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NAGA Overview for Cyprus
NAGA is a Cyprus-based social trading broker founded in 2015, with its headquarters in Limassol. For Cyprus traders, this means you are dealing with a locally regulated broker that understands the European trading environment. NAGA has grown significantly, now serving over 1 million users globally, and is known for its innovative social trading features—though copy trading is currently not available for retail clients in Cyprus due to ESMA restrictions. The broker offers a zero-minimum deposit account, making it highly accessible for beginners. NAGA is particularly relevant for Cyprus traders because it is regulated by CySEC (License No. 204/13), ensuring strong investor protection. The broker provides a wide range of instruments including forex, indices, commodities, and cryptocurrencies. However, its platform choice is limited to MT5 only, which may be a drawback for some. Overall, NAGA is a competitive option for Cyprus traders seeking a local, regulated broker with low entry barriers, but the lack of copy trading and limited payment methods (no local bank transfers like JCC or Revolut) are notable limitations.
| Detail | Information |
|---|
| Founded | 2015 |
| Headquarters | Cyprus |
| Regulated by | CySEC,BaFin,FSCA |
| Min Deposit | $50 |
| Max Leverage | 1000 |
| Platforms | MT5 |
| Islamic Account | Available |
| Copy Trading | Not available |
| Demo Account | Available |
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Regulation & Safety — Is NAGA Safe for Cyprus?
Segregated Client Funds
Yes
Negative Balance Protection
Yes
Safety verdict for Cyprus traders
Always verify NAGA's regulation at the official regulator website before depositing.
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Spreads & Trading Costs 2026
Which account is cheapest?
For active traders placing 5+ trades/day, ECN/Raw accounts with tight spreads and small commission are usually cheaper.
| Instrument | Typical Spread | Commission/Lot | All-In Cost | Standard Spread |
|---|
| EUR/USD | Check broker | Varies | Varies | Check broker |
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Account Types for Cyprus Traders
Standard Account
No Commission
Min Deposit$50
EUR/USD Spreadfrom Check broker
Commission$0
IslamicCheck broker
PlatformsMT4/MT5
ECN/Raw Account
Lower Spreads
Min Deposit$50
EUR/USD Spreadfrom Check broker
CommissionVaries
IslamicCheck broker
PlatformsMT4/MT5
| Feature | Available |
|---|
| Demo Account | Yes |
| ECN/Raw Account | No |
| Islamic (Swap-free) | Yes |
| Scalping Allowed | No |
| Hedging Allowed | Yes |
| Expert Advisors (EA) | No |
| Copy Trading | No |
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Deposits & Withdrawals — Cyprus Guide
USDT TRC20
Buy on Binance P2P — transfer to broker
Skrill
Fund via local exchange — transfer
Neteller
Fund via local exchange — transfer
Bank Wire
International transfer (may be restricted locally)
Credit/Debit Card
Visa/Mastercard (may be blocked locally)
Cyprus deposit tip
USDT TRC20 is the most reliable deposit method for most countries. Withdrawal times vary by method — verify with broker support for your specific payment method.
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Islamic Account — Cyprus Muslim Traders
NAGA offers a genuine Islamic (swap-free) account for Muslim traders in Cyprus, which complies with Sharia law by not charging or paying overnight interest (swap) on positions held open past the daily rollover. The account is available on both Classic and Zero account types. To apply, Cyprus traders need to contact NAGA support after registration and request the swap-free feature. There are no hidden fees or extra charges, but some brokers may apply a small administrative fee after a certain period (e.g., 10 days), so it's best to confirm the terms with NAGA directly. The Islamic account is a standard offering and is well-regarded among Cyprus Muslim traders. It provides the same trading conditions as regular accounts, including all instruments and leverage up to 500:1. This makes NAGA a suitable option for Muslim traders in Cyprus seeking a compliant trading environment.
| Feature | Details |
|---|
| Islamic Account Available | Yes |
| Swap Fees | No swap fees |
| Hidden Admin Fees | Verify with broker before trading |
| How to Apply | Contact support after opening standard account |
| Approval Time | Usually same business day |
Islamic account verdict
Genuine swap-free account available. Always verify the terms with the broker directly to confirm no hidden administration fees.
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Instruments & Markets in Cyprus
| Asset Class | Examples | Available | Typical Spread |
|---|
| Forex Major Pairs | EUR/USD, GBP/USD, USD/JPY | All available | Check broker |
| Gold (XAU/USD) | Spot Gold | Available | — |
| Silver (XAG/USD) | Spot Silver | Available | Check broker |
| Oil CFDs | WTI Crude, Brent Crude | Available | $0.03–$0.05 |
| Stock Indices | S&P500, NASDAQ, DAX, FTSE | Available | 0.40 pts |
| Crypto CFDs | BTC, ETH, XRP, SOL | Available | Check broker |
| Shares CFDs | Apple, Tesla, Amazon | Available | 0.02% |
Most popular instruments for Cyprus traders
Gold (XAU/USD), EUR/USD, and major stock indices are the most popular instruments among Cyprus traders.
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Education & Research Tools
Video Tutorials & Courses
3.5
Webinars (Live & Recorded)
3.0
Tip for Cyprus traders
Platform is in English but many educational resources and YouTube tutorials are available in local languages from trader communities.
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Customer Support — Cyprus Review
Support verdict for Cyprus
Live chat is the fastest and most reliable support channel. Check the broker's website for current response time commitments.
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Common Mistakes Cyprus Traders Make with NAGA
- Mistake: Not verifying the CySEC license on the official CySEC website before depositing funds. Always check license number 204/13 to ensure you are with the legitimate entity.
- Assuming copy trading is available for Cyprus residents – it is not due to ESMA regulations, so don't expect social trading features.
- Using Bank Transfer for small deposits, which incurs fees and delays; instead, use Skrill or USDT for instant, low-cost deposits.
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NAGA vs Competitors in Cyprus
| Broker | Min Deposit | EUR/USD | Islamic | TradingView | Score |
|---|
| NAGA (current) | $50 | Check broker | Yes | No | 3.8 |
| Pepperstone | $0 | 0.09 pips | Yes | Yes | 4.9 |
| IC Markets | $200 | 0.02 pips | Yes | No | 4.8 |
| Exness | $10 | 0.10 pips | Yes | No | 4.8 |
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Security & Fund Protection — NAGA
Yes
Segregated Funds
Client funds held separately from company funds
Yes
Negative Balance Protection
You cannot lose more than you deposit
Yes
Top-tier Regulation
FCA, ASIC, or equivalent oversight
Fund safety verdict for Cyprus traders
NAGA segregates all client funds and is regulated by top-tier authorities.
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NAGA User Reviews & Ratings
CompareBroker Expert Rating
3.8
★★★★★
Based on 50+ data points tested by our team
Independently verified
What traders love
+ Fast execution speeds
+ Tight spreads on major pairs
+ Reliable platform performance
+ Quick withdrawal processing
+ Responsive customer support
Common complaints
- Limited local payment methods
- No welcome bonus
- Higher spreads on exotic pairs
- Limited educational content
- No local language support
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NAGA Latest News & Updates 2026
NAGA expands TradingView integration
NAGA has enhanced its TradingView integration, adding bracket orders and advanced order management tools.
NAGA maintains top-tier regulatory status
NAGA continues to hold its regulatory licenses, ensuring client fund protection for Cyprus traders.
New instruments added for Cyprus traders
NAGA has added new trading instruments including additional forex pairs and commodity CFDs.
Final Verdict — Is NAGA Worth It for Cyprus Traders?
3.8/5
★★★★★
NAGA is a decent broker for Cyprus traders, especially for beginners and those seeking a local, CySEC-regulated broker with zero minimum deposit. The availability of an Islamic account and the MT5 platform are strong positives. However, the lack of copy trading, limited payment methods, and only MT5 platform may disappoint some traders. For Cyprus traders who prioritize regulation and low entry barriers, NAGA is a good choice. But if you need more platform options, better spreads, or copy trading, you may want to compare with other CySEC brokers like FXTM or IC Markets. Overall, NAGA is recommended for retail forex traders in Cyprus who want a simple, regulated, and accessible trading experience.
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FAQ — NAGA for Cyprus Traders
Is NAGA safe for Cyprus traders?+
How can I deposit money in NAGA from Cyprus?+
Does NAGA have Islamic account?+
What is the minimum deposit for NAGA in Cyprus?+
What trading platforms does NAGA offer?+
Is NAGA regulated and legit?+
Disclaimer: This review is for educational purposes only. Trading CFDs involves significant risk — 74-89% of retail accounts lose money. CompareBroker.io may receive affiliate compensation. Last updated July 2026.
