NAGA Signs Agreement with Yorkville Advisors and Reports Record Growth

NAGA Group AG announced on Tuesday that it has reached an agreement with US Fund Yorkville Advisors, following the broker's intention of raising up to 30 million dollars over the next three years.

In the official announcement, the broker also released its preliminary results for February 2021, showing a rapid growth across all its business metrics.

Specifically, NAGA recorded an even more significant increase in new registrations. 37,000 new accounts were opened with NAGA in February 2021. At the same time, it also passed the milestone of 1 million real money transactions with a trading volume of over EUR 20 billion for the month.

As the demand for NAGA's flagship feature “Copy Trading” soars, the broker witnessed a huge growth compared with the previous year. 

In February, over 560,000 copied trades were executed, indicating a MoM decrease of 75%.

New registrations grew by 45% and the number of real money transactions increased by over 38% compared to January.

User registration up 700 percent year-on-year from 80,000 reported back in February 2020.

Transactions and trading volume increased by 230% and 197% respectively compared to February 2020.