Social trading focused online broker NAGA Group AG (ETR:N4G) has released its full year 2021 results, indicating that the company saw a significant slowdown in activity in Q4, following record quarterly results in Q3 at NAGA.

For the full year 2021 NAGA consolidated group revenue more than doubled to around €55.3 million compared to the previous year (2020: €24.4 million). However revenue in Q4 at CySEC-licensed came in at €14.1 million, down 22% from a record €18 million the previous quarter.

Markets seems to have anticipated the decrease in activity at NAGA, with the company’s shares trading down by about 29% since peaking at €9.30 in early November, to about €6.59 today.

NAGA saw record EBITDA of €12.8 million in FY-2021, which is also almost a doubling compared to 2020 (€6.6 million). Furthermore, NAGA reports that over 277,000 new accounts joined its trading platform, a 128% increase compared to last year (2020: 122,000 new accounts).

Traded volume in 2021 reached €250 billion (about USD $24 billion monthly in client trading volume), which means that the company was also able to double this metric compared to 2020 (€121 billion). In addition, NAGA executed more than 10 million real-money transactions, an increase of 60% compared to 2020 (6.3 million). Notably, the strongest growth metric is the copy-trading activity. In 2021 NAGA saw over 4.8 million trades copied via its unique Auto Copy tool, that is almost tripling compared to 2020 (1.7 million copied trades).

Benjamin Bilski, Founder and CEO of NAGA said:

“2021 was a fantastic year for NAGA. We have delivered another record year and achieved several milestones along the way. The investments in growth and the continuous acceleration of our marketing activities have paid off. Additionally, we have launched great products such as NAGA Pay, improved our platform and welcomed strategic investors to our cap table. 2022 will be another eventful year. We expect to be among the fastest growing neo-brokers, by gaining further market share in existing markets but also by expanding into new markets, while also increasingly focusing on the crypto and DeFi space with our brand-new platform NAGAX.”

In addition to its financial results, NAGA also announced the launch of a brand-new social trading platform focused on cryptocurrencies: NAGAX.

The platform aims to offer:

– A unique Web3 social trading experience

– A spot exchange supporting over 700 tradable assets

– A futures and derivatives exchange

– A crypto-currency wallet with top level security

– An inbuilt NFT platform

– A staking platform

– A launchpad for promising projects

– Educational video content in the Learn-platform against rewards

The platform will offer a globally unique “Web3 Social Investing Feed” which automatically converts each user generated content on the platform into an NFT that can be monetized.

“With NAGA we have built one of the most innovative brokerage platforms in the industry – driven by social interaction and ultimately copy trading. Also, we gained unique insights between content creators and influencers and their needs. However, we believe that Decentralized Finance (DeFi) will be one of the strongest growing segments in the financial space and therefore will combine our knowledge with all our innovation capabilities and breadth of experience. With our brand new Web3 Social Investing Feed we believe to set a new standard in the world of financial influencers, improving their capabilities to serve their audience better, while offering instant monetisation of their content bypassing the middleman”, says Bilski.

He also adds:

“A financial influencer, for example, who offers premium content such as trading signals or technical analysis, posts the content and can directly set a price and availability. The post is automatically converted to an NFT. Any user who has access to an Ethereum-based wallet can unlock the content immediately. Each content is thus tokenized and can even be traded as an NFT itself. And of course, NAGAX will offer traders the opportunity to copy influencers’ crypto trades for more than 700 assets via the social feed. The crypto world is highly fragmented. Crypto traders are literally forced to follow and join multiple groups and accounts across different platforms in order not to miss out. Crypto influencers, on the other hand, have to manage a wide variety of channels and monetization streams. Hence, we believe that our concept of content, direct monetization for influencers and copy trading on cryptocurrencies will experience great demand and will create a strong new source of revenue for NAGA.”

The first version of NAGAX will launch within Q1 2022.