Are you confused about whether to choose NAGA vs Trade Republic as a broker for your investing needs?
In this side-by-side comparison, we analyse NAGA vs Trade Republic 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!
NAGA vs Trade Republic: In a Nutshell
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.
Creating saving plans with stocks/ETFs
Trade Republic is a discount broker based in Berlin, Germany. It focuses on four types of financial assets: stocks, ETFs, cryptocurrencies, and derivatives.
It uses the motto “From the people, for the people” to express its commitment to its customer by selling itself as a “no order fee” platform.
Nonetheless, a €1 external fee is applied in every single trade (Except saving plans), meaning that in practice, you will charge at least €2 (€1 for buying and another €1 for selling).
Pros and Cons
NAGA
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”
Trade Republic
Pros
- Automatic saving plans
- Invest from only €1
- No minimum deposit
- Direct debit in the share-saving plans
- Supervised and regulated by a top-tier regulator
- Interest paid in idle cash balances
Cons
- €1 flat external fee in every single trade (Except saving plans)
- No demo account
- Only one base currency (EUR)
- No access to US Stock Exchanges
- Currency conversion fees apply
NAGA vs Trade Republic: Side-by-side Comparison
- 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)
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.
