IG Group’s revenue reaches new record high in Q3 FY 2016

IG Group’s revenue reaches new record high in Q3 FY 2016

- in All News, Forex Brokers
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IG Group Holdings (LON:IGG), UK’s largest forex broker in terms of market capitalization, said on Tuesday its consolidated revenue reached a new record level of £122.0 million in October-December 2015, or the third quarter of fiscal year 2016. The figure represents an increase of 18% over the year and around 9% higher than in the second quarter of the 2015 fiscal year, which was the previous highest quarter.

Following are the group’s revenue and key performance indicators by region : IG Group Q3 FY 2016

Average revenue per client was about 6% higher in Q3 FY 2016, compared to a year earlier.

“A constant flow of macro-economic news created reasonable levels of volatility in financial markets throughout the period, providing clients with a wide range of trading opportunities,” the company said in a notice published with the London Stock Exchange (LSE).

Active client numbers and client first trades also reached new highs for the group, growing by an annual 11% and 26%, respectively.

In the previous two quarters, IG Group’s revenue was combined £214.8 million. IG Group generates nearly half of its revenue from outside the UK.

The rest of the UK brokers that have published their financial results had their financial years in 2015. For instance, Plus500 had a total revenue of $275.6 million in 2015, while London Capital Group Holdings (LCG) reported a revenue of £15.5 million.

London-based IG Group was set up in 1974 as a spread betting provider, the first UK-based one at the time. Since then it has expanded to also offer trading in contracts for difference (CFDs), forex, binaries, and stocks.

It has more than 136,000 clients that are served from offices in 17 countries across the EU, the US, Asia, and Africa. The group operated under the IG brand worldwide, and as the Nadex derivatives exchange in the US, after in 2012 it merged the brands IG Index and IG Markets into a single one – IG.

IG Group’s lead regulator is the UK’s Financial Conduct Authority (FCA), but its subsidiaries are also regulated by the relevant authorities in the countries where they operate. It is also a licensed bookmaker by the UK’s Gambling Commission.

Source: LSE

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