IG Group To Offer Crypto Trading To Retail Clients

IG Group is preparing to launch spot cryptocurrency trading for retail clients in the UK. This new service will let users buy and hold digital assets directly, instead of just trading on price movements through CFDs. It’s a shift from the company’s current crypto offering, which is only available to institutional clients. The trading will take place on IG’s existing platform.

The firm said the service will include over 30 cryptocurrencies, such as Bitcoin, Ether, XRP, and several well-known meme coins. Clients will be able to trade crypto alongside stocks, forex, and other markets. IG wants to give retail traders more control and access, all from one place. The company believes this will help clients manage their portfolios more easily.

IG Partners With Uphold To Launch Regulated Crypto Trading

IG has partnered with Uphold, a US-based firm that is regulated in both the UK and the US. Uphold will process the crypto trades and act as custodian for the assets. The firm said this partnership helps IG offer crypto trading within a secure and regulated setup. It also supports the platform’s focus on safety and reliability.

Michael Healy, IG’s UK Managing Director, said the launch is an important step for the company and for crypto in the UK. He revealed that the new service gives retail clients a way to trade digital assets with a platform they already trust. IG sees this as a clear next step in its range of services.

Demand for crypto in the UK has grown in the last two years. A YouGov survey found that 14% of UK adults had purchased crypto two years ago, up from just 6% in 2022. The firm said this increase shows strong interest among retail traders. IG wants to meet that demand with a simple and regulated option.

Clients Can Now Hold Digital Assets Directly On IG, Not Just Trade CFDs

The recent launch comes at a time when the UK is tightening its crypto rules. The Financial Conduct Authority wants to ban the use of credit cards to buy crypto. Lawmakers are also working on new rules to improve oversight of crypto firms. IG said its new product is being built with these changes in mind.

IG stopped offering crypto CFDs to UK retail clients in early 2021 after the firm was banned by the FCA on crypto derivatives. Since then, the company has focused on offering crypto CFDs only to institutions. The firm said this time away helped it better prepare for a retail-focused service.

Currently, IG offers CFDs on 11 cryptocurrencies, mostly the larger ones. The new spot service will expand access to more digital assets. Clients will no longer need to trade just on market moves—they’ll be able to hold the assets in their accounts.

IG said this approach gives traders more flexibility. Instead of moving between apps or providers, clients can manage crypto and other trades in one place. The company believes that combining digital assets with its existing platform will give users a smoother experience.

Other companies are also moving into crypto trading. Crypto.com recently hired several former IG employees to grow its CFDs business. The firm said this shows how active the space has become. IG wants to stay ahead by offering trusted access through a platform that retail traders already know.

With this launch, IG is re-entering the retail crypto market with a stronger setup than before. It sees a chance to serve clients who want safe and direct access to digital assets. The company said it plans to keep improving the service as the market and rules continue to change.