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IG Group reports 62% increase in trading revenue for Q1 FY21



UK online trading leader IG Group Holdings plc has today released its trading update for the first quarter of its FY210 financial year ending on 31 August 2020.

The Group reported strong performance throughout the first quarter with trading revenue of £209 million, up by 62% compared to Q1 FY20, when it was £129.1 million. The revenue marked 19.3% decrease based on the record-breaking Q4 FY20.

IG’s performance was driven by the continued increased levels of trading activity from existing clients, as well as the growing new customers. The company registered 201,500 total active clients, up 50% YoY (Q1 FY20: 134,100). 134,800 clients traded OTC leveraged products in the quarter (Q1 FY20: 92,300).

IG Group trading volumes for the financial year

Other highlights of the Group’s report include:

  • Q1 FY21 revenue in the Core Markets reached £170.8 million, up by 56% on the prior year (Q1 FY20: £109.4 million). Performance of the Retail client base in UK and Europe was strong, with growth delivered in both revenue per client and number of active clients.
  • Q1 FY21 revenue in the Significant Opportunities portfolio was £38.2 million, up by 94% on the prior year (Q1 FY20: £19.7 million) and is on track to deliver the medium-term target of £100 million in revenue growth from this portfolio by the end of FY22.

Group CEO June Felix commented:

June Felix, IG Group
June Felix

I am excited by the outstanding performance we delivered in the first quarter as we enter the second year of our three-year growth strategy.

This was a great start to the year, and although there was some moderation from the exceptional performance in Q4, our first quarter results demonstrate IG's continued strength across the Core Markets, while also highlighting the growth potential in the Significant Opportunities.

Our focus remains on providing a first-class experience to sophisticated clients looking to trade across a range of global financial markets. We continue to invest in our people, platform and technology, to deliver the functionality and capabilities demanded by our loyal, high quality client base, while maintaining our differentiated business model.

Earlier in July, IG Group announced the appointment of Rakesh Bhasin as a non-executive director and a member of the environmental, social and governance (ESG) Committee of the Board.

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IG Group reports 62% increase in trading revenue for Q1 FY21

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