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Retail FX
NAGA and CAPEX.com Merger Receives Regulatory Greenlight
2024-07-09T09:02:43.659+02:00
The two companies expect to close the merger by the end of August.
They expect to generate $250 million in revenue over the next three years.
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Retail FX
NAGA Slashes Staff by 40% amid Mounting Losses of €61M in 2023
2024-07-01T08:44:13.107+02:00
The company's revenues shrank by 32% to €40 million.
However, the broker is trying to focus on the pros: positive EBITDA, higher volumes, and cost-cutting.
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Retail FX
NAGA and CAPEX.com Merger Gets Shareholders’ Nod: 2 New Licenses in Pipeline
2024-04-22T11:00:27.189+02:00
As many as 99.81 percent of the NAGA shareholders voted for the merger.
The CEO, Octavian Patrascu, is envisioning a "New NAGA" with the merger.
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Executives
NAGA Welcomes Former Tickmill Leader Loukia Matsia as New Head of Compliance
2024-04-17T18:58:59.043+02:00
Matsia spent over 8 years overseeing compliance at Tickmill.
She held the position of Head of Administration and HR at CommexFX.
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Executive Moves
Ben Bilski Leaves NAGA Group Only 3 Months after Merger with Capex.com
2024-03-18T07:29:28.521+02:00
He founded NAGA in 2015 and was the CEO until June 2023.
Recently, he held the position of NAGA’s Chief Information Officer.
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Retail FX
NAGA Achieves EUR 45.5 Million in Revenue and Highest-Ever EBITDA
2024-01-09T15:13:26.244+02:00
In 2023, the company saw growth of 132,000 new accounts and over 9.2 million trades.
The firm recently announced a merger with Capex.com, accompanied by a cash injection of $9 million.
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Retail FX
Naga Markets Settles with CySEC for €150K over Violations
2023-12-29T15:14:55.291+02:00
The company was sanctioned by CySEC for non-compliance in several areas.
The retail brokerage has already paid the settlement amount.
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Retail FX
NAGA and Capex.com to Merge, Projecting $250M Revenue
2023-12-19T12:38:51.948+02:00
Capex.com's CEO invests $9 million in NAGA, becoming the Group CEO.
The merger should be finalized before the second quarter of 2024.
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Retail FX
NAGA's Earnings Exceed Initial Estimates in H1 2023, Final Report Indicates
2023-12-13T14:57:55.132+02:00
The company reported preliminary results five months ago.
However, as the full report shows, the revenue was underestimated by several million euros.
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Damian Chmiel
Retail FX
NAGA's EU Customers Brought 90% FY22 Revenue: Losses Mounted to €37M
2023-11-06T11:04:52.190+02:00
The revenue of the brokerage group for the year came in at EUR 57.5 million.
Its marketing and advertisement expenses declined to EUR 28.3 million.
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Retail FX
NAGA Transforms €4.2M Loss into €4.2M Profit as First-Time Deposits Soar by 100%
2023-10-05T11:49:03.224+02:00
Retail brokerage increased the number of active accounts to 20,400.
In addition, the average value of the first deposit rose 105%.
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Retail FX
NAGA Reports 22% Jump in Active Traders in H1 2023
2023-07-11T15:51:10.679+02:00
The company saw an increase of 22% in active traders.
Reported trading volume also rose to EUR 69 billion.
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Retail FX
Why I Gave Up My CEO Role to Become CIO: NAGA's Founder Ben Bilski
2023-07-10T22:45:21.372+02:00
NAGA's vision remains to build an all-in-one platform, says Bilski.
The new Group CEO: "We have owned our decisions in the past three years."
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Retail FX
NAGA Successfully Secures $8.2m Funding and Promotes New CEO
2023-06-19T14:33:54.585+02:00
Milonas is taking the role of the company's Chief Executive Officer.
NAGA also informed about the closed funding round that begun in April.
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Retail FX
NAGA Seeks to Raise $8.2M in Convertible Bond
2023-04-17T15:09:45.343+02:00
Upon full conversion, the bonds will raise NAGA's current share capital by 7.7%.
NAGA Group "incurred significant losses last year."
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Retail FX
NAGA’s Revenue Drops 36% in Q1 2023 despite Growth in Active Users
2023-04-04T18:15:41.130+02:00
The neo-brokerage's revenue jumped 63% YoY to EUR 18M in Q1 2022.
The volume worth EUR 37 billion was traded by NAGA users in Q1 2023.
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Technology
With Only 3% of Total Traded Volume, Is Social trading "Dead?”
2023-03-04T22:02:14.294+02:00
Although social trading was introduced over 15 years ago, it doesn't dominate retail trading.
Over one-third of brokers offer it to retail clients.
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Retail FX
Germany's NAGA Group Reports Profit for First Few Weeks of 2023
2023-02-09T16:27:52.062+02:00
The German fintech group made a profit of about €1.5 million YTD.
The Group's revenue declined 6% to €52 million in 2022.
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Retail FX
NAGA Discusses Possible Merger with Unnamed 'Multi-Country' Broker
2023-01-19T18:38:44.580+02:00
The possible merger is expected to be completed by Q4 2023.
The Group recently secured a Seychelles license.
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Executives
NAGA Hires Eurotrader’s Matthew Kent as Institutional Sales Director
2022-11-23T23:22:16.952+02:00
Kent held the same position at Eurotrader for over two years.
NAGA Group received a Seychelles license last month.
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Retail FX
NAGA Gains Seychelles License to Accelerate Global Presence
2022-10-13T07:12:45.832+02:00
The company intends to enter the Brazilian crypto market.
It now focuses on improving operational efficiency.
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Analysis
Analysis
Analysis
Will Crypto Tycoons Threaten Traditional Brokers?
2022-08-25T14:59:28.821+02:00
There has been enormous growth in the cryptocurrency industry.
Crypto exchanges may want to expand into equities and CFDs.
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Executive Moves
Naga Hires Stelios Eleftheriou as Naga Pay and Naga X Managing Director
2022-07-11T13:17:17.557+02:00
He has extensive experience working in the trading industry.
Naga is extremely bullish on its crypto business.
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Executive Moves
NAGA Promotes Antonis Monogios to Head of Dealing
2022-06-06T21:35:58.444+02:00
Monogios previously served as the Head of Portfolio Management.
He worked for EverFX and Magic Compass.
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Felipe Erazo
Executive Moves
Pawel Cichowski Becomes New Head of Dealing Department at XBO
2022-06-03T19:25:00.000+02:00
He worked for NAGA as the Head of Dealing.
Cichowski was previously employed for FxPro Group.
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Felipe Erazo
See more
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