(Reuters) - British online financial trading firm IG Group
Concerned by losses for some players, regulators have tightened the rules governing online platforms like IG, Plus500
IG, which started as a spread-betting firm in 1974 with just three employees, said revenue for the four-month period after regulatory limitations came into effect in August was expected to slump 20 percent in the UK and the European Union.
The company said the number of new clients it onboarded in the 4-month period since August had fallen to 14,600 from 18,027 a year earlier.
IG also said its subsidiary in Germany had received a licence from the country's regulator BaFin, allowing the firm to offer financial products across the European Union after Britain leaves the bloc.
(Reporting by Muvija M and Noor Zainab Hussain in Bengaluru; Editing by Sai Sachin Ravikumar)