IG has announced on its community forum that PayPal will no
longer be available as a payment option for users in the UK. This change
follows discussions with the Financial Conduct Authority (FCA), prompting IG to
revise its payment methods.

Switch to Apple Pay

Users will need to explore alternative options for funding
and withdrawing from their accounts. IG suggests using Apple Pay as a viable
alternative. Apple Pay provides instant transactions and high authorization
rates, ensuring a smooth experience.

An administrator writes: “This decision follows discussions
with the FCA and has led us to adjust our payment methods. Rest assured, we
have alternative options in place for funding and withdrawing from your
account. We suggest utilizing Apple Pay, which offers instant transactions with
high authorization rates for a smooth experience.”

For any questions or concerns regarding this change, users
are advised to reach out to IG directly.

IG Subsidiaries FY23 Results

Earlier, three
British subsidiaries of IG Group have released their fiscal year 2023
(FY23) financial data, as Finance
Magnates reported. For two companies, results were worse than the previous
year, while one saw a notable increase in profitability.

Reports from IG Markets Limited, IG Index Limited, and IG
Trading and Investments Limited are available in the British Companies House
register. IG Markets, which provides over-the-counter (OTC) trading services,
saw its trading revenue fall to £405.2 million from £453.6 million the previous
year.

Its net profit decreased to £171.3 million from £188.2 million,
attributed to inflation, higher interest rates, and market volatility. IG Index reported a net trading revenue of £236.5 million,
down from £262.5 million, with net profit falling to £102.5 million.

IG Trading and Investments, established in August 2022,
reported a net profit of £9.17 million, a significant turnaround from the
previous year’s loss of nearly £800,000. Total equity rose from £3.5 million to
£20.7 million.

This article was written by Tareq Sikder at www.financemagnates.com.

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