Recalculated 2026-11-02 · Established 2015 · Served under offshore NAGA Capital Ltd (
NAGA — South Africa
NAGA is rated 2.16 out of 5 by our formula (Rank #64 of 70) for traders in South Africa: round turn 11 USD, residents accepted — Through an offshore entity.
Suits you if a swap-free account is available · it runs 3 trading platforms · it has been trading for 11 years
Look elsewhere if the round turn is 11 USD against a 7 USD median here · the minimum is 250 USD against 50 USD in this market · it holds no licence issued in South Africa
Key facts (8)
- Who actually onboards you
- Served under offshore NAGA Capital Ltd (Seychelles); EU-arm is NAGA Ma
- Licence number
- not stated
- Established
- 2015group
- Min deposit, USD
- 250 USDgeo
- Platforms
- Proprietary NAGA app/web · MT4 · MT5
- Local funding
- Cards (Visa/Mastercard), bank transfer, e-wallet
- Max leverage
- 1000geo
- EURUSD
- 1.1 pipsgeo
This broker against the South Africa middle (81 of 104)
| NAGA | South Africa median | |
|---|---|---|
| Round turn, USD | 11.0 USD | 7.0 USD |
| Min deposit, USD | 250 USDgeo | 50.0 USD |
| Max leverage | 1000geo | 500.0geo |
| Withdrawal, h | 24 business hoursgroup | 24.0 h |
| EURUSD, standard | 1.1 pipsgeo | 1.0 pips |
| EURUSD, raw | — | 0.0 pips |
| Established | 2015group | 2009.0 |
| Platforms | 3 | 3.0 |
Onboards residents through an offshore entity
Offshore/unregulated locally; not FSCA-authorised, so no local retail protections.
56 of 104 brokers in our base hold a licence issued in South Africa. That is a fact about the market, not about NAGA.
- Who actually onboards you
- Served under offshore NAGA Capital Ltd (Seychelles); EU-arm is NAGA Markets Europe Ltd.
- Licence number
- —
- Local licence
- no
- Checked
- 2026-07-09
Score (6/6 axes)
A weighted average of the axes below. Each axis is measured on the same scale as the score itself, and carries the weight shown beside it.
Check:25.0% × 0.75+ 20.0% × 3.50+ 20.0% × 0.00+ 15.0% × 4.00+ 10.0% × 2.75+ 10.0% × 4.00= 2.16
Ranked against brokers measured on every axis
Licence check
- Licence number
- —
- Checked
- 2026-07-09
Who actually onboards you
Served under offshore NAGA Capital Ltd (Seychelles); EU-arm is NAGA Markets Europe Ltd.
Offshore entity
What each account gives you
Tiered: Iron/Bronze/Silver/Gold/Platinum/VIP; min USD 250.
Cost per round turn, and the South Africa middle (81 of 104)
standard
Client-money protections
Min USD 250 (Iron).
What the broker publishes about payouts
Trading software and asset classes (3)
Proprietary NAGA app/web · MT4 · MT5
FX, indices, fractional stocks & ETFs, crypto CFDs, commodities; social/copy trading.
Reviews
4,113 3.3
Where it wins, where it loses
Pros (2)
- Swap-free account available
- Withdrawal published at 24 business hours
Cons (3)
- Round turn 11.0 USD against a South Africa median of 7.0
- No local licence: the client is onboarded by a foreign entity
- Carries a regulator warning; excluded from beginner and most-established lists
Where it does not serve
Afghanistan, Albania, American Samoa, Anguilla, Australia, Austria, Barbados, Belarus, Belgium, Bermuda, British Indian Ocean Territory, Bulgaria, Burkina Faso, Canada, Cayman Islands, Central African Republic, Christmas Island, Cocos (Keeling) Islands, Democratic Republic of the Congo, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Falkland Islands (Malvinas), Finland, France, Germany, Gibral
Methodology
the weighted mean of six axes, each on the same 0–5 scale · reviews 25%, cost 20%, safety 20%, payouts 15%, track_record 10%, platforms 10%
Sources (2)
2 sources, read on 2026-07-09. Ordered by weight of evidence: regulator registers first, then the broker's own documents, review platforms and aggregators.
- The broker's own documents
- 1naga.comnaga.com · domainBroker
- Aggregators and directories
- 2sashares.co.zasashares.co.za · domainAggregator
FAQ (5)
Does NAGA accept residents of South Africa?
Through an offshore entity.
Which entity onboards a South Africa client of NAGA?
Served under offshore NAGA Capital Ltd (Seychelles); EU-arm is NAGA Markets Europe Ltd.
What licence does NAGA hold for South Africa?
No licence number is published for this country.
What does one EURUSD lot cost at NAGA?
11.0 USD per round turn against a South Africa median of 7.0 USD, measured on 81 of 104 brokers.
How long does a withdrawal from NAGA take?
NAGA publishes 24 business hours. Their own wording: “All withdrawals are being processed by NAGA within 24 business hours.”.