Are you confused about whether to choose Saxo Bank vs NAGA as a broker for your investing needs?
In this side-by-side comparison, we analyse Saxo Bank 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!
Saxo Bank vs NAGA: In a Nutshell
Advanced traders with a focus on reliability and security
Saxo Bank is a renowned online trading and investment bank that offers a wide range of financial services to individual and institutional clients.
Saxo Bank offers a range of trading platforms, including SaxoTraderGO and SaxoTraderPRO, providing clients with user-friendly and advanced options to access global markets.
Security is a paramount concern for Saxo Bank, which is evident through its strong regulatory oversight, encryption protocols, and segregated accounts.
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
Saxo Bank
Pros
- Excellent research materials
- Outstanding trading platforms (SaxoTraderPRO and SaxoTraderGO)
- Extensive range of investment products
- Long track record
- Supervised by worldwide top-tier regulators
Cons
- High minimum deposit ($2,000)
- Fees higher than average
- Fee structure is complex
- Does not accept US residents
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”
Saxo Bank vs NAGA: 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.
