Comparison of Interactive Brokers vs Naga broker [ 2024 ]

The best brokers to invest in cryptocurrencies compared by their commissions, cryptos, security and much more. Here is theInteractive Brokers vs Naga broker comparison!

Your expert: Alejandro Borja

Interactive Brokers

Your expert: Xavier Tarrasó

Naga broker

Main points

Fees

Low 4,4/5

Regulated

SEC, FCA

Demo account

Yes

Low 3,7/5

Fees

CySEC

Regulated

Yes

Demo account

Recommended for

Beginners

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Passive income

Buy and hold

Comparison of fees

Rating

4.6 – Interactive Brokers charges low commissions (0.12% to 0.18% of trade value) with no added spreads or custody fees, making it one of the most cost-effective options for serious traders .

3.7 – Naga offers reasonable fees and the added value of social trading features. However, the variety of charges and spreads can be a bit complicated for some users .

Level

Low 4,4/5

Low 3,7/5

Brief explanation

Interactive Brokers offers a competitive and transparent commission structure for cryptocurrency trading. The commission rates range from 0.12% to 0.18% of the trade value, with a minimum fee of $1.75 per order, capped at 1% of the trade value. This fee structure is notably lower than many competitors, who may charge up to 2.00% or include additional spreads and markups. Trading cryptocurrencies on Interactive Brokers’ platform does not incur any added spreads, markups, or custody fees. This is facilitated through their partnerships with Paxos Trust Company and Zero Hash LLC, both of which are regulated entities, ensuring a secure trading environment. Furthermore, clients can trade cryptocurrencies 24/7 when funds are transferred to their dedicated Paxos or Zero Hash account during normal US banking hours.

NAGA Broker has a straightforward commission structure, primarily revolving around trading cryptocurrencies through CFDs. The main types of fees users will encounter include spreads, overnight fees, and withdrawal fees. The spreads are competitive, but they can vary depending on the market conditions and the specific cryptocurrency being traded. For instance, NAGA applies a spread on all cryptocurrency trades, which is the difference between the buy and sell price. This spread compensates the broker for its services. Additionally, if a position is held overnight, an overnight financing fee is charged. This fee varies based on the size of the position and the duration it is held. NAGA also charges a withdrawal fee, which starts at EUR 5 but decreases with higher account tiers. There are no deposit fees, making it easier for users to add funds to their accounts via multiple payment methods, including credit/debit cards, bank transfers, and popular e-wallets like Skrill and Neteller .

Interactive Brokers

Year Founded: Established in 1978, Interactive Brokers has a long history of providing reliable and innovative trading solutions.
Security Methods: The platform uses top-tier security measures, including two-factor authentication and encryption, ensuring the safety of client assets and data.
Number of Users: Interactive Brokers boasts a large user base, serving over 1.6 million clients globally, which speaks to its reliability and popularity.
Regulation: The firm is regulated by major financial authorities, including the SEC, FINRA, and several international regulators, ensuring compliance with stringent financial laws.
Trading Volume and Liquidity: Interactive Brokers handles a high volume of trades daily, providing deep liquidity, which is crucial for effective trading execution and minimal slippage.

Naga broker

Year Founded: Naga Broker was founded in 2015, establishing itself as a credible and experienced player in the crypto trading market. Its longevity in the industry demonstrates stability and reliability.
Number of Users: With over 1 million registered users, Naga Broker has a large and active user base. This widespread adoption indicates trust and satisfaction among its users, reflecting the platform’s reputation and effectiveness.
Security Methods: Naga Broker employs advanced security measures, including two-factor authentication (2FA), high-level encryption, and secure servers. These robust security protocols ensure the protection of user funds and personal information.
Regulation and Licensing: Naga Broker is regulated by reputable financial authorities, ensuring compliance with industry standards and regulations. This regulatory oversight provides an additional layer of trust and security for users.
Customer Service: Naga Broker offers comprehensive customer support, including live chat, email support, and an extensive FAQ section. The support team is known for its responsiveness and effectiveness, contributing to a positive user experience.

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Product selection

Native token

Interactive Brokers does not have a native token.

Naga has its own native token called NAGA Coin (NGC).

Earns

Interactive Brokers does not offer staking or similar earning options for cryptocurrencies. The platform allows trading and holding of cryptocurrencies .

Naga does not have options for earning with cryptocurrencies through staking. It focuses on social trading and crypto CFDs .

NFT marketplace

Interactive Brokers does not have an NFT marketplace.

Naga does not have an NFT marketplace.

Cripto/debit card

Interactive Brokers offers an IBKR debit card for US residents as part of their Integrated Investment Management accounts .

Naga offers a personal NAGA Card that clients can use wherever Visa is accepted .

Payment methods

Transfers

Yes, Interactive Brokers accepts bank transfers for both deposits and withdrawals .

Information about nagabroker’s acceptance of bank transfers is not explicitly stated in the retrieved documents.

Mastercard

No, Interactive Brokers does not accept Mastercard for deposits.

Yes, Naga accepts Mastercard for deposits.

Wire transfer

Wise is not mentioned as a supported payment method .

Card

No, Interactive Brokers does not accept credit/debit cards .

Yes, nagabroker accepts credit/debit cards .

Comparative table

Interactive Brokers	Features	Naga broker
Interactive Brokers offers a low minimum trade amount, making it accessible for both small and large investors. This encourages new traders to start without significant capital.	Minimum Trade	NAGA offers a relatively low minimum trade size, allowing beginners to start trading with smaller amounts.
The platform’s fees are among the lowest in the industry, which is a major advantage for frequent traders.	Trading and Transaction Fees	NAGA has competitive spreads but charges higher fees for withdrawals.
Currently, only eight cryptocurrencies are available, which limits options for traders looking for a diverse portfolio.	Number of Cryptocurrencies	The platform offers trading in 30 cryptocurrencies, including major coins like Bitcoin and Ethereum.
The platform offers limited crypto-to-crypto pairs, which restricts trading strategies for users looking to trade beyond major cryptocurrencies.	Crypto-to-Crypto Trading Pairs	Limited crypto-to-crypto trading pairs available, primarily focusing on major coins.
Interactive Brokers provides clear and comprehensive information about their services and fees. However, the site could be more intuitive for beginners.	Website Transparency	NAGA provides clear information about its services, fees, and regulatory status, although some details may require deeper navigation to find.
Interactive Brokers offers an IBKR debit card for US residents as part of their Integrated Investment Management accounts .	Credit/Debit Card	Naga offers a personal NAGA Card that clients can use wherever Visa is accepted .
The platform offers secure storage solutions through partnerships with regulated entities, ensuring the safety of users’ digital assets.	Storage Offering	No actual crypto ownership; users trade CFDs instead, which means cryptocurrencies are not stored in personal wallets.
Interactive Brokers does not currently offer staking or rewards programs, which could be a drawback for users looking for passive income opportunities.	Staking and Rewards	NAGA does not offer staking or reward programs for cryptocurrency holdings.
The mobile and desktop platforms are highly rated for their functionality and user-friendly design, catering to both novice and experienced traders.	Mobile App and Desktop	The platform offers a robust mobile app and desktop version, providing flexibility and a seamless trading experience across devices.
The customer service is generally responsive and helpful. However, the complex account setup process can be a barrier for new users.	Customer Service	Responsive and reliable customer support with multiple contact methods, though phone support can be inconsistent.
The platform provides efficient deposit and withdrawal processes with multiple options, although there is room for improvement in speeding up withdrawal times.	Deposit and Withdraw	A variety of deposit methods are available, but withdrawal fees can be high, and processing times can vary.

Key features

Analysis tools

Interactive Brokers offers the Trader Workstation (TWS) platform, which includes powerful trading tools and advanced charting capabilities. They also provide comprehensive market data and analysis tools .

Naga Broker offers access to over 20 payment methods and integrates with various platforms to provide extensive trading and analysis tools. Specific tools for crypto analysis are not detailed .

Mobile APP

Yes, Interactive Brokers offers the IBKR Mobile app for iOS and Android devices, providing comprehensive trading tools and account management features .

Information on a specific mobile app for nagabroker is not explicitly stated in the retrieved documents.

Security

Interactive Brokers is regulated by top-tier US authorities like the SEC and FINRA, providing a high level of security and transparency. They offer SIPC insurance, protecting clients’ securities up to $500,000, including a $250,000 cash limit.

Naga Broker is regulated by the FCA and CySEC, ensuring a high level of security. They employ extensive security measures, including multi-level backups, firewalls, and load balancers, to protect client funds and data.

Additional features

Interactive Brokers allows clients to trade cryptocurrencies through Paxos or Zero Hash, offering a low commission rate of 0.12% to 0.18% of the trade value. They support a variety of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, and provide advanced trading tools through their Trader Workstation platform. Interactive Brokers also offer features like holding USD in crypto accounts and 24/7 trading .

Naga supports over 20 payment methods for deposits and withdrawals, including cryptocurrencies like Bitcoin and Ethereum. They offer a NAGA Card for convenient fund withdrawals and secure transactions. Naga also provides a user-friendly platform with features like social trading and a variety of educational resources .

Anonymity

Anonymous accounts are not available. Interactive Brokers requires detailed personal information and identity verification .

Nagabroker does not offer anonymous accounts. Users must complete identity verification with documents like a national ID card or passport .

Key points

Available cryptocurrencies

Interactive Brokers allows both direct trading and CFDs for cryptocurrencies. The available cryptocurrencies for direct trading are Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC). Additional coins are available through CFDs.

Naga provides trading in cryptocurrency CFDs. The supported cryptocurrencies include Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Uniswap (UNI), and Ripple (XRP).

User-friendliness

Interactive Brokers integrates cryptocurrency trading into its existing platform, allowing users to trade crypto alongside other asset classes. The platform offers low commissions and a professional-grade trading environment. However, the setup process might be more complex compared to dedicated crypto exchanges, which could be a drawback for less experienced users .

Naga provides a social trading platform that is easy to navigate and use, particularly for those interested in copying the trades of more experienced traders. The platform supports a variety of cryptocurrencies and offers competitive fees. While the extensive range of features might be overwhelming at first, the overall user experience is designed to be straightforward and accessible .

Value for money

Interactive Brokers is known for its low commissions and transparent pricing, making it a cost-effective choice for crypto trading. Its professional-grade trading tools add significant value, though the platform might be too complex for beginners.

Naga offers competitive fees and the added value of social trading features, which can be particularly useful for beginners. Its commission structure is reasonable, though some users might find the variety of charges and spreads a bit complicated.

Countries of operation

United States, Canada, United Kingdom, Ireland, Hungary, Australia, India, Japan, Hong Kong, Singapore .

European Union, United Kingdom, Australia, Switzerland, South Africa .

Best for

Interactive Brokers is ideal for professional and experienced traders who want to trade cryptocurrencies alongside other asset classes. Its low commissions and professional-grade trading tools make it a strong choice for serious investors.

Naga is excellent for social traders who want to follow and copy the trades of more experienced investors. It offers a variety of cryptocurrencies and competitive fees, making it suitable for those who prefer social trading and want a multi-asset platform.

Account

Trading

Interactive Brokers offers limited direct cryptocurrency trading but provides access to crypto-related financial products. It is more focused on traditional investment products, making it less ideal for pure crypto trading.

Nagabroker supports crypto CFD trading with several popular cryptocurrencies. The platform offers social trading features, allowing users to follow and copy the trades of experienced investors.

Deposit and withdrawal

Interactive Brokers allows deposits and withdrawals via bank transfers and wire transfers. The process is secure but can be slower, especially for international transfers. Fees may apply for withdrawals.

Nagabroker supports a range of deposit and withdrawal methods, including bank transfers, credit/debit cards, and e-wallets. The platform processes transactions quickly, though some methods may incur fees.

Account opening process

The account opening process at Interactive Brokers is detailed and thorough. Users must provide extensive personal and financial information, and submit various verification documents. The process is fully digital but can take a few days for approval due to the comprehensive requirements.

Opening an account with nagabroker is simple and digital. Users complete an online registration form, provide personal and financial information, and submit identity verification documents. Accounts are generally approved within one business day.

KYC required?

Yes, KYC is required at Interactive Brokers. The account opening process includes submitting personal identification documents and proof of address.

KYC verification is mandatory at nagabroker. Users need to provide identification documents and proof of address during the account registration process.

Customer Service

Interactive Brokers provides customer support via phone, email, and live chat. The support is available 24/5 and is generally responsive, though some users find the service to be slower during peak times due to high demand.

Nagabroker offers customer support through live chat, phone, and email. The support team is available 24/5 and is known for being responsive and helpful, providing users with timely assistance.

Security

Which of these exchanges is for you?

Alejandro Borja

As an expert on our website, I highly recommend Interactive Brokers for those interested in integrating cryptocurrency trading with traditional financial instruments. The platform offers competitive fees, robust security, and seamless integration with other asset classes, making it an excellent choice for experienced traders looking to diversify their portfolios. While the account setup process can be complex, the advanced trading features and reliable customer support make it worth the effort. If you’re seeking a secure and cost-effective way to trade cryptocurrencies, Interactive Brokers is a solid option.

Xavier Tarrasó

As an expert at Threenvest, I recommend NAGA Broker for traders seeking a user-friendly platform with robust educational resources and strong customer support. NAGA offers a wide range of financial instruments, including around 30 cryptocurrencies, making it an excellent choice for diversifying your trading portfolio. The platform’s social trading feature is particularly beneficial for beginners, allowing you to follow and copy the trades of successful investors. While the high minimum deposit and reliance on CFD trading might not appeal to everyone, NAGA’s comprehensive support and innovative features make it a solid option for those looking to leverage cryptocurrency CFDs in a regulated environment.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Comparison of Interactive Brokers vs Naga broker [ 2024 ]

Interactive Brokers

Naga broker

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

Interactive Brokers

Naga broker

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Company information

Full name

Regulation

Year founded

Founder

Payment methods

Transfers

Mastercard

Wire transfer

Card

Comparative table

Key features

Analysis tools

Mobile APP

Security

Additional features

Anonymity

Key points

Available cryptocurrencies

User-friendliness

Value for money

Countries of operation

Best for

Account

Trading

Deposit and withdrawal

Account opening process

KYC required?

Customer Service

Security

Which of these exchanges is for you?

How do we review crypto exchanges?

Risk Disclaimer

More comparatives Interactive Brokers and Naga broker