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IG reports 9% rise of net trading revenue for H1 2018

 IG Group, a leading global forex and CFD broker issued a trading update for H1 of the financial year ending on May 31, 2018. According to it, the company posted a 9% of the net trading revenue year-on-year.


The news comes against the background of a record Q1 2018 reported earlier this year and continuous good performance in the second quarter.


Furthermore, IG says, the operating costs, excluding variable remuneration are expected to be 7% lower than H1 2017. Overall, the company expects that the operating costs will remain similar to the previous financial year.


As it has become customary in the past year, IG, like many other properly regulated major forex brokers, notes the regulatory uncertainty looming ahead on major markets. “The Company continues to implement measures to differentiate itself further within the OTC leveraged derivatives industry and to protect the business from regulatory change. It remains difficult, however, to predict what impact regulatory change may have on the Group this financial year and beyond”, IG said.


IG Group was established more than 40 years ago and was the first financial services provider in the UK to launch spread betting. It also offers trading in forex, CFDs, stocks, bonds and cryptocurrencies like Bitcoin.

 

IG is regulated by UK’s Financial Conduct Authority (FCA), but its subsidiaries are also regulated by the relevant authorities in the countries where they operate (Australia, Japan, South Africa, UAE and Singapore). Besides, IG is listed on the LSE, and is a member of the FTSE 250.


TAGS: ig  net revenue   

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