The LSE Directory / CFD and forex brokers
NAGA is a German multi-asset brokerage and fintech, headquartered in Hamburg and founded in 2015, that lets retail clients trade CFDs and real assets across forex, stocks, ETFs, indices, commodities, futures and cryptocurrencies. Its flagship feature is NAGA Autocopy, which lets a user automatically mirror another trader's open positions in real time, sizing the copy either as a fixed stake or as an allocation relative to the leader's own position, with an unlimited number of traders followable at once. Trading runs through the group's own WebTrader and mobile app, a Telegram mini-app for position management, and MetaTrader 5; MetaTrader 4 has since been discontinued. The platform lists more than 4,000 tradable instruments. NAGA's differentiator against a typical execution-only CFD broker is its social layer: the platform surfaces trader profiles and track records so a user can browse performance and then copy a chosen trader directly, rather than acting purely on their own analysis. It targets retail, self-directed traders who want either to trade themselves or to follow others, and pairs this with NAGA Pay, a companion app combining a Visa debit card, an IBAN account and a crypto wallet, so a user can move between trading and everyday spending in one ecosystem. The group operates through separately licensed regional entities rather than one global permit: NAGA Markets Europe Ltd under the Cyprus Securities and Exchange Commission (license 204/13), NAGA Capital Ltd under the Seychelles Financial Services Authority (license SD026), JME Financial Services (Pty) Ltd under South Africa's FSCA (license 37166), and Key Way Markets Ltd under the Abu Dhabi Global Market's FSRA (license 190005). The parent NAGA Group AG went public on the Frankfurt Stock Exchange in 2017, and Chinese conglomerate Fosun International has held a stake since that listing. In 2024 the group completed a merger with Key Way Group Ltd, owner of the CAPEX.com brand, approved by 99.81% of shareholders, forming a combined neo-broker the company describes as serving around 1.5 million users across more than 100 countries and targeting up to EUR 9 million a year in cost synergies. NAGA Pay launched in 2021. In June 2026 the group's NAGA X Ltd entity obtained authorization under the EU's Markets in Crypto-Assets Regulation from CySEC (registration 009/23), allowing it to offer regulated crypto custody and trading to EU clients ahead of MiCA's July 2026 transitional deadline. The company is led by CEO Octavian Patrascu. NAGA reported its first profitable first quarter in company history in Q1 2026: net profit of EUR 0.5 million on revenue of EUR 14.4 million and EBITDA of EUR 2.3 million, a 15.8 percent margin, while adding 87,500 new registered users and 4,903 newly funded accounts on USD 80.7 billion of quarterly trading volume. Full-year 2025 revenue was EUR 62.4 million with EUR 3.3 million EBITDA, and the group has reiterated 2026 guidance of EUR 68 million to EUR 75 million in revenue. Since the CAPEX merger it has also pursued brand-visibility deals, including a September 2024 sponsorship of Borussia Dortmund and signing former boxer Mike Tyson as a brand ambassador in late 2024.
