Comparison of Naga broker vs Plus500 [ 2024 ]

The best brokers to invest in cryptocurrencies compared by their commissions, cryptos, security and much more. Here is theNaga broker vs Plus500 comparison!

Your expert: Alejandro Borja

Naga broker

Your expert: Xavier Tarrasó

Plus500

Main points

Fees

Low 3,7/5

Regulated

CySEC

Demo account

Yes

Low 3,7/6

Fees

FCA, 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

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 .

4.0 – Plus500 provides good value with tight spreads and no commission on trades. The inactivity fee after three months and currency conversion fees are potential downsides .

Level

Low 3,7/5

Low 3,7/6

Brief explanation

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 .

Plus500’s commission structure is designed to be straightforward, primarily utilizing the market spread. This means that the cost to trade is embedded in the difference between the buy and sell prices, rather than in explicit fees. For example, spreads can vary from 0.02% to 2%, depending on the cryptocurrency and market conditions. While this can be competitive, it may be higher compared to other platforms, especially for less liquid assets. In addition to the spread, Plus500 charges an overnight funding fee, which applies when positions are held open past a certain time. This fee can be either a charge or a credit, depending on the direction of the trade and the current interest rates. Additionally, there is a currency conversion fee for trades conducted in a currency different from the account’s base currency. Plus500 also implements an inactivity fee of up to $10 per month if no login activity occurs for three months, which continues to accrue until the account is active again. Despite these potential costs, Plus500 does not charge for deposits or withdrawals, which is a significant advantage. Users can fund their accounts via various methods including credit/debit cards, bank transfers, and e-wallets like PayPal. This fee structure makes Plus500 accessible and predictable for users, with the primary costs tied to the actual trading activity and specific conditions of the account .

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.

Plus500

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.

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Account Minimum

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Direct link to the website

Product selection

Native token

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

Plus500 does not have a native token.

Earns

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

Plus500 does not offer staking or earning options for cryptocurrencies. It focuses on trading crypto CFDs .

NFT marketplace

Naga does not have an NFT marketplace.

Plus500 does not have an NFT marketplace.

Cripto/debit card

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

Plus500 does not offer a card for its clients .

Payment methods

Transfers

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

Yes, Plus500 accepts bank transfers for both deposits and withdrawals .

Mastercard

Yes, Naga accepts Mastercard for deposits.

Yes, Plus500 accepts Mastercard for deposits.

Wire transfer

Wise is not mentioned as a supported payment method .

Card

Yes, nagabroker accepts credit/debit cards .

Yes, Plus500 accepts credit/debit cards .

Comparative table

Naga broker	Features	Plus500
NAGA offers a relatively low minimum trade size, allowing beginners to start trading with smaller amounts.	Minimum Trade	Firstrade allows low minimum trade amounts, making it accessible for beginners to start investing in cryptocurrencies.
NAGA has competitive spreads but charges higher fees for withdrawals.	Trading and Transaction Fees	The platform offers competitive trading fees, although some users might find hidden costs associated with certain transactions.
The platform offers trading in 30 cryptocurrencies, including major coins like Bitcoin and Ethereum.	Number of Cryptocurrencies	Firstrade supports over 30 cryptocurrencies, providing a good range of options for investors.
Limited crypto-to-crypto trading pairs available, primarily focusing on major coins.	Crypto-to-Crypto Trading Pairs	While it offers a variety of cryptocurrencies, the number of available trading pairs is somewhat limited compared to other platforms.
NAGA provides clear information about its services, fees, and regulatory status, although some details may require deeper navigation to find.	Website Transparency	Firstrade’s website is transparent and informative, clearly outlining fees, security measures, and available services.
Naga offers a personal NAGA Card that clients can use wherever Visa is accepted .	Credit/Debit Card	Plus500 does not offer a card for its clients .
No actual crypto ownership; users trade CFDs instead, which means cryptocurrencies are not stored in personal wallets.	Storage Offering	Firstrade lacks a dedicated cryptocurrency wallet, requiring users to use third-party services for storing their digital assets.
NAGA does not offer staking or reward programs for cryptocurrency holdings.	Staking and Rewards	The platform currently does not offer staking or reward programs, which can be a downside for users looking to earn passive income.
The platform offers a robust mobile app and desktop version, providing flexibility and a seamless trading experience across devices.	Mobile App and Desktop	Firstrade offers a highly rated mobile app and a robust desktop platform, ensuring a seamless trading experience across devices.
Responsive and reliable customer support with multiple contact methods, though phone support can be inconsistent.	Customer Service	Firstrade’s customer service is reliable but not available 24/7, which can be an inconvenience for users needing assistance outside business hours.
A variety of deposit methods are available, but withdrawal fees can be high, and processing times can vary.	Deposit and Withdraw	Firstrade offers a variety of deposit and withdrawal options, although the lack of instant processing for some methods can be a drawback.

Key features

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 .

Plus500 offers a WebTrader platform with advanced charting tools and technical indicators. They also provide innovative tools such as +Insights and Traders’ Sentiment for market analysis .

Mobile APP

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

Yes, Plus500 offers a user-friendly mobile app for trading CFDs on cryptocurrencies and other instruments .

Security

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.

Plus500 is regulated by several top-tier authorities, including the FCA and ASIC. They offer negative balance protection for CFD trading and are listed on the London Stock Exchange, enhancing transparency and security.

Additional features

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 .

Plus500 is a CFD trading platform offering a wide range of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. They provide a user-friendly WebTrader platform and a mobile app with powerful research tools. Plus500 offers competitive spreads and operates under multiple regulations, ensuring a secure trading environment. However, they do not allow the direct purchase of cryptocurrencies, only trading on price movements through CFDs .

Anonymity

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

Plus500 requires identity and residence verification during the account opening process, so anonymous accounts are not supported .

Key points

Available cryptocurrencies

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

Plus500 offers trading in cryptocurrency CFDs. The available cryptocurrencies include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), NEO, Ripple (XRP), IOTA, Stellar (XLM), EOS, Bitcoin Cash (BCH), Cardano (ADA), Tron (TRX), and Monero (XMR).

User-friendliness

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 .

Plus500 is known for its intuitive WebTrader platform, which simplifies the process of trading cryptocurrency CFDs. The platform is designed to be user-friendly, with a clean and minimalist interface that makes it easy to navigate. Plus500’s focus on CFDs means users do not own the underlying assets, which can be a limitation for those looking to hold actual cryptocurrencies .

Value for money

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.

Plus500 offers solid value for money with no deposit or withdrawal fees and a user-friendly platform. Its tight spreads and zero commission on trades are major benefits, although the minimum withdrawal amounts and inactivity fees could be drawbacks.

Countries of operation

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

United Kingdom, Australia, New Zealand, Singapore, Israel, United Arab Emirates .

Best for

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.

Plus500 is ideal for traders who want a simple and intuitive platform for trading cryptocurrency CFDs without the need to manage actual crypto assets. It’s best for those who prefer a straightforward, user-friendly experience with competitive spreads.

Account

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.

Plus500 supports crypto CFD trading with a user-friendly interface and a variety of cryptocurrencies. It offers leverage and competitive spreads, making it accessible to both new and experienced traders.

Deposit and withdrawal

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.

Plus500 supports deposits and withdrawals through bank transfers, credit/debit cards, and e-wallets. Transactions are generally processed quickly, though some methods may incur small fees.

Account opening process

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.

The account opening process at Plus500 is quick and fully digital. Users fill out an online form with personal and financial information, and submit verification documents. Accounts are usually approved within one business day.

KYC required?

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

KYC verification is mandatory at Plus500. Users need to provide identification documents and proof of address during the account opening process.

Customer Service

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.

Plus500 offers customer support through live chat and email, but does not provide phone support. The support is available 24/7 and is known for being responsive and efficient, though the lack of phone support can be limiting.

Security

Which of these exchanges is for you?

Alejandro Borja

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.

Xavier Tarrasó

As an expert at our website, I find Plus500 to be a robust and user-friendly platform for trading cryptocurrencies. Its intuitive interface makes it ideal for beginners, while its range of available cryptocurrencies ensures that even more experienced traders can find what they need. The lack of commission fees is a significant advantage, allowing users to trade more cost-effectively. However, it’s essential to be mindful of the spreads and potential withdrawal fees. Overall, Plus500 offers a secure and efficient environment for cryptocurrency trading, backed by strong regulatory oversight and advanced security measures.

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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 Naga broker vs Plus500 [ 2024 ]

Naga broker

Plus500

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

Naga broker

Plus500

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 Naga broker and Plus500