Brokerage group NAGA released a quarterly update for investors on Wednesday morning.
The Frankfurt-listed broker’s report did not contain financials but was more of a high level update as to how the broker has been performing.
Key updates include an expansion of the broker’s investment universe. Clients investing with NAGA can now access instruments on 15 exchanges globally, with more than 3,000 stocks and ETFs listed in the broker’s app.
The company also added a feature called NAGA Earn, which allows users to earn interest on any idle cash held in Euros.
Product-wise, NAGA integrated research and analysis portal TipRanks into its platform and made updates to the user interface of its platform, across both mobile and desktop.
NAGA marketing spend is working
The most interesting update was on the broker’s marketing efforts. The firm highlighted three key initiatives here.
- Commission-free investing in stocks and ETFs
- Referal and incentive-schemes
- Borussia Dortmund partnership
NAGA noted that these efforts have led to better conversion rates, higher levels of account openings, and improved engagement on the broker’s end platform.
“NAGA’s recent product developments and strategic campaigns are tightly aligned with our long-term vision,” said the broker’s CEO, Octavian Patrascu.
“By enhancing platform utility and expanding user benefits, we’re not only improving the client experience but also building the foundations for sustainable growth. These updates support our commitment to delivering scalable results, operational excellence, and ongoing value creation for our stakeholders.”
NAGA’s latest financials showed the firm was on a solid footing to start generating more stable financial returns, following a merger with rival brand CAPEX.com last year.
It’s plausible volatility in the second quarter of this year means the firm has actually exceeded the levels of predicted revenue growth it detailed in those financials, although that is obviously yet to be confirmed by the company.