It can be hard to admit when you’re experiencing financial vulnerability, but in the ever-changing world, anyone is susceptible. The best thing to do is to seek the help and advice of professionals.
Most countries now have a strong network of organisations that are dedicated to offering their help to those who need it, regardless of the nature of the problem that’s led them to a vulnerable situation.
Although it may seem obvious, it’s necessary to point out that mental health should never be the price paid in exchange for an activity, and trading is no exception. If you feel that the stress and tension inherent in a fast-paced activity such as trading is taking you to extremes, don't hesitate to ask for help.
Sometimes poor trading outcomes can seem insurmountable, but help’s always at hand.
Your doctor or any of the below institutions can offer support:
Lifeline or call 13 11 14
Beyond Blue or call 1300 224 636
Depression Helpline - 0800 111 757
Lifeline - 0800 543 354
Mental Health Foundation
If the need to trade gets out of control, it’s time to contact a professional. While some people may be prone to compulsive behaviours, it’s also a habit that can develop over time due to a change in circumstances or mental health. If you notice you’re not sticking to your trading plan and acting in an uncharacteristically impulsive manner, the following organisations are well-equipped to help you find stability:
National Gambling Helpline - 1800 858 858
Gambling Help Online
Problem Gambling Foundation or call 0800 664 262
Sometimes, we can be vulnerable due to several poor financial decisions or unlucky trades. The below organization can offer advice and help you develop better financial practices. Debt can lead to crushing stress, but with the right tools it doesn’t have to be a permanent state of being.
National Debt Helpline or call 1800 007 007
MoneyTalks or call 0800 345 1233
You might not grasp all the costs associated with the products you are trading. Our highly-trained and capable agents are standing by to offer telephonic support if you are unsure about our products. During your registration process, our team of consultants will happily answer all your questions and, once you start trading, our customer service team will also be able to respond to queries related to spreads, premiums and any type of cost derived from trading.
To speak to an agent about IG’s trading products, call 1800 601 734
Sometimes, not accessing the right information at the right time can lead to decisions that affect both your mental health and your financial situation. If you’ve started trading and the results are not what you expected, it’s time to take a break and go back to square one – training.
A demo account is a wonderful way to familiarise yourself with our products and platform, without putting money on the line. We offer a wealth of training materials. Don't hesitate to sign up for webinars and seminars, join the IG Community and find a tribe to help you reach your trading goals. Sometimes, taking a step back helps us to avoid vulnerable situations and, fortunately, the educational content offered by most brokers can be extremely valuable.