HFM vs NAGA: licences compared
Side-by-side view of each broker's licences, regulator tiers and key facts. Remember that protection depends on which entity holds your account.
| Attribute | HFM | NAGA |
|---|---|---|
| Licence Score | 70Strong | 49Moderate |
| Strongest licence | 1 Tier 1 | 2 Tier 2 |
| Licences on record | 7 | 2 |
| 1 FCA United Kingdom | Licensed | — |
| 2 CySEC Cyprus | Licensed · Licence 183/12 | Licensed |
| 2 FSCA South Africa | Licensed · FSP 46632 | — |
| 2 DFSA United Arab Emirates | Licensed | — |
| 3 FSC (MU) Mauritius | Licensed | — |
| 3 CMA (Kenya) Kenya | Licensed | — |
| 4 FSA (Seychelles) Seychelles | Licensed | Licensed |
| Founded | 2010 | 2015 |
| Headquarters | Cyprus | Cyprus |
| Type | Forex & CFD broker | Multi-asset broker |
| Publicly listed | No | XETRA:N4G |
| Platforms | MT4, MT5, Proprietary | Proprietary, MT4, MT5 |
| Minimum deposit | No minimum | US$250 |
| Visit | Visit site | Visit site |
Frequently asked questions
Is HFM or NAGA better regulated?
HFM has the higher Licence Score (70 vs 49), based on the number and tier of licences, operating history and public listing.
Which regulators license both HFM and NAGA?
Both are matched to licences from CySEC and FSA (Seychelles).