Comparison of Robinhood vs Naga broker [ 2024 ]

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

Your expert: Alejandro Borja

Robinhood

Your expert: Xavier Tarrasó

Naga broker

Main points

Fees

Low 4,7/5

Regulated

SEC, FINRA

Demo account

Low 3,7/5

Fees

CySEC

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

4.1 – Robinhood offers commission-free trading, which is excellent for beginners. However, the inability to transfer cryptocurrencies off the platform and limited cryptocurrency options can be limiting .

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 4,7/5

Low 3,7/5

Brief explanation

Robinhood Crypto does not charge any commission fees for trading cryptocurrencies on its platform. Users can buy and sell 15 different cryptocurrencies without incurring additional costs, making it an attractive option for those looking to trade without worrying about hidden fees. However, while Robinhood does not impose direct trading fees, it passes on network fees from crypto miners and validators to users when processing blockchain transactions. Additionally, Robinhood makes money through payment for order flow (PFOF), which involves selling user order information to market makers and may not always result in the best execution prices for trades. In summary, Robinhood Crypto offers commission-free trading, but users should be aware of network fees and the potential implications of PFOF on trade execution prices .

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 .

Robinhood

Year founded: Robinhood was founded in 2013, which provides a decade-long track record in the financial services industry.
Number of users: The platform boasts over 22 million users, reflecting its popularity and trust among investors.
Security methods: Robinhood employs industry-standard security measures, including two-factor authentication (2FA) and encryption, to protect user data and funds.
Regulation: Robinhood is regulated by top-tier authorities such as the SEC and FINRA, ensuring compliance with stringent financial regulations.
Reputation and Reviews: The platform has received generally positive reviews for its ease of use and innovative commission-free trading model, though it has faced some criticism regarding customer service.

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.

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Product selection

Native token

Robinhood does not have a native token.

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

Earns

Robinhood does not offer staking or other earning options for cryptocurrencies. The platform is geared towards trading a select few cryptocurrencies .

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

NFT marketplace

Robinhood does not have an NFT marketplace.

Naga does not have an NFT marketplace.

Cripto/debit card

Robinhood provides a debit card that can be used anywhere Mastercard is accepted .

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

Payment methods

Transfers

Yes, Robinhood 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

No, Robinhood does not accept Mastercard for deposits.

Yes, Naga accepts Mastercard for deposits.

Wire transfer

Wise is not mentioned as a supported payment method .

Card

No, Robinhood does not accept credit/debit cards for deposits, but it offers a debit card for use .

Yes, nagabroker accepts credit/debit cards .

Comparative table

Robinhood	Features	Naga broker
Robinhood Crypto allows users to start trading with as little as $1, making it highly accessible to beginners and those with limited capital.	Minimum Trade	NAGA offers a relatively low minimum trade size, allowing beginners to start trading with smaller amounts.
The platform is known for its commission-free trading, which means users can trade cryptocurrencies without incurring additional costs, making it very cost-effective.	Trading and Transaction Fees	NAGA has competitive spreads but charges higher fees for withdrawals.
While the platform supports 15 cryptocurrencies, this number is relatively low compared to other exchanges that offer a broader range of digital assets.	Number of Cryptocurrencies	The platform offers trading in 30 cryptocurrencies, including major coins like Bitcoin and Ethereum.
Robinhood does not support direct trading between different cryptocurrencies, limiting trading flexibility.	Crypto-to-Crypto Trading Pairs	Limited crypto-to-crypto trading pairs available, primarily focusing on major coins.
The website is user-friendly and provides clear information, but it could benefit from more detailed explanations on certain services and policies.	Website Transparency	NAGA provides clear information about its services, fees, and regulatory status, although some details may require deeper navigation to find.
Robinhood provides a debit card that can be used anywhere Mastercard is accepted .	Credit/Debit Card	Naga offers a personal NAGA Card that clients can use wherever Visa is accepted .
Robinhood does not support external wallets, meaning users cannot transfer their cryptocurrencies off the platform, which is a significant limitation for those seeking more control over their assets.	Storage Offering	No actual crypto ownership; users trade CFDs instead, which means cryptocurrencies are not stored in personal wallets.
The platform does not offer staking or rewards programs, which are features available on many other cryptocurrency exchanges.	Staking and Rewards	NAGA does not offer staking or reward programs for cryptocurrency holdings.
Robinhood provides an excellent mobile and desktop trading experience, known for its seamless integration and user-friendly design.	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 has been a point of criticism, with reports of slow response times and limited support options, which can be frustrating for users needing immediate assistance.	Customer Service	Responsive and reliable customer support with multiple contact methods, though phone support can be inconsistent.
Deposits and withdrawals are straightforward, but the lack of support for transferring cryptocurrencies to external wallets remains a drawback.	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

Robinhood offers advanced charting and screener tools, with in-depth charting, dozens of technical indicators, and market data from multiple sources. However, their crypto trading is separated into a different app, Webull Pay, which continues the same features .

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, Robinhood has a highly rated mobile app that allows users to trade cryptocurrencies along with other assets .

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

Security

Robinhood is regulated by the SEC and FINRA, providing a high level of investor protection. They offer SIPC insurance for securities up to $500,000, including a $250,000 cash limit. However, they do not provide negative balance protection.

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

Robinhood provides commission-free trading on a selection of cryptocurrencies like Bitcoin, Ethereum, and Dogecoin through their mobile app. They offer a user-friendly platform with features such as instant deposits, real-time data, and access to margin accounts with Robinhood Gold. However, their crypto services are limited compared to specialized crypto exchanges .

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

Robinhood does not offer anonymous accounts. Users must provide personal details and complete verification steps .

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

Key points

Available cryptocurrencies

Robinhood supports trading in a limited number of cryptocurrencies. The available cryptocurrencies are Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin SV (BSV), Dogecoin (DOGE), Ethereum (ETH), Ethereum Classic (ETC), and Litecoin (LTC).

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

User-friendliness

Robinhood offers a sleek and user-friendly mobile app that makes it easy for users to trade cryptocurrencies alongside other assets. The platform’s simplicity and commission-free trading are major advantages, though it lacks some advanced features and educational tools. Additionally, Robinhood does not allow users to withdraw their crypto holdings to external wallets, which could be a limitation for some traders .

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

Robinhood is renowned for its commission-free trading, providing excellent value for money, especially for beginners. However, its limited cryptocurrency offerings and inability to transfer crypto out of the platform may limit its appeal for more advanced users.

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 States (in most states) .

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

Best for

Robinhood is perfect for beginners and younger investors who want an easy-to-use, commission-free platform to trade a limited range of cryptocurrencies. Its integration with stock and ETF trading makes it convenient for those looking to diversify their investments.

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

Robinhood allows direct cryptocurrency trading with zero commissions, making it an attractive option for retail investors. However, it offers a limited range of cryptocurrencies compared to other platforms.

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

Robinhood allows deposits and withdrawals via bank transfers. The process is straightforward and free of charge, but the limited options can be a drawback for some users.

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

Robinhood offers an easy and quick account opening process. Users complete an online application, provide personal information, and verify their identity. The process is fully digital and accounts are typically approved within a day.

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?

Yes, KYC is required at Robinhood. Users must submit personal identification documents and proof of address to verify their accounts.

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

Customer Service

Robinhood offers customer support primarily through email and in-app messaging. They have recently introduced phone support, but response times can vary. The support team is helpful, though some users report delays in getting issues resolved.

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

Which of these exchanges is for you?

Alejandro Borja

As an expert on our website, I recommend Robinhood Crypto for its ease of use and commission-free trading. It’s an excellent choice for beginners who want to start trading cryptocurrencies with minimal initial investment. However, be mindful of its limitations, such as the lack of support for external wallets and limited customer service. Overall, it’s a solid platform for those new to crypto trading, offering a straightforward and accessible entry into the market.

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.

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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 Robinhood vs Naga broker [ 2024 ]

Robinhood

Naga broker

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

Robinhood

Naga broker

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 Robinhood and Naga broker