Retail Trading Boom Cools as Cost-of-Living Crisis Hits Europe
- IG Group reported 27% drop in new clients in latest quarter
- Morgan Stanley sees downside for Avanza, Hargreaves Lansdown
This article is for subscribers only.
Retail trading platforms are getting hit as Europe’s cost-of-living crisis tightens purse strings for amateur investors, ending a pandemic-era boom for the sector.
UK contract-for-difference firm IG Group Holdings Plc said on Thursday that new client numbers dropped 27% in the quarter ending August 31. The trend is being replicated elsewhere, with Sweden’s Avanza Bank Holding AB reporting recently that net new customers fell 66% in the first half of the year.