NAGA Brings CFDs to Telegram: From Onboarding to Trading Directly on the Social Medium

NAGA Group, which recently merged with CAPEX.com, now allows retail traders to access its platform directly from Telegram’s App Center with the launch of the “NAGA Everything Trading” app.

Integrating Trading Directly on Telegram

Announced today (Thursday), NAGA users can now onboard, complete know-your-customer (KYC) procedures, deposit funds, and trade financial instruments without leaving the Telegram app. According to NAGA, this feature will also assist in its global expansion.

“Bringing the first-ever integrated trading app to Telegram is not just a breakthrough for NAGA, it’s a transformational moment for our industry,” said Octavian Patrascu, CEO of The NAGA Group AG.

Telegram is indeed a popular app among traders. With over 950 million users globally, it hosts numerous groups of traders as well as signal providers.

NAGA pointed out that direct access to its platform from Telegram is “a gateway to a massive, previously untapped audience.” Furthermore, it will allow traders on Telegram to access both web and mobile versions of the NAGA app.

“With access to nearly one billion users, we now have an unprecedented opportunity to democratise financial markets on a scale that was once unimaginable,” Patrascu added. “This is a crucial step in our mission to make trading accessible to everyone while accelerating our business growth.”

The trading platform has further plans to introduce more features to the new Telegram-based initiative, including the addition of Social Trading with AutoCopy in upcoming monthly updates.

However, Telegram also remains one of the hot bed for financial scams. A joint survey by Finance Magnates and FXStreet found that 60.09% of traders who fell victim to scams on Telegram lost funds, making it the platform with the highest “success rate” for scammers.

Brokers and Social Media: A Perfect Partnership?

However, the integration of brokerages with social media platforms is not new. Earlier, eToro partnered with X (formerly Twitter); however, the scope of that partnership was limited to marketing efforts and did not enable access to trading activities.

Meanwhile, NAGA recently completed its merger with CAPEX.com, operated by Key Way Group, a deal that was announced in December 2023. The merger was strategic as the two brokers will benefit from their expertise and market reach, expecting to generate $250 million in revenue over the next three years while saving about $10 million annually.

The two platforms already have around 1.5 million registered users across more than 100 countries, and the roadmap of the merged entity aims to add over 5 million registered users by 2025/26.