Brief

IG Group shares tumble up to 25% after cutting revenue growth targets

The online trader warned of a 14% revenue drop and lower OTC retention, while first‑trade activity rose 25% year‑on‑year.

By Felo News Desk · Published Fri, 02 Oct 2026 10:46:53 GMT

IG Group, the London‑based online trading firm, saw its shares fall as much as a quarter after it reduced its 2026 revenue growth outlook, according to both the Independent and the Evening Standard.

What happened

The company told investors that total revenues for the three months to the end of September are expected to be around £240 million, a 14% year‑on‑year decline. It revised its guidance from a 10‑15% growth range to a "mid‑single‑digit per cent" increase for the full year, citing "less supportive market conditions" in Q3 2026.

Revenue retention in its over‑the‑counter (OTC) division fell to 70%, down from an average of about 80% since the second half of 2025. The board said it remains confident that measures will improve OTC retention over the medium to long term, though short‑term variability is expected to increase.

Despite the revenue dip, IG reported that organic first trades were up 25% year on year, and active customer growth stayed strong in Q3 2026.

What the reports add

The Independent noted that the share price drop was the steepest in more than a year, while the Evening Standard echoed the same figures for revenue guidance and OTC retention, without adding further detail.

What was said

Breon Corcoran, chief executive of IG, said: "Growth in first trades and active customers remained strong in Q3 2026. Lower Q3 revenue …" (quoted by both outlets).

How it came about

IG Group, which also owns the Freetrade brand, had previously guided to double‑digit revenue growth for 2026. The revision follows a broader slowdown in market conditions that affected its OTC business, prompting the company to adjust its outlook and reassure investors about longer‑term retention strategies.

Key facts

IG Group shares fell up to 25% after cutting 2026 revenue growth targets (independent.co.uk)
The firm now expects total revenues of about £240 million for Q3 2026, down 14% year on year (independent.co.uk)
OTC revenue retention dropped to 70% from an average of around 80% since H2 2025 (independent.co.uk)
Organic first trades were up 25% year on year (independent.co.uk)
CEO Breon Corcoran said first‑trade and active‑customer growth remained strong in Q3 2026 (independent.co.uk)