Comparison of CMC Markets vs Naga broker [ 2024 ]

The best brokers to invest in cryptocurrencies compared by their commissions, cryptos, security and much more. Here is theCMC Markets vs Naga broker comparison!

Your expert: Alejandro Borja

CMC Markets

  • Threenvest valuation: 4,7/5
  • Investor protection: Yes
  • Security: 5/5
  • Available cryptocurrencies: 11 (CFDs)
Go crypto broker

Your expert: Xavier Tarrasó

Naga broker

  • Threenvest valuation: 4,7/5
  • Investor protection: Yes
  • Security: 5/5
  • Available cryptocurrencies: 7 (CFDs)
Go crypto broker

Main points

Fees

Low 4/5

Regulated

FCA, ASIC

Demo account

Yes
Low 3,7/5

Fees

CySEC

Regulated

Yes

Demo account

Recommended for

Beginners

Yes

Trading

Yes

Passive income

No

Buy and hold

No
Yes

Beginners

Yes

Trading

No

Passive income

No

Buy and hold


Comparison of fees

Rating

4.0 – CMC Markets offers competitive pricing and precision with aggregated prices from multiple sources. However, the daily and overnight holding costs can be significant for long-term positions .
3.7 – Naga offers reasonable fees and the added value of social trading features. However, the variety of charges and spreads can be a bit complicated for some users .

Level

Low 4/5
Low 3,7/5

Brief explanation

CMC Markets offers a competitive fee structure for cryptocurrency trading, primarily operating through spreads rather than commission-based fees. The spreads on major cryptocurrencies such as Bitcoin and Ethereum are relatively tight, making it cost-effective for traders to execute their strategies. Additionally, CMC Markets does not charge deposit fees, which is a significant advantage for traders looking to fund their accounts without incurring extra costs. However, users should be aware of potential overnight holding costs for CFD positions, which can add up if trades are held for extended periods. For cryptocurrency CFDs, the primary cost is the spread, which is the difference between the bid and ask prices. This spread is competitive with other major exchanges, particularly for popular cryptocurrencies. CMC Markets also employs a tiered spread system, where spreads can vary depending on market conditions and liquidity. This dynamic pricing model helps ensure that traders receive fair pricing, especially during times of high market volatility. Additionally, the absence of commission fees on crypto trades further enhances the platform’s attractiveness to cost-conscious traders. While there are no hidden fees, it’s important for traders to consider the overall cost of trading, including potential overnight fees for positions held beyond a day. These fees can vary based on the specific cryptocurrency and market conditions. Moreover, CMC Markets provides detailed information on all costs associated with trading on their platform, promoting transparency and helping traders make informed decisions. Overall, CMC Markets’ fee structure is designed to be straightforward and competitive, making it a strong choice for both novice and experienced cryptocurrency traders.
NAGA Broker has a straightforward commission structure, primarily revolving around trading cryptocurrencies through CFDs. The main types of fees users will encounter include spreads, overnight fees, and withdrawal fees. The spreads are competitive, but they can vary depending on the market conditions and the specific cryptocurrency being traded. For instance, NAGA applies a spread on all cryptocurrency trades, which is the difference between the buy and sell price. This spread compensates the broker for its services. Additionally, if a position is held overnight, an overnight financing fee is charged. This fee varies based on the size of the position and the duration it is held. NAGA also charges a withdrawal fee, which starts at EUR 5 but decreases with higher account tiers. There are no deposit fees, making it easier for users to add funds to their accounts via multiple payment methods, including credit/debit cards, bank transfers, and popular e-wallets like Skrill and Neteller .

CMC Markets

Read CMC Markets review
  • Year Founded: CMC Markets was founded in 1989, providing it with a long history and substantial experience in the trading industry. Its longevity is a testament to its reliability and ability to adapt to market changes over the decades.
  • Number of Users: With over 60,000 active clients globally, CMC Markets has built a large and loyal user base. This widespread adoption is a strong indicator of the platform's credibility and the trust it has earned from traders around the world.
  • Security Methods: CMC Markets employs advanced security measures, including encryption and two-factor authentication (2FA), to protect user accounts and funds. This commitment to security helps ensure a safe trading environment for all users.
  • Regulation: CMC Markets is regulated by several top-tier financial authorities, including the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), and the Monetary Authority of Singapore (MAS). This stringent regulatory oversight adds a significant layer of protection and trust for users.
  • Reputation and Reviews: CMC Markets has received positive reviews from both users and industry experts. Its reputation for reliability, advanced trading tools, and excellent customer service further solidifies its standing as a trusted exchange in the crypto market.
  • Pros
  • Wide range of cryptocurrency CFDs.
  • Competitive dynamic crypto spreads.
  • Advanced charting and analysis tools.
  • Cons
  • No real cryptocurrency ownership.
  • High stock CFD fees.

Naga broker

Read nagabroker review
  • Year Founded: Naga Broker was founded in 2015, establishing itself as a credible and experienced player in the crypto trading market. Its longevity in the industry demonstrates stability and reliability.
  • Number of Users: With over 1 million registered users, Naga Broker has a large and active user base. This widespread adoption indicates trust and satisfaction among its users, reflecting the platform’s reputation and effectiveness.
  • Security Methods: Naga Broker employs advanced security measures, including two-factor authentication (2FA), high-level encryption, and secure servers. These robust security protocols ensure the protection of user funds and personal information.
  • Regulation and Licensing: Naga Broker is regulated by reputable financial authorities, ensuring compliance with industry standards and regulations. This regulatory oversight provides an additional layer of trust and security for users.
  • Customer Service: Naga Broker offers comprehensive customer support, including live chat, email support, and an extensive FAQ section. The support team is known for its responsiveness and effectiveness, contributing to a positive user experience.
  • Pros
  • Social trading network enhances engagement.
  • Responsive and reliable customer support.
  • Fast and efficient withdrawal process.
  • Cons
  • Limited selection of cryptocurrencies available.
  • Confusing platform layout for beginners.

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Product selection

Native token

CMC Markets does not have a native token.
Naga has its own native token called NAGA Coin (NGC)​​.

Earns

CMC Markets does not support staking or other crypto earning programs. It provides trading through crypto CFDs and spread betting .
Naga does not have options for earning with cryptocurrencies through staking. It focuses on social trading and crypto CFDs .

NFT marketplace

CMC Markets does not have an NFT marketplace.
Naga does not have an NFT marketplace.

Cripto/debit card

CMC Markets does not offer a card for its clients .
Naga offers a personal NAGA Card that clients can use wherever Visa is accepted .

Company information

Full name

CMC Markets UK Plc​​.
Naga Markets Ltd​​.

Regulation

FCA (UK), BaFin (Germany/EU), IIROC (Canada), ASIC (Australia), FMA (New Zealand), MAS (Singapore), DFSA (Dubai)​​.
CySEC​​.

Year founded

1989​​
2015​​

Founder

Peter Cruddas​​
Benjamin Bilski​​

Payment methods

Transfers

Yes, CMC Markets accepts bank transfers for both deposits and withdrawals .
Information about nagabroker’s acceptance of bank transfers is not explicitly stated in the retrieved documents.

Mastercard

Yes, CMC Markets accepts Mastercard for deposits​​.
Yes, Naga accepts Mastercard for deposits​​.

Wire transfer

Wise is not mentioned as a supported payment method. In some locations, third-party payment providers like Wise are not available .
Wise is not mentioned as a supported payment method .

Card

Yes, CMC Markets accepts credit/debit cards .
Yes, nagabroker accepts credit/debit cards .

Comparative table

CMC Markets Features Naga broker
The minimum trade size at CMC Markets is low, making it accessible for beginners who want to start trading with smaller amounts.
Minimum Trade
NAGA offers a relatively low minimum trade size, allowing beginners to start trading with smaller amounts.
While CMC Markets offers competitive spreads, the stock CFD fees are relatively high compared to other exchanges.
Trading and Transaction Fees
NAGA has competitive spreads but charges higher fees for withdrawals.
With around 19 cryptocurrencies available, the selection is decent but fewer than some competitors that offer a broader range.
Number of Cryptocurrencies
The platform offers trading in 30 cryptocurrencies, including major coins like Bitcoin and Ethereum.
Trading is limited to CFDs, and there are no direct crypto-to-crypto trading pairs available, which might be a limitation for some traders.
Crypto-to-Crypto Trading Pairs
Limited crypto-to-crypto trading pairs available, primarily focusing on major coins.
The CMC Markets website provides transparent and detailed information about its fees, regulatory status, and services, fostering trust among users.
Website Transparency
NAGA provides clear information about its services, fees, and regulatory status, although some details may require deeper navigation to find.
CMC Markets does not offer a card for its clients .
Credit/Debit Card
Naga offers a personal NAGA Card that clients can use wherever Visa is accepted .
CMC Markets does not offer direct crypto storage, as it operates through CFDs, which might not appeal to traders looking for a direct investment in cryptocurrencies.
Storage Offering
No actual crypto ownership; users trade CFDs instead, which means cryptocurrencies are not stored in personal wallets.
The platform does not offer any staking or rewards programs, which can be a disadvantage for traders interested in earning passive income through their holdings.
Staking and Rewards
NAGA does not offer staking or reward programs for cryptocurrency holdings.
CMC Markets provides high-quality mobile and desktop trading platforms with advanced features, ensuring a seamless trading experience across devices.
Mobile App and Desktop
The platform offers a robust mobile app and desktop version, providing flexibility and a seamless trading experience across devices.
Customer service is reliable and available 24/5, but the absence of weekend support can be a drawback for traders needing assistance outside regular hours.
Customer Service
Responsive and reliable customer support with multiple contact methods, though phone support can be inconsistent.
The platform offers fast and varied deposit methods. Withdrawals are generally quick, though some methods may incur fees, which should be considered by users.
Deposit and Withdraw
A variety of deposit methods are available, but withdrawal fees can be high, and processing times can vary.

Key features

Analysis tools

CMC Markets offers the “Next Generation” trading platform with advanced charting tools, technical indicators, and a comprehensive range of research tools. Their MT4 platform also supports algorithmic trading .
Naga Broker offers access to over 20 payment methods and integrates with various platforms to provide extensive trading and analysis tools. Specific tools for crypto analysis are not detailed .

Mobile APP

Yes, CMC Markets offers a highly functional mobile app as part of their “Next Generation” trading platform, providing extensive features for mobile trading .
Information on a specific mobile app for nagabroker is not explicitly stated in the retrieved documents.

Security

CMC Markets is regulated by several financial authorities, including the FCA. They provide negative balance protection for UK and EU clients. The broker is listed on the London Stock Exchange, which enhances transparency and security​​.
Naga Broker is regulated by the FCA and CySEC, ensuring a high level of security. They employ extensive security measures, including multi-level backups, firewalls, and load balancers, to protect client funds and data​​.

Additional features

CMC Markets provides an extensive range of CFDs, including cryptocurrencies. They offer 19 cryptocurrencies for trading, such as Bitcoin, Ethereum, and Litecoin. The platform features advanced research and educational tools, including a comprehensive learning center. CMC Markets also boasts a high fill rate of 99.9%, making it a great choice for active crypto day traders. However, they do not support trading real stocks and have relatively high stock CFD fees .
Naga supports over 20 payment methods for deposits and withdrawals, including cryptocurrencies like Bitcoin and Ethereum. They offer a NAGA Card for convenient fund withdrawals and secure transactions. Naga also provides a user-friendly platform with features like social trading and a variety of educational resources .

Anonymity

CMC Markets requires identity verification during the account opening process, so anonymous accounts are not possible .
Nagabroker does not offer anonymous accounts. Users must complete identity verification with documents like a national ID card or passport .

Key points

Available cryptocurrencies

CMC Markets provides trading in cryptocurrency CFDs. Available cryptocurrencies include Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), TRON (TRX), EOS, Stellar Lumens (XLM), Cardano (ADA), and crypto indices such as the All Crypto Index, Major Crypto Index, and Emerging Crypto Index​​.
Naga provides trading in cryptocurrency CFDs. The supported cryptocurrencies include Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Uniswap (UNI), and Ripple (XRP)​​.

User-friendliness

CMC Markets offers a powerful and versatile trading platform that caters well to crypto traders. The Next Generation platform is particularly noted for its configurability and advanced tools. However, the platform might require some time to master due to its extensive features, which can be overwhelming for beginners. Overall, it provides a comprehensive trading experience with access to multiple crypto assets .
Naga provides a social trading platform that is easy to navigate and use, particularly for those interested in copying the trades of more experienced traders. The platform supports a variety of cryptocurrencies and offers competitive fees. While the extensive range of features might be overwhelming at first, the overall user experience is designed to be straightforward and accessible .

Value for money

CMC Markets offers value through competitive pricing and a wide range of tradable instruments. The fees for holding positions overnight are standard, and the platform’s robust tools justify the costs, though its advanced features may be overwhelming for beginners​​.
Naga offers competitive fees and the added value of social trading features, which can be particularly useful for beginners. Its commission structure is reasonable, though some users might find the variety of charges and spreads a bit complicated​​.

Countries of operation

United Kingdom, Australia, New Zealand, Singapore, United Arab Emirates .
European Union, United Kingdom, Australia, Switzerland, South Africa .

Best for

CMC Markets caters to experienced traders who appreciate a powerful trading platform with extensive configurability and tools. It is best for those who are comfortable with trading crypto CFDs and are looking for a wide range of cryptocurrency indices to trade​​.
Naga is excellent for social traders who want to follow and copy the trades of more experienced investors. It offers a variety of cryptocurrencies and competitive fees, making it suitable for those who prefer social trading and want a multi-asset platform​​.

Account

Trading

CMC Markets offers a wide selection of crypto CFDs, allowing users to trade on price movements without owning the underlying assets. The platform is known for its advanced trading tools and competitive spreads.
Nagabroker supports crypto CFD trading with several popular cryptocurrencies. The platform offers social trading features, allowing users to follow and copy the trades of experienced investors.

Deposit and withdrawal

CMC Markets offers free deposits and withdrawals via bank transfers and credit/debit cards. The process is straightforward, though withdrawal times can be slightly longer compared to deposits.
Nagabroker supports a range of deposit and withdrawal methods, including bank transfers, credit/debit cards, and e-wallets. The platform processes transactions quickly, though some methods may incur fees.

Account opening process

CMC Markets has an easy and efficient account opening process. Users complete an online application, provide personal and financial details, and upload identification documents. The process is fully digital, and accounts are usually approved quickly.
Opening an account with nagabroker is simple and digital. Users complete an online registration form, provide personal and financial information, and submit identity verification documents. Accounts are generally approved within one business day.

KYC required?

CMC Markets requires KYC verification. Personal identification documents and proof of address must be provided during the account registration process.
KYC verification is mandatory at nagabroker. Users need to provide identification documents and proof of address during the account registration process.

Customer Service

CMC Markets has a reliable customer service team available 24/5 via phone, email, and live chat. The support is known for being efficient and knowledgeable, helping users with a wide range of issues.
Nagabroker offers customer support through live chat, phone, and email. The support team is available 24/5 and is known for being responsive and helpful, providing users with timely assistance.

Security

CMC Markets is regulated by several financial authorities, including the FCA. They provide negative balance protection for UK and EU clients. The broker is listed on the London Stock Exchange, which enhances transparency and security​​.
Naga Broker is regulated by the FCA and CySEC, ensuring a high level of security. They employ extensive security measures, including multi-level backups, firewalls, and load balancers, to protect client funds and data​​.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

As an expert at Threenvest, I recommend CMC Markets for crypto traders who value a secure and user-friendly platform. The advanced charting tools and comprehensive research capabilities make it ideal for both beginners and experienced traders. While the selection of cryptocurrencies is decent, the platform’s robust security measures and regulation by top-tier financial authorities provide added peace of mind. However, keep in mind that customer support is not available on weekends, and the range of cryptocurrencies could be expanded for more trading opportunities.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As an expert at Threenvest, I recommend NAGA Broker for traders seeking a user-friendly platform with robust educational resources and strong customer support. NAGA offers a wide range of financial instruments, including around 30 cryptocurrencies, making it an excellent choice for diversifying your trading portfolio. The platform’s social trading feature is particularly beneficial for beginners, allowing you to follow and copy the trades of successful investors. While the high minimum deposit and reliance on CFD trading might not appeal to everyone, NAGA’s comprehensive support and innovative features make it a solid option for those looking to leverage cryptocurrency CFDs in a regulated environment.

Read CMC Markets review

View all comparisons against CMC Markets

Read nagabroker review

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

 

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).


For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

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