The global online trading platform IG Group Holdings plc today issued its update on its net trading revenue for the second quarter of the financial year 2021, which ended on 30 November 2020.
Following a strong first quarter, in the second quarter of the FY21, the brokerage saw total revenue of around £207 million. The group registered £209 in the first quarter of the financial year, which is slightly more than Q2. However, the Q2 was still up 71.4% year-on-year compared to £120.8 million in Q2 FY20.
IG’s performance is largely driven by elevated trading volumes across a larger, total active client base. This is also reflected in the number of newly joined traders.
In Q2, the brokerage registered 207,000 total active clients in the period. In Q1, the total active clients were 201,500 total active clients with almost 3% increase since then. On yearly basis, the number jumped 54.7% compared to 133,800 clients in Q2 FY20, benefitting from a continuation of strong client acquisition.
The second quarter of the financial year was marginally lower than the first one, the year-on-year performance of Q2 is better than the Q1 which saw a 62% YoY increase trading revenue and in the Q4 of FY2020, the London-based broker doubled net its revenue.
IG Group also reported that it is expecting net trading revenue for the first six months of the current financial year to reach around £416 million, up from the previous year’s £249.9 million.
