Plus500 says trading in line, seeks to reassure after IG Group warning

(Sharecast News) - Plus500 said on Friday that trading was in line with expectations as it sought to reassure investors after a warning from IG Group that a tough third quarter had hit annual revenues sent its shares tumbling.

In a brief update, the company said it continued to perform strongly in the third quarter, building on the record financial results and strategic progress delivered in the first half.

"Plus500 confirms that it continues to trade in-line with current market expectations for FY 2026 and maintains a strong cash position, as previously communicated on 10 August 2026," it said. "The group's proprietary risk management framework has been through various market cycles over the years and has demonstrated an established and robust track record over time."

Plus500 is due to publish a full third-quarter trading update later this month.

The statement came after IG Group said total revenues were expected to have fallen by around 14% in the three months to 30 September, to £240m.

IG attributed the slide to lower over-the-counter revenue retention in its core derivatives business, which fell to 70% from the 80% averaged since the introduction of market-making optimisation measures at the end of the last year.

As a result, IG now expects total 2026 revenues growth to be in the mid-single digit percentage range year-on-year, down from guidance in May of growth of between 10% and 15%. Prior to the update, consensus had been for total revenues of £1.26bn in 2026, following a 7% uplift in 2025 to £1.12bn.

At 1120 BST, IG shares were 22.3% lower at 994p, while CMC Markets was down 9.4% at 596p. Plus500 shares were off earlier lows, down 4.8% at 3,252p.

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