Banking News

IG Group: New CFD Broker In Switzerland

October 9, 2014

British trading services provider IG Group is expanding into the Swiss market. IG Group specializes in CFDs (contracts for difference) and is one of the leading CFD brokers worldwide.

CFDs are speculative financial instruments used by investors with a high risk capacity and high levels of risk tolerance. If all goes well, the speculator is rewarded with high profits. If not, the investor can lose a lot of money.

The use of contracts for difference has grown notably in various international markets. In Switzerland, derivative financial instruments have long been considered a second thought. An overall aversion to risk on the part of Swiss investors is one of the reasons for this.

Fouad Bajjali, managing director of the IG Group’s Geneva-based Swiss division, believes that Switzerland has growth potential. But the endeavor is not without competition. Swissquote, Saxo Bank, Dukascopy Bank and CornèrTrader already offer CFDs.

IG Group is looking to expand into a wider range of services over the coming years, eventually offering Swiss consumers more attractive stock-trading opportunities.

A successful entry of the firm into Switzerland’s trading market could benefit investors by putting further pressure on Swiss trading fees. However, newcomers to the Swiss trading scene only stand a good chance of success if the fees they charge are markedly lower than those charged by established Swiss online brokers.

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