IG Group Starts Retail Crypto Trading In The UK With Uphold Partnership

By: Isha Das

In a notable expansion of cryptocurrency trading options in the United Kingdom, IG Group, a FTSE-listed financial services firm, has announced the initiation of its retail crypto trading services. This initiative marks IG Group as the first major London-listed broker to offer direct spot cryptocurrency trading. Scheduled to commence on June 3, the new service will allow retail investors to trade up to 38 cryptocurrencies, including major digital assets like Bitcoin, Ethereum, and a range of altcoins and memecoins.

IG's entry into the cryptocurrency market is made possible through a strategic partnership with Uphold, a digital asset exchange. In this collaboration, Uphold will manage custody and execution services for the cryptocurrencies, ensuring streamlined and secure trading experiences for IG’s clients. It's important to note that assets held with Uphold are not protected by the Financial Services Compensation Scheme, and trading will be limited to fully paid positions without leverage. This means investors must manage market risks themselves and are fully accountable for the tax implications of their gains.

This development occurs in the context of evolving regulatory frameworks in the UK. Just five weeks prior, the UK Treasury released a draft rulebook aimed at integrating crypto assets into existing market regulations to boost investor confidence. According to reports, a substantial portion of UK adults, about 12 percent, currently own digital assets, indicating a growing trend toward crypto adoption. Brokerages like IG are responding to this demand by integrating crypto trading within their platforms, a step also being taken by other firms such as Revolut and eToro.

Despite the promising opportunities, IG’s move into cryptocurrency trading comes with certain uncertainties. Regulatory guidelines around capital safeguards and client protection in the crypto realm are in continuous development, meaning financial firms must adapt to new regulations as they arise. However, this move by IG reflects the broader confidence in the potential mainstream adoption of digital assets within the UK’s financial system. As policy frameworks become clearer, 2025 is poised to see an increased alignment of digital and traditional finance.