Stability drags on spread betting broker IG Group

Spread betting broker IG Group was weighed down by stabilising trading conditions in the last quarter.

Market volatility following Russia’s invasion of Ukraine and fears of a global recession boosted sales and client activity for trading platforms last year. However, lower market volatility resulted in lower revenue per client last quarter, the company said.

Activity in IG’S stock trading and investments division fell to prepandemic levels, even though the number of clients has since increased. Meanwhile, revenues for its over-thecounter derivatives fell by 18pc during its third quarter ending February. Total revenue for that period dropped 7pc from £257m to £239m, compared with the same quarter the year before.