IG Group slashes 2026 guidance after weak third quarter, shares plunge 27%

IG Group cut its 2026 revenue growth forecast on Friday after weak market conditions hurt retention in its over-the-counter derivatives business, sending the FTSE 100 firm’s shares down more than 27%.

The London-based online trading platform now expects 2026 revenue growth in a mid-single-digit percentage range year-on-year, down from the 10% to 15% guidance it set in May, Reuters reported. Shares were down 23.8% at 975 pence by 0743 GMT, on track for their worst day since December 2016 if losses persisted, the Wall Street Journal added.

Third-quarter revenue is expected to be about £240 million ($317 million), down roughly 14% year-on-year, as weaker market conditions reduced OTC revenue retention to around 70%.

The update follows plans announced in September to cut a significant number of jobs as part of a reorganisation aimed at improving efficiency. The company said it remained confident of meeting its medium-term outlook beyond 2026, and pointed to underlying strength: first trades and active customers kept growing, with OTC customer income up around 8%.

Chief executive Breon Corcoran said: “Growth in first trades and active customers remained strong in the third quarter. Lower third-quarter revenue reflected reduced OTC revenue retention in less supportive market conditions, and I remain confident in meeting our medium-term guidance,” Sharecast reported.

Company-compiled consensus had forecast 2026 revenue of £1.26 billion, up 12% from 2025’s £1.12 billion. Shares in rivals Plus500 and CMC Markets fell between 7% and 10%.