IG Group Closes South Africa Office, Lays Off Staff

According to the latest information from Brokersview, IG Group confirmed on February 24, 2026, that it has officially closed its operational office in Sandton, South Africa, and laid off local staff.

This move was foreshadowed. As early as last May, IG had announced plans to exit its South African operations and informed clients of its local subsidiary that they would no longer be able to open new positions. The office closure represents the final step in this withdrawal.

As a transitional arrangement, IG is allowing its former South African domestic clients to transfer their accounts to other offshore entities within the group to continue receiving services. Concurrently, IG has surrendered its ODP license in the country, a license that has become mandatory for offering CFD trading in South Africa.

IG's South Africa website now features a prominent notice at the top, confirming that IG Markets South Africa will no longer offer trading account services. It emphasizes that this change does not affect existing international/offshore accounts.

In addition to South Africa, IG holds licenses in several other countries, including the United Kingdom, Germany, and Australia.