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IG retains top spot on UK forex, CFD market as traders' numbers rise – report

Jul 17 2017
By
Jonathan Smith

 IG Group, a major global forex broker based in the UK and regulated by the FCA, is keeping its top position at UK's forex, spread betting and CFD market and continues to gain positions.


Next stands rival CMC Markets, but IG's holds over a third of the overall market and is four times bigger than the second on the list, shows a report of the Investment Trends consultancy, quoted by Finance Magnates.


The UK Leverage Trading Report was conducted in May 2017 among over 13 800 traders and investors.


“IG’s strong brand presence has been an undeniable asset for cementing their leadership,” said Research Director of Investment Trends, Irene Guiamatsia.


According to the data, the number of traders in the UK has increased significantly from last year, mostly thanks to the CFD trading industry, which rose 21% and was the growth leader among eight markets surveyed by Investment Trends. The main driver of the growth was the global forex and CFD broker Plus500, the report found.


“Plus500’s client acquisition machine has caused a noticeable shift in the industry, where CFDs no longer play second fiddle to the traditionally preferred spread betting product,” Guiamatsia noted.


According to the report, the UK traders are among the most satisfied in the world. IG's clients seem to be most pleased with the useful innovation the broker provides, while CMC Markets' clients are happy with the overall service in terms of customer service, mobile trading, platform features and education materials.


UK is the largest forex and CFD market in the world, with a daily average volume of $2.4 trillion, as of April 2016.

 

 

TAGS: IG  UK  CMC Markets 

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