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IG Group Revenue Up by 18% Since December

Mar 12 2013
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For many Forex brokers, 2012 did not end well and I for one was really looking forward to seeing some improvement this year. Luckily, after FXCM showed record Forex trading volumes and Forex.com announced a 44% increase in customer assets over the past year, I was able to rest easy. Now, another broker has brought some very good news to our attention: IG Group has announced its revenues for the period between December 1, 2012 and March 11, 2013 have gone up by 18%.
 
Looking at the official Interim Management Statement, it seems IG Group's performance was satisfactory all over the world. As you can see in the table below, the broker did exceedingly well in Europe and the "Rest of the World" area. In the UK, revenue went up by 15%, with another 10% in Australia. Way to go, IG Group!
 
 
According to the official IG Group Interim Management Statement, the broker's strongest points this year were the improvements made to its technology platform, like the mobile app for spread betting and CFD trading, the add-in for Chrome Internet browser, allowing click-through from web pages to dealing, the Bloomberg terminal trading option and the introduction of push-alerts to mobile devices. Another achievement for the company was an increase to 19% in its share in the Australian CFD market. 
 
While many have suffered due to actions taken by the CFTC in the US, IG Group is in fact benefiting from things like binary options providers being shut down (because it "supports the position of Nadex as a fully regulated binary option exchange", as stated in the IG Group Interim Management Statement). However, on the Japanese front, additional regulations for binary options trading might become an issue. In Europe, a new Italian tax on cash equities was introduced this month, forcing IG Group to change its prices on Italian equities.
 
On the whole, after averaging in the good and the bad during the period, IG Group's Interim Management Statement sounds pretty hopeful for the future. Or, as the company explains in its official statement: "IG believes that its technology advantage, market leadership positions, cost discipline and strong balance sheet leave it very well positioned for continuing growth and to take advantage of any short term or more sustained improvements in the markets which it serves."
 
 

About IG Group

 
IG Group Holdings plc is a United Kingdom-based company. The IG Group is a global provider of contracts for difference (CFDs) and spread betting to retail investors. IG, through its main brands, IG Index and IG Markets, provides over 14,000 spread betting and CFD products on a range of financial markets, including Forex, stock indices, shares, commodities, binaries, options and interest rates. IG Group Holdings plc, the parent of the IG Group, is listed on the London Stock Exchange. The IG Group employees approximately 1,000 people worldwide and has offices in the UK, France, Spain, Portugal, Germany, Italy, Sweden, Netherlands, Luxembourg, Japan, Australia, South Africa and Singapore.
 
TAGS: ig group  interim management statement  revenue 

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