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IG Group Released a Promising Note for 2016 Results

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Leading CFD and forex broker IG Group just published an update on its operational and financial results for the fiscal the fourth fiscal quarter of 2016. As you may know, IG closes each fiscal year on May 31st. The release is thus referring to the period from Mach 1st to May 31Th 2016, which correspond to the results of the fourth fiscal quarter of 2016 for the broker. The trading update indicates that the business performed well during what was a quiet quarter on the markets. IG officials believes that Q4 operating and financial metrics are likely to come ahead of expectations, which could lead to record results for the whole fiscal year of 2016. While Q4 final numbers will only be released on July 27th, the broker wanted to publish a statement that would reassure investors after several competitors missing on their own earnings.

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Strong results and performance for IG in Q4

The trading update indicates that variable operating costs have experienced a strong growth in the last part of the year. Most of these costs are related to increased spending on online marketing and the development of new products. You may have noticed that IG has been particularly boosting its online fingerprint both on social media and leading search engines. Nevertheless, this rise in variable costs was more than offset by strong trading revenues and ongoing momentum in new active trader numbers. IG officials now expect full year 2016 fiscal earnings to be slightly ahead of expectations following 3 robust quarters (respectively £106, £109 and £122 millions in revenues in Q1, Q2 and Q3).

IG bets on diversification: pensions, stockbroking and binary options

As we repeatedly mentioned it on this website, IG has been officially launching a set of new products and platforms over the last quarters. The group signed an agreement with pensions provider James Hay in order to develop self-invested personal pensions (SIPPs) for IG clients. The broker although spent a lot to grow and improve its stockbroking platform with the offering of Individual Savings Account (ISA) for UK residents. Last but least, IG also made a big entrance in the binary options industry via its subsidiary IG Binary. It is the first binary options broker to be overseen by an FCA registered investment company.

Don’t hesitate to have a look at our IG Binary Review and our ETX Binary review for more information on the leading FCA regulated binary options brokers.

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