Brexit measures have impacted the company’s results from its home markets in the UK and Ireland.
IG Group (LON:IGG) has just reported some financial metrics for the first quarter of fiscal 2016 in a trading statement. The company has announced that it generated a 5.1 per cent increase in revenues when compared to the same period last year, with the total figure amounting to £111.4 million ($145 million).
The result is rather positive due to the comparably lower Volatility during the period with the VIX index dropping to its lowest levels in July and August. With the first quarter of the year being relatively stagnant in terms of trading opportunities, IG Group's revenues from the UK and Ireland was very slightly lower when compared to Q1 of fiscal 2016.
The main reason for the decline were the measures that IG Group took in the run-up to the UK’s EU membership referendum. The company significantly raised margin requirements for its clients in order to protect the firm and its clients for the excessive volatility.
New and Active Clients Grow as Revenues Per User Decline Led by UK
The amount of new clients that opened accounts with the company has remained strong during the period with the number of active accounts increasing by 18 per cent when compared to Q1 2016. That said, the revenues per client (RPC) metrics have declined by 11 per cent when compared to the same period last year.
Looking at the regional distribution in Key Performance Indicators (KPIs) the firm has seen the most of its user growth coming from its home market of the UK and Ireland at 24 per cent, however the decline in RPC was also more pronounced at 21 per cent.
Business was mostly flat to slightly higher in Australia with annual growth in active users increasing by 1.5 per cent in tandem with growth in RPC at 7.4 per cent.
Growth in Europe continued, with the number of active clients rising by 18 per cent, outpacing a decline in RPC totaling 4.5 per cent.
Recently the company launched its Limited Risk Account offering which aims to maximize long term value for clients who are not so adept at managing their risk/reward balances. IG Group also introduced stockbroking to Australia, which is set to increase the range of trading opportunities for its clients in the region and increase demand for the firm’s product.
The company also shared in its trading update that the level of new client first trades has increased substantially, outpacing last year’s figures by 70 per cent, a figure which is related to IG Group’s optimized marketing spending.
Late June was the peak for new client accounts openings as pre- and post-Brexit volatility roiled the markets.
IG Group (LON:IGG) has just reported some financial metrics for the first quarter of fiscal 2016 in a trading statement. The company has announced that it generated a 5.1 per cent increase in revenues when compared to the same period last year, with the total figure amounting to £111.4 million ($145 million).
The result is rather positive due to the comparably lower Volatility during the period with the VIX index dropping to its lowest levels in July and August. With the first quarter of the year being relatively stagnant in terms of trading opportunities, IG Group's revenues from the UK and Ireland was very slightly lower when compared to Q1 of fiscal 2016.
The main reason for the decline were the measures that IG Group took in the run-up to the UK’s EU membership referendum. The company significantly raised margin requirements for its clients in order to protect the firm and its clients for the excessive volatility.
New and Active Clients Grow as Revenues Per User Decline Led by UK
The amount of new clients that opened accounts with the company has remained strong during the period with the number of active accounts increasing by 18 per cent when compared to Q1 2016. That said, the revenues per client (RPC) metrics have declined by 11 per cent when compared to the same period last year.
Looking at the regional distribution in Key Performance Indicators (KPIs) the firm has seen the most of its user growth coming from its home market of the UK and Ireland at 24 per cent, however the decline in RPC was also more pronounced at 21 per cent.
Business was mostly flat to slightly higher in Australia with annual growth in active users increasing by 1.5 per cent in tandem with growth in RPC at 7.4 per cent.
Growth in Europe continued, with the number of active clients rising by 18 per cent, outpacing a decline in RPC totaling 4.5 per cent.
Recently the company launched its Limited Risk Account offering which aims to maximize long term value for clients who are not so adept at managing their risk/reward balances. IG Group also introduced stockbroking to Australia, which is set to increase the range of trading opportunities for its clients in the region and increase demand for the firm’s product.
The company also shared in its trading update that the level of new client first trades has increased substantially, outpacing last year’s figures by 70 per cent, a figure which is related to IG Group’s optimized marketing spending.
Late June was the peak for new client accounts openings as pre- and post-Brexit volatility roiled the markets.
UK Chancellor Jeremy Hunt Clashes with FCA over Controversial “Name and Shame” Policy
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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