1,062 broker-country pairs measured448 brokers20 countriesformula v1.0recalculated 2026-07-09data re-captured 2026-07-09updated 1 day agoAffiliate links never change scores.

NAGA in ZA — review, licence and costs

TMThandi Mokoena author DMDaniel Mercer editor PWPieter van Wyk fact-checker score recalculated 01.10.2026
through an offshore entityAccepts residents of South AfricaOpened by NAGA (South Africa) (Pty) Ltd, FSCA licence no data, register checked 2026-07-09

Offshore storefront vs local (60 of 104 fields)

Field
Group site
South African resident
Entity
Halden Global Ltd
NAGA (South Africa) (Pty) Ltd
Regulator
FSA Seychelles
FSCA
Retail leverage
1:1000group
1:50ZA
Min deposit, USD
10group
100ZA
Currencies
USD, EUR
USD, ZAR
Negative balance cover
no data
Yes
Complaints
FSA
FSCA

Score (60 of 104 of 104 axes)

3.522.0–5.0

shown, not ranked: no reviews

  • Reviews25%no data
  • Reviews20%cost 70
  • Reviews20%safety 0
  • Reviews15%payouts 80
  • Reviews10%track_record 55
  • Reviews10%platforms 65
2 + 3 × 0.751 = 4.25 · axes on 0–100, total on 2.0–5.0

Key facts (60 of 104 fields)

Onboarding entity
Served under offshore NAGA Capital Ltd (Seychelles); EU-arm is NAGA Markets Europe Ltd.
Founded
2015
Min deposit
250 USDZA
Retail leverage
1000ZA
Round turn
11 USDZA
Withdrawal
24 business hours hZA
Currencies
No ZAR verified; USD/EUR/GBP.
Swap-free account
yes

Licence check (60 of 104 of 104 entity)

FFSCA · FSP licence, Category I
no data
Active on registerchecked 2026-07-09https://naga.com
Open an account with Halden

Affiliate link; the score does not change. CFDs carry a high risk of rapid loss due to leverage.

Who actually onboards you(60 of 104 local and 1 offshore entity in the group)

  1. Sign-up from a South Africa addressRouted to South Africa (Pty) Ltd by residence, not by IP.
  2. KYC by South Africa (Pty) LtdSA ID and proof of address.
  3. Contract with the (Pty) LtdFSCA rules apply; complaints go to FSCA.
  4. Client moneySegregated with a South Africa bank; bank name no data
Local entityUsed for South African residents
  • NAGA (South Africa) (Pty) Ltd, FSCA FSP 48920
  • Retail leverage 1:50ZA
  • Negative balance protection: yes
Offshore entityNot used for South African residents
  • Halden Global Ltd, FSA Seychelles
  • Leverage 1:1000group
  • No FSCA complaints route

If the sign-up form ever lands you on the Seychelles entity, the FSCA licence above does not cover your account.

Leverage by entity (60 of 104 of 104 entities stated)

The licence belongs to the firm; a leverage figure belongs to one entity. Only the entity that onboards South African residents enters the score.

Local entity · onboards youLocal entitylocal · FSCA licence no data
1:500ZA
South Africa median, local entities: 1:50 · 18 of 20 statedApplies to you
Local entity · onboards youOffshore entityoffshore · FSCA licence no data
1:500ZA
South Africa median, local entities: 1:50 · 18 of 20 statedApplies to you

Scale from 1:10 to 1:3000, logarithmic.

Client protection (60 of 104 of 104 stated)

  • Local entity onboards youOffshore/unregulated locally; not FSCA-authorised, so no local retail protections.client agreement §4.2 · page
  • Segregated client fundsno dataclient agreement §4.2 · page
  • Negative balance protectionno dataclient agreement §4.2 · page
  • Investor compensation schemeno dataclient agreement §4.2 · page
  • Regulator warning on filenone foundclient agreement §4.2 · page

“no data” means the broker does not state it in any source we captured. It is not read as “no protection” and it is not scored.

Price against South Africa market median(priced from 60 of 104 of 104)

Round turn, 1 lot EURUSD, spread plus commission, USD
Halden Raw6.20
South Africa median, raw and swap-free9.20
Halden Standard11.40
South Africa median, standard (60 of 104 priced)13.90
InstrumentHalden Raw, USDHalden Std, USDSouth Africa median rawSouth Africa median stdPriced

Medians run over the brokers that publish a South Africa price, never over all 44. Group-wide prices are excluded.

Accounts(60 of 104 types)

AccountMin deposit, USDEURUSD spread, pipsCommission, USDLeverageSwapCurrencies

Swap-free account terms (60 of 104 terms · 5 stated)

TermHalden, South Africa

Terms read from the account page on 01.10.2026. The cap on open positions is not published.

Where Halden sits in the South Africa base(60 of 104 brokers)

Round-turn cost, USD (60 of 104 of 104 priced)

2<6.5
26.5–7.5
27.5–8.5
38.5–9.5
39.5–10.5
110.5–11.5
4≥11.5

Highlighted: Halden Raw at 6.20

Minimum deposit, USD (60 of 104 of 104 priced)

9<25
925–99
10100
3101–299
4≥300

Highlighted: Halden at 100 · South Africa median 50

Retail leverage (60 of 104 of 104 with a South Africa figure)

11≤1:30
71:50
51:51–200
61:201–400
10>1:400

1 group-only figure excluded · 4 no data

Withdrawal time published (60 of 104 brokers)

6of 44
Published, hours6No data38Halden is one of the 6

Payouts(60 of 104 of 104 methods timed)

MethodDeposit, hWithdrawal, hFee, USDMin, USD

Deposit and withdrawal methods (60 of 104 methods · 2 local)

  • Cards (Visa/Mastercard)local
    Deposit
    instant
    Withdrawal
    deposit only
    Fee
    no data
  • bank transferlocal
    Deposit
    instant
    Withdrawal
    deposit only
    Fee
    no data
  • e-walletslocal
    Deposit
    instant
    Withdrawal
    deposit only
    Fee
    no data
  • crypto; specific ZAR rails not verifiedlocal
    Deposit
    instant
    Withdrawal
    deposit only
    Fee
    no data
Account currency
No ZAR verified; USD/EUR/GBP.
Fastest withdrawal
24 business hours h ZA
Fee declared
4 of 6 methods
Withdrawal back to
the funding method

Where it does not serve(60 of 104 countries)

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, Gibraltar, Greece, Guam, Haiti, Heard Island and McDonald Islands, Hungary, Iceland, Iran, Ireland, Isle of Man, Israel, Italy, Jamaica, Japan, Jersey, North Korea, Latvia, Libyan Arab Jamahiriya, Liechtenstein, Lithuania, Luxembourg, Mali, Malta, Montserrat, Mozambique, Myanmar, Netherlands, New Zealand, Norfolk Island, Norway, Occupied Palestinian Territory, Pitcairn, Poland, Portugal, Romania, Saint Helena, Ascension and Tristan Da Cunha, San Marino, Senegal, Serbia, Slovakia, Slovenia, Somalia, South Georgia and the South Sandwich Islands, South Sudan, Spain, Sri Lanka, Sweden, Switzerland, Syrian Arab Republic, Trinidad and Tobago, Tunisia, Turks and Caicos Islands, Uganda, United KingdomAfghanistan, 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, Gibraltar, Greece, Guam, Haiti, Heard Island and McDonald Islands, Hungary, Iceland, Iran, Ireland, Isle of Man, Israel, Italy, Jamaica, Japan, Jersey, North Korea, Latvia, Libyan Arab Jamahiriya, Liechtenstein, Lithuania, Luxembourg, Mali, Malta, Montserrat, Mozambique, Myanmar, Netherlands, New Zealand, Norfolk Island, Norway, Occupied Palestinian Territory, Pitcairn, Poland, Portugal, Romania, Saint Helena, Ascension and Tristan Da Cunha, San Marino, Senegal, Serbia, Slovakia, Slovenia, Somalia, South Georgia and the South Sandwich Islands, South Sudan, Spain, Sri Lanka, Sweden, Switzerland, Syrian Arab Republic, Trinidad and Tobago, Tunisia, Turks and Caicos Islands, Uganda, United KingdomAfghanistan, 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, Gibraltar, Greece, Guam, Haiti, Heard Island and McDonald Islands, Hungary, Iceland, Iran, Ireland, Isle of Man, Israel, Italy, Jamaica, Japan, Jersey, North Korea, Latvia, Libyan Arab Jamahiriya, Liechtenstein, Lithuania, Luxembourg, Mali, Malta, Montserrat, Mozambique, Myanmar, Netherlands, New Zealand, Norfolk Island, Norway, Occupied Palestinian Territory, Pitcairn, Poland, Portugal, Romania, Saint Helena, Ascension and Tristan Da Cunha, San Marino, Senegal, Serbia, Slovakia, Slovenia, Somalia, South Georgia and the South Sandwich Islands, South Sudan, Spain, Sri Lanka, Sweden, Switzerland, Syrian Arab Republic, Trinidad and Tobago, Tunisia, Turks and Caicos Islands, Uganda, United KingdomAfghanistan, 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, Gibraltar, Greece, Guam, Haiti, Heard Island and McDonald Islands, Hungary, Iceland, Iran, Ireland, Isle of Man, Israel, Italy, Jamaica, Japan, Jersey, North Korea, Latvia, Libyan Arab Jamahiriya, Liechtenstein, Lithuania, Luxembourg, Mali, Malta, Montserrat, Mozambique, Myanmar, Netherlands, New Zealand, Norfolk Island, Norway, Occupied Palestinian Territory, Pitcairn, Poland, Portugal, Romania, Saint Helena, Ascension and Tristan Da Cunha, San Marino, Senegal, Serbia, Slovakia, Slovenia, Somalia, South Georgia and the South Sandwich Islands, South Sudan, Spain, Sri Lanka, Sweden, Switzerland, Syrian Arab Republic, Trinidad and Tobago, Tunisia, Turks and Caicos Islands, Uganda, United KingdomAfghanistan, 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, Gibraltar, Greece, Guam, Haiti, Heard Island and McDonald Islands, Hungary, Iceland, Iran, Ireland, Isle of Man, Israel, Italy, Jamaica, Japan, Jersey, North Korea, Latvia, Libyan Arab Jamahiriya, Liechtenstein, Lithuania, Luxembourg, Mali, Malta, Montserrat, Mozambique, Myanmar, Netherlands, New Zealand, Norfolk Island, Norway, Occupied Palestinian Territory, Pitcairn, Poland, Portugal, Romania, Saint Helena, Ascension and Tristan Da Cunha, San Marino, Senegal, Serbia, Slovakia, Slovenia, Somalia, South Georgia and the South Sandwich Islands, South Sudan, Spain, Sri Lanka, Sweden, Switzerland, Syrian Arab Republic, Trinidad and Tobago, Tunisia, Turks and Caicos Islands, Uganda, United KingdomAfghanistan, 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, Gibraltar, Greece, Guam, Haiti, Heard Island and McDonald Islands, Hungary, Iceland, Iran, Ireland, Isle of Man, Israel, Italy, Jamaica, Japan, Jersey, North Korea, Latvia, Libyan Arab Jamahiriya, Liechtenstein, Lithuania, Luxembourg, Mali, Malta, Montserrat, Mozambique, Myanmar, Netherlands, New Zealand, Norfolk Island, Norway, Occupied Palestinian Territory, Pitcairn, Poland, Portugal, Romania, Saint Helena, Ascension and Tristan Da Cunha, San Marino, Senegal, Serbia, Slovakia, Slovenia, Somalia, South Georgia and the South Sandwich Islands, South Sudan, Spain, Sri Lanka, Sweden, Switzerland, Syrian Arab Republic, Trinidad and Tobago, Tunisia, Turks and Caicos Islands, Uganda, United KingdomAfghanistan, 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, Gibraltar, Greece, Guam, Haiti, Heard Island and McDonald Islands, Hungary, Iceland, Iran, Ireland, Isle of Man, Israel, Italy, Jamaica, Japan, Jersey, North Korea, Latvia, Libyan Arab Jamahiriya, Liechtenstein, Lithuania, Luxembourg, Mali, Malta, Montserrat, Mozambique, Myanmar, Netherlands, New Zealand, Norfolk Island, Norway, Occupied Palestinian Territory, Pitcairn, Poland, Portugal, Romania, Saint Helena, Ascension and Tristan Da Cunha, San Marino, Senegal, Serbia, Slovakia, Slovenia, Somalia, South Georgia and the South Sandwich Islands, South Sudan, Spain, Sri Lanka, Sweden, Switzerland, Syrian Arab Republic, Trinidad and Tobago, Tunisia, Turks and Caicos Islands, Uganda, United KingdomAfghanistan, 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, Gibraltar, Greece, Guam, Haiti, Heard Island and McDonald Islands, Hungary, Iceland, Iran, Ireland, Isle of Man, Israel, Italy, Jamaica, Japan, Jersey, North Korea, Latvia, Libyan Arab Jamahiriya, Liechtenstein, Lithuania, Luxembourg, Mali, Malta, Montserrat, Mozambique, Myanmar, Netherlands, New Zealand, Norfolk Island, Norway, Occupied Palestinian Territory, Pitcairn, Poland, Portugal, Romania, Saint Helena, Ascension and Tristan Da Cunha, San Marino, Senegal, Serbia, Slovakia, Slovenia, Somalia, South Georgia and the South Sandwich Islands, South Sudan, Spain, Sri Lanka, Sweden, Switzerland, Syrian Arab Republic, Trinidad and Tobago, Tunisia, Turks and Caicos Islands, Uganda, United KingdomAfghanistan, 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, Gibraltar, Greece, Guam, Haiti, Heard Island and McDonald Islands, Hungary, Iceland, Iran, Ireland, Isle of Man, Israel, Italy, Jamaica, Japan, Jersey, North Korea, Latvia, Libyan Arab Jamahiriya, Liechtenstein, Lithuania, Luxembourg, Mali, Malta, Montserrat, Mozambique, Myanmar, Netherlands, New Zealand, Norfolk Island, Norway, Occupied Palestinian Territory, Pitcairn, Poland, Portugal, Romania, Saint Helena, Ascension and Tristan Da Cunha, San Marino, Senegal, Serbia, Slovakia, Slovenia, Somalia, South Georgia and the South Sandwich Islands, South Sudan, Spain, Sri Lanka, Sweden, Switzerland, Syrian Arab Republic, Trinidad and Tobago, Tunisia, Turks and Caicos Islands, Uganda, United KingdomAfghanistan, 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, Gibraltar, Greece, Guam, Haiti, Heard Island and McDonald Islands, Hungary, Iceland, Iran, Ireland, Isle of Man, Israel, Italy, Jamaica, Japan, Jersey, North Korea, Latvia, Libyan Arab Jamahiriya, Liechtenstein, Lithuania, Luxembourg, Mali, Malta, Montserrat, Mozambique, Myanmar, Netherlands, New Zealand, Norfolk Island, Norway, Occupied Palestinian Territory, Pitcairn, Poland, Portugal, Romania, Saint Helena, Ascension and Tristan Da Cunha, San Marino, Senegal, Serbia, Slovakia, Slovenia, Somalia, South Georgia and the South Sandwich Islands, South Sudan, Spain, Sri Lanka, Sweden, Switzerland, Syrian Arab Republic, Trinidad and Tobago, Tunisia, Turks and Caicos Islands, Uganda, United KingdomAfghanistan, 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, Gibraltar, Greece, Guam, Haiti, Heard Island and McDonald Islands, Hungary, Iceland, Iran, Ireland, Isle of Man, Israel, Italy, Jamaica, Japan, Jersey, North Korea, Latvia, Libyan Arab Jamahiriya, Liechtenstein, Lithuania, Luxembourg, Mali, Malta, Montserrat, Mozambique, Myanmar, Netherlands, New Zealand, Norfolk Island, Norway, Occupied Palestinian Territory, Pitcairn, Poland, Portugal, Romania, Saint Helena, Ascension and Tristan Da Cunha, San Marino, Senegal, Serbia, Slovakia, Slovenia, Somalia, South Georgia and the South Sandwich Islands, South Sudan, Spain, Sri Lanka, Sweden, Switzerland, Syrian Arab Republic, Trinidad and Tobago, Tunisia, Turks and Caicos Islands, Uganda, United KingdomAfghanistan, 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, Gibraltar, Greece, Guam, Haiti, Heard Island and McDonald Islands, Hungary, Iceland, Iran, Ireland, Isle of Man, Israel, Italy, Jamaica, Japan, Jersey, North Korea, Latvia, Libyan Arab Jamahiriya, Liechtenstein, Lithuania, Luxembourg, Mali, Malta, Montserrat, Mozambique, Myanmar, Netherlands, New Zealand, Norfolk Island, Norway, Occupied Palestinian Territory, Pitcairn, Poland, Portugal, Romania, Saint Helena, Ascension and Tristan Da Cunha, San Marino, Senegal, Serbia, Slovakia, Slovenia, Somalia, South Georgia and the South Sandwich Islands, South Sudan, Spain, Sri Lanka, Sweden, Switzerland, Syrian Arab Republic, Trinidad and Tobago, Tunisia, Turks and Caicos Islands, Uganda, United KingdomAfghanistan, 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, Gibraltar, Greece, Guam, Haiti, Heard Island and McDonald Islands, Hungary, Iceland, Iran, Ireland, Isle of Man, Israel, Italy, Jamaica, Japan, Jersey, North Korea, Latvia, Libyan Arab Jamahiriya, Liechtenstein, Lithuania, Luxembourg, Mali, Malta, Montserrat, Mozambique, Myanmar, Netherlands, New Zealand, Norfolk Island, Norway, Occupied Palestinian Territory, Pitcairn, Poland, Portugal, Romania, Saint Helena, Ascension and Tristan Da Cunha, San Marino, Senegal, Serbia, Slovakia, Slovenia, Somalia, South Georgia and the South Sandwich Islands, South Sudan, Spain, Sri Lanka, Sweden, Switzerland, Syrian Arab Republic, Trinidad and Tobago, Tunisia, Turks and Caicos Islands, Uganda, United KingdomAfghanistan, 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, Gibraltar, Greece, Guam, Haiti, Heard Island and McDonald Islands, Hungary, Iceland, Iran, Ireland, Isle of Man, Israel, Italy, Jamaica, Japan, Jersey, North Korea, Latvia, Libyan Arab Jamahiriya, Liechtenstein, Lithuania, Luxembourg, Mali, Malta, Montserrat, Mozambique, Myanmar, Netherlands, New Zealand, Norfolk Island, Norway, Occupied Palestinian Territory, Pitcairn, Poland, Portugal, Romania, Saint Helena, Ascension and Tristan Da Cunha, San Marino, Senegal, Serbia, Slovakia, Slovenia, Somalia, South Georgia and the South Sandwich Islands, South Sudan, Spain, Sri Lanka, Sweden, Switzerland, Syrian Arab Republic, Trinidad and Tobago, Tunisia, Turks and Caicos Islands, Uganda, United KingdomAfghanistan, 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, Gibraltar, Greece, Guam, Haiti, Heard Island and McDonald Islands, Hungary, Iceland, Iran, Ireland, Isle of Man, Israel, Italy, Jamaica, Japan, Jersey, North Korea, Latvia, Libyan Arab Jamahiriya, Liechtenstein, Lithuania, Luxembourg, Mali, Malta, Montserrat, Mozambique, Myanmar, Netherlands, New Zealand, Norfolk Island, Norway, Occupied Palestinian Territory, Pitcairn, Poland, Portugal, Romania, Saint Helena, Ascension and Tristan Da Cunha, San Marino, Senegal, Serbia, Slovakia, Slovenia, Somalia, South Georgia and the South Sandwich Islands, South Sudan, Spain, Sri Lanka, Sweden, Switzerland, Syrian Arab Republic, Trinidad and Tobago, Tunisia, Turks and Caicos Islands, Uganda, United KingdomAfghanistan, 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, Gibraltar, Greece, Guam, Haiti, Heard Island and McDonald Islands, Hungary, Iceland, Iran, Ireland, Isle of Man, Israel, Italy, Jamaica, Japan, Jersey, North Korea, Latvia, Libyan Arab Jamahiriya, Liechtenstein, Lithuania, Luxembourg, Mali, Malta, Montserrat, Mozambique, Myanmar, Netherlands, New Zealand, Norfolk Island, Norway, Occupied Palestinian Territory, Pitcairn, Poland, Portugal, Romania, Saint Helena, Ascension and Tristan Da Cunha, San Marino, Senegal, Serbia, Slovakia, Slovenia, Somalia, South Georgia and the South Sandwich Islands, South Sudan, Spain, Sri Lanka, Sweden, Switzerland, Syrian Arab Republic, Trinidad and Tobago, Tunisia, Turks and Caicos Islands, Uganda, United KingdomAfghanistan, 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, Gibraltar, Greece, Guam, Haiti, Heard Island and McDonald Islands, Hungary, Iceland, Iran, Ireland, Isle of Man, Israel, Italy, Jamaica, Japan, Jersey, North Korea, Latvia, Libyan Arab Jamahiriya, Liechtenstein, Lithuania, Luxembourg, Mali, Malta, Montserrat, Mozambique, Myanmar, Netherlands, New Zealand, Norfolk Island, Norway, Occupied Palestinian Territory, Pitcairn, Poland, Portugal, Romania, Saint Helena, Ascension and Tristan Da Cunha, San Marino, Senegal, Serbia, Slovakia, Slovenia, Somalia, South Georgia and the South Sandwich Islands, South Sudan, Spain, Sri Lanka, Sweden, Switzerland, Syrian Arab Republic, Trinidad and Tobago, Tunisia, Turks and Caicos Islands, Uganda, United KingdomAfghanistan, 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, Gibraltar, Greece, Guam, Haiti, Heard Island and McDonald Islands, Hungary, Iceland, Iran, Ireland, Isle of Man, Israel, Italy, Jamaica, Japan, Jersey, North Korea, Latvia, Libyan Arab Jamahiriya, Liechtenstein, Lithuania, Luxembourg, Mali, Malta, Montserrat, Mozambique, Myanmar, Netherlands, New Zealand, Norfolk Island, Norway, Occupied Palestinian Territory, Pitcairn, Poland, Portugal, Romania, Saint Helena, Ascension and Tristan Da Cunha, San Marino, Senegal, Serbia, Slovakia, Slovenia, Somalia, South Georgia and the South Sandwich Islands, South Sudan, Spain, Sri Lanka, Sweden, Switzerland, Syrian Arab Republic, Trinidad and Tobago, Tunisia, Turks and Caicos Islands, Uganda, United Kingdom

From the client agreement, clause 2.3. A country missing from a translated page is not read as “served”.

Platforms and markets(60 of 104 of 104 platforms confirmed · 6 asset classes)

MT5
Proprietary NAGA app/web, MT4, MT5
cTrader
Proprietary NAGA app/web, MT4, MT5
Web terminal
Proprietary NAGA app/web, MT4, MT5
Mobile app
Proprietary NAGA app/web, MT4, MT5
Copy trading
Proprietary NAGA app/web, MT4, MT5
TradingView
Proprietary NAGA app/web, MT4, MT5
ClassCountMin spreadLeverage

Reviews(60 of 104 platform · 25% of the score)

4.2/ 5
Trustpilot rating
1,384
reviews
28.09
snapshot, 2026
5 star64%
4 star14%
3 star6%
2 star4%
1 star12%
SnapshotRatingReviews

Share of reviewers in South Africa: no data The platform does not publish it.

Topics in 1-star reviews (60 of 104 reviews, snapshot 28.09.2026)

Withdrawal delays41 · 25%
Verification (KYC)33 · 20%
Slippage22 · 13%
Support response19 · 11%
Other51 · 31%

Pros and cons(60 of 104 + 5, each tied to a figure above)

For
  • Raw round turn 6.20 USD vs South Africa median 9.20
  • FSCA licence FSP 48920, active on 01.10.2026
  • ZAR account; bank withdrawal 24 h, fee 0
  • Swap-free with no admin fee; ranked #1 of 30
  • One of 6 of 44 brokers that publish a withdrawal time
Against
  • Payouts axis 58 of 100, the lowest of six
  • Min deposit 100 USD vs 10 at Tidemark
  • E-wallet withdrawal time and fee not published
  • Group site advertises 1:1000, unavailable to South African residents
  • Gold round turn 9.80 USD; 3 brokers price it lower

Alternatives in South Africa(60 of 104 of 104)

Methodology(60 of 104 axes · formula v1.0)

Score = 2 + 3 × weighted mean of six axes scored 0–100. Range 2.0–5.0. An axis without data drops out and the remaining weights are renormalised; it is never scored zero or estimated. Group-wide figures never enter a South Africa score. Full methodology

AxisWeightWhat is measuredHalden

FAQ(60 of 104 questions)

Taxes for a South African resident(60 of 104 rules · as of 10.2026)

  • SARS taxes residents on worldwide income.https://naga.comdomain

Not tax advice. Check with SARS.

Verified · What changed · Sources(60 of 104 sources · 4 changes)

Verified01.10.2026
next review 01.01.2027
What changed
    Sources · precision