |
Non-Trading Fees
| Fee | Quotex | NAGA |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
$5 |
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.
Quotex vs NAGA: Trading Assets
| Asset Name | Quotex | NAGA |
|---|---|---|
Overall |
80+ |
950+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
No |
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 |
Quotex or NAGA: Investment Programs
| Asset Name | Quotex | NAGA |
|---|---|---|
Copy Trading |
No |
Yes |
MAM/PAMM |
No |
Yes |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: NAGA or Quotex
| Quotex | NAGA | |
|---|---|---|
MT4 |
No |
Yes |
MT5 |
No |
Yes |
cTrader |
No |
No |
Appropriate platform |
No |
Yes |
Others |
Own trading platform |
No |
|
|
Quotex vs NAGA: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Quotex | NAGA |
|---|---|---|
Bank Transfer |
No |
Yes (Only withdrawal) |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
No |
Crypto |
Yes |
Yes (Only deposit) |
Quotex vs NAGA: Research
| Research Type | Quotex | NAGA |
|---|---|---|
News Feed |
No |
Yes |
Fundamental Data |
No |
Yes |
Chart Analysis |
No |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
No |
No |
Quotex vs NAGA: Education
| Education Type | Quotex | NAGA |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
Yes |
Articles |
No |
Yes |
Videos |
No |
Yes |
Cent account |
No |
No |
NAGA vs Quotex: Support
| Support Features | Quotex | NAGA |
|---|---|---|
Working Days |
24/7 |
24/5 |
No |
Yes |
|
Phone |
No |
Yes |
Online chat |
No |
Yes |
Other |
Feedback form |
No |
Quotex vs NAGA: Forex Bonuses and Promo
| Promo | Quotex | NAGA |
|---|---|---|
Forex Bonus |
Welcome bonus 30% when opening a real account. Cashback, bonus for using "deal cancellation" |
Only available for signal providers |
Affiliate Program |
Yes. Payouts up to 80% of income or up to 7% of referral turnover |
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 Quotex
-
Comment
Probably the best trading platform out there, saying this because I've used alot,the user interface is just superb couple with the simplicity, it's just too good,try it out you won't regret
-
Comment
I've been using Quotex for a while now and I'm comfortable with the platform. It's user-friendly and intuitive, which makes the registration process easy. The variety of assets available for trading is exciting, and trading operations have been smooth. I highly recommend it to anyone looking for a reliable app. Deposits and withdrawals are fast and trouble-free, which reassures me that I can easily deposit funds and withdraw profits quickly.
-
Comment
After a year with Quotex, I think it's a decent platform. I mainly trade EUR/USD and EUR/GBP through mt4, and the charts match up perfectly with Quotex's platform, no choppiness or unpredictability issues, unlike other brokers. Also, there's no sketchy stuff going on from what I can tell. You just need to put in the work studying the markets. My process is analyzing on mt4, then quickly executing trades on Quotex. So far my win rate is over 80%. I always test new strategies on the demo account first before going live. I started with just $100 and have grown it to $506 by actually understanding the fundamentals instead of blindly following indicators. While trading always carries risk, Quotex seems legit based on how it matches pricing across platforms.
-
Comment
Quotex is so far the fastest binary broker to navigate through and load, lightest and most convenient with deposits and withdrawals as it offers a wide number of payment options which makes it easy to use from any country in the world as per my experience from a couple of months using it. Quotex also has the fastest withdrawals as per my experience. It has a good looking interface too which doesn't bore or cause eye straining to the user, so you can stay before your screen for a very long time without disturbance. With Quotex, you can trade anywhere since it is very compatible with smartphones. Anyone who trades wisely (with patience, analysis and with no greed) is very more likely to grow financially. Hence I rate Quotex 5 stars!
-
Comment
Quotex platform is user friendly, easy to trade, simple view with Options quite clear for better understanding for beginners as well. Almost all the valuable currency pairs are available with commodities. Even the indicators sections have a variety of options. One of the best things I have found is deposits and withdrawals are fast.
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.