NAGA review
NAGA Group AG is a German fintech offering CFDs, forex, crypto and stock trading through a social/copy-trading platform, best known for its Autocopy feature. It has been listed on the Frankfurt Stock Exchange (ticker N4G) since 2017, with Chinese conglomerate Fosun International as a long-standing shareholder. In 2024, NAGA merged with Key Way Group (owner of the CAPEX CFD brand), consolidating into a larger group with roughly 1.5 million users. Regulation is split: the core EU-facing entity, NAGA Markets Europe Ltd, holds a CySEC licence, while a separate entity, NAGA Capital Ltd, operates under the lighter-touch Seychelles FSA. Independent reviews flag recurring withdrawal complaints, which is a material caveat for anyone funding an account.
NAGA key facts
- Website: www.naga.com
- Category: Social/copy-trading CFD broker
- Founded: 2015
- Headquarters: Hamburg, Germany
- Public status: Frankfurt Stock Exchange, ticker N4G
- Regulation: CySEC (Cyprus); Seychelles FSA for a separate offshore entity
- Core feature: NAGA Autocopy social/copy trading
- Scale: ~1.5 million users after the 2024 CAPEX/Key Way merger
- Major shareholder: Fosun International, since 2017
- CEO: Octavian Patrascu
- FYI Score: 86.7/100 (ranked #39 of the 136 CFD brokers we track)
Regulation & corporate structure
- NAGA Markets Europe Ltd, the core EU-facing entity, is regulated by CySEC (Cyprus) with client funds held on a segregated basis.
- A separate entity, NAGA Capital Ltd, acquired in 2022, operates under the Seychelles FSA — a considerably lighter regulatory regime than CySEC.
- NAGA Group AG has traded on the Frankfurt Stock Exchange under ticker N4G since 2017, with Chinese conglomerate Fosun International among its shareholders.
- In 2024, NAGA merged with Key Way Group (owner of the CAPEX CFD brand), combining the two businesses under NAGA's listed structure.
Spreads & fees
- Operates as a market maker: NAGA is the counterparty on CFD positions rather than routing to external liquidity.
- Spreads on major forex pairs such as EUR/USD have been reported around 1.2 pips in independent reviews.
- Full cost detail sits in NAGA's own Cost and Charges Policy, which varies by licensed entity and instrument.
Platforms & copy trading
- A proprietary web and mobile platform built around NAGA Autocopy, which lets users automatically mirror another trader's positions.
- MetaTrader 4 and MetaTrader 5 are also supported for traders who want conventional charting and EA support.
- NAGA Pay, launched in 2021, layers a multi-currency wallet and card on top of the trading account.
Markets & accounts
- Instruments span CFDs on forex, stocks, indices and commodities, plus direct cryptocurrency trading, from a single account.
- Post-merger, the group operates both the original NAGA social-trading product and the CAPEX-branded CFD business.
Markets
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Platforms
NAGA Trading Platform, MetaTrader 4, MetaTrader 5
Who NAGA is for
NAGA suits traders who want a social, copy-trading-led way into CFDs, crypto and stocks, backed by the added transparency of a listed company. The recurring withdrawal complaints in independent reviews mean it's worth reading recent user feedback before committing meaningful funds.
Pros
- Autocopy is a genuine, long-standing differentiator with a track record dating to NAGA's 2015 founding.
- Publicly listed on a major exchange (Frankfurt: N4G), adding a layer of disclosure most CFD brokers don't have.
- Multi-asset in one account: CFDs, crypto and stocks, plus MT4/MT5 support for traders who want it.
- Scaled meaningfully via the 2024 CAPEX/Key Way merger, backed by strategic shareholder Fosun International.
Cons
- Independent reviews cite recurring user reports of blocked or delayed withdrawals — worth investigating before funding an account.
- Regulatory picture is split: CySEC-licensed core business alongside a separate Seychelles FSA entity, a materially lighter regime.
- Market-maker execution model means NAGA is the counterparty to CFD trades, a structural conflict of interest inherent to the model.
- Aggregate independent ratings are middling rather than uniformly strong.
NAGA FAQ
Is NAGA regulated?
NAGA Markets Europe Ltd is regulated by CySEC in Cyprus, with client funds held on a segregated basis. A separate entity, NAGA Capital Ltd, operates under the Seychelles FSA, a considerably lighter regulatory regime than CySEC — worth noting for anyone comparing NAGA to EU/UK-only brokers.
What is NAGA Autocopy?
NAGA's built-in copy-trading feature, which lets users automatically mirror the positions of other traders on the platform. It has been the company's core differentiator since launch.
Is NAGA a public company?
Yes. NAGA Group AG has traded on the Frankfurt Stock Exchange under the ticker N4G since 2017, with Chinese conglomerate Fosun International among its shareholders.
What was the CAPEX/Key Way merger?
In 2024, NAGA merged with Key Way Group, owner of the CAPEX CFD brand, combining the two into a larger group with roughly 1.5 million users under NAGA's listed structure.
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