NAGA Demo Account: Opening & Key Information (2023)

The following article is going to fill you in about everything you need to know about the demo account provided by NAGA.

The NAGA demo account has been tested out by the InvestinGoal expert team to provide a detailed insight on the trading features, time limit, and opening process for your benefit.

Main features of the NAGA Demo Account:

• It’s unlimited
• Free to open
• Easy to open
• $10,000 virtual currency to invest
• Switch to live on the same platform

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NAGA Demo Account Opening Tutorial: Step by step procedure

Here is our step-by-step guide on opening your NAGA demo account.

Step 1: Visit the NAGA website

Visit the official website of NAGA and navigate to the sign-up button in the top right corner to find the demo account registration form.

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Step 2: Fill out the registration form

The next step is to complete the account registration form by selecting your country of residence and a phone number, as well as the additional information required by the broker beyond this step.

Step 3: Login into the demo account

Once the registration process is completed, you can create your demo account by clicking on “Open Demo Account”.

Step 4: Customize the demo account

Here the broker will require you to select the characteristics of your demo account, including the server type, the virtual currency amount  and the account name.

Once you confirm your choices, a demo account with 10,000 USD in virtual currency (or equivalent) will appear in your profile. Select it by clicking on it, and you can start navigating the trading platform.

After having selected MT5, NAGA will send you the specific logins for the platform.

NAGA demo account features

Opening a demo with NAGA is pretty fast. A valid phone number is all you need and the account duration is unlimited. There is a choice of one account type and 950 tradable markets. A $10,000 virtual balance is available to trade and the MT5 and Webtrader proprietary platforms are offered.

Educational materials, including video tutorials to speed up your learning are available. Copy trading is also available with the broker, with NAGA being one of the best choices for copy trading

Differences between live and demo NAGA accounts

NAGA only offers one account type, which is available to try as a demo.

The main difference between a demo and a live account is Slippage. This term refers to the difference between your price’s initial order request and the actual order’s execution price. This happens in live accounts due to the nature of the volatility of prices, but it won’t happen in a demo since it’s filled with virtual money.

The NAGA demo account doesn’t have an expiry time. However, you must verify the account within 14 days from the date you created it, otherwise, it will be closed. There is no inactivity fee for live accounts.

How to switch to a live account

When switching to a live account, the demo account will still be available. To open a live account you will have to provide proof of your identity (Passport, ID, or Driver’s License) and proof of your residence (Bill utility or bank statement) on the broker’s website. Depending on the country, you may get asked to fill out a questionnaire about your trading experience.

As soon as your account gets verified, you will be able to proceed with your NAGA trader minimum deposit in order to start trading. NAGA requires a $50 minimum deposit.

How to best use your NAGA demo account

Here are some useful tips on how to best utilize your NAGA demo account:

• Set up your NAGA demo account as you would set up a real account with the platform, and account currency choice
• Do not open large positions if you are not planning to trade with large amounts of money
• Treat money as if it were real as you were trading with a live trading account
• Practice daily
• Study with the educational tools offered by NAGA. The broker also offers a great copy and social trading service

Pros and cons of the NAGA demo account

Pros:

• Unlimited
• Easy to open

Cons:

• Not very customizable