Comparison of Firstrade vs Naga broker [ 2024 ]

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

Your expert: Alejandro Borja

Firstrade

Your expert: Xavier Tarrasó

Naga broker

Main points

Fees

Low 4/5

Regulated

FINRA, SEC

Demo account

Low 3,7/5

Fees

CySEC

Regulated

Yes

Demo account

Recommended for

Beginners

Yes

Trading

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Passive income

Buy and hold

Comparison of fees

Rating

3.5 – Firstrade charges a 1% fee on crypto trades, which is higher than some competitors. Despite this, its low fees on other investment options and user-friendly platform add value .

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 4/5

Low 3,7/5

Brief explanation

Firstrade offers competitive and straightforward commission structures for cryptocurrency trading. The platform charges a flat fee of 1% for buying or selling cryptocurrencies, which is relatively high compared to some other exchanges but remains transparent without additional hidden fees. Trading Commissions Firstrade’s trading fee for cryptocurrencies is set at 1% of the trade value. This fee applies uniformly to all cryptocurrency transactions, ensuring that users are aware of the costs upfront. The simplicity of this fee structure is advantageous for those who prefer clarity and straightforward pricing. Other Fees Firstrade does not charge any deposit fees, making it cost-effective to add funds to your account. However, while withdrawals via ACH are free, wire transfers incur a fee of $25, which is something users should be mindful of when planning their fund withdrawals. Overall, Firstrade’s commission structure is designed to be transparent and easy to understand, with the primary cost being the 1% trading fee on all cryptocurrency transactions. This can be beneficial for traders who value simplicity and predictability in their trading costs.

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 .

Firstrade

Year Founded: Firstrade was established in 1985, making it one of the most experienced brokerage firms in the industry. With nearly four decades of operation, Firstrade has demonstrated stability and reliability through various market conditions.
Number of Users: Firstrade serves a large number of clients, reflecting its broad acceptance and trust within the investment community. The significant user base is a testament to its reliability and the trust it has earned over the years.
Security Methods: Firstrade employs stringent security measures to protect client accounts and personal information. The platform is regulated by top-tier authorities such as the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). Additionally, Firstrade provides high investor protection through the Securities Investor Protection Corporation (SIPC), covering up to $500,000, including $250,000 for cash.
Regulation: Firstrade is fully regulated by the SEC and FINRA, ensuring compliance with strict industry standards. This regulation provides an added layer of security and transparency, assuring users that their investments are managed according to rigorous guidelines.
Customer Service: Firstrade offers robust customer service options, including phone and email support. Although not available 24/7, their customer service team is dedicated to providing helpful and relevant responses. This commitment to customer care enhances user confidence and satisfaction.

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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Account Minimum

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Direct link to the website

Product selection

Native token

Firstrade does not have a native token.

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

Earns

Firstrade does not offer staking or earning options for cryptocurrencies. It focuses on trading a variety of digital assets .

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

NFT marketplace

Firstrade does not have an NFT marketplace.

Naga does not have an NFT marketplace.

Cripto/debit card

Firstrade does not offer a card for its clients .

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

Payment methods

Transfers

Yes, Firstrade 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, Firstrade 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, Firstrade does not accept credit/debit cards .

Yes, nagabroker accepts credit/debit cards .

Comparative table

Firstrade	Features	Naga broker
Firstrade allows low minimum trade amounts, making it accessible for beginners to start investing in cryptocurrencies.	Minimum Trade	NAGA offers a relatively low minimum trade size, allowing beginners to start trading with smaller amounts.
The platform offers competitive trading fees, although some users might find hidden costs associated with certain transactions.	Trading and Transaction Fees	NAGA has competitive spreads but charges higher fees for withdrawals.
Firstrade supports over 30 cryptocurrencies, providing a good range of options for investors.	Number of Cryptocurrencies	The platform offers trading in 30 cryptocurrencies, including major coins like Bitcoin and Ethereum.
While it offers a variety of cryptocurrencies, the number of available trading pairs is somewhat limited compared to other platforms.	Crypto-to-Crypto Trading Pairs	Limited crypto-to-crypto trading pairs available, primarily focusing on major coins.
Firstrade’s website is transparent and informative, clearly outlining fees, security measures, and available services.	Website Transparency	NAGA provides clear information about its services, fees, and regulatory status, although some details may require deeper navigation to find.
Firstrade does not offer a card for its clients .	Credit/Debit Card	Naga offers a personal NAGA Card that clients can use wherever Visa is accepted .
Firstrade lacks a dedicated cryptocurrency wallet, requiring users to use third-party services for storing their digital assets.	Storage Offering	No actual crypto ownership; users trade CFDs instead, which means cryptocurrencies are not stored in personal wallets.
The platform currently does not offer staking or reward programs, which can be a downside for users looking to earn passive income.	Staking and Rewards	NAGA does not offer staking or reward programs for cryptocurrency holdings.
Firstrade offers a highly rated mobile app and a robust desktop platform, ensuring a seamless trading experience across devices.	Mobile App and Desktop	The platform offers a robust mobile app and desktop version, providing flexibility and a seamless trading experience across devices.
Firstrade’s customer service is reliable but not available 24/7, which can be an inconvenience for users needing assistance outside business hours.	Customer Service	Responsive and reliable customer support with multiple contact methods, though phone support can be inconsistent.
Firstrade offers a variety of deposit and withdrawal options, although the lack of instant processing for some methods can be a drawback.	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

Firstrade offers a variety of tools and resources including research reports, market data and analysis, and educational resources such as webinars and articles .

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, Firstrade offers a mobile app available for iOS and Android devices, designed for a seamless trading experience .

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

Security

Firstrade is regulated by the SEC and FINRA in the United States, offering a high level of security. They follow strict security measures to protect client accounts and personal information.

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

Firstrade offers trading on 38 popular cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. Their platform is integrated with Apex Crypto for secure storage and trading. Firstrade provides a highly-rated mobile app for seamless trading on the go and features like real-time data and analytics, 24/7 trading, and instant fund access. They charge a high spot crypto fee of 1% of the trade value but provide a user-friendly experience for beginners .

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

Firstrade does not support anonymous accounts. The account opening process includes submitting personal details and verification documents .

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

Key points

Available cryptocurrencies

Firstrade provides access to 38 cryptocurrencies. These include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Cardano (ADA), Dogecoin (DOGE), Stellar (XLM), Solana (SOL), Shiba Inu (SHIB), and more.

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

User-friendliness

Firstrade offers a highly-rated mobile app for crypto trading, designed to provide a seamless and user-friendly experience. The platform supports a wide range of cryptocurrencies and allows for easy buying and selling. While it lacks a dedicated crypto wallet and some advanced features, its simplicity and accessibility make it a good choice for beginners looking to manage their crypto investments alongside other asset classes .

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

Firstrade offers a strong value proposition with low fees and no minimum deposit, making it accessible for beginners. However, its 1% trading fee on crypto is higher compared to some competitors, which could affect active traders.

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, Germany, United Kingdom, China, Singapore, Hong Kong .

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

Best for

Firstrade is best for US-based investors who want a straightforward, user-friendly platform to trade a variety of cryptocurrencies. Its mobile app and low fees make it a good option for beginners and those looking to manage their crypto investments alongside traditional assets.

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

Firstrade has limited offerings in cryptocurrency trading, focusing primarily on traditional securities. It may not be the best option for dedicated crypto traders.

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

Firstrade primarily supports deposits and withdrawals via bank transfers and checks. The process can be slower compared to other brokers, and international clients might face additional hurdles.

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

Opening an account with Firstrade involves completing an online application and submitting personal and financial information. Verification documents are required. The process can take a bit longer compared to other brokers, especially for international clients.

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?

Firstrade mandates KYC verification. Users must provide personal identification documents and proof of address as part of the account opening process.

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

Customer Service

Firstrade provides customer support via phone and email, but does not offer live chat. The support is available during regular business hours, and while it is generally helpful, the lack of live chat can be a drawback for some users.

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

Firstrade is regulated by the SEC and FINRA in the United States, offering a high level of security. They follow strict security measures to protect client accounts and personal information.

Which of these exchanges is for you?

Alejandro Borja

As an expert on our website, I find Firstrade to be a reliable choice for anyone looking to start investing in cryptocurrencies. The platform offers a secure and user-friendly experience, with competitive trading fees and a robust mobile app. However, the absence of a dedicated crypto wallet and 24/7 customer support are areas that could use improvement. Overall, Firstrade is a solid option for beginners and seasoned investors alike, thanks to its strong regulatory framework and extensive market experience.

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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Risk Disclaimer

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Comparison of Firstrade vs Naga broker [ 2024 ]

Firstrade

Naga broker

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

Firstrade

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 Firstrade and Naga broker