On January 13, NAGA Group, a German fintech social trading focused online broker, announced its 2021 financial results, indicating that the company exceeded its revenue guidance for 2021. NAGA stated that its consolidated group revenue more than doubled to about €55.3 million compared to what was reached in the previous year (2020: €24.4 million). The impressive growth was boosted by record EBITDA on strong quarter results that reached €12.8 million in 2021, which doubled compared to the previous year (2020: €6.6 million). Furthermore, the company disclosed that more than 277,000 new accounts joined its
trading platform
Trading Platform
In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools.
In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools.
Read this Term, an increase of 128% compared to last year (2020: 120,00 new accounts).
Besides that, NAGA said that, in 2021, its traded volume reached €250 billion for the first time, which means that the firm doubled its metric compared to 2020 (€121 billion). The company also mentioned that it traded more than 10 million real-money transactions, an increase of 60% compared to 2020 (6.3 million). The firm further revealed that its strongest growth metric was the copy-trading activity. In 2021, the company saw more than 4.8 million trades copied via its unique Auto Copy tool, which tripled what was achieved in 2020 (1.7 million copied trades).
Apart from that, NAGA also announced a launch of its new social trading platform that focuses on cryptocurrencies. The crypto platform (NAGAX) will provide a unique Web3 social trading experience, futures and derivatives exchange, and a spot exchange supporting more than 700 tradable assets. The platform will also offer a secured cryptocurrency wallet, an inbuilt NFT platform, a staking platform, a launchpad for promising projects, and educational video content in the learn-platform against rewards. Moreover, the platform will offer a unique “Web3 Social Investing Feed” which automatically converts each user generated content into an NFT that can be monetized.
Benjamin Bilski, Founder and CEO of NAGA, talked about the development and said: “2021 was a fantastic year for NAGA. We have delivered another record year and achieved several milestones along the way. The investments in growth and the continuous acceleration of our marketing activities have paid off. Additionally, we have launched great products such as NAGA Pay, improved our platform and welcomed strategic investors to our cap table. 2022 will be another eventful year. We expect to be among the fastest growing neo-brokers, by gaining further market share in existing markets but also by expanding into new markets, while also increasingly focusing on the crypto and DeFi space with our brand-new platform NAGAX”.
Why Copy Trading Platforms Are Rushing to Embrace Cryptocurrencies
The development by Naga Group to extend its product offerings into crypto services comes at a time when an increasing number of copy trading platforms are rushing to capitalize on the cryptocurrency boom. This has been triggered by retail investors who are more eager than ever to participate in the crypto boom, especially as
cryptocurrencies
Cryptocurrencies
By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities.
By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities.
Read this Term outperform commodities and stocks. From digital assets trading to NFTs investing, new and seasonal investors are rushing to embrace crypto assets trying to not miss out on the potential returns. Industry analysis shows that new customers are nervous to trade their own portfolios because of the volatility and risky nature of crypto assets and stocks. As a result, social trading communities including Reddit and Discord forums such as ‘Satoshi Street Bets’ and ‘Wall Street Bets,’ are working on providing a level of comfort to the new investors.
Copy trading platforms such as Zignaly, Shrimpy, eToro, Equiti Group, and now NAGA Group, among others, are capitalizing on this trend. Such platforms have built businesses to leverage the social predisposition of humans to lower the barrier of entry of crypto trading. These platforms are trying to tap into the innate needs of human beings to operate as part of a community and look towards others for direction and guidance. Such platforms are working to democratize trading and make lucrative strategies available to new investors who can automatically mimic the trades of more experienced traders. This allows new investors to shorten the steep learning curve, while still maintaining full control of their accounts.
On January 13, NAGA Group, a German fintech social trading focused online broker, announced its 2021 financial results, indicating that the company exceeded its revenue guidance for 2021. NAGA stated that its consolidated group revenue more than doubled to about €55.3 million compared to what was reached in the previous year (2020: €24.4 million). The impressive growth was boosted by record EBITDA on strong quarter results that reached €12.8 million in 2021, which doubled compared to the previous year (2020: €6.6 million). Furthermore, the company disclosed that more than 277,000 new accounts joined its
trading platform
Trading Platform
In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools.
In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools.
Read this Term, an increase of 128% compared to last year (2020: 120,00 new accounts).
Besides that, NAGA said that, in 2021, its traded volume reached €250 billion for the first time, which means that the firm doubled its metric compared to 2020 (€121 billion). The company also mentioned that it traded more than 10 million real-money transactions, an increase of 60% compared to 2020 (6.3 million). The firm further revealed that its strongest growth metric was the copy-trading activity. In 2021, the company saw more than 4.8 million trades copied via its unique Auto Copy tool, which tripled what was achieved in 2020 (1.7 million copied trades).
Apart from that, NAGA also announced a launch of its new social trading platform that focuses on cryptocurrencies. The crypto platform (NAGAX) will provide a unique Web3 social trading experience, futures and derivatives exchange, and a spot exchange supporting more than 700 tradable assets. The platform will also offer a secured cryptocurrency wallet, an inbuilt NFT platform, a staking platform, a launchpad for promising projects, and educational video content in the learn-platform against rewards. Moreover, the platform will offer a unique “Web3 Social Investing Feed” which automatically converts each user generated content into an NFT that can be monetized.
Benjamin Bilski, Founder and CEO of NAGA, talked about the development and said: “2021 was a fantastic year for NAGA. We have delivered another record year and achieved several milestones along the way. The investments in growth and the continuous acceleration of our marketing activities have paid off. Additionally, we have launched great products such as NAGA Pay, improved our platform and welcomed strategic investors to our cap table. 2022 will be another eventful year. We expect to be among the fastest growing neo-brokers, by gaining further market share in existing markets but also by expanding into new markets, while also increasingly focusing on the crypto and DeFi space with our brand-new platform NAGAX”.
Why Copy Trading Platforms Are Rushing to Embrace Cryptocurrencies
The development by Naga Group to extend its product offerings into crypto services comes at a time when an increasing number of copy trading platforms are rushing to capitalize on the cryptocurrency boom. This has been triggered by retail investors who are more eager than ever to participate in the crypto boom, especially as
cryptocurrencies
Cryptocurrencies
By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities.
By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities.
Read this Term outperform commodities and stocks. From digital assets trading to NFTs investing, new and seasonal investors are rushing to embrace crypto assets trying to not miss out on the potential returns. Industry analysis shows that new customers are nervous to trade their own portfolios because of the volatility and risky nature of crypto assets and stocks. As a result, social trading communities including Reddit and Discord forums such as ‘Satoshi Street Bets’ and ‘Wall Street Bets,’ are working on providing a level of comfort to the new investors.
Copy trading platforms such as Zignaly, Shrimpy, eToro, Equiti Group, and now NAGA Group, among others, are capitalizing on this trend. Such platforms have built businesses to leverage the social predisposition of humans to lower the barrier of entry of crypto trading. These platforms are trying to tap into the innate needs of human beings to operate as part of a community and look towards others for direction and guidance. Such platforms are working to democratize trading and make lucrative strategies available to new investors who can automatically mimic the trades of more experienced traders. This allows new investors to shorten the steep learning curve, while still maintaining full control of their accounts.
Source: https://www.financemagnates.com/fintech/naga-group-revenue-hits-553-million-for-fiscal-year-2021/