The NAGA Group

What The NAGA Group does

The NAGA Group AG is a German fintech company founded in 2015 and publicly listed on the Frankfurt Stock Exchange under ticker N4G0. It operates a multi-asset retail trading and social investing platform known as NAGA SuperApp, offering access to more than 4,000 instruments including CFDs on forex, stocks, indices, commodities, ETFs, futures and 30+ cryptocurrencies, alongside 3,000+ commission-free real stocks. The platform is distributed across browser (NAGA Web Trader), iOS, Android, MetaTrader 5 and a Telegram Mini App, and is regulated by CySEC in the EU (NAGA Markets Europe Ltd), by the FSA in Seychelles (NAGA Capital Ltd) for international clients, and under MiCA via NAGA X Ltd for EU crypto-asset services.

The company's core differentiator is a built-in social trading layer: an interactive news feed (NAGA Feed), leaderboards, an Autocopy engine that automatically replicates Lead Trader positions in real time, and a tiered VIP Lead Trader program (Iron to Crystal) that pays Copy Premiums of $0.12–$1.00 per profitable copied trade. Revenue is generated primarily through spreads and commissions on CFD/forex trading, with secondary streams from Copy Premium fees, overnight swap charges and a referral program. Customer acquisition is product-led and community-led: 2.6M+ registered users, self-serve onboarding, and a Borussia Dortmund crypto sponsorship alongside Coinbase and BlockDAG.

Following the operational integration of the CAPEX Group merger in 2025, the 10:1 reverse stock split effective December 16, 2025, and MiCA authorization secured in 2026, NAGA recorded its first profitable first quarter in history (€0.5M net profit in Q1 2026). Audited 2025 revenue was €62.4M with €3.7M EBITDA, and management guides 2026 revenue of €68–75M and EBITDA of €10–15M, supported by an AI-first operating model and the Telegram Mini App as a new acquisition surface.

Name

The NAGA Group

Legal name

The NAGA Group AG

Website

https://naga.com

Company type

Public

Founded year

2015

Operating status

Operating

Headcount range

251–500 employees

Ownership category

akta.pro rank

Product category

Online Social Trading Platform

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231), Commodity Contracts Intermediation (523160), Commodity Contracts Intermediation (52316), Securities and Commodity Exchanges (52321)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Commodity Contracts Brokers & Dealers (6221), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Multi-Asset Copy/Social Trading Platforms (FSAFAEAL)

akta.pro secondary industries

Copy Trading, Social Trading & Automated Trading Platforms (FSADAAAK), FX Electronic Trading Platforms (Spot/Forwards/Swaps) (FSAFANAC), Multi-Currency Accounts, Wallets & FX Management (Consumer/SME) (FSAGAKAF)

Keywords

• Social trading platform
• Retail forex trading
• Copy trading services
• Crypto CFD trading
• Multi-asset brokerage

Headquarters

HQ city

Hamburg

HQ country

Germany

HQ region

Europe

Offices4 records

Markets served

GTM type

B2C

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Spreads and commissions on CFD and forex trading: NAGA earns revenue primarily through spreads (the difference between buy and sell prices) on 4,000+ CFD instruments including forex, stocks, indices, commodities, ETFs, futures, and crypto. This is the dominant revenue stream, with spreads compressed in low-volatility market conditions.
2. Copy Premium fees (Lead Trader program): Lead traders earn Copy Premiums ($0.12–$1.00 per copied trade depending on VIP level and asset class) when their trades are copied and closed profitably. NAGA retains a portion of these fees as platform revenue from the premium structure.
3. Real stocks commission-free offering: NAGA offers 3,000+ real stocks with 0% commission. While direct commission revenue is zero, this offering drives client acquisition and cross-selling of other fee-generating products.
4. Swap/overnight fees: Fees charged for holding positions overnight (except Crypto One BUY positions). These fees vary by instrument and contribute to revenue on leveraged positions held beyond daily market close.
5. Referral program payments: NAGA pays referral rewards (up to $125 per successful referral) funded from client trading activity and deposit thresholds, serving as a customer acquisition cost.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels9 records

Core offering

NAGA operates a multi-asset social trading and investing platform (the NAGA SuperApp) giving individual traders access to more than 4,000 instruments including CFDs on stocks, forex, indices, commodities, ETFs, futures and cryptocurrencies, plus commission-free real stocks. The platform integrates a built-in social network with copy trading (Autocopy), a Telegram Mini App, MetaTrader 5 access, educational content (NAGA Academy) and payment services (NAGA Pay). Revenue is generated primarily through spreads on trades, overnight swap fees, and copy-trading premiums paid by followers to lead traders.

Product overview

The NAGA Group operates as a German fintech company offering NAGA SuperApp, a unified all-in-one financial platform for trading, investing, and social collaboration. The platform architecture includes multiple access channels: NAGA Web Trader (browser-based platform), NAGA iOS App, NAGA Android App, NAGA Telegram Mini App, and MetaTrader 5 integration. Core trading products span Forex (40+ currency pairs), Stock CFDs, Real Stocks (2000+), Indices, ETFs, Commodities, Futures, and Cryptocurrencies (30+). Social trading features include NAGA Autocopy for automated strategy replication, NAGA Social Trading for community engagement, and NAGA Leaderboard for trader discovery. Additional offerings encompass Crypto One (crypto CFDs with no overnight fees), NAGA Pay (payment/IBAN services), NAGA Academy (education), and a Refer a Friend program. The company recently completed the CAPEX Group merger and secured MiCA authorization for EU crypto operations.

Differentiator

Problem solved

Functional benefit

Brands

• NAGA Web Trader: Browser-based trading platform offering access to 4000+ instruments with social trading features, price alerts, and market news.
• NAGA Autocopy
• Crypto One
• NAGA Pay
• NAGA Academy
• NAGA SuperApp

Products and services

• NAGA SuperApp (Everything Trade) All-in-one proprietary financial platform combining trading, investing, social and payment capabilities for individual retail traders and investors, accessible across web, iOS, Android, MT5 and Telegram.
• NAGA Web Trader Browser-based trading platform giving retail traders access to 4,000+ instruments, social trading, Autocopy, price alerts, TradingView charts and market news.
• NAGA iOS App Full-featured iOS mobile trading application for iPhone and iPad enabling users to trade, auto-copy investors, and access NAGA Messenger.
• NAGA Android App Full-featured Android mobile trading application with NAGA Radar proximity discovery, trading, auto-copy and NAGA Messenger.
• MetaTrader 5 (MT5) Integration Industry-standard MetaTrader 5 trading platform integrated with NAGA, providing advanced charting, algorithmic trading and access to real stocks, forex and CFD futures.
• NAGA Telegram Mini App Trading interface embedded in Telegram enabling users to trade crypto, stocks, forex and access Autocopy directly within the messaging app with gamified onboarding rewards.
• NAGA Social Trading Community-centric social trading platform allowing users to connect with, follow and collaborate with other traders through an interactive news feed and social features.
• Crypto One Crypto CFD product offering 30+ cryptocurrencies with no overnight fees on long positions, 1:1 real price exposure, $1 minimum and 24/7 trading access.
• Forex Trading Foreign exchange CFD trading offering 40+ currency pairs with low fees, tight spreads and advanced charting tools.
• Stock CFDs Contracts for difference on individual stocks enabling leveraged speculation on stock price movements in both directions.
• Real Stocks Investment in 2,000+ real listed company shares across 10+ major global exchanges (NYSE, NASDAQ, European markets) with 0% commission.
• Indices Trading CFD trading on global stock indices including the S&P 500, DAX, NASDAQ, Dow Jones, FTSE 100 and other major market indices.
• ETFs CFD trading on exchange-traded funds from issuers such as SPDR, iShares, Vanguard and ProShares.
• Commodities Trading CFD trading on commodities including gold, silver, oil, wheat, coffee, copper and natural gas with low fees and tight spreads.
• Futures Trading Derivative CFD contracts on futures covering indices, commodities and currencies with specified expiration dates such as S&P 500, DOW 30 and NIKKEI 225.
• Cryptocurrencies (Crypto CFDs) Cryptocurrency derivative (CFD) trading with access to 30+ crypto assets including Bitcoin, Ethereum, Solana and other major altcoins.

Quantifiable outcome

• 37.5% growth in new funded clients in 2025 at 15.9% lower cost per acquisition
• +4 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability3 records

Feature11 records

Partnerships

Three partnerships are on record, tiered core.

• Borussia DortmundcoreGTM or Marketing Partner · 2 February 2026NAGA Group is a crypto sponsor of Borussia Dortmund football club, alongside Coinbase and BlockDAG ($10M three-year deal). The partnership is a key element of NAGA's brand-building and crypto adoption strategy in Europe, leveraging Borussia Dortmund's fanbase and Bundesliga visibility to promote NAGA's regulated crypto services (enabled by MiCA authorization). Borussia Dortmund is recognized as the leading Bundesliga club for crypto partnerships.
• TradingViewcoreTechnology or IntegrationNAGA integrates TradingView's advanced charting capabilities across its web, mobile, and desktop platforms. TradingView provides lightning-fast charts, 100+ indicators, pattern recognition, and drawing tools that enhance NAGA's trading experience across all 4,000+ instruments.
• CAPEX GroupcoreStrategic or Co-development PartnerNAGA completed the full operational integration of the CAPEX Group merger in 2025. The merger contributed to a structurally lower operating expense base, 37.5% growth in new funded clients, and improved customer acquisition efficiency. This strategic combination accelerated NAGA's path to profitability.

Scale indicators14 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• eToro: eToro is the most direct comparable — a multi-asset social/copy trading broker serving retail investors globally with similar features (CopyTrader, social feed, multi-asset platform including stocks, crypto, CFDs). Both target self-directed retail traders who want a community-driven investing experience.
• XTB: XTB is a publicly listed European multi-asset broker (WSE) offering stocks, ETFs, CFDs, and crypto across 13+ countries with CySEC, FCA, and KNF regulation. Highly comparable in size, business model, and target market to NAGA, with overlapping EU retail positioning.
• Trading 212: Trading 212 is a multi-asset retail broker (CFDs + real stocks/ETFs) operating across Europe and the UK, with CySEC and FCA regulation. It is a direct competitor on zero-commission real stocks and multi-asset retail trading, though without a social-trading moat.
• Plus500: Plus500 is a publicly listed multi-asset CFD broker (LSE) offering forex, stock CFDs, crypto, and commodities to retail clients. It is highly comparable on product breadth, spread-based revenue model, and European CySEC/ASIC regulatory footprint, though it lacks NAGA's social-trading layer.
• Capital.com: Capital.com is a multi-asset CFD broker with CySEC, FCA, ASIC, and FSA regulation offering stocks, forex, indices, commodities, and crypto CFDs via an AI-driven platform. It directly competes with NAGA in European retail CFDs and shares the AI-investment and EU-licensed positioning.
• AvaTrade: AvaTrade is a multi-asset forex/CFD broker regulated across six jurisdictions (including CySEC, ASIC, FSA) offering stocks, forex, commodities, indices, and crypto. Direct competitor in the EU retail CFD space with similar product breadth and regulation profile.

Broad incumbents

• Robinhood: Robinhood is a US-leading, publicly listed (NASDAQ) commission-free multi-asset retail broker that has expanded into Europe and crypto. While primarily US-focused and without NAGA's social-trading layer, it competes for the same self-directed retail trader demographic and benchmark for product-led growth in retail brokerage.
• IG Group: IG Group is a long-established, publicly listed multi-asset broker (LSE) offering spread betting, CFDs, and stock trading globally. It is a broader incumbent with a much larger client book and Tier-1 (FCA, ASIC) regulation, serving as a scaled comparable for NAGA's CFD/forex core.
• Interactive Brokers: Interactive Brokers is a large, publicly listed global broker (NASDAQ) with a multi-asset platform spanning stocks, options, futures, forex, and bonds. It serves a more professional client base than NAGA, but competes for the same self-directed retail investors seeking low-cost, multi-asset access.

Others

• TradingView: TradingView is NAGA's charting and analytics partner (integrated across web, mobile, and desktop) and a global social-trading platform with charting, idea-sharing, and broker integrations. It is comparable as an adjacent ecosystem player — the social/charting layer that NAGA wraps trading execution around, and a potential competitor on community engagement.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights6 records

Customer concentration

• Xx.com/thenagagroup

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries5 records

Funding overview

Funding rounds4 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The NAGA Group