IC Markets vs NAGA Forex Broker Comparison
A head-to-head comparison of IC Markets and NAGA across regulation, trading costs, platforms, and editorial scoring.
Score 4.7 / 5
4 bonusesTrue ECN routing with raw 0.0 pip spreads on majors plus commission, deep liquidity, and the cleanest MT4 / MT5 / cTrader stack we test.
VS
BaFin-regulated German-headquartered social trading broker with a purpose-built copy trading ecosystem - NAGA Trader merges a social feed, ranked traders, and one-click copy into a single platform.
Our Verdict
IC Markets winsClear Winner
IC Markets comes out ahead with an editorial score of 4.7/5 compared to NAGA's 4/5.
IC Markets
4.7/5
NAGA
4/5
Verdict by Trader Profile
Which broker wins for each type of trader, based on costs, safety, platforms, and editorial scoring.
Best for low cost trading
Recommended
IC Markets offers tighter spreads from 0 pips vs 0.7 pips for NAGA, reducing trading costs.
Best for safety & regulation
It's a tie
Both equally suited
Both brokers show an equally strong safety profile across regulation, fund protection, and client safeguards.
Best for active traders
Recommended
IC Markets has a cost edge: raw/ECN spreads, tighter spreads from 0 pips.
Best for platform choice
It's a tie
Both equally suited
Both brokers offer an equivalent platform selection with similar exclusive and proprietary options.
Best for beginners
Recommended
IC Markets edges out NAGA with a higher editorial score (4.7/5 vs 4/5), indicating a stronger overall experience for new traders.
IC Markets vs NAGA: Side-by-Side Forex Broker Comparison
Score
= highlighted score shows which broker leads in that category| Editorial score | 4.7/ 5 | 4.0/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 4.6 / 5▲ | 4.3 / 5 |
Fees & Spreads 30% weight | 5.0 / 5▲ | 3.8 / 5 |
Platforms & Tools 20% weight | 4.6 / 5▲ | 4.2 / 5 |
Customer Support 10% weight | 4.5 / 5▲ | 4.0 / 5 |
| Founded | 2007 | 2015 |
| Headquarters | Sydney, Australia | Hamburg, Germany |
| Min deposit | $200 | $50 |
| Spreads from | 0 pips | 0.7 pips |
| Commission / lot | $7/lot | N/A |
| Max leverage | 500:1 | 400:1 |
| Withdrawal fee | Free | Free |
| Regulators | FSCA ASIC CySEC | FSCA CySEC BaFin |
| Platforms | MetaTrader 4 MetaTrader 5 cTrader TradingView | MetaTrader 5 NAGA Trader |
| Active bonuses | ||
| Visit broker | Visit IC Markets | Visit NAGA |
IC Markets vs NAGA Forex Broker Pros & Cons
Pros
True ECN routing with raw 0.0 pip spreads
All three major platforms (MT4, MT5, cTrader)
Deep liquidity from 25+ tier-1 sources
Regulated by top-tier authorities (FCA, ASIC, CySEC)
Client funds held in segregated accounts
Negative balance protection
Investor compensation scheme coverage
No deposit fees
No inactivity fee
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app available
Advanced charting tools included
Transparent pricing with clear cost disclosure
24/5 live chat support
Phone support available
Multilingual customer support
Pros
BaFin and CySEC regulated - strong EU regulatory stack
NAGA Trader: purpose-built social trading with ranked auto-copy
950+ CFD instruments across multiple asset classes
MT5 available alongside proprietary platform
Client funds held in segregated accounts
Negative balance protection
Investor compensation scheme coverage
No deposit fees
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app available
Advanced charting tools included
Transparent pricing with clear cost disclosure
24/5 live chat support
Multilingual customer support
Cons
Not available to US residents
Higher minimum deposit than IG/OANDA
No proprietary platform
Cons
Inactivity fee triggers after just 90 days
Spreads not competitive with ECN brokers
Copy trading performance dependent on community quality
No raw spread account option
No phone support
IC Markets vs NAGA: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
3
IC Markets
criteria wins
1
NAGA
criteria win
Highlighted rows show where the two brokers differ
| Criteria | IC Markets | NAGA |
|---|---|---|
| Trust & Regulation | ||
| Top-tier regulator (FCA, ASIC, CFTC, etc.) | Pass | Pass |
| Segregated client funds | Pass | Pass |
| Negative balance protection | Pass | Pass |
| Compensation scheme (e.g. FSCS) | Pass | Pass |
| Fees & Spreads | ||
| Raw/ECN spreads available | Pass | Fail |
| No deposit fee | Pass | Pass |
| No inactivity fee | Pass | Fail |
| Transparent pricing page | Pass | Pass |
| Platforms & Tools | ||
| MT4/MT5 available | Pass | Pass |
| Proprietary platform | Fail | Pass |
| Mobile app | Pass | Pass |
| Advanced charting tools | Pass | Pass |
| Customer Support | ||
| 24/5 live chat | Pass | Pass |
| Phone support | Pass | Fail |
| Multilingual support | Pass | Pass |
IC Markets vs NAGA: Frequently Asked Questions
Based on our independent editorial scoring, IC Markets ranks higher with a score of 4.7/5 vs 4/5 for NAGA. The best choice still depends on your individual trading needs; IC Markets and NAGA may each suit different trader profiles.
IC Markets offers tighter spreads starting from 0 pips, compared to NAGA's spreads from 0.7 pips. Tighter spreads lower the cost per trade, particularly valuable for high-frequency and scalping strategies.
NAGA has a lower minimum deposit of $50, while IC Markets requires at least $200. This makes NAGA more accessible for traders with limited starting capital.
Both IC Markets and NAGA hold licences from top-tier regulators, indicating a high standard of regulatory oversight. Both are considered safe. Check each broker's specific regulatory bodies to confirm coverage in your jurisdiction.
For beginners: NAGA has a lower minimum deposit ($50), lowering the barrier to entry; both brokers offer negative balance protection. Also weigh up educational resources and customer support quality before deciding.
IC Markets offers maximum leverage of 500:1, while NAGA offers up to 400:1. Available leverage varies by account type, instrument, and jurisdiction. Higher leverage amplifies both potential profits and losses. Always use appropriate risk management.
IC Markets charges $7 per lot on commission-based accounts. Commission details for the other broker are not currently available. Check their website for up-to-date pricing.
IC Markets supports MetaTrader 4, MetaTrader 5, cTrader, TradingView and NAGA offers MetaTrader 5, NAGA Trader; both support MetaTrader 5; IC Markets exclusively offers MetaTrader 4, cTrader, TradingView; NAGA exclusively offers NAGA Trader.
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