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.
Table of contents
NAGA Trader Minimum deposit
The NAGA minimum deposit is $0. This means that you can deposit any amount you wish. Nevertheless, within Naga there’s a tier system called NAGA Achievement. This is a program where you can get rewarded each time you reach a level: the higher the deposit, the better the benefits will be.
|Base Currencies||USD, EUR, GBP, PLN|
Naga Markets NAGA Achievement Tiers
|NAGA Achievement Tiers||Minimum Net Deposit needed|
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.
If you are still interested in deposit bonus then you should check our brokers bonus article to see what are the best bonuses around.
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
Just like other free forex accounts without deposit requirements which you can find here by reading our top choices for low no minimum deposit brokers, Naga does not require or request any kind of minimum deposit. This provides you with a great deal of flexibility as a trader.
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 2-3 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 9 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.
Naga Trader Minimum Deposit FAQs
What are the Naga Trader deposit methods?
There are several options available for making your deposit with Naga Trader. These include bank wire transfer, credit and debit card deposit, as well as the unique Naga card and eWallets like Skrill, and Neteller. You can also deposit in crypto using the unique Naga coin from the broker themselves.
How long do withdrawals take on Naga Traders?
Naga Trader withdrawal time will depend on the method you choose but typically they may require a period of up to 2 working days to process.
What fees does Naga Trader charge?
When it comes to Naga Trader fees, deposits and withdrawals are always free of charge though you may be charged a fee from your bank depending on the method. If your deposit currency doesn’t match your account base currency you should also look out for any conversion fees.
If you hold positions open overnight you will have to pay the rollover fee and if you don’t trade for a period of 3 months, an inactivity fee could be charged.
About the Author
Always full of different interests, Luca started to get interested in the field of personal finance in 2014.
His self-taught studies led him year by year to become increasingly interested in the investment field.
To date, Luca actively invests in the stock market and cryptocurrencies, focusing on rising markets and the industries of the future.
His main role at InvestinGoal.com is to analyze and study in the smallest detail the brokers and their platforms, while checking carefully that the information shown by them is genuine.
In this way, he provides readers with a complete and truthful overview of the broker they might be interested in.