IG Group Holdings (LON:IGG), UK’s second largest forex broker in terms of market capitalization, has teamed up with political polling agency Survation to deliver a series of polls ahead of UK’s EU referendum, due to take place on June 23, 2016. The main goal of the polls on the Brexit vote outcome is to provide IG clients with information that would help them make informed decisions in their trading.
The broker also offers trading in political binary options on the results of the vote.
The poll results will be broadcast on IG’s live video service. The first survey will be aired live on Wednesday, April 27 at 1.30 PM (GMT) in the IG website’s EU referendum section.
The Survation polls will be based on telephone interviews with over 1 000 adults across the UK. This methodology has proved to be the most accurate during the UK’s recent referendums on the Scottish independence.
“The EU referendum is one of the key events facing financial markets in 2016”, explained Matt Brief, Head of Dealing at IG Group. “The pound fell to a seven-year low when the referendum was announced, as global traders responded to the possibility of the UK leaving the EU, and more volatility is expected as the referendum approaches. At IG we provide our clients with up to the date unbiased information, expert opinion and analysis tools via our website IG.com and our award winning trading platform and apps. These polls with Survation are an important aspect of this function.”
UK’s EU referendum would be one of the most significant political events this year and it will inevitably impact the global economy, including the exchange rates of the EUR and the GBP and stock prices. So far the markets have remained stable, but this could change as the referendum poll nears and the uncertainty of the outcome increases.
IG’s analysts make an analogue with the Scottish referendum two years ago and expect history might repeat itself with the Brexit vote. In the months leading up to the Scottish independence referendum, the markets have remained relatively calm, with expectations that the Scots will choose to remain part of the UK (which they eventually did). Several weeks before the vote, however, there was a panic caused by a poll showing the independence camp will take the lead. As a result, the Sterling fell and stocks of companies with strong links to Scotland came under pressure.
A poll among IG’s clients conducted on March 29 shows that 65.5% of them believe the UK will remain part of the EU. The most recent poll of The Telegraph among British voters, however, shows that on April 25 the outcome hangs in the balance with 51% in favor of staying in the EU, 46% against and 3% undecided.
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.
Survation is a UK polling and market research company set up in 2007. Surveys are conducted via telephone, online panel and face to face market research for a broad range of clients including television, newspapers, charities, lobby groups, trade unions, law firms and political parties. It is best known for its monthly voter-intention polls.