Comparison of Naga broker vs AvaTrade [ 2024 ]

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

Your expert: Alejandro Borja

Naga broker

Your expert: Xavier Tarrasó

AvaTrade

Main points

Fees

Low 3,7/5

Regulated

CySEC

Demo account

Yes

Average 3,4/5

Fees

ASIC

Regulated

Yes

Demo account

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Passive income

Buy and hold

Comparison of fees

Rating

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 .

4.2 – AvaTrade stands out with no deposit or withdrawal fees and competitive spreads, making it a good option for frequent traders. The only drawback is the inactivity fee .

Level

Low 3,7/5

Average 3,4/5

Brief explanation

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 .

AvaTrade operates with a clear and competitive commission structure, making it an attractive choice for traders looking for cost efficiency. There are no fees for deposits or withdrawals, which is a significant advantage compared to many other platforms. Deposits can be made via credit and debit cards, wire transfers, and e-wallets like Skrill and Neteller, while withdrawals are processed within 1-5 business days, depending on the method used . AvaTrade charges spreads on cryptocurrency trades, with typical spreads being competitive. For example, the spread for Bitcoin against the US dollar (BTC/USD) is around 0.35%, and for Ethereum against the US dollar (ETH/USD), it’s about 0.60%. These spreads are within the industry standard, offering traders cost-effective trading opportunities . However, there are some non-trading fees to be aware of. AvaTrade imposes an inactivity fee of $50 per quarter after three months of inactivity and a $100 administrative fee after 12 months of inactivity. Additionally, overnight financing fees apply to positions held overnight, with rates varying depending on the asset . Despite these non-trading fees, AvaTrade’s overall fee structure is transparent and competitive, making it a favorable platform for active traders looking to minimize their costs.

Naga broker

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.

AvaTrade

Regulated by Multiple Authorities: AvaTrade is regulated by several top-tier financial authorities, including the Central Bank of Ireland, ASIC in Australia, the Financial Sector Conduct Authority in South Africa, and the Financial Futures Association of Japan. This extensive regulatory oversight ensures a high level of security and compliance with international standards .
Established Track Record: Founded in 2006, AvaTrade has a long-standing presence in the financial industry. This longevity demonstrates the platform's resilience and reliability through various market cycles and financial crises .
Robust Security Measures: AvaTrade employs advanced security protocols to protect client funds and personal information. These measures include negative balance protection and the segregation of client funds from the company’s operational funds, ensuring that your investments are safeguarded against unforeseen events .
Comprehensive Customer Support: AvaTrade offers excellent customer service, available 24/5 via live chat, phone, and email. The support team is multilingual, responsive, and well-equipped to handle a wide range of trading-related queries, ensuring that users can get the help they need promptly .
Transparent Operations: AvaTrade maintains transparency in its operations, providing clear information about its fees, regulatory status, and security measures. This transparency builds trust and allows traders to make informed decisions about their investments

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Account Minimum

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Direct link to the website

Product selection

Native token

Naga has its own native token called NAGA Coin (NGC).

AvaTrade does not have a native token.

Earns

Naga does not have options for earning with cryptocurrencies through staking. It focuses on social trading and crypto CFDs .

AvaTrade does not provide earning options like staking for cryptocurrencies. The platform focuses on CFD trading .

NFT marketplace

Naga does not have an NFT marketplace.

AvaTrade does not have an NFT marketplace.

Cripto/debit card

Naga offers a personal NAGA Card that clients can use wherever Visa is accepted .

AvaTrade does not provide a card for its clients .

Payment methods

Transfers

Information about nagabroker’s acceptance of bank transfers is not explicitly stated in the retrieved documents.

Yes, AvaTrade accepts bank transfers for both deposits and withdrawals .

Mastercard

Yes, Naga accepts Mastercard for deposits.

Yes, AvaTrade accepts Mastercard for deposits.

Wire transfer

Wise is not mentioned as a supported payment method .

Card

Yes, nagabroker accepts credit/debit cards .

Yes, AvaTrade accepts credit/debit cards .

Comparative table

Naga broker	Features	AvaTrade
NAGA offers a relatively low minimum trade size, allowing beginners to start trading with smaller amounts.	Minimum Trade	Minimum trade size is accessible, starting from 0.01 lots, making it suitable for beginners.
NAGA has competitive spreads but charges higher fees for withdrawals.	Trading and Transaction Fees	Competitive spreads, but inactivity and overnight fees can add up .
The platform offers trading in 30 cryptocurrencies, including major coins like Bitcoin and Ethereum.	Number of Cryptocurrencies	Limited selection of 13 cryptocurrencies, including major ones like Bitcoin and Ethereum .
Limited crypto-to-crypto trading pairs available, primarily focusing on major coins.	Crypto-to-Crypto Trading Pairs	Offers crypto-to-crypto trading pairs, but the range is limited compared to specialized crypto exchanges .
NAGA provides clear information about its services, fees, and regulatory status, although some details may require deeper navigation to find.	Website Transparency	The website is clear and informative, with comprehensive details about fees, trading conditions, and regulations .
Naga offers a personal NAGA Card that clients can use wherever Visa is accepted .	Credit/Debit Card	AvaTrade does not provide a card for its clients .
No actual crypto ownership; users trade CFDs instead, which means cryptocurrencies are not stored in personal wallets.	Storage Offering	Does not offer crypto wallets as it only deals in crypto CFDs .
NAGA does not offer staking or reward programs for cryptocurrency holdings.	Staking and Rewards	No staking or rewards programs available, which could be a drawback for some users .
The platform offers a robust mobile app and desktop version, providing flexibility and a seamless trading experience across devices.	Mobile App and Desktop	AvaTradeGO mobile app and desktop platforms like MetaTrader 4/5 provide robust trading features and user-friendly interfaces .
Responsive and reliable customer support with multiple contact methods, though phone support can be inconsistent.	Customer Service	Multilingual customer support available 24/5 via live chat, phone, and email, but not 24/7 .
A variety of deposit methods are available, but withdrawal fees can be high, and processing times can vary.	Deposit and Withdraw	Free deposits and withdrawals with various methods, though withdrawal processing can take up to five days

Key features

Analysis tools

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 .

AvaTrade offers the Guardian Angel risk management tool for MetaTrader 4 and 5, which provides real-time feedback on trading actions. AvaTrade also provides access to a wide range of technical indicators and charting tools within their trading platforms .

Mobile APP

Information on a specific mobile app for nagabroker is not explicitly stated in the retrieved documents.

Yes, AvaTrade offers the AvaTradeGo mobile app, which is reliable and provides access to all trading tools and account management features .

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.

AvaTrade is regulated by multiple authorities, including the Central Bank of Ireland and the Australian Securities and Investments Commission (ASIC). They provide negative balance protection for retail clients, ensuring investors cannot lose more than their account balance.

Additional features

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 .

AvaTrade is known for its extensive range of CFDs, including cryptocurrencies such as Bitcoin, Ethereum, Ripple, and more. They offer leverage up to 1:2 for EU clients and up to 1:25 for non-EU clients. AvaTrade also features the Guardian Angel tool for risk management, which gives instant feedback and advice tailored to each trader’s actions. Furthermore, they provide competitive spreads and have a variety of trading platforms, including MetaTrader 4 and 5 .

Anonymity

Nagabroker does not offer anonymous accounts. Users must complete identity verification with documents like a national ID card or passport .

Anonymous accounts are not available on AvaTrade. The registration process includes filling out personal information, financial details, and providing proof of identity and residence .

Key points

Available cryptocurrencies

Naga provides trading in cryptocurrency CFDs. The supported cryptocurrencies include Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Uniswap (UNI), and Ripple (XRP).

AvaTrade provides trading in cryptocurrency CFDs. The supported cryptocurrencies are Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin Gold (BTG), Ethereum (ETH), EOS, NEO, Dash, Chainlink (LINK), Uniswap (UNI), Litecoin (LTC), Stellar (XLM), IOTA (MIOTA), and Ripple (XRP). Additionally, it offers a Crypto10 index.

User-friendliness

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 .

AvaTrade simplifies the crypto trading experience with a quick and fully digital account setup process. Users can start trading within minutes, which is significantly faster compared to traditional crypto exchanges. The platform supports multiple payment methods for deposits and withdrawals, making it convenient for global users. AvaTrade’s intuitive interface and support for various cryptocurrencies make it an excellent choice for beginners .

Value for money

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.

AvaTrade provides a robust value for money with no deposit or withdrawal fees, though it charges an inactivity fee of $50 after three months of inactivity. The spreads on major cryptos are competitive, making it a good option for active traders.

Countries of operation

European Union, United Kingdom, Australia, Switzerland, South Africa .

Ireland, Japan, Australia, South Africa, United Arab Emirates, Israel .

Best for

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.

AvaTrade is great for traders who are interested in speculating on the price movements of major cryptocurrencies using CFDs. It’s particularly suitable for those who want to utilize leverage and trade within a highly regulated framework, although the limited number of available cryptocurrencies might be a drawback for some.

Account

Trading

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.

AvaTrade supports crypto CFD trading with a range of popular cryptocurrencies. The platform is well-regulated and offers leverage, providing a secure environment for trading cryptos.

Deposit and withdrawal

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.

AvaTrade supports a variety of deposit and withdrawal methods, including bank transfers, credit/debit cards, and e-wallets. The process is generally smooth, but withdrawal times can vary based on the method used.

Account opening process

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.

Opening an account with AvaTrade is simple and fast. Users must complete an online registration form, provide personal information, and upload verification documents. The process is fully digital, and accounts are usually approved within a day.

KYC required?

KYC verification is mandatory at nagabroker. Users need to provide identification documents and proof of address during the account registration process.

AvaTrade requires KYC verification. Users need to submit identification documents and proof of address before they can start trading.

Customer Service

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.

AvaTrade provides strong customer support through multiple channels including live chat, email, and phone. Their support is available 24/5 and is generally responsive, though some users report occasional delays in getting complex issues resolved.

Security

Which of these exchanges is for you?

Alejandro Borja

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.

Xavier Tarrasó

As a cryptocurrency enthusiast and expert at Threenvest, I highly recommend AvaTrade for its robust regulatory framework and user-friendly trading platforms. AvaTrade’s diverse range of trading instruments and excellent customer support make it a reliable choice for both new and experienced traders. While the selection of cryptocurrencies could be broader, and the inactivity fees lower, the overall security and ease of use make AvaTrade a strong contender in the world of crypto trading.

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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.

Comparison of Naga broker vs AvaTrade [ 2024 ]

Naga broker

AvaTrade

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

Naga broker

AvaTrade

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Company information

Full name

Regulation

Year founded

Founder

Payment methods

Transfers

Mastercard

Wire transfer

Card

Comparative table

Key features

Analysis tools

Mobile APP

Security

Additional features

Anonymity

Key points

Available cryptocurrencies

User-friendliness

Value for money

Countries of operation

Best for

Account

Trading

Deposit and withdrawal

Account opening process

KYC required?

Customer Service

Security

Which of these exchanges is for you?

How do we review crypto exchanges?

Risk Disclaimer

More comparatives Naga broker and AvaTrade