Comparison of Eightcap vs Naga broker [ 2024 ]

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

Your expert: Alejandro Borja

Eightcap

Your expert: Xavier Tarrasó

Naga broker

Main points

Fees

Low 4,3/5

Regulated

ASIC, VFSC

Demo account

Yes

Low 3,7/5

Fees

CySEC

Regulated

Yes

Demo account

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Passive income

Buy and hold

Comparison of fees

Rating

4.3 – Eightcap provides tight spreads and no deposit or withdrawal fees, making it a cost-effective choice for crypto trading. However, the lack of public financial information might be a concern .

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 4,3/5

Low 3,7/5

Brief explanation

Eightcap offers competitive commissions, particularly attractive for cryptocurrency traders. The platform provides two main account types: Raw and Standard. The Raw account features lower spreads starting from 0.0 pips but incurs a commission of $3.5 per lot per trade, making it suitable for high-frequency traders seeking tighter spreads. Conversely, the Standard account has no commission but higher spreads starting from 0.5 pips . For cryptocurrency trading, Eightcap’s spreads vary significantly depending on the asset. For instance, Bitcoin spreads can range up to 12 pips, which is competitive compared to other brokers. Additionally, there are no deposit or withdrawal fees, which further enhances the cost-effectiveness of trading on Eightcap. However, traders should be aware of potential overnight financing fees if positions are held beyond a day .

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 .

Eightcap

Regulation and Licensing: Eightcap is regulated by multiple top-tier financial authorities, including the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investments Commission (ASIC). These regulatory bodies are renowned for their stringent standards and oversight, ensuring that Eightcap adheres to high standards of financial practice and client protection .
Number of Users: Eightcap has grown its user base significantly since its inception, reflecting its reliability and the trust it has built among traders worldwide. The platform's expansion into various regions highlights its capability to cater to a diverse clientele, making it a trusted name in the crypto trading industry .
Security Methods Security is a top priority for Eightcap, employing advanced security protocols to protect client funds and personal information. The broker provides negative balance protection, ensuring that traders do not lose more than their account balance. This commitment to security measures gives users confidence in the safety of their investments .
Trading Volume and Liquidity: Eightcap handles a significant trading volume, offering high liquidity in its crypto CFDs. This is crucial for traders looking to execute large trades quickly without experiencing significant price slippage. The platform’s ability to manage high trading volumes efficiently is a testament to its robust infrastructure and reliability .
Transparency: Eightcap is transparent about its operations, fee structures, and regulatory compliance. This openness fosters trust among its users, as they can clearly understand the terms and conditions under which they trade. Transparency is further reinforced by the regular audits and disclosures mandated by the regulatory bodies overseeing Eightcap .

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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Direct link to the website

Product selection

Native token

Eightcap does not have a native token.

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

Earns

Eightcap does not offer earning options like staking for cryptocurrencies. It provides a wide range of crypto derivatives for trading .

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

NFT marketplace

Eightcap does not have an NFT marketplace.

Naga does not have an NFT marketplace.

Cripto/debit card

Eightcap does not have a card for its clients .

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

Payment methods

Transfers

Yes, Eightcap 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

Yes, Eightcap accepts Mastercard for deposits.

Yes, Naga accepts Mastercard for deposits.

Wire transfer

Yes, Wise is supported as a payment method .

Wise is not mentioned as a supported payment method .

Card

Yes, Eightcap accepts credit/debit cards .

Yes, nagabroker accepts credit/debit cards .

Comparative table

Eightcap	Features	Naga broker
Eightcap offers a low minimum trade requirement, making it accessible for traders at all levels. This encourages new traders to start small without significant financial risk.	Minimum Trade	NAGA offers a relatively low minimum trade size, allowing beginners to start trading with smaller amounts.
Eightcap charges competitive fees, including tight spreads from 0.1 pips and low commissions, particularly on its Raw account. This makes it an economical choice for active traders .	Trading and Transaction Fees	NAGA has competitive spreads but charges higher fees for withdrawals.
With over 250 crypto CFDs available, Eightcap provides one of the most extensive selections of cryptocurrencies in the market, catering to a wide range of trading interests .	Number of Cryptocurrencies	The platform offers trading in 30 cryptocurrencies, including major coins like Bitcoin and Ethereum.
While Eightcap offers a variety of fiat-to-crypto pairs, the availability of direct crypto-to-crypto trading pairs is somewhat limited, which might not meet the needs of all traders	Crypto-to-Crypto Trading Pairs	Limited crypto-to-crypto trading pairs available, primarily focusing on major coins.
Eightcap maintains a transparent website with clear information on fees, regulatory status, and trading conditions. However, more detailed educational resources could enhance user understanding .	Website Transparency	NAGA provides clear information about its services, fees, and regulatory status, although some details may require deeper navigation to find.
Eightcap does not have a card for its clients .	Credit/Debit Card	Naga offers a personal NAGA Card that clients can use wherever Visa is accepted .
Eightcap does not provide crypto wallet services since it focuses on CFD trading, which means traders cannot store actual cryptocurrencies on the platform .	Storage Offering	No actual crypto ownership; users trade CFDs instead, which means cryptocurrencies are not stored in personal wallets.
There are no staking or reward programs available on Eightcap, which might be a disadvantage for traders looking to earn passive income through their crypto holdings .	Staking and Rewards	NAGA does not offer staking or reward programs for cryptocurrency holdings.
Eightcap supports mobile trading through the MetaTrader 4/5 and TradingView apps, offering robust functionality and user-friendly interfaces, but lacks a proprietary mobile app .	Mobile App and Desktop	The platform offers a robust mobile app and desktop version, providing flexibility and a seamless trading experience across devices.
Customer service is available through live chat, phone, and email, but is not 24/7, which can be limiting for traders who need immediate assistance outside of business hours .	Customer Service	Responsive and reliable customer support with multiple contact methods, though phone support can be inconsistent.
Eightcap offers multiple deposit and withdrawal methods with no fees, including bank transfers, credit cards, and e-wallets, ensuring flexibility and cost-effectiveness for users .	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

Eightcap provides access to the TradingView platform, known for its advanced charting capabilities, and Capitalise.ai for algorithmic trading. They also offer the MetaTrader 4 and 5 platforms with a range of technical 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, Eightcap provides mobile trading through the MetaTrader 4 and 5 apps, as well as the TradingView mobile app .

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

Security

Eightcap is regulated by top-tier authorities such as the FCA and ASIC, providing a solid level of investor security. They offer negative balance protection for UK and EU clients but do not provide financial information publicly.

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

Eightcap excels in cryptocurrency CFD trading, offering access to over 250 crypto derivatives. Their trading tools include resources like Crypto Crusher for market insights and Capitalise.ai for automated trading strategies. Eightcap also supports deposits and withdrawals in digital currencies, making it convenient for crypto traders. However, they do not offer a proprietary mobile app, relying instead on MetaTrader and TradingView for mobile 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

Eightcap does not offer anonymous accounts. The registration process involves providing personal and financial information, and verification with a passport or ID and proof of residence .

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

Key points

Available cryptocurrencies

Eightcap offers trading in over 250 cryptocurrency CFDs. Available cryptocurrencies include popular coins like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), as well as altcoins like Polkadot (DOT), Binance Coin (BNB), Chainlink (LINK), Stellar (XLM), EOS, and memecoins like Dogecoin (DOGE) and Shiba Inu (SHIB).

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

User-friendliness

Eightcap provides a seamless and fast account opening process, making it easy for users to start trading cryptocurrencies. The platform supports multiple payment methods, including credit/debit cards and e-wallets, which adds to its ease of use. Eightcap’s trading platforms are designed to be intuitive, ensuring that users can navigate and trade efficiently without much hassle .

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

Eightcap provides great value with no deposit or withdrawal fees and a wide range of supported payment methods. Its tight spreads and leverage options enhance its attractiveness, although the lack of public financial information might be a concern for some.

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 Kingdom, European Union, Australia, Bahamas, St. Vincent and the Grenadines .

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

Best for

Eightcap is perfect for traders seeking a vast selection of over 250 cryptocurrency CFDs, including memecoins and altcoins. It’s well-suited for those who want to trade crypto derivatives in a regulated and secure environment.

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

Eightcap supports crypto CFD trading with competitive spreads and leverage. The platform offers a range of popular cryptocurrencies, making it a good choice for traders looking for diversity in their crypto investments.

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

Eightcap supports deposits and withdrawals through bank transfers, credit/debit cards, and various e-wallets. The platform processes transactions efficiently, but some e-wallets may incur small fees.

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 Eightcap is straightforward and fully digital. Users need to fill out an online form with personal and financial information and submit verification documents. Accounts are generally approved within one business day.

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 Eightcap. Users need to submit personal identification documents and proof of address to verify their accounts.

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

Customer Service

Eightcap offers customer support through live chat, phone, and email. The support team is available 24/5 and is generally responsive, providing helpful and timely assistance to 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

Which of these exchanges is for you?

Alejandro Borja

As an expert on cryptocurrency investment platforms, I highly recommend Eightcap for traders looking to dive into the world of crypto derivatives. Eightcap offers an extensive range of over 250 cryptocurrency CFDs, making it one of the most comprehensive brokers in this space. Their platform is user-friendly, and the tight spreads coupled with fast order execution are ideal for day traders. Additionally, the regulation by top-tier authorities like FCA and ASIC ensures a secure trading environment. However, the lack of a proprietary mobile app and limited educational resources are areas that could see improvement to better support new traders.

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

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 Eightcap vs Naga broker [ 2024 ]

Eightcap

Naga broker

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

Eightcap

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 Eightcap and Naga broker