The Sign Up Process

You can sign up to obtain Omni Bridgeway's funding by completing the online Funding Agreement in 6 quick steps:

Provide Contact Information
1. Email   2. Contact details
Complete Claim Information
3. Claimant Details   4. Claim Details
Accept Agreements
5. Funding Agreement   6. Lawyer Retainer
  • We recommend you complete the 6 steps in one sitting. If you are unable to do so, you will be emailed a link that will enable you to continue the online signup at a later time.
  • Once you have completed your claim online, you will be able to access your details at any time via your personal account in Omni Bridgeway’s client portal.

Sign Up FAQs 

(Click questions to expand)

A class action is a special type of court case.  A class action is an action that is brought by one person (known as the ‘applicant’) on his or her own behalf and on behalf of a class of people (known as ‘group members’) against another person (known as the ‘respondent’), where the applicant and the group members have similar claims against the respondent.

In a class action, the applicant’s claims are used to resolve as many factual and legal issues common to the group members’ claims as possible. While the group members are represented by the applicant, it is not necessary that every class member has exactly the same type of claim. 

Class actions enable large groups of people to vindicate their legal rights without the burden or cost of commencing an individual case for each affected person. The class action process saves time and expense and allows the courts to decide issues common to all affected persons in a single case. 

To be eligible to participate in the IG Markets Class Action, you must be a retail investor and have acquired CFDs from IG Markets Ltd within the last 6 years from the date of filing of the proceedings. 

Any legal proceedings will be funded by Omni Bridgeway on a “no win, no pay” basis. This means that you do not have to pay anything in the event that the class action proceeds, and your claim is ultimately unsuccessful. If your claim is successful Omni Bridgeway will be entitled to receive certain amounts, but only from what is recovered. Piper Alderman will also be entitled to its “Remaining Costs” as defined in the Funding Agreement, but again only from what is recovered. Fees recovered by Piper Alderman will not exceed any amount approved by the Court in respect of legal fees.

The Funding Agreement should be signed by the CFD acquirer that traded on the IG Markets trading platform. 

The Omni Bridgeway Funding Agreement is subject to a 21-day cooling off period during which time you may terminate the agreement by following the notice requirements set out in the agreement. You may use this cooling off period to obtain separate legal advice about the agreement you have entered into if you wish to do so.

No. The claim has been filed on an ‘open class’ basis. This means that all current and former IG Markets clients that are were affected from losses incurred on the IG Markets platform are group members in the class action, irrespective of whether or not they have signed a Funding Agreement. However, for the reasons set out below, you are invited to sign a Funding Agreement.

There are a number of reasons why group members may wish to consider signing a Funding Agreement even where the claim will be filed on an ‘open’ basis.

First, the initial trial in a class action will usually only determine the Representative’s claim and the common issues. Issues specific to your individual claims, such as whether you suffered loss and the value of the loss, will not be determined in the initial trial. It may be that further steps will then need to be taken in order to pursue your individual damages. This could include a court hearing at which your individual damages are determined. By signing a Funding Agreement, you will secure Omni Bridgeway’s funding at the agreed commission rates that cover not only the initial trial in the class action, but also any additional steps that may be needed to advance your individual claims. You will also be protected from any adverse costs orders that may be made against you in taking these additional steps.

Second, by signing a Funding Agreement you will be kept apprised of developments in the class action and be able to ask questions of Omni Bridgeway Limited and the Lawyers as a client.

Third, there will likely be a formal Court-ordered process whereby group members will need to register in the class action. If you have signed a Funding Agreement, Omni Bridgeway Limited will take steps to ensure you are automatically registered and that no further independent steps are required on the part of its clients.

Fourth, as the claim has been filed on an ‘open’ basis the Representative may ask the Court for a ‘common fund’ order. A common fund order is an order made by the Court requiring all group members to contribute to the costs of funding the proceeding on a fair basis, including those who have not signed a Funding Agreement. If the Court is minded to make a common fund order in this case, Omni Bridgeway intends to submit that the funding rate that the Court should apply to the unfunded group members be the same as the rate in the Funding Agreement. The Court will set a rate (which may be different to the rate in the Funding Agreement) that will apply consistently to all group members. Under the Funding Agreement, where the Court makes a common fund order and sets a rate which is different to the rate in the Funding Agreement, the lower of the rate provided in the Funding Agreement and the rate set by the Court will apply to members of the group who have signed a Funding Agreement. In these circumstances, you will not be financially worse off for having signed a Funding Agreement with Omni Bridgeway.

In addition, if the Court is not minded to make a common fund order, the Court may make a “funding equalisation order” in relation to the distribution of any settlement sum. The effect of a funding equalisation order is to equalise the recovery that funded and unfunded group members receive in the hand, taking into account the fact that funded group members will be required to pay a commission to Omni Bridgeway. A funding equalisation order would mean that the return of unfunded group members would be reduced by the amount they would have paid had they signed a funding agreement to ensure that unfunded group members receive the same proportionate net outcome.

Finally, by signing a Funding Agreement with Omni Bridgeway you are also demonstrating support for the Omni Bridgeway-funded proceeding.

We believe that our proven track record in funding matters of this type, the demonstrable financial strength of the Omni Bridgeway group and the experience of Piper Alderman means that this class action will be an effective vehicle for group members to pursue their claims. Competing proceedings may mean legal and other costs to group members are higher than they need to be and may complicate any settlement discussions.

The Omni Bridgeway portal is a client portal whereby you can log in and see details of the Omni Bridgeway funded claims you have signed up for. You can update your contact details and access information that is related to your claims. 

You can email the Omni Bridgeway Client Liaison Team at [email protected] and request more information or free call on 1800 958 528 (if calling within Australia).