IG Group Records 71% YoY Revenue Jump

IG Group Holdings plc has recorded its trading activity numbers for the last three months. The end of November numbers showed a consistent demand for its services in the fiscal year.

The number of IG group active clients on the platform surged significantly.

The brokerage generated total revenue of £207 million in the second quarter of FY2021. This is marginally lower than £209 million reported in the previous quarter. However, it was significantly stronger than the figures reported a year earlier.

IG’s revenue for Q2 of FY2020 was only £120.8 million, which means the brokerage saw an annual jump of 71.4% recently.

Clients getting active

The brokerage firm, with its headquarters in London, highlighted high trading volumes across its client base. The number of newly joined traders reflect the trend.

Last quarter, IG recorded 207,000 total active clients compared to 133,800 active clients in a comparable quarter the previous year.

IG is reporting impressive performance for a few consecutive quarters. The demand in Q2 was marginally lower than the previous quarter, but it was still impressive considering the dull activity across the trading industry in October.

Note that the YoY performance if Q2 is still better than Q1 when the revenue increased by 62%. IG doubled its revenue in the final FY2020 quarter.

Now, IG expects the net trading volume for the first half of FY2021 to be around £416 million, up from the previous year’s £249.9 million.

According to June Felix, their focus remains on providing a first-class experience to sophisticated clients looking to trade across various global financial markets.

June Felix is the CEO Group.

He said they continue to invest in their people, platform, and technology to deliver the functionality and capabilities their loyal clients demand. They also want to maintain their differentiated business model for their high-quality client.