Net trading revenue of GBP209mln was generated in the three months to August 31, 2020, the first quarter of the FTSE 250 group’s financial year.
This was 62% higher than the same period in the prior year, compared to 63% growth in the fourth quarter of its past year.
Most of the revenue was from OTC leveraged clients, up 59% to GBP195.1mln, with the largest growth being for IG’s relatively new stockbroking and investments arm, up more than threefold to GBP7.6mln, while exchange-traded derivatives rose 64% to GBP6.3mln.
There were 201,500 active clients in the period, up 50% on the prior year, of which 134,800 clients traded leveraged products in the quarter compared to 92,300 a year earlier.
Like rivals CMC Markets and Plus500, IG continues to pick up new clients, which it attributed to “continued demand and improved marketing effectiveness across multiple channels”.
IG said 34,600 new clients placed a first trade in the quarter, 129% higher than the prior year, with 23,500 of these representing new OTC leveraged clients, with new client retention rates from the past two quarters are similar to the historical average.
Chief executive June Felix said it was “a great start to the year”, and although there was some moderation from the exceptional performance in the preceding quarter, the first quarter results showed IG’s continued strength across the core markets, while also highlighting the growth potential in its significant opportunities markets, which include the USA, Japan and institutional sales.
IG shares rose 7% to 847.49p in early trade on Thursday.