IG Group Launches Stockbroking in the UK and Ireland

Having stated its intentions in previous Trading Updates, IG Group is today launching its stockbroking platform in the UK and Ireland. The launch comes as IG is diversifying its revenue stream from being primarily focused on active traders while also offering what it believes is a natural extension of its existing product line. When presenting its stockbroking initiative to shareholders in July, IG Group exhibited data showing that 59% of spreadbetting and CFD traders in the UK also trade shares online. As such, with around 40,000 active clients from the UK and Ireland, the stockbroking initiative is poised to appeal to around 24,000 existing customers, as well as dormant accountholders who may become interested in the new initiative.

In its launch, the IG stockbroking platform will offer trading in 4,500 shares including non-UK listed stocks. Like its CFD and Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term trading products, the shares Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term will be available with similar analytical tools, as well as in tablet and mobile apps. Overall, the product launch plays to recent strengths at IG, of which they are seeing growth in mobile and tablet trading, as well as an increase in interest towards non-forex securities.

In announcing the offering, Tim Howkins, Chief Executive of IG Group, stated, “The global financial markets are faster moving and more intertwined than ever before. Retail investors are becoming increasingly confident and demanding with technology, especially in the field of mobile apps. The traditional trading platforms available to those wanting to buy stocks online simply haven’t kept pace – they are basic and opaque.” Howkins added, "Our research shows that people put convenience at the top of their wish list when making financial transactions online.”