One of the most important factors when engaging with a new forex broker is how you can deposit funds, and also how much you have to deposit.
If you are using Naga Trader, you can already see a lot of this information through our Naga Trader review.
Here though we will take a more in-depth look at the specifics around the Naga Trader minimum deposit and funding options.
NAGA Base Currency
First of all, looking at the base currencies, or those which are available to execute trades in with Naga Trader, you will find both fiat currencies, and cryptocurrencies are available to use.
There are a total of 4 fiat currencies that you can choose from. These are USD, EUR, GBP, and PLN.
If these currencies do not suit your needs for any reason then Naga cryptocurrency deposits are available in the form of NGC (Naga Coin), Bitcoin, Ethereum, and BNB.
NAGA Trader Funding and Deposit Methods
Naturally, Naga makes a variety of payment methods available to you if you are wishing to make a deposit. Here are some of the available methods and the specifics related to them:
Naga deposit by wire transfer is available to everyone within the trader base of the company. This method features no minimum deposit requirement from the broker and typically takes between 4-7 business days in order to fully process and be available for trading.
Credit and debit card deposits are available through Naga. These can be accessed using Visa, Mastercard, or Maestro which accommodates many traders worldwide.
If these methods do not fit your requirements then you can also apply for the Naga card which they will deliver to you on request. This card is prepaid by you and connected to your account. Using the card, you can deposit in USD, EUR, and GBP from around the world.
Deposits made with any of these account types are instant, and there is no minimum deposit in place for this method.
eWallets are a hugely popular deposit method throughout the industry, with most top forex brokers facilitating some method. At Naga, Neteller and Skrill are both available. These convenient methods are both instant in nature and again, no minimum deposit is applied when depositing in this way.
When you first sign up with Naga, you will receive your own crypto wallet address. This address can be used to fund your Naga account with any of the 8 accepted cryptocurrencies. These currencies include the companies own native coin, Naga Coin as well as other major cryptocurrencies such as Bitcoin, Bitcoin Cash, Binance Coin, Dash, Ethereum, Litecoin, and Ripple.
The other method of deposit which Naga makes available is Giropay. Like every other funding method, this is again instant and no minimum deposit applies.
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NAGA Trader Minimum deposit
As per other free forex accont without deposit, Naga does not require or request any kind of minimum deposit. This provides you with a great deal of flexibility as a trader.
The broker does suggest though that you make a minimum deposit of $200 so that you can fully experience the platform in the best possible way.
Naga bonus as with every other forex broker operating in Europe, is restricted by the likes of MiFID regulations.
Anyway, the broker does not offer traders any kind of bonus, but they also do not require any minimum deposit.