IG Group, a major global forex broker based in the UK, has reported a “record revenue” for the first quarter of its 2018 financial year that ended on August 31, 2017.
According to the data, the Q1 FY2018 stood at £135.2 million, amid relatively quiet financial markets. The figure is 21% higher than the same period of the prior year.
Over the same period, however, the number of active clients was lower than Q1 FY2017, which saw strong new client inflow in reflecting the short-term trading opportunities created by the EU referendum in June 2016. Yet recent reports of the UK consultancy Investment Trends showed that IG is the leader both on its home market and in Australia.
Recently IG Group reported record revenue for the previous financial year.
IG is a financial services provider with over 40 years’ trading experience. It was the first company to launch spread betting, and it also offers trading in contracts for difference (CFDs), forex, stocks, bonds, binaries, and Bitcoin. It is primarily regulated by UK’s Financial Conduct Authority (FCA), but its subsidiaries have licenses from the authorities in Australia, Japan, South Africa, UAE and Singapore.