IG Group shares slump after revenue targets cut

Online trading firm IG Group saw shares slump by as much as a quarter after it slashed its growth targets.

Shares in the FTSE 100 company dropped to their lowest level for more than a year after it was impacted by “less supportive market conditions” in the third quarter of 2026.

As a result, London-based IG told investors it expects total revenues to have grown by a “mid-single-digit per cent” for 2026, having previously guided to growth of 10% and 15%.

It said it expects to report total revenues of around £240 million for the three months to end of September, down 14% year on year.

The drop was linked to a slump in revenue retention across its “over-the-counter” (OTC) division, which fell to 70%, having averaged at around 80% since the second half of 2025.

“The board remains confident that these measures will structurally increase OTC revenue retention over the medium to long term, albeit with greater expected short-term variability,” the company said.

IG, which also owns the Freetrade brand, said organic first trades were however up 25% year on year.

Breon Corcoran, chief executive of IG, said: “Growth in first trades and active customers remained strong in Q3 2026.

“Lower Q3 revenue reflected reduced OTC (over the counter) revenue retention in less supportive market conditions, and I remain confident in meeting our medium-term guidance.”

Shares in the company were down 22.4% at 993p on Friday morning.