NAGA Group Hits Record €22 Billion in April Trading Volume

Hamburg-based Naga Group (Xetra Xetra Xetra is an international securities trading venue, operated by the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse). An overwhelming majority of turnover on German exchanges goes through Xetra, making it one of the most important venues in the local market.Xetra operates as the reference market for exchange trading in German shares and exchange-traded funds (ETFs). The price fixing on Xetra is conducted via defined and transparent rules. Despite its importance to the German market, Xetra Xetra is an international securities trading venue, operated by the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse). An overwhelming majority of turnover on German exchanges goes through Xetra, making it one of the most important venues in the local market.Xetra operates as the reference market for exchange trading in German shares and exchange-traded funds (ETFs). The price fixing on Xetra is conducted via defined and transparent rules. Despite its importance to the German market, Xetra Read this Term: N4G) released a few of its trading metrics for April, reporting a record €22 billion (around $26.65 billion) in monthly trading volumes. Further, the broker opened 40,000 new trading accounts in the month, which is a 50 percent monthly surge.

These figures came after the social trading-focused FX and CFDs broker ended an excellent quarter with record performance. As Finance Magnates reported earlier, the sales of the company jumped by 69 percent in Q1 to $13.7 million. Additionally, the total trading volume of the quarter crossed $70 billion, surging 155 percent from the numbers posted in the first quarter of the previous year.

“In contrast to our peers, NAGA is accelerating its growth,” NAGA's Founder and Chief Executive, Benjamin Bilski said in a statement. “We remain bullish on our targets, and by keeping this pace Q2 will be another record growth quarter, especially in terms of transactions and volumes.”

“Our retention and acquisition metrics are healthy, we keep on improving our platform and customer experience every single day. Also, the engagement ratios and the copy activity are extremely promising enabling us to further build competitive advantage with our unique Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term ecosystem.”

Strengthening Business and Management

NAGA has been posting impressive trading numbers for a while now. Moreover, the German company secured $30 million in financing to strengthen its presence in the industry.

Meanwhile, the company confirmed the reappointment of its board of directors: Bilski as the Group CEO, and Michalis Mylonas and Andreas Luecke as Group Executives for another five-year term.

“We are pleased with the trust in our Management Team, especially by our major investor, FOSUN. We are ready for many more exciting years at NAGA as there is huge growth potential still in front of us!” Bilski added.