NAGM: FSA licence SD146

It is a genuine oddity worth understanding before you deposit. The only office address NAGM publishes is Unit 803, 213 Miller Street, North Sydney NSW 2060, and its contact phone number is Australian. The same website states that Australian residents are not served. The operating company holds an Australian Business Number, but it holds no Australian financial services licence, which is what would be required to serve Australian retail clients. So the Australian presence is an administrative and contact footprint, not a regulated one, and it should not be read as Australian oversight of your account.

Possibly not. NAGM's footer states it does not offer services to residents of the United States, Canada, the United Kingdom, European Union countries, Iran, Afghanistan, Belgium, Hong Kong, Australia, New Zealand, Israel, Japan, Singapore, Malaysia or India, and the list is prefaced with 'including but not limited to', so it is not exhaustive. Notably, the registration form itself asks for no country of residence at all, so the restriction is enforced after signup rather than at it.

Spreads are variable and advertised from 1.2 pips on major currency pairs, with no commission charged on the Standard Account. The published product specification shows indicative spreads of 12 points on EURUSD, 16 on AUDUSD, 17 on GBPUSD and 24 on USDJPY. Margin is quoted at 0.5%, consistent with the 1:200 default leverage.

The range is modest. NAGM advertises over 27 currency pairs and 14 CFD derivatives, covering indices, energy and precious metals. Cryptocurrency is not offered, and neither are individual shares or bonds. The minimum trade size is 0.01 lot.

NAGM does not publish a withdrawal processing time. Its deposits and withdrawals page gives timings for deposits only, and states no minimum or maximum withdrawal amount. Because the broker's payment stack is built around UnionPay, Alipay, WeChat Pay and wire transfer, a realistic expectation for a wire withdrawal is the same one to three business days quoted on the deposit side, but that is not a commitment the broker has made in writing.

NAGM lists four channels, all quoted in USD: UnionPay, Alipay and WeChat Pay, each described as an instant transfer, and wire transfer at one to three business days. The broker states it charges no fee on either deposits or withdrawals, while noting that your own bank or an intermediary bank may charge. It also refuses third-party payments in both directions, so funds must move to and from a bank account in your own name.

Both MetaTrader 5 and MetaTrader 4. MT5 is the platform NAGM leads with. Both are available as desktop builds for Windows and Mac, as Android and iOS mobile apps, and through a browser-based terminal. The broker also offers Autochartist and a PAMM/MAM facility for managed accounts.

The default leverage on the NAGM Standard Account is 1:200. The broker also lists 1:100 and 1:400 as optional settings, so 1:400 is the maximum available. Higher leverage magnifies losses as well as gains, and NAGM offers no negative-balance protection guarantee that a client could rely on.

USD 500. That is the minimum for the NAGM Standard Account, which is the only live account the broker offers, and the account is denominated in USD only. It is a high entry point relative to the level of client protection on offer.

We found no evidence that NAGM is a scam, and no confirmed pattern of withheld withdrawals. It is a real, registry-confirmed company running a real MetaTrader offering. What it is, on the evidence available, is a high-risk unverified broker: its only permissions are offshore and low-tier, one of the two numbers it presents as a licence is in fact a company registration number, and neither permission was confirmed against the issuing regulator's own register. Treat it as unproven rather than dishonest, and do not commit money you cannot afford to lose.

The website footer names NAGM (V) LIMITED, an International Company incorporated in the Republic of Vanuatu under company number 41699, with a registered office given as First Floor, ICOUNT House, Kumul Highway, Port Vila. The Vanuatu registry confirms the company exists, is currently Registered, and was registered on 4 June 2019. The registry also shows it has traded under two earlier names, VBEST MARKETS LTD and NAG MARKETS (PACIFIC) LIMITED. NAGM does not disclose its ultimate owners or directors on its website.

Only offshore, and only in the weakest tier. NAGM presents a Seychelles Derivatives Trading License numbered SD146 in the name of NAGM(S) Limited, and a Vanuatu Forex Trading License numbered 41699 in the name of NAGM (V) Limited. There is no onshore licence anywhere in the group. Two caveats matter. Neither permission was confirmed against the issuing authority's own register in this review, so the claim should be treated as unverified. And the Vanuatu number 41699 is the same number as the company's registration number on the Vanuatu companies register, meaning that figure identifies a registered company rather than a separate supervisory licence.