IG Group#DailyFX

IG Group, originally founded as IG Index (Investors Gold Index), was founded in 1974 by British financier Stuart Wheeler with an initial investment of £30,000 from six friends.{{cite web| url =https://moneyweek.com/economy/people/601751/stuart-wheeler-the-granddaddy-of-spread-betting| title =Stuart Wheeler : the granddaddy of spread-betting| last =Lewis| first =Jane| date =2020-08-02| publisher =Money Week | access-date =2024-10-24}}{{cite news |date=2000-06-10 |title=Spread bets firm IG Index holds £110m market slip |newspaper=The Daily Telegraph|url=https://www.telegraph.co.uk/finance/4453991/Spread-bets-firm-IG-Index-holds-110m-market-slip.html |access-date= 2023-10-26}}{{cite news |author=Ben Martin |url=https://www.thetimes.com/business-money/markets/article/ig-puts-on-spread-for-staff-with-bumper-bonus-round-q3fwp8cjt |title=IG puts on spread for staff with bumper bonus round |date=25 April 2020 |access-date=14 June 2022}} It became the first company to offer spread betting,{{Cite news |last1=Zainab Hussain |first1=Noor |last2=Radhika |first2=Rukmangadhan |date= 2017-09-21 |title=IG Group's first quarter revenue jumps on expanded client base |work=Reuters |url=https://www.reuters.com/article/uk-ig-grp-hldgs-results-idUKKCN1BW0O2 |accessdate=2023-10-25}} allowing investors to speculate on gold prices rather than buying physical gold, which was restricted by UK exchange controls at the time.{{Cite news |last1=Koilparambil |first1=Aby Jose |last2=Shabong |first2=Yadarisa |date=2023-03-15 |title=UK's IG Group revenue drops in quiet Dec-Feb quarter |work=Reuters |url=https://www.reuters.com/business/finance/uks-ig-group-sees-annual-revenue-profit-line-with-market-view-2023-03-15/ |accessdate=2023-10-25}}

In 1993, IG Group expanded into spread betting on sports events, and in 1996, it started offering foreign exchange trading.

In July 2000, IG Group was formed as the parent company of IG Index, and its shares were listed on the London Stock Exchange, making it the first company of its kind to go public.{{Cite news |last=Hyland |first=Anne |date=2000-07-06 |title=Rival bookmakers bet on IG price |work=The Guardian |url=https://www.theguardian.com/business/2000/jul/06/11 |accessdate=2023-10-26 |issn=0261-3077}} Sports betting surged with the rise of the internet, bringing the company more than £10 million in revenue in the second half of 2001, nearly triple its earnings from the first half of 2000.{{cite web| url =https://www.theguardian.com/business/2000/jun/10/13| title =Chance for IG punters to cash in| last =O’Hara| first =Mary| date =2000-06-10| work =The Guardian | access-date =2024-10-25}}

IG Group entered the Australian market in 2002, marking its first international expansion.{{cite news|url=https://www.telegraph.co.uk/finance/newsbysector/epic/igg/11249693/IG-chief-predicts-end-of-market-tranquility.html|title=IG chief predicts end of market tranquillity|work=The Telegraph|date= 2014-11-24|access-date=2023-11-09}} In 2003, founder Stuart Wheeler sold his 23.68% stake in the company, netting £90 million.{{cite web| url =http://news.bbc.co.uk/2/hi/business/2675849.stm| title =Wheeler to sell IG Group stake| date =2003-01-20| publisher =BBC UK | access-date =2024-10-24}} He was joined by some other major shareholders, so a total number of shares to be sold reached 30%.{{cite web| url =https://www.fnlondon.com/articles/ig-group-ready-for-bids-as-wheeler-sells-stake-20030120| title =IG Group ready for bids as Wheeler sells stake| last1 =Basar| first1 =Shanny|last2=Townsend|first2=Piers| date =2003-01-20| publisher =Financial News | access-date =2024-10-24}} A management buyout backed by CVC Capital Partners valued the company at £143 million.{{Cite news| last = Dewson| first = Andrew| title = IG Group floats with a half-penny premium| work = Financial News| access-date = 14 November 2023| date = 2005-04-28| url = https://www.fnlondon.com/articles/ig-group-floats-with-a-half-penny-premium-20050428}} In April 2005, IG Group returned to the stock market with a valuation of £1.3 billion, and CVC sold off £58 million worth of shares.{{Cite news| title = UPDATE 1-CVC sells $90 mln stake in IG Group| work = Reuters| access-date = 2024-10-25| date =2010-05-11| url =https://www.reuters.com/article/iggroup-cvc-idUKLDE64A0RI20100511}}

The company continued its global expansion, entering the United States market in 2007 with the £2.9 million purchase of HedgeStreet, an online derivatives trading platform,{{Cite news| last1 = Turner| first1 = Lorraine| last2 = Hoskins| first2 = Paul| title = UPDATE 2-British spread-better IG buys Japan's FXOnline| work = Reuters| access-date = 2023-11-14| date = 2008-09-24| url = https://www.reuters.com/article/ig-japan-idUSLO73303720080924}} later rebranded as Nadex.{{Cite web| title = HedgeStreet Changes its Name to the North American Derivatives Exchange, Inc. (Nadex) {{!}} Nadex| access-date =2023-11-14| url = https://www.nadex.com/notices/hedgestreet-changes-its-name-north-american-derivatives-exchange-inc-nadex/}} In September 2008, IG Group acquired FXOnline, a Japanese trading firm, for £112 million.{{Cite news| last = Tucker| first = Sundeep| title = IG Group buys Japanese trader| work = Financial Times| access-date = 2023-11-10| date = 2008-09-24| url =https://www.ft.com/content/1adc6466-8a2f-11dd-a76a-0000779fd18c}}

In 2011, IG Group reported a net loss of £25.5 million, largely due to regulatory changes in Japan that restricted leverage to 10 times, significantly lower than the 100 times or more the company previously offered. The company also shut down its sports betting service, extrabet, due to declining revenues, incurring £5.3 million in closure costs.{{cite web |url=https://www.bloomberg.com/news/2011-07-19/ig-group-logs-full-year-loss-after-taking-japanese-unit-charges.html |title=IG Logs Full-Year Loss After Taking Japan-Unit Charges |author=David Altaner |publisher=Bloomberg |date= 2011-07-19 |access-date=2024-10-25}}

In September 2014, IG Group launched an online stockbroking platform, offering access to 4,500 stocks.{{cite news|url=https://www.telegraph.co.uk/finance/markets/11096390/IG-launches-online-stockbroking-platform.html|title=IG launches online stockbroking platform|newspaper=The Daily Telegraph|date=2014-09-15|access-date=2024-10-25}} In September 2016, it acquired the financial news and research portal DailyFX from FXCM for $40 million.{{cite web|url=http://www.financemagnates.com/forex/brokers/breaking-ig-group-buys-fxcm-dailyfx-40-mln/|title=Breaking: IG Group Buys DailyFX from FXCM for $40m|work=Finance Magnates|date=2016-09-30|access-date=2024-10-25}} However, the same year, IG Group's shares fell 38% following the Financial Conduct Authority's (FCA) announcement of new industry regulations, wiping £1 billion off the company's market value.{{cite web|url=http://www.financemagnates.com/forex/regulation/spread-betting-giants-attack-fca-crackdown-cmc-weighs-moving-to-germany/|title=IG Group Boss Attacks FCA Crackdown Urging Customers to Join the Battle|work=Finance Magnates|date=2016-09-30|access-date=2024-10-25}} In response, IG withdrew its binary options product in early 2017.{{cite news|url=https://www.telegraph.co.uk/business/2017/01/24/ig-group-withdraws-binary-betting-watchdog-clampdown//|title=IG Group withdraws from binary betting after watchdog clampdown|work=The Telegraph|date=2017-01-24|access-date=2024-10-25}}

In 2017, IG partnered with BlackRock to launch the IG Smart Portfolio, marking the company's entry into wealth management.{{cite web|author=Tom Eckett |url=https://www.investmentweek.co.uk/investment-week/news/3007931/ig-launches-suite-of-model-portfolios-in-partnership-with-blackrock |title=IG launches suite of model portfolios in partnership with BlackRock |work=Investment Week |date=2017-04-06 |access-date=2024-10-25}} In 2019, IG launched a new U.S. subsidiary, IG US, which offers foreign exchange trading{{Cite web|url=https://www.financemagnates.com/forex/brokers/breaking-ig-group-officially-launches-ig-us/|title=Breaking: IG Group Officially Launches IG US s|date=2019-02-01|website=Finance Magnates|language=en|access-date= 2023-11-29}} (in June 2024, IG US rebranded to tastyfx{{Cite web |date=2024-06-24 |title=IG US Takes the Plunge with Rebranding to tastyfx |url=https://www.financemagnates.com/forex/ig-us-takes-the-plunge-with-rebranding-to-tastyfx/ |access-date=2024-06-26 |website=Finance Magnates |language=en}}).

In 2020, IG Group launched its environmental, social, and governance (ESG) strategy, "Brighter Future." As part of this initiative, the company established a £2 million fund to support education and development programs for young people, particularly in response to the impact of the COVID-19 pandemic.{{cite web |url=https://www.financemagnates.com/forex/ig-group-and-teach-first-launch-2m-education-fund-due-to-covid-19-crisis/ |title=IG Group and Teach First Launch £2M Education Fund Due to Covid-19 Crisis |date=24 April 2020 |access-date=1 June 2022}}{{cite web|author=Maria Nikolova |url=https://fxnewsgroup.com/forex-news/retail-forex/ig-group-to-give-1-of-post-tax-profits-for-charity/ |title=IG Group to give 1% of post-tax profits for charity |date=14 December 2021 |access-date=1 June 2022}}{{cite web| url=https://ukinvestormagazine.co.uk/ig-group-ceo-interview-esg-diversity-and-igs-brighter-future-programme/ |title=IG Group CEO interview: ESG, diversity and IG's Brighter Future programme |date=14 December 2021 |access-date=1 May 2020}}

In January 2021, IG Group acquired Chicago-based online brokerage Tastytrade for $1 billion, enhancing its offerings for retail investors. The company, founded in 2011 by Tom Sosnoff, included the brokerage arm tastyworks, which was rebranded as tastytrade in 2023.{{Cite news| last = Thomas| first = Daniel| title = IG expands in US with $1bn Tastytrade acquisition| work = Financial Times| access-date = 2024-10-25| date = 2021-01-21| url = https://www.ft.com/content/643d4aab-71b9-40b7-8b82-4c86c5aaa2bd}}{{Cite news| last = Risley| first = James| title = Tastytrade launches brokerage to make trading easier for DIY traders {{!}} Built In Chicago| work = Built In| access-date = 2024-10-25| date = 2017-01-03| url = https://www.builtinchicago.org/2017/01/03/tastyworks-tastytrade-brokerage-launch}}{{Cite news| last = Oladipupo| first = Solomon| title = Online Broker Tastyworks Rebrands to Tastytrade| work = Finance Magnates| access-date = 2024-10-25| date = 2023-02-23| url = https://www.financemagnates.com/forex/online-broker-tastywork-rebrands-to-tastytrade/}}

In March 2022, IG Group brokered a deal to sell the North American Derivatives Exchange (Nadex) and a 39% stake in the Small Exchange to Foris DAX Markets Inc, which trades as Crypto.com, for $216 million.{{cite web |author=Tom Waite |url=https://www.morningstar.co.uk/uk/news/AN_1646222649444495600/in-brief-ig-group-completes-sale-of-nadex-to-cryptocom.aspx |title=IN BRIEF: IG Group completes sale of Nadex to crypto.com |date=2 March 2022 |access-date=7 June 2022}}{{cite web |author=Joanna Ossinger |url=https://www.bloomberg.com/news/articles/2021-12-01/crypto-com-buys-two-exchanges-from-ig-group-for-216-million |title=Crypto.com Buys IG's Stake in Citadel, Peak6-Backed Exchange |website=Bloomberg News |date=2021-12-01 |access-date=2022-06-07}}

In the first half of the 2024 fiscal year, IG Group reported a 32% drop in after-tax profits compared to the previous year.{{cite web| url =https://www.financemagnates.com/forex/ig-groups-earnings-take-a-hit-in-tough-market-falling-32-in-hy-fy24/| title =IG Group's Earnings Take a Hit in Tough Market, Falling 32% in HY FY24| last =Chmiel| first =Damian| date =2024-01-25| publisher =Finance Magnates | access-date =2024-10-25}} By the end of the 2024 fiscal year, pre-tax profits had fallen by 11%, annual revenue had dropped by 10%, and the number of active clients had decreased from 358,000 to 346,200.{{cite web| url =https://www.financemagnates.com/forex/ig-groups-fy24-profit-plummets-sides-150m-for-new-share-buyback-program/| title =IG Group's FY24 Profit Plummets: Sides £150M for New Share Buyback Program| last =Shome| first =Arnab| date =2024-07-25| publisher =Finance Magnates | access-date =2024-10-25}} In response, the company announced plans to cut 10% of its workforce{{cite web| url =https://www.reuters.com/technology/uks-ig-group-says-it-expects-cut-10-workforce-2023-10-31/| title =UK's IG Group says it expects to cut 10% of workforce| last =| first =| date =2023-10-31| publisher =Reuters | access-date =2024-10-25}} and launched a £150 million share buyback program, starting with a £75 million tranche in August 2024.{{cite web| url =https://fxnewsgroup.com/forex-news/retail-forex/ig-group-launches-second-tranche-of-share-buyback-program-2/| title =IG Group launches second tranche of share buyback program| last =Nikolova| first =Maria| date =2024-09-25| publisher =FX Group |access-date =2024-10-25}}{{cite web| url =https://www.financemagnates.com/forex/brokers/ig-group-taps-morgan-stanley-for-first-tranche-of-150-million-repurchase/| title =IG Group Taps Morgan Stanley for First Tranche of £150 Million Repurchase| last =Chmiel| first =Damian| date =2024-08-12| publisher = Finance Magnates| access-date =2024-10-25}}

IG Group is headquartered in London,{{Cite news| last = Shome| first = Arnab| title = Breaking: IG Group Names Breon Corcoran as CEO| work = Finance Magnates| access-date = 2024-02-16| date = 2023-12-08| url = https://www.financemagnates.com/executives/breaking-ig-group-names-breon-corcoran-as-ceo/}}{{cite news |author=Ben Martin|url=https://www.thetimes.com/business-money/markets/article/ig-group-pulls-plug-on-leveraged-share-bets-fd0wvjggj |title=IG Group pulls plug on leveraged share bets |date=2021-02-23 |access-date=2022-06-04}}{{cite web |url=https://register.fca.org.uk/ShPo_FirmDetailsPage?id=001b000000MfIiSAAV |title=FCA IG Markets Limited |website=Financial Conduct Authority |access-date=2019-07-09}}{{cite web |url=https://register.fca.org.uk/ShPo_FirmDetailsPage?id=001b000000MfELeAAN |title=FCA IG Index Limited |website=Financial Conduct Authority |access-date=2019-07-09}} and operates in multiple regions, including the United States, European Union, Australia, Singapore, South Africa, Switzerland, Japan, and Dubai. The company manages 18 sales offices worldwide, providing clients with access to 19,000 financial markets.{{cite web| url =https://markets.ft.com/data/equities/tearsheet/profile?s=IGG:LSE| title =IG Group Holdings PLC| publisher =Financial Times | access-date =2024-10-16}}{{Cite web| title = Where we operate| work = IG Group| access-date = 2024-02-20| url = https://www.iggroup.com/about-us/where-we-operate}} IG Group is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.{{cite web |url=http://www.ftse.com/analytics/factsheets/Home/DownloadConstituentsWeights/?indexdetails=MCX |title=FTSE 250 - Indicative Index Weight Data as at Closing on 31 December 2014 |date=2014-12-31 |format=PDF |publisher=FTSE |access-date=2015-05-10 |archive-url=https://web.archive.org/web/20190224174342/https://www.ftse.com/analytics/factsheets/Home/DownloadConstituentsWeights/?indexdetails=MCX |archive-date=2019-02-24 |url-status=dead }} As of October 2024, the company's market value is £3.4 billion.{{cite web| url =https://www.londonstockexchange.com/stock/IGG/ig-group-holdings-plc/company-page| title =IG Group Holdings Plc| publisher =London Stock Exchange | access-date =2024-10-25}}

IG Group offers a range of leveraged and investment products, varying by region due to differing national regulations.{{cite news |author=Ben Martin|url=https://www.thetimes.com/business-money/markets/article/ig-group-boss-is-betting-that-global-expansion-can-be-its-game-changer-frwz6s82p |title=IG Group boss is betting that global expansion can be its game-changer |date=2020-04-25 |access-date=2024-02-21}} In EU, the company provides turbo warrants, while in the United States, through its acquisition of tastytrade, it offers options, futures, and cryptocurrency trading tailored to individual investors.{{Cite news| last = Oladipupo| first = Solomon| title = IG Group's American Arm Joins FIA, Expands Its Global Trading Network| work = Finance Magnates| access-date = 2024-02-21| date = 2023-08-30| url = https://www.financemagnates.com/forex/ig-groups-american-arm-joins-fia-expands-its-global-trading-network/}}{{cite news |date=2022-03-17 |title=Online Summary 2022 |work=Brand and reputation, IG annual report |url=https://annualreport.iggroup.com/}}{{cite news |author=Ben Martin|url=https://www.thetimes.com/business-money/markets/article/ig-group-boss-is-betting-that-global-expansion-can-be-its-game-changer-frwz6s82p |title=IG Group boss is betting that global expansion can be its game-changer |date=2020-04-25 |access-date=2022-06-14}}

Tim Howkins, who served as Chief Financial Officer before becoming CEO in October 2006, led the company for nine years before retiring in 2015.{{cite web |url=https://www.cityam.com/ig-group-chief-exec-tim-howkins-quit-group-and-retire-october/ |title=IG Group chief exec Tim Howkins to quit group and retire in October |date=21 July 2015 |access-date=7 June 2022}} Peter Hetherington succeeded him as CEO in October 2015, having initially joined IG Group as a graduate trainee in 1994. Hetherington stepped down in September 2018.{{cite web |author=Maria Nikolova |url=https://financefeeds.com/peter-hetherington-step-ceo-ig-group/ |title=Peter Hetherington to Step down as CEO of IG Group |date=2018-09-27 |access-date=2022-06-07}}

In October 2018, IG Group appointed June Felix as CEO.{{cite news|url=https://www.reuters.com/article/ig-grp-hldgs-ceo/update-2-ig-group-appoints-ex-citi-and-ibm-executive-as-first-female-ceo-idUSL3N1XA36Q|title=IG Group appoints ex-Citi and IBM executive as first female CEO|work=Reuters|date=2018-10-30|access-date=2018-10-31}} Felix had previously served as a non-executive director for three years before joining the board.{{cite web |author=Hannah Finch |url=https://www.business-live.co.uk/professional-services/18-women-leading-top-firms-23201786 |title=The 18 women leading top firms in the FTSE 350 in 2022 |date=2022-02-25 |access-date=2022-06-07}} Due to health issues, Felix resigned in December 2023, and Breon Corcoran was appointed as the new CEO.{{cite news|url=https://www.standard.co.uk/business/city-trading-house-ig-group-picks-exbetfair-boss-corcoran-as-new-ceo-b1125635.html|title=City trading house IG Group picks ex-Betfair boss Corcoran as new CEO|date=2023-12-08|newspaper=The Evening Standard|access-date=2024-10-25}}

IG Group has faced criticism in the media regarding its handling of customer losses. Natalia Chumak, a partner at litigation City firm Signature Litigation, noted that customers trading with IG Group can incur unlimited losses, while the company does not always make this risk clear. She also pointed out that IG Group may avoid certain risks but benefits from any gains.{{cite web| url =https://www.euromoney.com/article/b12kmgpqpp266q/spread-betting-poster-child-ig-in-the-line-of-fire-post-snb| title = Spread-betting poster-child IG in the line of fire post-SNB | last =Khalique| first =Farah| date =2015-07-06| publisher =Euromoney | access-date= 2024-10-25}}

In March 2021, FinanceFeeds and Financial Magnates reported frequent outages of IG Group's trading system during periods of high trade volume.{{cite web |url=https://www.financemagnates.com/forex/brokers/ig-group-experiences-further-platform-issues/ |title=Clients of IG Group Suffer System-Wide Outage, Broker Says Back to Normal |author=Aziz Abdel-Qader |date=21 May 2020 |publisher=Finance Magnates |accessdate=3 March 2021}}{{cite web |url=https://www.financemagnates.com/forex/brokers/ig-group-experiences-further-platform-issues/ |title=IG Group Experiences Further Platform Issues |author=Celeste |date=2020-05-22 |publisher=Finance Magnates |accessdate= 2020-03-03}} These outages left clients unable to manage their positions, resulting in financial losses. FinanceFeeds also reported that during a significant outage in January 2021, IG Group did not provide adequate customer support, although it responded promptly to media inquiries to address public concerns.{{cite web |url=https://financefeeds.com/ig-group-platform-crashes-yet-traders-left-cold/ |title=IG Group platform crashes yet again, with traders being left out in the cold |author=FinanceFeeds |date=2021-01-29 |publisher=FinanceFeeds |accessdate= 2021-03-03}}

In April 2024, another system failure led to funds being mistakenly withdrawn from the accounts of over 50 customers. The issue remained unresolved for more than a week until it gained media attention. In contrast, the company has been reported to correct over-credited funds in client accounts on the same day.{{cite web| url =https://www.morningstar.co.uk/uk/news/AN_1714143397761760900/press-ig-group-faces-criticism-after-clients-hit-by-refunding-errors.aspx| title =PRESS: IG Group faces criticism after clients hit by refunding errors| last =| first =| date =2024-04-26| publisher =Morning Star | access-date =2024-10-25}}{{cite web| url =https://www.ft.com/content/a5a34e16-0eec-4dbc-932d-69b239cee6ff| title =IG Group clients hit by refund errors| last =Hickey| first =Sally| date =2024-04-26| publisher =Financial Times | access-date =2024-10-25}}

IG Group's founder, Stuart Wheeler, was actively involved in politics and made several notable donations. His financial contributions, particularly to the Brexit campaign, earned him a nickname of a "a leading disrupter in British politics".{{cite web| url=https://www.financemagnates.com/forex/analysis/i-gamble-because-im-good-at-it-says-ig-founder-in-new-book/| title="I Gamble Because I'm Good at It," Says IG Founder in New Book| last=Kimberley| first=David| date=2019-09-30| publisher=Finance Magnates | access-date=2024-10-25}}

In 2010, IG Index, IG Group's spread betting firm, faced a £21 million (€25 million) lawsuit filed by three former clients of the defunct Scottish trading firm Echelon Wealth Management.{{cite web| url =https://www.independent.co.uk/news/business/news/echelon-clients-bring-lawsuit-against-ig-2142076.html| title =Echelon clients bring lawsuit against IG| last =Clark| first =Nick| date =2010-11-24| publisher =Independent | access-date =2024-10-25}}{{cite web| url =https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8155047/IG-Index-hit-with-21.4m-lawsuit-by-clients-of-defunct-broker-Echelon-Wealth-Management.html| title = IG Index hit with £21.4m lawsuit by clients of defunct broker Echelon Wealth Management | last =Wilson| first =Harry| date =2010-11-24| publisher =The Telegraph | access-date =2024-10-24}} The clients believed that their funds had been ring-fenced in segregated IG deposit accounts. However, following Echelon’s collapse, IG used these funds to cover other Echelon clients' losses.{{cite web| url =https://www.independent.co.uk/news/business/news/the-city-diary-ig-s-high-court-silence-2145538.html| title =The City Diary: IG's High Court silence| date =2010-11-28| publisher =Independent | access-date =2024-10-25}} The claim was dismissed in 2020.{{cite web| url =https://www.reuters.com/article/business/media-telecom/ig-group-says-court-dismisses-2010-claim-against-ig-markets-idUSWLB0022K/| title =IG Group says court dismisses 2010 claim against IG Markets| date =2013-03-27| publisher =Reuters | access-date =2024-10-25}}

In January 2015, more than 370 clients incurred significant losses following a failure of IG's trading platform during a volatile market event. On 15 January, the Swiss National Bank (SNB) unexpectedly removed its minimum exchange rate for the Swiss franc, causing a 30% drop in EUR/CHF. IG delayed its response by 10 minutes, attempting to hedge its own exposure while competitors acted immediately to protect their clients. Additionally, technical issues on the platform required manual execution of stop-loss orders, further amplifying client losses.{{cite web| url =https://www.signaturelitigation.com/natalia-chumak-featured-in-euromoney-re-ig-group-and-black-thursday/| title =Spread-betting poster-child IG in the line of fire post-SNB| last =Khalique| first =Farah| date =2015-07-07| publisher = Euromoney| access-date =2024-10-25}}{{cite web| url =https://www.fx-markets.com/foreign-exchange/2400581/ig-under-fire-from-clients-with-huge-negative-balances| title =IG under fire from clients with huge negative balances| last =Szalay| first =Eva| date =2015-03-19| publisher =FX Markets | access-date =2024-10-25}}{{cite web| url =https://www.standard.co.uk/business/business-news/ig-group-vows-to-learn-as-it-loses-ps30-million-from-swiss-franc-surge-9990363.html| title =IG Group vows to learn as it loses £30 million from Swiss franc surge| last =Lynch| first =Russel| date =2015-01-20| publisher =Standard Co UK | access-date =2024-10-25}} Some affected clients were left with substantial debts, with one teacher on a £18,000 salary losing £280,000. Despite these incidents, IG maintained that it had fulfilled its contractual obligations.{{cite web| url = https://www.independent.co.uk/news/business/comment/letting-customers-rack-up-losses-is-bad-for-business-10406234.html | title =Letting customers rack up losses is bad for business| last =Moore| first =James| date =2015-07-22| work =The Independent | access-date =2024-10-25}}{{cite news|url=https://www.independent.co.uk/news/business/analysis-and-features/how-could-a-teacher-on-18000pa-lose-280000-spread-betting-10115157.html|title=How could a teacher on £18,000pa lose £280,000 spread betting?|newspaper=Independent.co.uk|date=2015-03-18|access-date=2024-10-25}} In June 2015, the Financial Ombudsman Service ordered IG to compensate affected customers £1 million.{{cite web| url =https://www.bloomberg.com/news/articles/2015-10-07/ig-group-repays-1-5-million-to-clients-over-swiss-franc-turmoil| title =IG Group Repays $1.5 Million to Clients Over Swiss Franc Turmoil| last =Morris| first =Stephen| date =2015-10-07| publisher =Bloomberg | access-date =2024-10-25}}

As of October 2024, IG Group faces two lawsuits in Australia, alleging misleading and unconscionable conduct. In May 2023, the law firm Piper Alderman filed a class-action lawsuit against IG Markets, accusing the company of promoting Contracts for Difference (CFDs) to inexperienced traders without proper safeguards.{{cite web| url =https://www.financemagnates.com/forex/brokers/cfds-at-trial-ic-markets-faces-class-action-lawsuit-in-australia/| title =CFDs on Trial: IC Markets Faces Class-Action Lawsuit in Australia| last =Shome| first =Arnab| date =2024-02-08| publisher =Finance Markets | access-date =2024-10-25}} A second class action was filed in August 2023 against IG Markets Limited and IG Australia Pty Ltd, alleging that from May 2017 to August 2023, IG misled retail investors by promoting high-risk financial products, such as CFDs and binary options, which were deemed unsuitable and harmful by the Australian Securities and Investments Commission (ASIC). The legal action is being funded by Woodsford.{{cite web| url =https://woodsford.com/class-action-filed-against-ig-markets-in-relation-to-offering-of-risky-financial-products/| title =Class action filed against IG Markets in relation to offering of risky financial products| date =2023-08-15| publisher =Woodford | access-date =2024-10-25}}{{cite web| url =https://www.lawyersweekly.com.au/biglaw/37941-ig-markets-faces-another-class-action-over-highly-risky-financial-products| title =IG Markets faces another class action over 'highly risky' financial products| last =Bragg| first =Jon| date =2023-08-17| publisher =Lawyers Weekly | access-date =2024-10-25}}

During its history, IG Group signed some notable sponsorship deals:

• The company sponsored Getafe CF football club in the 2010–2011 Spanish season.{{cite web |url=http://www.rankia.com/blog/cfds-igmarkets-cfd/542945-ig-markets-patrocinador-getafe-cf-sad |title= IG Markets, patrocinador del Getafe CF SAD |date=23 August 2010 |website=Rankia.com |language=es |access-date=10 May 2015}}
• In November 2010, IG Markets signed a sponsorship deal to support Team Sky professional cycling team in 2011.{{cite web |url=http://www.cyclingnews.com/news/sky-announces-new-co-sponsor |title=Sky announces new co-sponsor |first1=Hedwig |last1=Kröner |date=18 November 2010 |website=Cyclingnews.com |access-date=10 May 2015}}
• In December 2010, IG Markets announced sponsorship of two stages of Santos Tour Down Under cycling race in 2011.{{cite web |url=http://www.glamadelaide.com.au/main/ig-markets-sponsors-two-stages-of-santos-tour-down-under/ |title=IG Markets Sponsors Two Stages of Santos Tour Down Under |first1=Kelly |last1=Noble |date=10 December 2010 |publisher=Glam Adelaide |access-date=10 May 2015}}
• In October 2013, IG signed a sponsorship deal with Harlequin rugby team for the next three years.{{cite web |url=http://www.rugbynetwork.net/boards/read/s98.htm?100,14384844 |title=Quins sign new sponsorship deal |first1=Nunquam |last1=Dormio |date=16 October 2013 |website=RugbyNetwork.com |access-date=10 May 2015}} In September 2014, the deal was updated to make IG one of three major sponsors for the team.{{cite web |url=http://www.quins.co.uk/news/harlequins-announces-ig-as-principal-partne/ |title=Harlequins announces IG as Principal Partner |date=4 September 2014 |website=Quins.co.uk |access-date=10 May 2015}}
• In May 2015, IG Group became a partner of Melbourne Football Club for 2015 and 2016.{{cite web |url=http://leaprate.com/2015/05/ig-partners-with-melbourne-football-club/ |title=IG partners with Melbourne Football Club |first1=Maria |last1=Nikolova |date=5 May 2015 |publisher=LeapRate |access-date=10 May 2015}}
• In May 2021, IG Group became a partner of England Cricket Club for 2021 and 2022.{{Citation |title=Performance Specification for Mens and Boys Knitted and Woven Beachwear and Sports Shirt Fabrics |url=http://dx.doi.org/10.1520/d4154 |publisher=ASTM International |doi=10.1520/d4154 |access-date=8 September 2022|url-access=subscription }}
• In February 2024, IG Group entered into a 10-year naming rights agreement for an upcoming sports and entertainment arena in Nagoya, Japan.{{cite web| url =https://www.financemagnates.com/forex/ig-group-aichi-arena-corp-aeg-ink-naming-rights-deal-for-sports-arena-in-japan/| title =IG Group, Aichi Arena Corp, and AEG Ink Naming Rights Deal for Sports Arena in Japan| last =Kirui| first =Jared| date =2024-02-08| publisher =Finance Magnates | access-date =2024-10-18}}{{cite web| url =https://www.hollywoodreporter.com/news/general-news/aeg-nagoya-japan-arena-naming-rights-deal-1235819767/| title =AEG Seals Naming-Rights Deal for New Arena in Japan| last =Barnes| first =Mike| date =2024-02-08| publisher =The Hollywood Reporter | access-date =2024-10-25}}

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Category:Financial services companies based in the City of London

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