The broker started offering spot cryptocurrencies in the UK and Ireland last June.
Crypto traders in the British Isles are far more lucrative than those in the US.
IG Group (LON: IGG) generated £0.3 million in revenue from spot cryptocurrency trading between June and August, the company revealed in its latest financial filing. The total number of active monthly crypto traders also reached 9,700.
According to the broker’s latest financials, it generated £0.1 million in trading revenue from spot crypto in the UK and Ireland, while the figure was double at £0.2 million in the US.
Interestingly, there were only 500 monthly active crypto traders in the UK and Ireland. In the US, the figure was 9,200, meaning that crypto traders on IG in the UK and Ireland are far more lucrative than those in the US.
When it comes to first-time crypto traders—meaning traders who opened their first crypto trade—IG attracted 900 in the UK and Ireland. In the US, the figure was 1,800.
Breon Corcoran, CEO of IG Group
Demand for crypto trading on IG has surged. Net crypto trading revenue in the country doubled, while the average number of monthly active customers jumped 37 per cent year on year and 9 per cent quarter on quarter.
It should be noted that tastytrade expanded its range of tradable cryptocurrencies from four to 23 last fiscal year and enabled cryptocurrency deposits and withdrawals for seven digital assets.
An Acquisition Reveals the Big Plans
Meanwhile, IG’s interest in capturing the cryptocurrency market became clearer recently when it announced an agreement to acquire a majority stake in Independent Reserve, an Australia- and Singapore-regulated crypto exchange, for an initial enterprise value of A$178 million (£86.8 million).
Independent Reserve generated A$35.3 million in revenue in FY25, a substantial increase from the previous year’s A$18.8 million. It also reported EBITDA of A$9.9 million with a 28.2 per cent margin. It has 129,400 funded accounts with A$1.7 billion in assets under custody and an average of 11,600 monthly active customers.
Pending regulatory approval, IG will initially buy a 70 per cent stake in the crypto exchange and will have a call option to purchase the remaining 30 per cent from the exchange’s leadership and employees, based on its performance in FY27 and FY28.
IG Group (LON: IGG) generated £0.3 million in revenue from spot cryptocurrency trading between June and August, the company revealed in its latest financial filing. The total number of active monthly crypto traders also reached 9,700.
According to the broker’s latest financials, it generated £0.1 million in trading revenue from spot crypto in the UK and Ireland, while the figure was double at £0.2 million in the US.
Interestingly, there were only 500 monthly active crypto traders in the UK and Ireland. In the US, the figure was 9,200, meaning that crypto traders on IG in the UK and Ireland are far more lucrative than those in the US.
When it comes to first-time crypto traders—meaning traders who opened their first crypto trade—IG attracted 900 in the UK and Ireland. In the US, the figure was 1,800.
Breon Corcoran, CEO of IG Group
Demand for crypto trading on IG has surged. Net crypto trading revenue in the country doubled, while the average number of monthly active customers jumped 37 per cent year on year and 9 per cent quarter on quarter.
It should be noted that tastytrade expanded its range of tradable cryptocurrencies from four to 23 last fiscal year and enabled cryptocurrency deposits and withdrawals for seven digital assets.
An Acquisition Reveals the Big Plans
Meanwhile, IG’s interest in capturing the cryptocurrency market became clearer recently when it announced an agreement to acquire a majority stake in Independent Reserve, an Australia- and Singapore-regulated crypto exchange, for an initial enterprise value of A$178 million (£86.8 million).
Independent Reserve generated A$35.3 million in revenue in FY25, a substantial increase from the previous year’s A$18.8 million. It also reported EBITDA of A$9.9 million with a 28.2 per cent margin. It has 129,400 funded accounts with A$1.7 billion in assets under custody and an average of 11,600 monthly active customers.
Pending regulatory approval, IG will initially buy a 70 per cent stake in the crypto exchange and will have a call option to purchase the remaining 30 per cent from the exchange’s leadership and employees, based on its performance in FY27 and FY28.
Arnab Shome is an electronics engineer-turned-financial editor. He holds a Bachelor of Technology from the National Institute of Technology, Agartala. He entered the retail trading industry about a decade ago, covering the cryptocurrency market for Finance Magnates, and later expanded his coverage to include forex and CFDs as well.
His work at Finance Magnates includes C-level interviews, data-driven analysis, opinion pieces, and scoops of industry exclusives. He also contributes to Finance Magnates’ quarterly industry report.
Area of coverage:
1. CFD broker-related news
2. Industry-related Regulatory updates and developments
3. New retail trading trends
4. Prop trading industry updates
5. Executive interviews
Education:
Bachelor of Technology - National Institute of Technology, Agartala (India)
Revenue Drop and Costs Push Vantos Markets UK into £153k Annual Loss
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