Brokers  /  NAGA

NAGA

Severe risk
🇨🇾 Cyprus · 2-5 years · since 2022-04-19 · NAGA Markets Europe LTD
CYSEC
Visit site ↗
—/5
★★★★★ ★★★★★
12 reviews ›
1
Licenses ›
5
Withdrawal issues ›
—
Min. deposit ›
—
Max leverage ›
0
Account types ›
85/100
Scam risk ›
5
Clone sites ›
▲ 67% positive▼ 33% negative
Independent ratingshow third parties score this broker
WikiFX6.57/10
Trustpilot—/5
Forex Peace Army—/5
85
Severe risk
Scam Risk Scoremonitored · 2026-07-05
Lower riskHigher risk
  • Authorised by Tier-1 regulator(s): CYSEC
  • Listed as “Fake Broker” in industry watchdog records
  • Identified as a clone / impersonator firm
  • 4 user exposure/complaint reports filed
  • Withdrawal complaints in ~42% of recent reviews
How this score is calculated — view the open algorithm

A transparent weighted score from objective public data — each factor scored 0–100 (higher = riskier), combined by the weights below.

FactorScoreWeight
Regulation & licensing9735%
Company age4515%
Clone / impersonation10012%
Withdrawal & exposure complaints7812%
Offshore registration108%
Transparency (site/info/social)2510%

Based on public regulatory records, industry databases and independent reviews (Trustpilot, Forex Peace Army). Exit Risk reflects recent negative momentum in real reviews. A risk estimate from public data, not a definitive legal judgment; brokers may request a correction.

Company
Legal nameNAGA Markets Europe LTD
Headquarters🇨🇾 Cyprus
Founded2022-04-19
Years operating2-5 years
Employees0
Official websitenagamarkets.com
Trading conditions
Avg execution speed0 ms
Avg slippage0
Swap rating—
Trading cost rating—
Monitored traders0
Monitored orders0
Funding & instruments
Deposit methods—
Withdrawal methods—
Instruments—
Registered address
Agias Zonis 11, Limassol, 3027, Cyprus

Regulation & licenses · 1

RegulatorLicense typeLicense No.RegionStatus
CYSECMarket Making License (MM)204/13CyprusRegulated

Review analysis AI

Across 12 recent Trustpilot reviews, 33% are 1–2 star. The single most common complaint is being unable to withdraw funds (5 reports) — the classic warning sign in forex. We also found 5 clone site(s) impersonating this brand — a frequent vehicle for scams.

0
Period:
What users complain about
What users praise
Where reviewers are from
Germany3
Hong Kong2
United Arab Emirates2
Austria2
Pakistan1
Taiwan1

Real user reviews

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About NAGA

NAGA is a forex and CFD broker based in Cyprus, with records dating to 2022-04-19. It reports oversight from CYSEC.

FXCanary’s verdict is “Severe.” The combination of weak regulation and user complaints means your capital could be at serious risk.

Finally, beware of impersonation: we tracked 5 clone website(s) copying NAGA. Always reach the broker through its verified official domain, never via links in ads or messages.

Overview compiled by FXCanary from regulatory records and public data. full NAGA review