IG Group Holdings plc (LON: IGG), has launched its execution-only stockbroking offering in the Netherlands. This moves enables its Dutch retail clients to manage an increasing proportion of their investments on a single platform.
IG Group first launched its stockbroking offering in the UK and Ireland six months ago and says it has been well-received by new and existing clients.
From a business strategy point of view, the initiative seems focused on diversifying IG’s revenue stream from being primarily focused on active daily traders to more passive stock investors while also extending its existing product line in a natural way.
When presenting its stockbroking initiative to shareholders last July, IG Group exhibited data showing that 59% of spreadbetting and CFD traders in the UK also trade shares online. By cross- selling to this segment of clients it already has a relationship with the group and can lower its dependence on spreading forex and CFDs.
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The group says it is committed to rolling out the product across many of its global locations in the coming years. The launch in its Dutch office is the first of three planned country launches in the next 12 months.
The new IG stockbroking platform provides retail investors with real-time transparent pricing, sourced from multiple pricing venues, and access to a number of international stock markets.
The platform offers live pricing on over 4,500 shares and is supported by analytical tools, charting, market news and videos. It is also available via a diverse suite of phone and tablet apps. As a launch promotion, IG’s clients will also be able to trade commission-free during their first month of online trading before July 1, 2015.
Claudio Serra, Director of IG Netherlands, explained: ‘In today’s fast moving financial markets, every second counts.With IG’s stockbroking platform, investors are able find relevant information, including real-time tradable prices, and place orders in just a few clicks from their desktops or their mobile and tablet devices. The addition of stockbroking to our platform, alongside our CFD offering, gives investors the chance to trade multiple financial products in one place on the same platform.’