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eToro vs NAGA: 2023 Comparison

Franklin Carneiro da Silva| Updated September 18th, 2023

Are you confused about whether to choose eToro vs NAGA as a broker for your investing needs?

In this side-by-side comparison, we analyse eToro vs NAGA to help you understand how these apps compare on some of the most common features and make a better-informed decision about the best broker for you.

Below, you’ll find the pros and cons of each broker, as well as a comparison table that features the different fees charged, the financial instruments supported, the regulation, and more. Keep reading!

eToro vs NAGA: 2023 Comparison 1
Visit eToroAsset 3

74% of retail CFD accounts lose money.

Ideal for
Social trading and commission-free stock trading

eToro is a well-known worldwide fintech startup and the leader in the social trading field (following other people’s trades), with over 30 million users worldwide.

You can also invest in other products through their platform, which is intuitive and simple to use, making it a good choice for beginners. Plus, eToro offers commission-free stock trading (other fees apply).

Opening an account and depositing is easy, and you can even try it out with virtual money (a demo account). On the downside, spreads can be high for some products.

eToro vs NAGA: 2023 Comparison 2
Visit NAGAAsset 3

87.36% of retail CFD accounts lose money.

Ideal for
Social trading only

NAGA is a German fintech created to give you easy access to the investment world. Their motto is simple: “financial inclusion for everyone”.

It offers social trading, a multi-currency account, a demo account, and several ways to deposit and withdraw your money.

On the downside, their ETF offering is not clear (real ETFs are mixed with CFDs on ETFs), and it doesn’t offer commission-free real stock trading.

Pros and Cons

Pros

  • Commission-free stock trading
  • Social Trading and other innovative products
  • Wide variety of financial products
  • Slick, modern, and easy for anyone to use
  • Top tier regulators

Cons

  • Limited disclosed financial information
  • Withdraw and inactivity fees
  • Spread, overnight, inactivity, and currency conversion fees higher than average
  • Only one currency account (USD) - a currency conversion fee is applied if you deposit in a different currency
  • Doesn’t offer bonds, futures, or options

Pros

  • Social trading feature (Automatically copy or follow other people’s trade)
  • Wide range of financial products
  • Multi-currency accounts: USD, EUR, GBP, PLN, UST, and NGC (NAGA coin)
  • No currency conversion fee
  • Modern and user-friendly Web and Mobile interfaces
  • NAGA Mastercard
  • NAGA Group AG is publicly listed company (ISIN: DE000A161NR7)
  • Demo account

Cons

  • No commission-free stock trading
  • The “top-performing traders” may be disguised as “temporarily lucky”
  • Offers primarily CFDs, which are high-risk instruments with no asset ownership
  • Up to $5 in withdrawal fees
  • No clear distinction between real ETFs and CFD ETFs
  • Poor distinction between “NAGA Markets Europe Ltd” And “NAGA Global Ltd”
eToro vs NAGA: 2023 Comparison 3
eToro vs NAGA: 2023 Comparison 4
  •  
  • General Information
  • Founded in
  • Demo Account
  • Account Minimum
  • Interest on unninvested cash (annually)
  • Products
  • Stocks
  • ETFs
  • Bonds
  • Funds
  • Options
  • Futures
  • CFDs
  • Leverage Products
  • Forex
  • Cryptocurrencies
  • Commodities
  • Fees
  • US stocks
  • EU stocks
  • ETFs
  • Cryptocurrencies
  • Custody Fee
  • Inactivity Fee
  • Withdrawal Fee
  • Connectivity Fee
  • Currency Conversion Fee
  • Security
  • Regulators
  • Investor Compensation Scheme(per person, per institution)
  • eToroAsset 3

    74% of retail CFD accounts lose money.

  • General Information
  • Founded in2007
  • Demo Account
  • Account Minimum$50**It varies between countries
  • Interest on unninvested cash (annually)0%
  • Products
  • Stocks
  • ETFs
  • Bonds
  • Funds
  • Options
  • Futures
  • CFDs*On Indices, Currencies, Commodities, and Stocks.
  • Leverage Products
  • Forex
  • Cryptocurrencies
  • Commodities
  • Fees
  • US stocks$0
  • EU stocks$0
  • ETFs$0**Not all ETFs are offered with 0% commissions.
  • Cryptocurrencies1%**Spread on either side of a crypto trade.
  • Custody Fee$0
  • Inactivity Fee$10/month**After 1 year login inactivity.
  • Withdrawal Fee$5**Minimum withdrawal amount is $30.
  • Connectivity Fee$0
  • Currency Conversion FeeStarts from 0.50%
  • Security
  • RegulatorsFCA, CySEC and ASIC.
  • Investor Compensation Scheme(per person, per institution)

    Up to €20,000 for clients under eToro (Europe) Ltd; Up to £85,000 for clients under eToro (UK) Ltd.

  • NAGAAsset 3

    87.36% of retail CFD accounts lose money.

  • General Information
  • Founded in2015
  • Demo Account
  • Account Minimum$250
  • Interest on unninvested cash (annually)0%
  • Products
  • Stocks*Only in Naga Europe.
  • ETFs*Only in Naga Europe.
  • Bonds
  • Funds
  • Options
  • Futures
  • CFDs*On Stocks, Indices, Cryptocurrencies, Commodities, and Futures.
  • Leverage Products
  • Forex
  • Cryptocurrencies
  • Commodities
  • Fees
  • US stocks0.10% of the total traded amount**Min. $6 (only in NAGA Europe).
  • EU stocks0.10% of the total traded amount**Min. €8 (only in NAGA Europe).
  • ETFs0.10% of the total traded amount.
  • CryptocurrenciesNot Applicable**It charges a variable spread on crypto CFDs.
  • Custody Fee€0
  • Inactivity Fee€0
  • Withdrawal Fee$5**On bank transfers ($10 with other methods).
  • Connectivity Fee€0
  • Currency Conversion Fee0%
  • Security
  • RegulatorsCySEC
  • Investor Compensation Scheme(per person, per institution)

    Up to €20,000.

________________

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.

Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Franklin Carneiro da Silva
Co-Founder & Fintech Analyst

Franklin is a CFA Level III Candidate with 3 years of experience in Wealth Management as a Fund Research Analyst and the Host of the "Edge Over Hedge" YouTube Channel.

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