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.
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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!
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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.
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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.
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👉 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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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.
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👉 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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FM's Andrea Badiola Mateos at LSEG's Cyprus event
FM's Andrea Badiola Mateos at LSEG's Cyprus event
FM's Andrea Badiola Mateos at speaking in a panel discussion at LSEG's Cyprus event
FM's Andrea Badiola Mateos at speaking in a panel discussion at LSEG's Cyprus event
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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Join us at FMLS:24 to connect with global institutional brokers. Secure your spot today! #fmls24
Join us at FMLS:24 to connect with global institutional brokers. Secure your spot today! #fmls24