As increased volatility has sent clients flocking to their doors, spread-betting and contract for difference firms have been among the rare beneficiaries of the financial crisis. Unsurprisingly they’re looking to bolster their teams.

Year-on-year, IG Group posted a 45% upswing in profits for the six months to the end of November, and its smaller rival London Capital increased its dividend after trading exceeded management expectations.

“Whether you take a bearish or bullish view, it’s possible to make money through spread-betting,” says Phillip Gillett, sales trader at IG Group.

“We’ve been hiring a lot of people recently, while other financial sectors have been making redundancies,” he adds.

IG Group currently has vacancies on the sales side, as well as technology and marketing roles.

It’s not the only one hiring. Simon Mansell, chief operating officer at GFT Global Markets, tells us: “We have taken on quite a few more staff over the last three months to enable us to manage the increased levels of business we’ve seen and I imagine that will continue to happen into 2009. This can be anything from dealers and sales to customer services or compliance.”

One high-level example of how spread-betting firms were able to benefit from other firm’s misfortune was City Index’s recent appointment of Simon Bird as chief operating officer. He was previously senior managing director with responsibility for global portfolio trading at Bear Stearns.

“The calibre of applications has definitely got higher,” says Gillett. “We’re getting interest either from people who previously held good positions in the City or from graduates who lack options elsewhere.”