Omni Bridgeway investigating potential IG Markets class action

Omni Bridgeway, together with law firm Piper Alderman, is investigating a proposed class action on behalf of retail investors who acquired contracts for difference (CFDs) from IG Markets Limited (IGM), and who have suffered loss and damage.

IGM operates an online trading and investment platform through which retail investors are able to trade in CFDs, a leveraged financial product which enables investors to take a position on the movement of an underlying asset, without owning an interest in the asset itself. The proposed class action will allege that CFDs are highly risky and unsuitable for most retail clients, and that IGM bears responsibility for losses suffered by retail clients.