Recent developments (2021–present)
In January 2021, IG Group acquired Chicago-based online brokerage Tastytrade for $1 billion, enhancing its offerings for retail investors. The company, founded in 2011 by Tom Sosnoff, included the brokerage arm tastyworks, which was rebranded as tastytrade in 2023.[30][31][32]
In March 2022, IG Group brokered a deal to sell the North American Derivatives Exchange (Nadex) and a 39% stake in the Small Exchange to Foris DAX Markets Inc. (trading as Crypto.com) for $216 million.[33][34]
In the first half of the 2024 fiscal year, IG Group reported a 32% drop in after-tax profits compared to the previous year.[35] By the end of the 2024 fiscal year, pre-tax profits had fallen by 11%, annual revenue had dropped by 10%, and the number of active clients had decreased from 358,000 to 346,200.[36] In response, the company announced plans to cut 10% of its workforce[37] and launched a £150 million share buyback program, starting with a £75 million tranche in August 2024.[38][39]
In January 2025, it announced the acquisition of Freetrade, a UK-based commission-free trading app, for £160 million.[40] The deal, completed on 1 April 2025, more than doubled the company's active client base to approximately 820,000 by the end of FY2025.[40] In June 2025, IG launched direct cryptocurrency trading for its UK clients.[40] In September 2025, IG agreed to acquire Independent Reserve, a regulated cryptocurrency exchange based in Australia. The transaction, valued at around A$178 million for a 70% stake, received regulatory approval in January 2026 and was then completed, with Independent Reserve's founders retaining the remaining 30% interest[41]. Around the same time, IG obtained a cryptoasset registration from the UK FCA allowing it to expand into spot crypto trading in its home market. Also in October 2025, IG sold its interest in the Small Exchange (the U.S.-based futures exchange it had acquired in 2019) to Payward, parent company of crypto exchange Kraken, for $100 million.[42]
The company's financial performance rebounded alongside these initiatives. For the year ended 31 May 2025, IG Group reported an adjusted pre-tax profit of £535.8 million, up 17% year-on-year, driven by higher trading volumes amid market volatility.[40] The company authorized a new £125 million share buyback in July 2025, later expanding the program by another £75 million to a total of £200 million by the end of 2025.[40]
In June 2025, the company closed South African client accounts, cut jobs, and surrendered its local Over-the-Counter Derivative Provider licence and, in February 2026, it began closing its office there.[43]
