Moving faster

IG GROUP HOLDINGS PLC
ANNUAL REPORT 2025
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Introduction

IG Group is a global trading and investment platform on a mission to unlock the potential of every customer.

We are an established member of the FTSE 250 and hold a long-term investment grade credit rating.

2025 Highlights

Our year in summary

A snapshot of our year
The Group delivered strong financial results in FY25, reflecting supportive market conditions and good initial strategic progress. Our focus was on executing on the priorities we outlined in July 2024 which are to enhance our product, embed a high-performance culture across the business and increase efficiency.

Our strategy is delivering good early results, as evidenced by stronger new customer acquisition. We were pleased to complete the acquisition of Freetrade and we returned over £397 million of capital to shareholders through dividends and buybacks. Our progress gives us confidence that our strategy is working and will deliver a step change in growth.

Download Financial Highlights 2025
Non-Financial
Platform uptime
0%
(FY24: 100%)
Active clients
0
(FY24: 346,200)
Financial Perfromance1
Total revenue2
£0m
(FY24: £987.3m)
Basic earnings per share3
0p
(FY24: 79.4p)
Dividend per share
0p
(FY24: £46.2p)
Share buyback announced4
£0m
(FY24: xxp)
Profit before tax5
£0m
(FY24: £400.8m)
Net own funds generated
from operations
0m
(FY24: 350.1m)
Financial Performance1
Total revenue2
£0m
(FY24: £987.3m)
Basic earnings per share3
0p
(FY24: 79.4p)
Dividend per share
0p
(FY24: £46.2p)
Share buyback announced4
£0m
(FY24: xxp)
Profit before tax5
£0m
(FY24: £400.8m)
Net own funds generated
from operations
0m
(FY24: 350.1m)
See appendices for reconciliation to statutory measures.
1. Numbers are presented on a continuing operations basis.
2. Total revenue is calculated as net trading revenue plus net interest income. See appendices for reconciliation.
3. On an adjusted basis, FY25 earnings per share was 114.1 pence (FY24: 90.3 pence).
4. Represents the value of share buyback announced at our full year results on 24 July 2025.
5. On an adjusted basis profit before tax was £535.8 million (FY24: £456.3 million).
See appendices for reconciliation to statutory measures.
1. Numbers are presented on a continuing operations basis.
2. Total revenue is calculated as net trading revenue plus net interest income. See appendices for reconciliation.
3. On an adjusted basis, FY25 earnings per share was 114.1 pence (FY24: 90.3 pence).
4. Represents the value of share buyback announced at our full year results on 24 July 2025.
5. On an adjusted basis profit before tax was £535.8 million (FY24: £456.3 million).

Laying the foundations for stronger growth

We delivered strong results in FY25 reflecting supportive market conditions and good strategic progress.

Download Chair's Statement

We made good initial progress implementing our strategy in FY25.”

Mike McTighe, Chairman

Working hard to unlock our potential

Our focus has been on executing on our strategic priorities which are to improve our product, embed a high-performance culture across the business and enhance efficiency.

Download Chief Executive Officer's Statement

We have taken initial steps to realise our potential by laying the foundations for stronger growth.”

Breon Corcoran, Chief Executive Officer

Executing on our growth strategy

I am pleased to report that we delivered strong financial results in FY25 reflecting supportive market conditions and good initial progress implementing our strategy.

We remain focused on executing on our strategic priorities and, as we do so, I am confident that we will compete more effectively, broaden our addressable market and deliver a step change in growth.”

Clifford Abrahams, Chief Financial Officer

Laying the foundations for stronger growth

We delivered strong results in FY25 reflecting favourable market conditions and good strategic progress.

Download Chair's Statement

We have made good progress implementing our growth strategy in FY25.”

Mike McTighe, Chairman

Working hard to unlock our potential

I am pleased to say we made good initial progress delivering on these objectives in FY25, particularly in the second half.

Download Chief Executive Officer's Statement

We have taken initial steps to realise our potential by laying the foundations for stronger growth."

Breon Corcoran, Chief Executive Officer

Executing on our growth strategy

I am pleased to report that we delivered strong financial results in FY25 reflecting supportive market conditions and good initial progress implementing our strategy.

We remain focused on executing on our strategic priorities and, as we do so, I am confident that we will compete more effectively, broaden our addressable market and deliver a step change in growth.”

Clifford Abrahams, Chief Financial Officer
INVESTMENT CASE

A strong case for investment

Our strategy
Is to deliver sustainably stronger growth through expansion into new products and new geographies. The business is well positioned to deliver on the strategy, with a significant presence in large, growing markets around the world, a well-established brand and a strong financial position.

Download Investment Case
01
Large and growing target 
addressable markets
  • Target markets benefiting from strong structural growth drivers, including the growing popularity of self-directed trading and investing as well as intergenerational wealth transfer
  • Closing product gaps and simplifying customer experience to take market share
  • Opportunity to penetrate fast-growing new product adjacencies
12,000 +
Well placed to benefit from the structural shift towards self-directed trading and investing
02
Delivering on self-help measures to unlock our potential
  • Lowering fixed costs to enhance scalability via digital servicing and automation
  • Increasing conversion of customer fee and commission income to net trading revenue while enhancing customer experience
  • Exiting initiatives delivering unacceptable returns
55%
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03
Well positioned to win
  • Leading global provider of retail OTC derivatives
  • Relevant footprint in the large and fastgrowing retail options and futures market in the United States via tastytrade
  • Strengthening our crypto and stock trading and investments offering to add new revenue streams and enhance customer acquisition and retention
  • Strong track record of compliance and risk management with regulatory licences in 16 countries
55%
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04
Attractive total shareholder 
return potential
  • Strong balance sheet and cash generation provide capacity to invest organically in growth, evaluate value-enhancing acquisitions and return capital to shareholders via dividends and buybacks
  • Clearly articulated capital allocation framework
  • Management team with a strong track record of successful acquisition execution and integration
266,000
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Customer proposition

Why our clients choose us

Providing an outstanding service to customers is at the heart of everything we do.

Download Customer Proposition

Our proposition is differentiated in many ways, including:

Broad market access

We provide access to over 19,000 instruments globally including indices, single name equities, commodities, foreign exchange and digital assets.

Platform reliability

We pride ourselves on the reliability of our platform in all market conditions. We continually invest in adding capacity to ensure we can deal with periods of exceptionally high demand. Our platforms are available when customers need them most. Technology threats are ever-evolving, and we have  robust governance and risk mitigation frameworks in place to manage these accordingly.

Superior trade execution

Many of our customers are active traders, often dealing multiple times a day, and they demand high-quality, ultra low latency trade execution. In our OTC business this year, we filled 99% of orders at our clients’ desired price or better.

Customer service

We are available to assist our customers at the time they want, via their preferred channel. We provide support ranging from interaction with a Chatbot or WhatsApp through to a phone call with our customer service team. We aim to build strong relationships to support our customers on their trading and investment journey.

Reputation

Our strong reputation for reliable, high-quality service has been built over decades and we have earned the trust of our clients to safeguard their assets.

Content and education

We have a wide range of tools, content and education for all levels of experience. We want our clients to learn and develop with us, making more informed decisions as they go.

business model

A business model with huge growth potential

Download Business Model

Technology

Market-leading technology is fundamental to the success of our business. High-quality and reliable trading platforms have earned us a strong reputation and differentiate our offering. Continued investment is necessary to maintain and extend our competitive advantage, including in the following areas

  • Resilience – our customers want to access their accounts and have the ability to trade at any time. We continually invest in capacity to deal with high demand and enhance resilience against external threats
  • Product development – we must develop and deliver new products and services aligned to clients’ evolving needs with pace, rigour and intensity
  • Customer experience – we must get closer to our customers, understand their needs and build our products and features around demand

Brand and reputation

Our brand and reputation are differentiated as a result of ongoing investment in the following areas:

  • Trading platform – we provide exceptional liquidity and low latency execution, supplemented by value added content and research tools
  • Customer centricity – we are available to help our customers when they need us via their preferred channel
  • Strong risk management –  a laser focus on risk management has been central to our success for more than five decades

People and culture

Our people are empowered to lead and inspire, think big, champion the client, deliver at pace and raise the bar. Our target behaviours have been clearly articulated across the business and create a framework for engagement and performance management.

Financial capacity

We have a long track record of revenue growth at attractive margins and deliver consistently strong cash conversion. This allows us to invest in organic growth, evaluate accretive acquisition opportunities and return capital to shareholders via dividends and share buybacks.

OTC

IG pioneered the retail over-the-counter (OTC) derivatives category, and we are the largest provider of these products to retail traders worldwide. Our platform provides access to over 19,000 underlying instruments globally. IG’s superior liquidity, low latency execution, broad range of tradable instruments and content and analytical tools differentiate our proposition. Our OTC business model is differentiated from competitors and is key to our long-term success. Internalisation – IG is the counterparty to OTC trades executed on our platform. We centralise the market risk resulting from customer dealing activity worldwide and offset positions to determine our net real-time exposure. As a result of our scale, the vast majority of trades offset as customers take opposing positions. External hedging – once trades have been offset, we are left with residual market risk, which we manage within Board-approved tolerance levels. If exposure approaches our limit, we begin hedging passively to reduce our risk. In the event that we reach this limit, we hedge aggressively to eliminate additional exposure. Our market risk management model aligns IG with our customers. Our revenue is driven by spread, commission and overnight funding charges, it is not driven by client losses. We want our customers to trade successfully and we invest in content, education and tools to help them do so.

Stock trading and investments

Our stock trading and investments offering provides access to over 12,000 equities, exchange traded funds and fixed income products worldwide, including fractional shares, mutual funds, UK Treasury bills, UK tax wrappers, securities lending and proxy voting services across the IG Invest and Freetrade platforms. IG Smart Portfolios enables clients to invest in off-the-shelf baskets designed by BlackRock, at a fraction of the cost of traditional wealth management.

We have an extensive product roadmap that will further enhance our offering to ensure that we provide everything a self-directed trader and investor needs.

Futures and options

Our US business, tastytrade, is one of the fastest growing parts of the Group. Our primary focus is on simplifying our offerings and increasing share of the large and rapidly expanding US retail options and futures market.

Crypto

In May 2025, we launched our cash crypto trading platform in the UK which now provides access to 35 of the most heavily traded coins. Throughout the course of the year, we also expanded our offering in the US from four to 23 coins and enabled cryptocurrency deposits and withdrawals for seven digital assets. We are working hard to close gaps in our crypto offering in other markets around the world.

Content and education

We provide content and education to support customers with their trading and investing activity. Through our Trade Live with IG and tastylive channels, we broadcast over ten hours of live programming each day, featuring market updates, expert analysis, educational webinars, and tutorials. We also offer comprehensive content, education and support tools such as signals, analytics and charting applications alongside proprietary insights into the positioning of our most successful traders.

Our awards
and recognition

Our progress and commitment to sustainability continues to be recognised around the globe with a number of awards and ratings. We are particularly proud to have maintained our status as a Living Wage employer in the UK, to have been recognised as a Top Employer in the UK and in South Africa. We are also a constituent of the FTSE4Good Index, improving our overall score in the process.