eToro Vs NAGA – What’s the Difference?

Platform Features

eToro offers a more comprehensive selection of financial instruments than NAGA does, including over 3000 financial instruments across six popular asset classes. However, both platforms are missing a few features that can make eToro more useful for advanced traders. For example, NAGA does not offer options or bonds.

Regardless of your experience level, customer support is vital in trading. If you have a question or need help, you should have access to live support. It is also important to know whether you’ll be able to access support from your broker. This support is essential if you’re a beginner or want to expand your trading experience.

eToro offers an investment platform with more than a dozen international markets. In addition to stocks, you can also invest in ETFs, commodities, and indices. eToro also offers no-commission trading for stocks and ETFs. The platform also offers competitive fees for trading other asset classes. In addition, you can deposit as little as $10, even if you don’t have a large sum of money. You can also deposit and withdraw money using credit cards, e-wallets, or bank transfers.

Copy Trading and Autotrading

eToro users can use copy trading to follow the trades of other investors. This new feature is called CopyTrader and allows you to follow up to 100 different traders. It also allows you to pause and resume your copy trading, add or remove funds, and more. If you have a live eToro account, you can access CopyTrader through the discover tab.

The eToro copy trading platform offers a huge selection of assets for copy trading. Its founders, Yoni Assia, David Ring, and Ronen Assia, launched the service in Tel Aviv in 2006. Since then, the company has become one of the world’s leading social trading networks.

eToro has several features that make copy trading easy for anyone to use. The platform offers multiple payment methods and supports more than 20 cryptocurrencies. eToro also offers a demo account, which includes $100,000 in virtual funds.

Education

If you’re looking for a trading platform with a wealth of educational material, eToro is one of the leading choices. They host daily blogs with trading tips and offer webinars that focus on financial markets. However, their education section could use more resources, including different sections for beginners and more experienced traders. Nevertheless, they offer 24 hour customer support, which is a great feature. However, their responses are often unhelpful.

Support

When comparing the two trading platforms, you will notice that eToro offers more trading tools and features. The platform also provides more than 50 cryptocurrencies to choose from. However, it is important to note that cryptocurrency investing is different from stock investing and requires different skills. If you’re unfamiliar with the process of cryptocurrency trading, eToro isn’t the right app for you.

Both eToro and NAGA offer multiple deposit methods and withdrawal methods. However, when you’re looking for the best broker, you should choose the one with the lowest deposit fees. Higher deposit fees are a nuisance because they eat into your profits. Both companies offer 24/7 support, and their customer support staff is always available to help.

Another thing to consider when choosing an online trading platform is the regulatory framework. For example, NAGA is regulated by the Cyprus Securities and Exchange Commission (CySEC) and abides by strict regulations to protect customers. The company is also subject to the EU’s MiFID financial harmonisation laws, which promote fair competition and customer protection.

Spreads and Fees

Traders should know about the spreads and fees offered by their brokers before making a trade. Without knowing this information, it’s easy to make an incorrect trade or lose money. Beginners usually fail to understand this aspect and end up losing money. The best way to avoid this scenario is to check and compare the spreads and fees offered by each broker.

eToro and NAGA have comparable spreads and fees. NAGA offers more than 15,000 financial assets. Its EUR/USD spread is 1.2 pips, which is a good spread in this industry, although you should note that it may come with commissions. NAGA charges commissions for CFD stocks, but not on other financial assets.

The NAGA brokerage is primarily geared towards experienced traders. It doesn’t have cent accounts, but it does offer a demo account and a host of other features. The company also offers a negative balance protection feature, which can be helpful for beginners. Its spreads are not the lowest in the industry, but they are decent for those just starting out.

Deposits and Withdrawals

The deposit and withdrawal process of both eToro and NAGA is generally easy and fast. However, there are some differences between the two brokers, such as the fees and commissions. When it comes to fees, you should always go for a broker that charges lower fees. Higher fees can detract from your profits.

The eToro account opening process is 100% digital, meaning that the average trader can get their account open within a day. This process involves entering some personal data, agreeing to the terms and conditions and providing proof of identity and residency.

NAGA provides a wide range of currencies and assets. In addition to Forex and stocks, the broker also offers non-major equity indices. Traders can invest in real and ETF stocks and enjoy low or no commissions.

Is NAGA better than eToro?

eToro offers more financial products and services than NAGA. It offers over 3000 different financial instruments in six different asset classes. However, NAGA lacks the MetaTrader platforms and other essential tools that traders need to make informed decisions. Also, NAGA does not offer options and bonds.

NAGA is a top range broker, founded in Germany in 2015. It is regulated by CySEC, FCA and the CNMV. However, it does not provide services to residents of the United States, UK, Israel, or the Islamic Republic of Iran.

While NAGA offers a free demo account, the trading platform also charges a commission for each transaction. The amount of this commission varies with different trading accounts and a trading signal provider. Generally, it is $0.10 to $0.30 per transaction. The amount depends on the number of active referrals, the type of trading account and the type of trading signal.

For serious traders, MAM (Multiple Account Manager) accounts are valuable. These accounts allow one trader to execute block trades across multiple accounts. While NAGA does not offer MAM accounts, it does offer an ECN (Electronic Communications Network) account for pure order matching. The disadvantage of this account is that ECN account providers charge a commission for executing trades, which increases raw spreads.