Comparing OANDA and NAGAA 2023 Broker Comparison
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Prepare for an epic clash between two financial titans! We’re putting the spotlight on OANDA and NAGA, two heavyweights of the trading world. Brace yourself for a comprehensive comparison as we dissect each company’s strengths, weaknesses, and standout features. This extensive guide will equip you with the knowledge to make a savvy decision on which broker is your winning choice.
Trading Smackdown:
OANDA vs NAGA – Who Comes Out on Top?
If you are on the lookout for a brokerage that has a global reach, then Oanda might just be the one for you. Established in 1996, this New York-based platform has set its sights on becoming a world leader in online trading. They pride themselves on catering to the needs of traders who are keen on investing in global markets.
On the other hand, NAGA is a brokerage that’s all about creating a community. Specializing in CFDs and social trading, the company has carved out a niche for itself by providing traders and investors with a platform to test their skills and learn from each other via Copy Trading. This global brokerage is committed to providing its users with a social trading experience like no other.
Which Financial Powerhouse Reigns Supreme?
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Copy Trading Available
120+ Trading Assets
Minimum Deposit: as Low as $1
2 Account Types to Choose From
Charges a Monthly Inactivity Fee
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Social Trading – Copy Trading
1000+ Financial Products to Discover
Minimum Deposit: $ $250
6 Different Trading Accounts to Choose From
Withdrawal Fees
Understanding the Distinctions Between These Two Financial Heavyweights
When it comes to trading, choosing the right account type can be critical. Both OANDA and NAGA offer different types of accounts to suit different traders’ needs. OANDA provides two account types, each designed for a specific type of trader. With up to 70 FX pairs on offer, traders can diversify their portfolios. For more experienced traders, OANDA’s higher-tier accounts come with a dedicated account manager to provide personalized support and guidance. Additionally, the broker offers exciting features such as the Advanced Trader loyalty program, which rewards traders with advanced tiers and cash rebates.
NAGA, on the other hand, offers six different trading accounts, each with its own benefits. From the basic Iron account to the premium Crystal account designed for institutional traders, NAGA has something for everyone. Depending on the account type, traders can enjoy low spreads, no commission charges on trades, and various bonuses such as copy trade earnings. Each account also comes with a PI Dashboard to help traders analyze their performance, and higher-tier accounts offer additional benefits such as trade alerts, access to webinars, and one-on-one tutoring sessions.
Free Demo Account
Floating Spread
Leverage up to 1:100
Free Demo Account
Floating Spread
Maximum Leverage is 1:30
Finding Your Trading Match
OANDA | NAGA | |
Platform | MetaTrader4 (MT4), the award-winning OANDA custom-designed Web Trading Platform, or TradingView |
MT4, MT5, and custom-designed XM Web Trading Platform |
Social and Copy Trading Trading | Copy Trading Available | Social Trading – Copy Trading |
Trading App | Award-winning mobile app | Naga App (iOS/Android) |
Leverage | Boosted leverage up to 1:100 for professional traders | Leverage of 1:30 is provided (EU) |
Commission | No commissions on standard accounts | No commissions on standard and micro accounts, $3.5 per $100,000 traded on the XM Zero account |
Experience the Excitement of Trading Top-Ranked Assets with Ease!
OANDA offers up to 70 FX pairs and over 120 CFD instruments, including major, minor, and exotic currency pairs, with commissions as low as 0.25% when buying Bitcoin through their mobile app. On the other hand, NAGA offers access to a wide variety of currency pairs, CFD stocks, indices, commodities, ETFs, real stocks, and futures, with tight spreads on popular pairs like EUR/USD, EUR/GBP, and GBP/USD. They also offer over 370 real stocks of global companies and the flexibility of popular CFDs, allowing traders to diversify their portfolios and access a wider range of assets.
Scorecard Showdown: OANDA vs NAGA
Efficient and Effective Support:
Interact with High-Performance Teams
OANDA is dedicated to providing exceptional customer service to its clients, with a team of knowledgeable professionals always ready to assist with any questions or concerns through its client support center. Moreover, the broker offers an advanced and innovative Help portal to provide traders with all the necessary assistance.
NAGA also prioritizes top-notch customer support and has a team committed to delivering professional service to all traders. They offer multilingual services and allow traders to contact customer support via phone or email based on location to make inquiries easily.
How Regulatory Standards are Met
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CySEC
FCA
ASIC
IIROC in Canada
Commodity Futures Trading Commission (CFTC) in the US
Frankfurt Stock Exchange
Strict KYC and AML procedures
Leveraged trading is high risk. Losses can exceed deposits.
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CySEC
FCA
ASIC
IIROC
Registered Money Services Business (MSB) with the Financial Crimes Enforcement Network (FinCEN) in the United States
NAGA is a member of a German financial holding company NAGA Group AG, that is in demand on the Frankfurt Stock Exchange
Strict KYC and AML procedures
Leveraged trading is high risk. Losses can exceed deposits.
Overall Commissions & Fees Rating
OANDA vs NAGA – Which One Offers Better Trading Conditions?
OANDA’s user-friendly platform is perfect for those just starting out, with lower minimum deposits and tighter spreads that won’t break the bank. Meanwhile, NAGA’s innovative social trading feature allows you to learn from the pros, and its wide range of products caters to both beginner and advanced traders. Ultimately, the choice between these two excellent brokers comes down to your individual needs and trading style.
But don’t worry, we’ve got you covered – check out our in-depth reviews of OANDA and NAGA to help you make an informed decision.