There are few winners in the on-going car crash that is Plus500 — but one is IG Group.
The London-listed company offers contract for difference (CFD) products to rival Plus500 and its stock has been jumping since news of Plus500’s account suspensions broke on Monday.
IG is up over 5% on the week and up almost 2% today at an all-time high of 799.5p.
Anecdotal evidence from Plus500 customers Business Insider has spoken to suggests at least some disgruntled users who had their accounts frozen are switching over to rival services like IG. Investors seem to be betting it’s more than just a few.