After recently approving a shift in its financial year end from May 31 to calendar year reporting, leading UK based online brokerage IG Group (LON:IGG) reported its first set of results under the new arrangement, which included record Revenue and Profit figures for 2025.

The results release included news of a major Strategic Review at IG. The review will look at (among other things) where the now-London based and listed company continues to be domiciled, and where its shares will trade in the future.

Record financial performance for calendar 2025

• Total revenue increased 7% to a record £1,123.4 million (2024: £1,052.2 million), or 6% to £1,095.5 million on an organic, continuing operations basis (2024: £1,030.4 million).
• Net trading revenue grew 10% to £1,004.6 million (2024: £910.6 million), or 10% to £982.0 million on an organic, continuing operations basis (2024: £889.2 million).
• EBITDA increased 1% to £531.1 million (2024: £525.0 million), with margins remaining strong at 47.3% (2024: 49.9%) despite lower interest income as rates declined and as the Group increased investment in propositions, marketing and strategic initiatives to drive longer-term growth and scalability.
• Adjusted EPS increased 5% to 115.3 pence, supported by ongoing share buybacks.
• New share buyback programme of £125.0 million announced today.

Strategic progress

• Significant progress against the strategic priorities set out in July 2024: building a scalable, multi-asset trading and investments platform, lowering cost to serve and embedding a high-performance culture.
• First trades increased 81% to 128.8k (2024: 71.1k). On an organic, continuing operations basis, first trades increased 54% to 103.8k (2024: 67.3k).
• Active customers increased 174% to 742.1k (2024: 270.3k), driven by the acquisition of Freetrade. On an organic, continuing operations basis, active customers increased 6% to 281.3k (2024: 266.1k).

Strategic review launched

IG said that it operates in large, fast-growing markets, being reshaped by structural drivers including technology and the convergence of trading, investing and gaming-adjacent experiences. Accelerating customer growth and record financial results highlight the strength of IG’s platform. The Board is today announcing a strategic review to ensure IG captures the full long-term opportunity ahead.

The review will evaluate routes to maximise shareholder value, including, but not limited to, acquisitions to accelerate growth, IG’s domicile and listing venues to unlock capital and enhance strategic flexibility, and potential combinations of parts of the Group with other industry participants.

The outcome of the review will be announced at a Strategy Update in autumn 2026.

Trading update for 2026

IG is also providing a trading update for the three months to 28 February 2026. This period corresponds to Q3 of the Group’s former May year end, and is provided to support comparability during the transition to a December year end.

• Total revenue increased 2% to £274.2 million (prior year: £267.9 million) and was stable at £266.0 million on an organic, continuing operations basis (prior year: £264.6 million).
• Net trading revenue increased 5% to £247.2 million (prior year: £235.3 million), or 4% to £240.8 million on an organic, continuing operations basis (prior year: £232.1 million).
• First trades increased 92% to 50.6k (prior year: 26.3k), or 57% to 40.8k on an organic, continuing operations basis (prior year: 26.1k).
• Active customers increased 176% to 753.0k (prior year: 273.1k), driven by the acquisition of Freetrade. On an organic, continuing operations basis, active customers up 10% to 298.8k (prior year: 271.0k).
• Assets under administration on the IG platform reached £19.5 billion at the end of February 2026, up 7% on a reported basis and 4% organically compared with 31 December 2025. Assets under administration includes all products outside the Group’s OTC derivatives business.

During the period, IG expanded the Freetrade product offering with the launch of zero-commission mutual funds, now comprising over 760 funds across 40 fund managers, and zero-commission SIPPs.

On 30 January 2026, the Group completed the acquisition of Independent Reserve, a leading Australian cryptocurrency exchange. In March 2026, we launched a spot crypto proposition on IG’s platform in Australia, powered by Independent Reserve, with plans to extend the offering to customers in Singapore and the UAE in the second half of 2026.

2026 outlook

IG said that it enters 2026 with strong momentum and current trading in line with the Group’s expectations. Total reported revenue for the three months to 31 March 2026 is expected to be approximately £300 million, up around 7% year on year, driven by elevated volatility across a range of asset classes, accelerating active customer growth and strong engagement on our platform – particularly in March.

This builds on a 2025 in which organic total revenue reached approximately £1,100 million, excluding Freetrade’s £24.2 million contribution, surpassing prior guidance of approximately £1,075 million as trading conditions strengthened through the end of December. From this higher base, IG now expects 2026 organic total revenue growth towards the top end of our mid-to-high single-digit target range, excluding contributions from Freetrade and Independent Reserve.

On a reported basis, 2026 total revenue will also reflect a full 12 months of Freetrade, compared with nine months in 2025, and approximately 11 months of Independent Reserve, consolidated from 30 January 2026. For reference, 2025 pro forma total revenue was £32.2 million for Freetrade and £19.3 million for Independent Reserve.

Group net interest income in 2026 is expected to be approximately £110 million based on current rate expectations.

The Group expects 2026 EBITDA broadly in line with current consensus of £538.1 million, assuming market conditions broadly consistent with 2025, and is comfortable with consensus adjusted EPS of 119.5 pence. Consensus forecasts are available on the IG Group investor relations website.

The Group will provide a trading update alongside its Annual General Meeting on 19 May 2026.

Medium-term guidance

Beyond 2026, the Group expects organic total revenue growth towards the top end of the guided range.

Group EBITDA margins are expected to be sustained in a mid-40s percentage range as investment in growth is offset by structurally declining cost to serve, enabled by AI, digital servicing and automation.

The outcome of the strategic review will be presented at a Strategy Update in autumn 2026.

Breon Corcoran, IG Group CEO said,

“Record financial results and accelerating customer growth demonstrate the strength of IG’s platform. We operate in large and fast-growing markets being reshaped by structural drivers, and now is the time to raise our ambitions. Today we are launching a strategic review to ensure IG captures the full long-term opportunity ahead – evaluating routes to maximise shareholder value.”

IG financial summary for 2025

IG Group’s full release on calendar 2025 results can be found here.