Major international trading company closing down in South Africa

The IG Group has decided to close its commercial operations in South Africa by 28 July 2025.

The IG Group is a world-leading online trading provider based in London that gives investors access to opportunities across thousands of financial markets.

The company’s website states that IG Markets South Africa will no longer provide trading accounts. It clarifies that this change does not affect existing international/offshore accounts. 

IG has had a long-standing relationship with South Africa. Established in 2010, IG Markets South Africa is regulated by the FSCA and has operated with an FAIS license for over a decade. 

The company’s office in South Africa has a dual purpose: to give South African traders access to thousands of financial markets and to provide an operations hub that provides services to the wider IG Group.

Over the last twelve years, IG has received numerous industry awards, including SA’s Top CFD Broker, Intellidex Top Securities Brokers Awards 2021, and SA’s Best CFD Provider in 2020.

BusinessTech reported that, in an email sent to clients, the group said it discontinued its domestic trading accounts denominated in rands. 

“This decision wasn’t made lightly, and our priority is supporting you through a smooth transition,” the email said.

“We have decided to offer an extended notice period of 60 days to provide you with additional flexibility in determining when you want to close out your open positions.”

Daily Investor contacted the IG Group for comment but did not receive a response by the time of publication.