The broker generated total revenue of £278.9 million in three months.
The number of active clients on the platform dropped by 1 percent.
London-listed IG Group (LON: IGG) ended the fiscal quarter between June and August, generating total revenue of £278.9 million, which was a 15 percent year-over-year increase. The broker highlighted that “higher revenue per client, supported by elevated volatility across a range of asset classes in early August,” boosted its revenue.
Trading Revenue Is Back on Track
Out of the total figure, which also included interest income, IG generated £208.1 million from OTC derivatives, a 14 percent year-over-year increase, while exchange-traded derivatives revenue jumped 20 percent to £59.6 million. The remaining £11.2 million came from stock trading and investments.
However, the number of active traders on the platform dropped by 1 percent to 263,200, which in turn boosted the revenue generated from each trader.
The London-headquartered broker further highlighted that it earned £36.8 million in net interest income in Q1 FY25, up from £34.4 million in the corresponding quarter of the previous year. Interest income from OTC derivatives stood at £13.7 million, while the figure for exchange-traded derivatives was £18.4 million.
A significant portion of IG’s exchange-traded derivatives revenue comes from its US-based subsidiary, tastytrade, whose revenue jumped 18 percent in the quarter to $70.8 million, translating to a 17 percent year-over-year increase to £55 million in reported GBP terms. tastytrade saw a boost in overall revenue due to an increase in trading revenue, which rose to $47.1 million from $37.1 million in the first quarter of the previous fiscal year.
Today's update also revealed that client cash balances in IG’s US business remained steady at $1.9 billion, the same as the end of the previous quarter, while for non-US markets, it dropped to £2.6 billion from £2.7 billion.
London-listed IG Group (LON: IGG) ended the fiscal quarter between June and August, generating total revenue of £278.9 million, which was a 15 percent year-over-year increase. The broker highlighted that “higher revenue per client, supported by elevated volatility across a range of asset classes in early August,” boosted its revenue.
Trading Revenue Is Back on Track
Out of the total figure, which also included interest income, IG generated £208.1 million from OTC derivatives, a 14 percent year-over-year increase, while exchange-traded derivatives revenue jumped 20 percent to £59.6 million. The remaining £11.2 million came from stock trading and investments.
However, the number of active traders on the platform dropped by 1 percent to 263,200, which in turn boosted the revenue generated from each trader.
The London-headquartered broker further highlighted that it earned £36.8 million in net interest income in Q1 FY25, up from £34.4 million in the corresponding quarter of the previous year. Interest income from OTC derivatives stood at £13.7 million, while the figure for exchange-traded derivatives was £18.4 million.
A significant portion of IG’s exchange-traded derivatives revenue comes from its US-based subsidiary, tastytrade, whose revenue jumped 18 percent in the quarter to $70.8 million, translating to a 17 percent year-over-year increase to £55 million in reported GBP terms. tastytrade saw a boost in overall revenue due to an increase in trading revenue, which rose to $47.1 million from $37.1 million in the first quarter of the previous fiscal year.
Today's update also revealed that client cash balances in IG’s US business remained steady at $1.9 billion, the same as the end of the previous quarter, while for non-US markets, it dropped to £2.6 billion from £2.7 billion.
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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