The 25M+ eToro trading community benefits from CopyTrader, CopyPortfolios, and in-house managed thematic investment portfolios. Beginners get a quality educational portal with eToro Academy, eToro plus, and The Bull Club. eToro also expanded further in cryptocurrencies with a newly launched NFT fund.
NAGA is a fast-growing social trading broker headquartered in Germany, where its 2017 IPO ranked as the most successful that year. Traders get the MT4/MT5 trading platforms for algorithmic portfolio management. It also developed a popular mobile app and payment solution, issued its cryptocurrency coin, and remains financially backed by well-known investors. NAGA also launched its NAGAx crypto exchange and features quality education.
We have conducted an in-depth review of eToro and NAGA to determine which one presents the better overall choice and which traders will benefit the most at either broker.
- Features and Platforms
- Available Markets
- Typical Spreads and Fees
- Security and Trust
- eToro vs. NAGA - Verdict
 |  | |
Headquarters | Israel | Germany |
Regulators | ASIC, CySEC, FCA, FSA | CySEC |
Tier 1 Regulator(s)? | ||
Owned by Public Company? | ||
Year Established | 2007 | 2009 |
Execution Type(s) | Market Maker | ECN/STP |
Minimum Deposit | $50 - $10,000 | $50 |
Negative Balance Protection | N/A | |
Trading Platform(s) | Proprietary platform | MetaTrader 4, MetaTrader 5, Proprietary platform, Web-based |
Average Trading Cost EUR/USD | N/A | 1.5 pips ($15.00) |
Average Trading Cost GBP/USD | 2.2 pips | 1.5 pips ($15.00) |
Average Trading Cost WTI Crude Oil | $0.05 | $0.04 |
Average Trading Cost Gold | $0.45 | $0.38 |
Retail Loss Rate | 74% | N/A |
Minimum Raw Spreads | 0.8 pips | N/A |
Minimum Standard Spreads | 1.3 pips | N/A |
Minimum Commission for Forex | $0.00 | N/A |
Islamic Account | ||
Signals | ||
US Persons Accepted? | ||
Managed Accounts | ||
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Features and Platforms
| | |
MT4 | ||
MT5 | ||
MT4/MT5 Add-Ons | N/A | |
cTrader | ||
Proprietary Platform | ||
Automated Trading | ||
Social/Copy Trading | N/A | |
DOM? | ||
Guaranteed Stop Loss | ||
Scalping | ||
Hedging | ||
One-Click Trading | ||
OCO Orders | ||
Interest on Margin | ||
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Noteworthy:
eToro has more active social traders, but NAGA has a broader product and services portfolio resulting in a more competitive and cheaper trading environment.
Available Markets
| | |
Currency Pairs | ||
Cryptocurrencies | ||
Commodities | ||
Crude Oil | ||
Gold | ||
Metals | ||
Equity Indices | ||
Stocks (non-CFDs) | ||
Bonds | N/A | |
ETFs | ||
Options | N/A | |
Futures | ||
Synthetics | ||
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Both brokers offer traders a balanced asset selection with sufficient trading instruments for most retail traders. eToro has more than twice as many equity CFDs as NAGA and provides in-house managed thematic portfolios. NAGA offers higher leverage in its non-EU entity and maintains a better cryptocurrency coverage, and both also feature direct share dealing for long-term investors.
Typical Spreads and Fees
| | |
Average Trading Cost EUR/USD | N/A | 1.5 pips ($15.00) |
Average Trading Cost GBP/USD | 2.2 pips | 1.5 pips ($15.00) |
Average Trading Cost WTI Crude Oil | $0.05 | $0.04 |
Average Trading Cost Gold | $0.45 | $0.38 |
Average Trading Cost Bitcoin | $574 | $124.70 |
Minimum Raw Spreads | 0.8 pips | N/A |
Minimum Standard Spreads | 1.3 pips | N/A |
Minimum Commission for Forex | $0.00 | N/A |
Deposit Fee | N/A | |
Withdrawal Fee | N/A | |
Inactivity Fee | $10 monthly after 12 monthd | N/A |
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eToro and NAGA both maintain relatively higher-end Forex trading costs, which NAGA lowers for deposits above $50,000. Equity CFDs at eToro face a 0.09% commission and a €1.98 to €5.00 flat fee at NAGA, making it cheaper for most CFD traders, but eToro offers commission-free direct share dealing.
Security and Trust
| | |
Country of the Regulator | Australia, Cyprus, Seychelles, United Kingdom | Cyprus, Seychelles |
Name of the Regulator | ASIC, CySEC, FCA, FSA | CySEC |
Regulatory License Number | 491139, 109/10, 583263, SD076 | 204/13, SD026 |
Regulatory Tier | N/A | 1, 4 |
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While eToro and NAGA both segregate client deposits from corporate funds, offer negative balance protection, and have clean track records, eToro also has a $1,000,000 third-party insurance program underwritten by Lloyd's of London. Most international traders at NAGA will deal with the unregulated but duly registered unit operating from St. Vincent and the Grenadines, company number 1189 LLC 2021. NAGA is also a publicly listed company in Germany.
eToro vs NAGA – Verdict
eToro
| Pros | Cons |
| Copy-trading with a community numbering almost 25 million traders | Higher minimum deposit requirement but within a reasonable range |
| User-friendly web-based trading platform and mobile app | Absence of MT4 and no algorithmic trading |
| Quality educational offering for beginner traders via videos | |
| Balanced asset selection with a focus on equity CFDs and ETFs |
NAGA
| Pros | Cons |
| Active social trading community with 1M+ traders | Above-average trading costs |
| 950+ assets, including a broad choice of cryptocurrency CFDs | High minimum deposit requirement |
| Publicly listed company in Germany backed by Chinese conglomerate FOSUN | |
| Excellent in-house developed copy trading infrastructure |
eToro and NAGA are social trading brokers. The former has more active traders, but the latter maintains a higher quality product and services portfolio. NAGA also offers a superior compensation plan per copied trade, which increases with the account level and supports algorithmic trading, making it the better overall choice.
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