A verified NAGA client says the broker restricted an account containing more than $80,000 in trading profit, then cited bonus terms the trader says were neither requested nor shown during registration. The client also says attempts to contact chief executive Octavian Patrascu directly ended with the account being blocked.
Another trader reported that an automatically applied $1,800 bonus expired and triggered the removal of $59,800 from the account. Independent monitoring logged 10 complaints against NAGA during a three-month period in 2025. These are client allegations, not findings by CySEC or a court, and NAGA's response to the specific cases was not included in the source material.
NAGA's Earlier CySEC Settlement
CySEC announced a €150,000 settlement with Naga Markets Europe Ltd on 29 December 2023 over possible breaches during 2021 and 2022. The review covered authorization conditions, client suitability and appropriateness assessments, reporting, best execution and CFD product-intervention rules. NAGA paid the settlement; it did not disclose findings on the later bonus complaints.
Why Written Bonus Consent Matters
A promotional credit can carry turnover, expiry and withdrawal conditions. Traders should save the exact terms displayed at registration, record whether they opted in and reject any bonus whose effect on principal or profit is unclear.
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Licenses do not answer the consent question
NAGA's genuine licenses and established operation matter, but they do not resolve whether these traders knowingly accepted the terms later used against their balances.
About NAGA
NAGA is a social-trading and multi-asset brokerage group. Naga Markets Europe Ltd holds a CySEC authorization, and the group also operates through a Seychelles-licensed entity.
Frequently Asked Questions
Is NAGA regulated?
Yes. Naga Markets Europe Ltd is authorized by CySEC, and a group entity holds a Seychelles license.
Has NAGA been fined?
CySEC reached a €150,000 settlement with Naga Markets Europe in December 2023 over possible compliance breaches.
What is the NAGA bonus complaint pattern?
Traders allege bonuses were applied without clear consent and later cited when profits or withdrawals were restricted.
Compare NAGA
See NAGA's profile and regulated alternatives in our Best Forex Brokers in 2026 directory.