Naqdi: FX and CFD accounts, mobile trading, cash rewards and entity scope

Naqdi markets forex and multi-asset CFDs through Standard, Premier and Elite accounts, MT5 and its own mobile app. The website identifies Naqdi Group (Pty) Ltd in South Africa and a separate UAE company. This profile covers the international retail offer; the UAE company’s Category 5 claim is not treated as permission to execute FX or CFD trades.[1][31]

Registration describes name and email collection, telephone verification and KYC completion. The Standard account’s lack of an account-opening deposit floor does not establish that every payment method accepts any amount. Premier and Elite thresholds need a written account offer. No account was opened or funded for this profile.[13]

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The larger 15,000-product figure used by the app is a marketing total. A current downloadable inventory and a mapping of every asset to each account/platform were not established, so that number is not used as a verified count.[10]

The iOS release history records biometric/Face ID login and push notifications in May 2026, followed by open-order and position display on charts. It also records local-currency functionality for selected countries. These are platform release claims, not proof that chart layouts, alerts, order templates or authentication state synchronize between MT5 and the Naqdi app.[12]

Elite’s explicit commission is USD 2.50 per standard lot on each side. One standard lot opened and closed therefore incurs USD 5 commission before spread, overnight charges and conversion. Its generic zero-commission heading conflicts with that detailed schedule; the account-specific USD 2.50 figure is the more precise published statement.[4]

The homepage advertises swap-free/Islamic availability for the account tiers. The dedicated conditions were not readable, so eligible instruments, any grace period, replacement administration charges and retrospective adjustments remain unconfirmed. Swap-free should not be interpreted as a complete zero-financing-cost promise.[1][18]

The trading-terms route returned document headings without operative clauses. An inactivity charge, dormant-account clock and automatic deactivation rule could not be verified. Inactivity, account closure and loss of access to old reports consequently remain separate unresolved terms.[15]

Naqdi describes itself as an execution-only STP broker that sends positions to liquidity providers using mark-to-market pricing. That is the company’s stated model; no independent fill-quality test or transaction-level routing evidence was obtained. The label does not eliminate slippage, failed execution or counterparty risk.[14]

The forex and index pages advertise leverage up to 1:500. They do not supply a complete schedule by symbol, account equity, position size or event period. A 1:500 ceiling corresponds mathematically to 0.2% initial margin where that rate applies; it should not be applied to every product.[5][6]

Standard publishes 30% stop-out, but the inspected Premier page does not repeat it. The threshold is therefore not generalized across tiers. The public execution-policy route did not expose maximum order sizes, minimum stop distances, pending-order expiry rules or a verified telephone-dealing fallback.[2][16]

The official Android listing advertises no deposit or withdrawal fees. The payment-conditions page did not expose a detailed fee or processing schedule, so that broad statement cannot establish external bank, currency-conversion or network costs. The same limitation prevents a verified withdrawal-time or refund-window comparison.[11][17]

The iOS app’s selected-country local-currency feature does not establish that accounts can hold multiple currencies without conversion. The applicable settlement currency, exchange-rate source, markup and conversion timing should be read from the payment confirmation; those details were not available in the inspected public policy.[12][17]

The introducing-broker page advertises USD 1 million capital protection per account and negative balance protection. It does not expose a current policy identifying the insurer, covered event, beneficiary entity, exclusions, aggregate limit or claims route. The headline is therefore reported as a company claim, not verified deposit insurance or a guarantee that trading losses will be reimbursed.[23]

The copy-service page advertises two-factor authentication and safety locks. Those statements do not establish the recovery identity checks or a withdrawal hold after a password, device or bank-detail change.[22]

The account FAQ describes an email-based portal password reset: select Forgot password, confirm the registered email and use the emailed reset link. It does not explain recovery when that email itself is inaccessible. Other FAQ headings were visible without their answers; they are not treated as verified procedures.[21]

The complaints-policy route could not be read. A complaint can be directed through the published contact channel, but acknowledgement deadlines, internal escalation and an account-specific external adjudication route were not established. A general support number is not verified authority to place or close trades during a platform outage.[19][16]

Naqdi CopyTrader advertises automatic replication and follower monitoring with adjustable settings and a fee. The public page does not give a complete performance-fee schedule, disconnect procedure, treatment of existing copied positions or responsibility for pending orders after stopping. Closing the app is not evidence that copying or exposure stops.[22]

The same page promotes AI market insights and strategy analysis. It does not identify a model, data licence, pricing tier or authority for an AI service to place discretionary trades. AI analysis, a follower’s copying instruction and autonomous trade authorization should be treated as different functions.[22]

Naqdi separately advertises institutional liquidity with its own product and margin terms. That offer is not evidence of a retail API with read-only, trading or withdrawal permissions. No documented retail API authorization matrix, client tax-export format or guaranteed post-closure statement access was established from the inspected service pages.[24]

The idle-cash terms apply only to USD balances and exclude corporate/institutional accounts. Daily accrual follows balance × 0.06 ÷ 365. For USD 10,000 held unchanged for 30 days, this produces about USD 49.32 before any tax, assuming the rate persists. Although the page calls the programme risk-free, its terms do not establish a statutory deposit guarantee or remove the broker-payment risk.[25]

Cashback is a share of eligible spread revenue, not 20% of traded notional: the page’s gold example returns USD 3,000 from USD 15,000 spread charges on USD 225 million volume. Trades lasting 60 seconds or less are excluded. Volumes aggregate across accounts, but the terms still restrict participation to the Naqdi app; other promotions cannot be combined except the deposit bonus. The advertised tiers differ by asset.[26]

The separate /cashback landing page promises up to 40% yet links the 10% welcome-deposit PDF. Those figures concern different or inconsistent presentations and are not combined here. The PDF allows bonus removal without notice and possible profit forfeiture for alleged abuse; removing margin credit can cause stop-out. Current approval of the exact offer is necessary.[28][27]

The app page gives a USD 250 minimum deposit for the referred friend and describes that friend’s USD 100 award as a trading bonus. The referral page does not specify the required volume or reward-crediting deadline. The friend’s bonus should not be described as the same withdrawable cash offered to the referrer.[29][10]

The accessible site footer and welcome-bonus document identify the South African company, but the current trading-terms body was unavailable. This limits verification of the exact contracting entity for each onboarding route. The separate UAE introduction/promotion role must not be used to imply that UAE execution permissions or protections govern a South African trading account.[15]