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Interactive Brokers (IBKR) vs NAGA: 2023 Comparison

Franklin Carneiro da Silva| Updated: February 27, 2023

Are you confused about whether to choose Interactive Brokers (IBKR) vs NAGA as a broker for your investing needs?

In this side-by-side comparison, we analyse Interactive Brokers (IBKR) 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!

Interactive Brokers (IBKR) vs NAGA: 2023 Comparison 1
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.

Ideal for
Every investor (best overall)

Interactive Brokers is a global online broker and publicly listed company which surpassed major financial crises, showing resilience and a rigorous risk management process.

It offers an advanced investment platform that includes a wide range of products (stocks, options, mutual funds, ETFs, futures, bonds, and currencies) from 150 markets.

Beginners and intermediate investors have educational tools to explore, but the learning curve will be steep. Interactive Brokers also launched IBKR GlobalTrader, a modern mobile trading app to trade Stocks, Options and ETFs.

Pros and Cons

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”

Pros

  • Low commissions on US stock trading (for EUR based accounts)
  • No monthly inactivity fee
  • The broadest product and markets range in the brokerage industry
  • Demo account
  • Excellent reputation (founded in 1978)
  • Extensive research and Education tools
  • Has a modern mobile trading app to trade Stocks, Options and ETFs, ideal for novice investors, IBKR GlobalTrader.

Cons

  • Complicated and lengthy account opening process (but fully online)
  • Steeper learning curve for beginners
  • Website is difficult to navigate
  • Interactive Advisors (Robo-advisor feature) is only available for US customers
Interactive Brokers (IBKR) vs NAGA: 2023 Comparison 3
Interactive Brokers (IBKR) 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)
  • 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.

  • Interactive BrokersAsset 3
  • General Information
  • Founded in1978
  • Demo Account
  • Account Minimum€/$/£0
  • Interest on unninvested cash (annually)EUR: 2.63%; USD: 4.58%; GBP: 3.90%
  • Products
  • Stocks
  • ETFs
  • Bonds
  • Funds
  • Options
  • Futures
  • CFDs*On Stocks, Indices, Metals, and Forex.
  • Leverage Products
  • Forex
  • Cryptocurrencies
  • Commodities
  • Fees
  • US stocksTiered plan: $0.0035 per share**Min. $0.35; Max. 1% of trade value.
  • EU stocksTiered plan: 0.05% of trade value**Min. €1.25; Max. €29.
  • ETFsTiered plan: 0.05% of trade value**Min. €1.25; Max. €99.
  • CryptocurrenciesUp to 0.18% of the trade value**Only in the US.
  • Custody Fee€/$/£0
  • Inactivity Fee€/$/£0
  • Withdrawal Fee€/$/£0**One free withdrawal per month
  • Connectivity Fee€/$/£0
  • Currency Conversion Fee0.0020%
  • Security
  • RegulatorsFINRA, SIPC, SEC, CFTC, IIROC, FCA, CBI, AFSL, SFC, SEBI, MAS and MNB.
  • Investor Compensation Scheme(per person, per institution)

    Up to £85,000 for clients under IB U.K. Limited; Up to €20,000 for clients under IB Ireland Limited.

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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