J
Malema Johnson
@jay_malema
Last seen:
9 hours ago
Jay is interested in becoming profitable
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IG never gave a full public reason for leaving South Africa. In its May 2025 email to clients, IG called the exit a difficult decision that wasn’t taken lightly, but it didn’t explain why. When it closed the Johannesburg office in early 2026, the only reason it gave was “operational efficiency.”
The likely explanation is strategic rather than a sign of trouble at the company. IG was doing well globally at the time and expected strong annual profits. South Africa was a small, competitive market for a large international broker. Local rules also require a separate licence to offer CFDs, and rivals like CFI and XS were picking up new local licences. Keeping a fully staffed office and a separate rand-account business probably didn’t pay off.
The exit happened quickly. New trades stopped on 28 May 2025, and clients had until 28 July 2025 to close their positions. Rand accounts were then shut down, while clients with offshore IG accounts kept them
Second plane hit by 9:36 am according to this CNN report and I think the stock exchanges in America had just opened for the day
Its surprising how investors didn't initially realize what was going on and some even kept buying SP500 even after CNN announced it
Then you should write the names on each line so people know instead of leaving room for people to guess
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