What is the Refer a Friend Campaign?
The Refer a Friend Campaign is offered by NAGA Markets Europe Ltd and allows eligible clients to earn Free Shares by referring new clients to NAGA. Both the Referrer and the Referee receive a Free Share for each successful referral.
The Campaign is effective from 1 June 2026 and applies exclusively to clients holding a Real Shares (DMA) account. A Real Shares (DMA) account is created by default upon successful registration and verification with the Company.
How It Works
Step 1: Share Your Referral Link
Log into your NAGA account and access your unique referral link here: 👉 Share Your Referral Link
Send it to your friends — they must use this link to register with NAGA. Referrals are tracked exclusively through this link, so registrations made without it will not count.
There is no limit on the number of friends you can invite — the more you invite, the greater your chances of reaching 10 qualified referrals.
Step 2: Your Friend Joins, Verifies, and Deposits
To qualify as a successful Referee, your friend must complete all of the following steps:
- a) Successfully register and be verified by the Company through your unique referral link
- b) Access the Campaign through a Real Shares (DMA) account (created by default upon registration and verification)
- c) Successfully register for the Refer a Friend Campaign
- d) Deposit at least $100 (USD) or equivalent in another currency directly into their Real Shares (DMA) account
⚠️ Deposits made into CFD accounts or any other account type do not qualify and will not count towards the Campaign.
Step 3: You Both Receive a Free Share
For each successful referral, both you and your friend receive one (1) Free Share. You can earn rewards for up to 10 successful referrals, meaning a maximum of 10 Free Shares in total.
What Is a Free Share?
A Free Share is a publicly-listed equity-based financial instrument from companies listed in the United States and/or the European Union, allocated randomly by the Company. If the Company is unable to provide the instrument, it may credit the monetary equivalent instead.
Free Share values are assigned based on a weighted probability structure:
| Free Share Value | Probability |
|---|---|
| $25 – $50 | 50% |
| $51 – $75 | 25% |
| $76 – $100 | 15% |
| Above $100 | 10% |
These values are indicative and may fluctuate due to market conditions. The value is determined based on the market price at the time the reward is credited.
Eligibility – Who Can Participate?
To participate as a Referrer, you must:
- Be an existing, verified client of NAGA Markets Europe Ltd
- Hold a Real Shares (DMA) account with a minimum balance of $100 (USD)
- Maintain this minimum balance continuously from the time of Campaign registration until all Successful Referrals are completed and Free Shares credited
- The Campaign is available to clients residing in countries where NAGA Markets Europe Ltd may offer cross-border services under its CySEC license. Certain countries may be excluded — for full details, please refer to the
Important: Minimum Balance Rules for Referrers
- If your DMA account balance falls below $100 due to a withdrawal, you lose eligibility for any pending (not yet completed) referral and permanently forfeit the right to make further referrals for the remainder of the Campaign.
- A re-deposit that restores the balance to $100 or above will not reinstate your eligibility.
- Free Shares and referrals already completed and credited before the withdrawal are not affected.
- Trading losses or market movements that cause the balance to fall below $100 do not trigger forfeiture — only withdrawals do.
When Will I Receive My Free Share?
- Free Shares are credited within 72 hours or 3 business days after all conditions are met. This period may be extended at the Company's discretion.
- The Free Share is allocated exclusively to the Real Shares (DMA) account.
Lock-Up Period (45 Days)
- Each Free Share is subject to a 45-day lock-up period from the date it is credited. During this period, the monetary value derived from the Free Share cannot be withdrawn.
- If you sell the Free Share before the lock-up expires, the proceeds from that sale remain locked until the 45 days are over.
- This restriction does not affect any other assets in your account.
- Your own deposited funds remain fully withdrawable at all times, subject to the minimum balance rules above.
⚠️ Lock-Up Reset for Multiple Referrals
If you receive more than one Free Share at different times, the lock-up period for all your Free Shares resets to 45 days from the date of the most recent Free Share allocation. This applies every time a new Free Share is credited.
Forfeiture – When Can You Lose Your Free Share?
- If a Referee withdraws funds from their DMA account and the balance falls below $100, both the Referee and the corresponding Referrer forfeit the Free Share for that specific referral.
- Trading losses or market movements that lower the Referee's balance below $100 do not trigger forfeiture — only withdrawals do.
- Withdrawals made by the Referrer from their own account do not affect any earned referrals or Free Shares.
Disqualification – What Can Get You Removed?
The Company may withhold or reclaim Free Shares if a client engages in any of the following:
- Violating or manipulating any of the Terms or Legal Documents
- Failing to log into the account for 3 consecutive months after receiving or selling the Free Share
- Reversing any qualifying steps
- Closing the account or withdrawing all funds immediately after receiving the Free Share
- Self-referrals
- Creating multiple or duplicate accounts to obtain rewards
- Providing false, misleading, or inaccurate information
- Any activity the Company considers abusive, manipulative, or fraudulent
The Company may also suspend accounts, void payments, or disqualify clients from this and any future campaigns if abuse or fraud is suspected.
Can I Refuse or Cancel a Free Share?
- You may refuse the Free Share within 24 hours of receipt by contacting support@naga.com
- You may also cancel the Free Share at the time of allocation. However, you will not receive a replacement share.
- If cancellation was unintentional, contact the Company to review your case.
Additional Important Information
- Free Shares are subject to limited availability — participation does not guarantee allocation if rewards are exhausted.
Need Help?
- General queries: support@naga.com
Full Terms & Conditions
For the complete legal terms, please refer to: Refer a Friend – Terms & Conditions