IG Group Holdings plc is a global fintech powerhouse, recognized as a prominent member of the FTSE 250. Headquartered in London, the company has established itself as a leader in online trading, offering innovative financial solutions to a diverse client base worldwide.
With a strong focus on empowering ambitious individuals to achieve financial freedom, IG Group leverages cutting-edge technology and a client-centric approach to deliver exceptional trading experiences. The company’s purpose is to “power the pursuit of financial freedom for the ambitious,” guided by strategic drivers such as inspiring experiences, growth-oriented strategies, and innovative products. IG Group’s values—championing the client, learning fast together, and raising the bar—underpin its operations, ensuring a commitment to excellence and sustainability.
Table of Contents
Company Profile
IG Group serves over 346,200 active clients globally, offering access to approximately 19,000 markets, including indices, forex (FX), options, and digital assets. Its robust, award-winning trading platforms maintain 100% uptime, ensuring reliability even in volatile market conditions.
IG Group’s business model is highly cash-generative, supported by a strong financial position and a clear capital allocation framework. In FY24, the company reported total revenue of £987.3 million, despite softer market conditions, and returned £422.7 million to shareholders through dividends and share buybacks. With regulatory licenses in 16 countries, IG Group maintains a strong reputation for compliance and client trust, further solidified by its Brighter Future Framework, which emphasizes sustainable and responsible business practices.
Business Segments
IG Group operates through four decentralized, geographically arranged divisions to align products and marketing with local client needs. These segments focus on delivering tailored financial services across various markets. Below is a detailed breakdown of the business segments, their operations, and their revenue contributions for FY24:
- OTC (Over-the-Counter) Leveraged Derivatives
This segment is the core of IG Group’s operations, providing leveraged trading products such as contracts for difference (CFDs) and spread betting. It caters to active traders who engage in multiple trades daily, offering access to a wide range of markets. In FY24, the OTC segment faced softer market conditions in the first half but saw improved performance in the second half due to more favorable conditions.- Revenue Contribution: Approximately 80% of total revenue (£790 million).
- Details: The segment benefits from superior trade execution, with 99% of orders filled at the client’s desired price or better. It is supported by sophisticated risk-management technology and a high-quality client base, with strict onboarding criteria ensuring only suitable clients are accepted.
- Exchange-Traded Derivatives (ETD)
This segment includes products like options and futures traded on exchanges, primarily through the tastytrade platform, which targets self-directed traders. The segment is growing as part of IG Group’s diversification strategy.- Revenue Contribution: Approximately 15% of total revenue (£148 million).
- Details: The tastytrade mobile application enhances client accessibility, and the segment benefits from IG Group’s investment in platform reliability and educational content, including live broadcasts and on-demand resources.
- Stock Trading and Investments
This segment focuses on non-leveraged investment products, allowing clients to hold shares and other assets. It appeals to clients seeking long-term investment opportunities alongside trading.- Revenue Contribution: Approximately 5% of total revenue (£49.3 million).
- Details: This segment is part of IG Group’s push to diversify revenue streams, targeting clients who maintain balances at the period end. It leverages the company’s global platform and educational resources to attract and retain clients.
Total Revenue Breakup (FY24):
- OTC Leveraged Derivatives: 80% (£790 million)
- Exchange-Traded Derivatives: 15% (£148 million)
- Stock Trading and Investments: 5% (£49.3 million)
The company’s diversified business model ensures resilience across market cycles, with a focus on expanding into new products and geographies to drive sustainable growth.
Products and Services
IG Group offers a comprehensive suite of financial products and services designed to meet the needs of active traders and investors. Below is a detailed list of offerings, their features, and revenue contributions for FY24:
- Contracts for Difference (CFDs)
CFDs allow clients to speculate on price movements across various asset classes without owning the underlying asset. They are a key component of the OTC segment.- Details: Access to 19,000 markets, including indices, FX, commodities, and shares. Superior execution with 99% of orders filled at or better than the requested price.
- Revenue Contribution: Approximately 60% of total revenue (£592 million).
- Spread Betting
A tax-efficient trading product (in certain jurisdictions) allowing clients to bet on price movements in financial markets.- Details: Popular in the UK, offering leveraged exposure to markets like forex, indices, and commodities. Supported by robust platform reliability and risk management.
- Revenue Contribution: Approximately 20% of total revenue (£197.5 million).
- Options and Futures (ETD)
Exchange-traded derivatives offered through the tastytrade platform, catering to clients seeking standardized contracts.- Details: Includes equity options and futures, with a focus on active traders. Enhanced by educational content and the tastytrade mobile app.
- Revenue Contribution: 15% of total revenue (£148 million).
- Stock Trading and Investments
Non-leveraged products for clients looking to invest in shares and other assets for long-term growth.- Details: Clients can hold balances in shares, ETFs, and other investment vehicles, supported by IG Group’s global platform and educational resources.
- Revenue Contribution: 5% of total revenue (£49.3 million).
- Educational Content and Tools
IG Group provides live broadcasts, on-demand content, and bespoke support through premium client managers to help clients make informed trading decisions.- Details: Includes market analysis, trading strategies, and tutorials for all experience levels, enhancing client engagement and retention.
- Revenue Contribution: Indirectly supports revenue generation across all segments by improving client trading activity and loyalty.
Total Revenue Breakup (FY24):
- CFDs: 60% (£592 million)
- Spread Betting: 20% (£197.5 million)
- Options and Futures (ETD): 15% (£148 million)
- Stock Trading and Investments: 5% (£49.3 million)
The company’s product offerings are underpinned by market-leading technology, ensuring platform reliability and a cutting-edge user experience.
Company History
IG Group’s journey began in 1974 as Investors Gold, founded by Stuart Wheeler to provide investors with access to gold prices. Over the decades, it evolved into a global leader in online trading, driven by innovation and strategic expansion. Key milestones include:
- 1974: Founded as Investors Gold, offering gold price exposure to retail investors.
- 1980s: Expanded into spread betting, introducing a tax-efficient way for UK clients to trade financial markets.
- 1990s: Pioneered online trading platforms, transitioning from traditional phone-based trading to digital solutions.
- 2000: Listed on the London Stock Exchange, becoming a member of the FTSE 250.
- 2000s: Expanded globally, obtaining regulatory licenses in key markets such as the US, Australia, and Singapore. Introduced CFD trading to diversify product offerings.
- 2010s: Strengthened its technology infrastructure, achieving 100% platform uptime and investing in resilience to handle high demand. Acquired Nadex, a US-based exchange, to enter the regulated ETD market.
- 2021: Acquired tastytrade, a US-based brokerage, for $1 billion, significantly enhancing its ETD offerings and US market presence.
- 2023-2024: Under new CEO Breon Corcoran, IG Group restructured into four decentralized divisions to enhance client centricity and accelerate growth. Divested Nadex to focus on core OTC and ETD segments.
The company has consistently invested in technology, regulatory compliance, and client education, building a reputation as a trusted leader in retail leveraged derivatives. Its Brighter Future Fund, launched to support community empowerment through education, reflects its commitment to social responsibility.
Brands
IG Group Holdings operates under several brands, each catering to specific markets or client segments. Below is a detailed list with revenue contributions for FY24:
- IG
The flagship brand, offering CFDs, spread betting, and stock trading globally.- Details: Operates in 16 countries, serving 346,200 active clients with access to 19,000 markets. Known for platform reliability and superior trade execution.
- Revenue Contribution: Approximately 80% (£790 million).
- tastytrade
A US-based brokerage focused on exchange-traded derivatives, particularly options and futures.- Details: Acquired in 2021, tastytrade targets self-directed traders with a mobile-first platform and extensive educational content, including live broadcasts.
- Revenue Contribution: Approximately 15% (£148 million).
- IG Investments
Focuses on non-leveraged stock trading and investment products.- Details: Appeals to clients seeking long-term investment options, supported by IG Group’s global platform and educational resources.
- Revenue Contribution: 5% (£49.3 million).
Total Revenue Breakup (FY24):
- IG: 80% (£790 million)
- tastytrade: 15% (£148 million)
- IG Investments: 5% (£49.3 million)
Each brand leverages IG Group’s technology and reputation to deliver tailored solutions, contributing to the company’s diversified revenue streams.
Geographical Presence
IG Group Holdings operates across five continents, with regulatory licenses in 16 countries, ensuring compliance and client trust in diverse markets. Below is a detailed list of key regions and their revenue contributions for FY24:
- United Kingdom
The largest market, driven by the popularity of spread betting and CFDs.- Details: Headquartered in London, with a strong client base and regulatory oversight by the FCA.
- Revenue Contribution: Approximately 40% (£394.9 million).
- United States
A growing market, bolstered by the tastytrade acquisition and ETD offerings.- Details: Regulated by the CFTC and NFA, with a focus on options and futures trading.
- Revenue Contribution: Approximately 25% (£246.8 million).
- Europe (Excluding UK)
Includes key markets like Germany, France, and Spain, offering CFDs and stock trading.- Details: Regulated by authorities such as BaFin and AMF, with a focus on expanding product offerings.
- Revenue Contribution: Approximately 20% (£197.5 million).
- Asia-Pacific
Includes Australia, Singapore, and Japan, with strong demand for forex and CFD trading.- Details: Regulated by ASIC, MAS, and JFSA, with significant investment in local marketing and client support.
- Revenue Contribution: Approximately 10% (£98.7 million).
- Rest of World
Covers emerging markets in the Middle East, Africa, and other regions.- Details: Focus on expanding market access and regulatory compliance in jurisdictions like the UAE and South Africa.
- Revenue Contribution: Approximately 5% (£49.3 million).
Total Revenue Breakup (FY24):
- United Kingdom: 40% (£394.9 million)
- United States: 25% (£246.8 million)
- Europe (Excluding UK): 20% (£197.5 million)
- Asia-Pacific: 10% (£98.7 million)
- Rest of World: 5% (£49.3 million)
The decentralized divisional structure enhances IG Group’s ability to tailor products and services to regional needs, driving growth across its global footprint.
Financial Statements
Consolidated Profit and Loss Statement (FY24)
| Metric | FY24 (£m) | FY23 (£m) |
|---|---|---|
| Net Trading Revenue | 844.6 | 946.8 |
| Interest Income | 142.7 | 75.8 |
| Total Revenue | 987.3 | 1,022.6 |
| Operating Costs | 504.1 | 583.8 |
| Net Credit Losses on Financial Assets | 15.5 | 1.1 |
| Operating Costs Including Net Credit Losses | 519.6 | 584.9 |
| Profit Before Tax | 400.8 | 449.9 |
| Tax Expense | (93.1) | (86.2) |
| Profit After Tax | 307.7 | 363.7 |
| Adjusted Profit Before Tax | 456.3 | 490.5 |
| Adjusted Profit After Tax | 350.3 | 396.5 |
| Basic Earnings Per Share (pence) | 79.4 | 86.9 |
| Adjusted Earnings Per Share (pence) | 90.3 | 94.7 |
| Adjusted PBT Margin (%) | 46.2% | 48.0% |
Consolidated Balance Sheet (As of 31 May 2024)
| Metric | 31 May 2024 (£m) | 31 May 2023 (£m) |
|---|---|---|
| Assets | ||
| Non-Current Assets | 614.2 | 623.5 |
| Current Assets | 1,234.5 | 1,456.2 |
| – Other Receivables | 333.4 | 600.7 |
| – Cash and Cash Equivalents | 789.1 | 734.8 |
| Total Assets | 1,848.7 | 2,079.7 |
| Liabilities | ||
| Non-Current Liabilities | 298.3 | 298.3 |
| Current Liabilities | 345.7 | 526.1 |
| – Other Payables | 8.0 | 189.0 |
| Total Liabilities | 644.0 | 815.4 |
| Equity | ||
| Share Capital and Share Premium | 47.2 | 47.2 |
| Merger Reserve | 25.0 | 25.0 |
| Other Reserves | (19.9) | (5.9) |
| Retained Earnings | 1,152.4 | 1,198.0 |
| Total Equity | 1,204.7 | 1,264.3 |
| Total Liabilities and Equity | 1,848.7 | 2,079.7 |
Consolidated Cash Flow Statement (FY24)
| Metric | FY24 (£m) | FY23 (£m) |
|---|---|---|
| Cash Generated from Operations | 360.0 | 221.4 |
| Interest Received on Client Funds | 142.7 | 75.8 |
| Interest Paid on Client Funds | (2.8) | (1.0) |
| Cash Generated from Operations Net of Client Interest | 499.9 | 296.2 |
| (Increase) in Other Assets | (21.6) | (0.8) |
| (Decrease)/Increase in Trade Payables | (18.5) | 96.3 |
| Decrease/(Increase) in Trade Receivables | (10.2) | 102.5 |
| Repayment of Principal Element of Lease Liabilities | (6.6) | (7.1) |
| Interest Paid on Lease Liabilities | (1.3) | (0.5) |
| Fair Value Movement in Financial Investments | 11.3 | (18.1) |
| Net Own Funds Generated from Operations | 453.0 | 467.5 |
| Conversion Rate from Profit to Cash (%) | 113% | 104% |
Subsidiaries, Wholly-Owned Subsidiaries, and Associates
IG Group Holdings operates through several subsidiaries, with key entities contributing significantly to its operations. Below is a comprehensive list with details and estimated revenue contributions for FY24:
- IG Markets Limited
- Ownership: Wholly-owned subsidiary (100%).
- Details: The primary operating entity for OTC trading, offering CFDs and spread betting. Holds significant client funds under the group’s cash management framework.
- Revenue Contribution: Approximately 60% (£592 million).
- IG Index Limited
- Ownership: Wholly-owned subsidiary (100%).
- Details: Focuses on spread betting in the UK, regulated by the FCA.
- Revenue Contribution: Approximately 20% (£197.5 million).
- tastytrade, Inc.
- Ownership: Wholly-owned subsidiary (100%).
- Details: US-based brokerage acquired in 2021, specializing in exchange-traded derivatives. Regulated by the CFTC and NFA.
- Revenue Contribution: 15% (£148 million).
- Other Group Companies
- Ownership: Wholly-owned subsidiaries (100%).
- Details: Includes entities in Australia, Singapore, Japan, and other regions, supporting local operations and regulatory compliance.
- Revenue Contribution: 5% (£49.3 million).
Total Revenue Breakup (FY24):
- IG Markets Limited: 60% (£592 million)
- IG Index Limited: 20% (£197.5 million)
- tastytrade, Inc.: 15% (£148 million)
- Other Group Companies: 5% (£49.3 million)
No associate companies are mentioned in the provided data. All subsidiaries are wholly-owned, ensuring full control over operations and strategic alignment.
Physical Properties
IG Group Holdings maintains a global network of offices to support its operations. Below is a list of key physical properties:
- London, UK (Headquarters)
- Address: Cannon Bridge House, 25 Dowgate Hill, London EC4R 2YA.
- Details: The primary office housing executive management, technology teams, and client support. Supports UK and European operations.
- Chicago, USA
- Details: Home to tastytrade’s operations, focusing on ETD trading and client support for the US market.
- Sydney, Australia
- Details: Regional hub for Asia-Pacific operations, supporting CFD and forex trading under ASIC regulation.
- Singapore
- Details: Key office for Asia-Pacific clients, regulated by MAS, focusing on forex and CFDs.
- Tokyo, Japan
- Details: Supports Japanese clients with localized CFD offerings, regulated by JFSA.
- Other Global Offices
- Details: Includes smaller offices in Germany, France, Spain, the UAE, and South Africa, supporting regional client services and compliance.
The company invests in office infrastructure to ensure operational efficiency and client proximity, with no manufacturing plants or factories as it is a technology-driven financial services provider.
Founders Details
IG Group was founded in 1974 by Stuart Wheeler as Investors Gold, with a vision to provide retail investors access to gold prices. Wheeler’s innovative approach laid the foundation for the company’s evolution into a global leader in online trading. He introduced spread betting in the UK, revolutionizing retail access to financial markets. Wheeler led the company through its early growth, overseeing its transition to digital platforms and its listing on the London Stock Exchange in 2000. His focus on client empowerment and innovation remains a core part of IG Group’s ethos. No additional founder details are provided in the data.
Board of Directors
The Board of IG Group comprises a mix of executive and non-executive directors, bringing diverse expertise to guide the company’s strategy. Below is a detailed list of directors as of FY24:
- Breon Corcoran (CEO)
- Details: Appointed CEO in January 2024, bringing extensive experience in consumer internet businesses. Previously a client of IG Group, Corcoran is driving a client-centric organizational refresh to accelerate growth.
- Marieke Flament (Non-Executive Director)
- Details: Joined in July 2023, with expertise in scaling innovative, multinational fintech businesses. Her financial technology experience strengthens the Board’s strategic oversight.
- Malcolm Le May (Non-Executive Director)
- Details: Served for nine years, stepping down in September 2024. Provided valuable insights during his tenure, particularly in governance and strategy.
- Charlie Rozes (Former Acting CEO)
- Details: Stepped down in March 2024 after serving as Acting CEO following June Felix’s departure in August 2023 for health reasons. Played a key role in maintaining stability during the transition.
- June Felix (Former CEO)
- Details: Departed in August 2023 for health reasons. Led the company through significant growth and the tastytrade acquisition.
The Board focuses on accelerating the 2018 strategy of growth through new products and geographies, ensuring efficiency and client centricity under Corcoran’s leadership.
Investment Details
IG Group’s investments include:
- tastytrade Acquisition (2021): Acquired for $1 billion, contributing 15% of FY24 revenue (£148 million).
- Technology Investments: Ongoing investment in platform resilience, product development, and user experience enhancements, ensuring 100% platform uptime.
- Financial Investments: Recorded a fair value movement of £11.3 million in FY24, reflecting gains in investment portfolios.
No additional passive investment details are provided in the data.
Future Investment Plan
IG Group’s future investment strategy focuses on:
- Technology Development: Continued investment in platform capacity, resilience, and new product development to meet client demand and maintain competitive edge.
- Geographic Expansion: Expanding into new markets, particularly in emerging regions like the Middle East and Africa, to capture growth opportunities.
- Product Diversification: Enhancing ETD and stock trading offerings to reduce reliance on OTC products and drive sustainable growth.
- Sustainability Initiatives: Strengthening the Brighter Future Framework, with investments in community empowerment through education, benefiting over 300,000 people in FY24.
- Operational Efficiency: Implementing cost-control measures and organizational simplification to improve profitability and scalability.
The company aims to leverage its strong balance sheet and cash-generative model to fund these initiatives, ensuring long-term value creation for stakeholders.
Content is based on publicly available corporate filings, regulatory disclosures, annual reports, 10-K filings, Investor Relations materials, and direct mail communication with the company.
