The letter hints at some of the problems which have been plaguing NAGA, which led to the recent ouster of longtime CEO Ben Bilski.
NAGA co-Executive Director Michael Milonas will become Group CEO, while Benjamin Bilski is moving to focus on technology as CIO.
Copy trading represents 55% of overall trades whilst 2023 customer deposits care up by 50% as compared to 2022.
The markets seem to focus nowadays on bad news, and look to “sell now” and worry about buying back later.
Two of 2021’s market darlings among public traded Retail FX brokers – Swissquote and NAGA.com – have performed the worst YTD in 2022.
Leading the acquisitions was NAGA.com CEO Ben Bilski, who bought €200,000 in NAGA shares, at prices of between €7.77-€8.09.