London, March 21, 2026, 19:27 GMT
IG Group shares closed out Friday at 1,450 pence, holding onto most of the previous day’s rally after the online trading firm said it’s looking at a possible U.S. listing as part of its strategic review. Thursday saw the stock surge 6.25%, touching 1,477 pence at its peak, and notching an intraday jump of up to 8.6%, as IG Group also announced a £125 million buyback. 1
IG is set to join the FTSE 100 next week, putting a spotlight on the firm just as London faces mounting pressure to stop listed companies from heading abroad in search of more capital. The company also raised its 2026 revenue growth guidance, now aiming for the upper end of its mid-to-high single-digit target, with recent market volatility fueling higher client activity. 1
The board’s review covers acquisitions, a potential shift in IG’s headquarters or share listing, and options for combining parts of the business with other firms in the sector. Management expects to present next steps during its strategy update in the autumn. 2
IG, after moving its fiscal year-end to Dec. 31, reported numbers for a seven-month transition stretch, stacked next to calendar-year figures. For 2025, total revenue hit a record £1.123 billion, up 7%. Net trading revenue jumped 10% to £1.005 billion. EBITDA ticked 1% higher, landing at £531.1 million. Adjusted EPS came in at 115.3 pence, a 5% increase. 2
Revenue for the quarter ending March 31 is set to come in at roughly £300 million, a 7% increase on the prior year, as volatility boosted activity across asset classes and pulled in more clients—particularly in March. The Freetrade acquisition sent reported active customers soaring, more than doubling the figure. Strip out acquisitions, and the number of active customers still climbed 10%, hitting 298,800 by the end of February. As for client assets on the platform, those reached £19.5 billion. 2
“Record financial results and accelerating customer growth” highlight IG’s platform strength, Chief Executive Breon Corcoran said. The review, he added, aims to “maximise shareholder value.” 2
The scope of the review remains up in the air. “A very fast-growing and a highly dynamic market,” is how Michael Healy, IG’s UK and Ireland managing director, described the U.S. in comments to Reuters. Still, he made it clear no decisions are on the table yet, and the company hasn’t specified if any changes would involve a shift of its main listing or simply tacking on a U.S. line. 1
The story in the U.S. isn’t only about valuation. Prediction markets—where contracts track real-world outcomes—are on the rise, shaped more like gaming platforms than traditional brokerages. Plus500, which competes with IG, has teamed up with Kalshi. IG, for its part, already pulls in roughly a quarter of its revenue stateside. Its offerings include contracts for difference—leveraged wagers on price swings that don’t require holding the actual asset—plus cash equities and crypto, running through brands such as tastytrade and Freetrade. 1
Barclays analyst Richard Taylor described the review as “a sign of greater ambition from a position of increased strength and credibility.” Investors have shown some patience with management—after a subdued Friday, shares remained up roughly 6.9% for the week. 1
But risks remain. U.S. lawmakers are taking a closer look at prediction markets, and IG has noted it expects 2026 EBITDA to stay roughly in line with current consensus, despite ongoing investment in growth. Shares have already climbed 52.7% in the last year, so if volatility eases off or the autumn review doesn’t deliver a clear catalyst, pushing the rally further could get tougher. 1
