Naqdi Information
Founded in South Africa within the past year, Naqdi offers a wide range of trading products, including forex, indices, stocks, metals and commodities. The platform features three account types – Standard, Premier, and Elite to meet the needs of different traders. However, the lack of regulation is a significant flaw that can affect its credibility and safety. In addition, the history of less than a year of operation is also worrying.
Pros and Cons
Is Naqdi Legit?
Naqdi was established on July 9, 2010, and is registered with NameCheap, Inc. The domain is set to expire on July 9, 2030, and was last updated on June 19, 2024. It currently has a “clientTransferProhibited” status, which restricts its transfer to another registrar. There is no available information about Naqdi's registration details or corporate entity at the registration location. Furthermore, there is no confirmation of regulation by major authorities such as the FCA or ASIC.
What Can I Trade on Naqdi?
Naqdi offers five trading products, covering more than 60 forex pairs, more than 100 indices, more than 1,500 stocks, precious metals and a variety of commodities. Although ETF trading or mutual funds are not supported, you can still enjoy a variety of investment options overall.
Account Type
Naqdi offers three live trading account types for traders of different levels: the Standard account is ideal for newbies, with low minimum deposit requirements and basic technical analysis tools; The Elite account is designed for experienced traders, offering personalized support and high-quality liquidity. The Master account is aimed at high-volume traders who need advanced analytical tools and unlimited support. In addition, Naqdi offers a demo account with $100,000 in virtual funds for beginners to practice risk-free.
Naqdi Fees
Naqdi Spreads
When assessing the cost of an investment, it's important to recognize how these expenses affect returns. At Naqdi, spreads vary across account types, offering a variety of cost-effective options.
- Standard Account: Spreads start at 1.4 pips
- Premier Account: Spreads start at 0.9 pips
- Elite Account: Spreads start at 0.0 pips
In addition, the commission fee for the Elite account is $2.5 per standard lot. For other account types, there is no clear commission fee.
Non-Trading Fees
Naqdis accounts require no minimum deposit. This accessible entry point allows all investors, from beginners to seasoned traders, to begin trading easily.
Trading Platform
Naqdi uses the MT5 platform, which has a user-friendly interface and advanced features, so it is suitable for both desktop and mobile users. The platform can be installed on Windows, MAC, iOS, and Android devices.
Deposit and Withdrawal
Deposit Options
Naqdis Standard Account does not charge deposit or withdrawal fees, and there is no minimum deposit requirement for their trading accounts.
Besides, Naqdi offers a variety of deposit options to cater to different client preferences, ensuring convenience and accessibility.
Customer Service
Naqdi offers 24 hours a day, five days a week customer support in many ways. These ways include phone, live chat, and a contact form on the website. In addition, they also have physical offices in Dubai and South Africa so that customers can get help more conveniently.
The Bottom Line
Naqdi offers a wide range of trading products and account types, and there is no minimum deposit and zero trading commissions. However, due to the lack of regulation, as well as a short operating history, it can be unsettling for potential investors. The platform is suitable for traders who want to enter the market at a low cost and are looking for a diversified product offering.
FAQs
Is Naqdi Safe?
Naqdis unregulated status is a significant concern, because it lacks oversight from major regulatory bodies like the FCA or ASIC.
Is Naqdi Good for Beginners?
Yes, Naqdi is friendly for beginners. It provides a demo account for practice and offers a low minimum deposit requirement, zero commission on most accounts.
Is Naqdi Good for Day Trading?
Yes, users can enjoy low spreads and no minimum deposit requiredrequiredi inn the Elite account. In addition, the availability of the MT5 platform also provides good support for active trading strategies.
Risk Warning
Online trading involves considerable risk, so it may not be suitable for every client. Please make sure that you totally understand the risks involved and notice that the information above provided in this review may be subject to alteration owing to the constant updating of the company's services and policies.
