NAGA Estimates 40% Drop in 2022 Annual Trading Volume of €150 Billion

NAGA Group, an innovative fintech company that has developed a socially enhanced financial system, posts its estimated annual trading volume of €150 billion in 2022, 40% down compared to the last year's €250 billion.

NAGA's 2022 estimated figures at a glance:

• Active accounts of 29,000 (2021: 26,000)

• The number of transactions reached 8 million (2021: 10 million)

• ​Revenue per trade of EUR 6.3 (2021: EUR 4.7)

• The number of copy trades reached 3.5 million (2021: 4.8 million)

• Copy fee income reached EUR 3.1 million (2021: EUR 4.7 million)

• ​NAGA operated at a loss in 2022, with the company estimating expenses totaling €59 million for the year.

Last month, NAGA  has releases its interim results for six months ended 30 June 2022, showing solid growth across many metrics. The broker reported consolidated revenues of EUR 35.0 million​ for the period, compared EUR 23.2 million in the corresponding period in 2021. The company revealed a total output of EUR 38.9 million, increased from the previous year's EUR 24.5 million.

By year-end 2021, NAGA had exited the UK - NAGA's best market to date and also the largest CFD market in the world. In 2023, the company plans re-enter into the UK market and reactivate their existing customer base by Q2 2023.