If the announcements from the Forex industry are anything to go by, it would seem that our industry (along with maybe car mechanics and alcohol distributers) is one of the only to be booming despite the on-going global financial crisis. One of the announcements that particularly caught our eyes recently was made by IG Group, who announced that revenues were up an impressive 18% between December of 2012 and March of 2013.
According to the company’s own data analysis department IG Group performed uniformly well across all the markets it has an active hand in. Some of the more impressive results were a 10% revenue increase in the Australian market and a whopping 15% increase in the U.K! See the table below for more information.
In a statement recently made by the company the focus was on the company’s on-going technological innovation, with which is has sought to make trading easier and quicker for its clients. The launch of the company’s smart device app was a big step, as was the IG Markets Goggle Chrome add-on. As well as these new applications the company also instituted click0through trading from landing pages to dealing room, a Bloomberg trading terminal and also the ability for traders to receive push alerts on their smart devices. Australia was also a big feature in the report, the cumulative effects of all of the company’s recent technological developments being a very impressing 19% increase in Australian market share.
Where other binary options brokers offering retail trades are having difficulty operating in regulatory black-out (many having already withdrawn from the US market until the CFTC reviews their licensing), IG Markets actually grew, winning over a great deal of the lost custom following the withdrawal of many binary brokers from the US. IG Markets is privileged to be a licensed and fully regulated exchange of binaries. Their Nadex system is rapidly becoming the standard in binary options trading (in the U.S at least) until the regulatory kerfuffle surrounding other binary options brokers is put to bed. The company has, however, been effected by the Italian tide that is beginning to turn on the issue of binary options, while they have not had their IP blocked to Italian customers like many other binary brokers did this last month, they have been subject to an increased tax on cash equities that has led to them having to adjust the prices of some of their Italian equities.
All in all, factoring in both the good and the bad that the industry has had to contend with in the past year, IG Group, and their trading arm IG Markets seem to be doing very well in an increasingly uncertain climate and seem to be very confident in their continued future growth. Technology seems to be the key for this company and we salute this approach, investing heavily in the future development of the trading services it offers is one way to guarantee that as the topology of the online trading world changes, they will be right there, leading the way.
George Milios is the founder of onlineforextrading.net, the binary options and forex news portal which is dedicated to providing you with all the information you need to successfully trade.