IG Group's revenues are up 28%

IG Group is not a classic retail Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term broker like FXCM or Interbank FX because larger portion of its business is coming from spread betting, CFDs and binary options. However this is still a positive sign for the Forex industry indicating that the market is still growing and that Forex firms can still make money despite the lower Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term. This is also in-line with the report that Forex volumes are on the rise again in Q2 2009.

IG Group reported revenue for the quarter to end-August of 68m versus 53m the prior year. While London's branch revenue increased by 4% only this was overcompensated by the German, French, Singapore and US offices revenue of which increased by 80%.

IG Group's Japanese subsidiary - FXOnline - still managed to grow amid the newly imposed low leverage requirements and the increased competition, mainly due to introduction of new trading instruments such as CFDs and binary options which are relatively new in Japan.

During the period the Group opened over 21,000 financial accounts, an increase of 72% on the number opened in the corresponding period of the prior year. Excluding FXOnline, the like-for-like increase was 23%, driven principally by increases in the rate of account opening in the UK and Australia.

Interim Management Statement for the period is embedded for your convinience below:

ig group Q2 report -