IG Group reported £240.5 million of third-quarter 2026 revenue at its 22 October Capital Markets Event, down 14% year on year and 21% from the preceding quarter. The additional detail followed its 2 October trading update and explained how growth in customers coexisted with weaker trading income retained by the group.[1]
Q3 financial performance
| Measure | Q3 2025 | Q3 2026 | Reported change |
|---|---|---|---|
| Total revenue | £280.1m | £240.5m | −14% |
| Net trading revenue | £249.5m | £212.3m | −15% |
| OTC derivatives net trading revenue | £189.9m | £156.1m | −18% |
| Stock trading and investments revenue | £19.7m | £13.6m | −31% |
| Net interest income | £30.5m | £28.2m | −8% |
OTC customer income grew approximately 8%, but the return-to-volume ratio was 70%. IG defines that ratio as the conversion of gross customer fee and commission income into net trading revenue. Hedging and market-making outcomes therefore matter alongside customer activity. The group cited an approximately 80% average following measures introduced in the second half of 2025; it did not describe that as a guaranteed quarterly level.[1]
Customer and asset measures use different bases
| Measure | Comparison | Q3 or September 2026 |
|---|---|---|
| Group unique monthly active customers | 741,500 in Q3 2025 | 864,700 |
| Organic continuing-operation active customers | 281,000 in Q3 2025 | 328,700; +17% |
| Organic first trades | 25,900 in Q3 2025 | 33,100; +28% |
| Group assets under administration | £21.5bn at 30 June 2026 | £22.4bn at 30 September 2026 |
The three divisions and the next product stages
IG Consumer is extending its multi-product retail proposition; IG Securities is developing liquidity provision, prime brokerage and white-label services; tastytrade is broadening its US active-trader offering. These strategic divisions are distinct from the geographic reporting columns in the quarterly appendix.[1]
Current products and conditional next steps
| Development | Status stated on 22 October |
|---|---|
| Unified UK trading, investing and crypto platform | Live |
| Financial prediction markets for UK professional clients | Planned for Q4 2026 |
| Politics, entertainment and sport markets | Early 2027 ambition following a UK gambling-licence application |
| Jersey redomicile | Late 2026 or early 2027 expected, subject to court approval and other conditions |
| Underdog acquisition | Completion targeted for late 2026 or early 2027; not yet completed |
IG retained its 2026 outlook for mid-single-digit revenue growth and an EBITDA margin in the low 40s, excluding approximately £30 million of non-recurring redomicile and restructuring costs and acquisition-related expenses. Its standalone medium-term targets remain at least 10% organic revenue CAGR from a roughly £1.1 billion 2025 base and a margin in the mid 40s over time, rather than in a specified year.[1]
The figures show why the distinction between customer growth and monetisation is central to this update. A larger user base and higher assets do not translate mechanically into net trading revenue, particularly when the OTC retention ratio and the acquired-business perimeter change.[1]
Sources & further reading
- Capital Markets Event and Q3 2026 trading update IG Group Holdings plc · 22 Oct 2026 · Accessed 26 Oct 2026