IG Group Shares Plunge Most in a Decade on Revenue Shortfall

Shares in the online trading firm IG Group experienced their largest one-day sell-off in a decade after a surprise slump in revenues.

The FTSE 100 company, which is the world's first spread-betting firm, reported that its third-quarter sales fell 14 percent year-over-year to £240 million. Consequently, IG Group now anticipates full-year revenues to grow in the 'mid-single-digit' percentage range, a downward revision from its previous target of 10 percent to 15 percent expansion.

IG Group's stock fell 27 percent in early trading on October 3, 2026, before closing down 23 percent at 990p, reaching its lowest level since April of the previous year. The decline was mirrored across the industry, with shares in Plus 500 and CMC Markets also experiencing significant drops.

IG Group CEO Breon Corcoran attributed the downturn to "less supportive market conditions" during the third quarter. This occurred despite significant volatility in financial markets, typically a factor that would boost trading platforms like IG due to increased customer activity. However, a revamped hedging strategy led to a decrease in revenue retention within its 'over-the-counter' (OTC) division, from approximately 80 percent to around 70 percent.

This marks the second notable share price drop for IG Group in recent months. In late July, disappointing half-year results coincided with the company's acquisition of US prediction markets business Underdog for nearly £1 billion.

Corcoran, who assumed leadership in 2024 and oversaw the company's entry into the FTSE 100 in March of this year, stated that "Growth in first trades and active customers remained strong." He reiterated that the lower revenue was a reflection of reduced OTC revenue retention amidst less favorable market conditions.

IG Group was originally founded in 1974 as Investors Gold Index by Stuart Wheeler, allowing speculation on gold prices without physical bullion transactions. The company expanded its offerings to include sports betting and foreign exchange, eventually becoming one of the country's largest trading groups. It became the first spread-betting company to list on the London stock market in 2000.