Vulnerability and how it could affect you
At IG, vulnerability refers to any trading behaviour that might put your financial, physical, or mental health at risk. Within the context of a trading portfolio, that might mean:
- Losing more money than you can afford to lose
- Placing impulsive or compulsive trades without considering the potential implications on your overall financial position
- Using money earmarked for household expenses to fund trades
- Foregoing normal activities like sleeping or spending time with loved ones to trade
- Neglecting work or family responsibilities to trade
- Compulsively monitoring trades even when it’s not appropriate to do so
- Fixating on bad trading decisions
- Negative or harmful self-talk related to bad trading outcomes
- Using medications or substances to cope with the stress of trading
- Suicidal tendencies when trades lose money
Are you at risk of becoming vulnerable?
It’s possible to have healthy trading behaviours for months or years before becoming vulnerable due to a change in personal circumstances. We‘re committed to supporting clients who may have become vulnerable by identifying trading behaviour that might indicate vulnerability.
To determine if you might be at risk of financial vulnerability, ask yourself:
- Am I putting my own or my family’s financial interests or future at risk to fund trades?
- Am I using money from multiple personal accounts to fund single trades?
- Am I opening increasingly large trades to compensate for previous losses?
- Am I neglecting other financial responsibilities, like paying for household goods and services, to fund trades?
- Am I going into debt to fund trades?
- Am I worried that I might not be able to recover financially unless I have a winning trade?
- Have members of my household expressed concern regarding the financial choices I’m making to keep trading?
- Am I hiding my trading behaviour from members of my household?
To determine if you might be at risk of physical vulnerability, ask yourself:
- Am I neglecting my usual self-care practices like exercising, spending time in nature or sleeping to monitor my trades?
- Am I struggling to fall asleep because I’m worried about trades going against me?
- Am I using substances or medications to cope with the emotional impact of trading?
- Am I compulsively eating or forgetting to eat to cope with the emotional impact of trading?
To determine if you might be at risk of emotional vulnerability, ask yourself:
- Am I foregoing time with friends and family to monitor trades?
- Am I distracted by thoughts of trading while spending time with friends and family?
- Do I notice negative self-talk when a trade goes against me?
- Do I tie my feeling of self-worth to my trading outcomes?
- Do I think that most of the problems in my life can be solved by a single winning trade?
- Am I having suicidal thoughts when trades go against me?
If you suspect you might have become vulnerable, you can let us know by contacting compliance@ig.com.
Our vulnerability safety net
Sometimes vulnerability happens very slowly rather than all at once. You might not have noticed subtle changes in your trading behaviour over time. To provide an additional layer of protection, we’re also on high alert for potentially harmful trading behaviour. We don’t monitor your overall trading activities or outcomes. Instead, we look out for normal trading behaviours that start to compound within a very short period that might indicate vulnerability.
I’m vulnerable. Now what?
We aim to provide a safe, supportive environment where our vulnerable customers can engage with us without fear or judgement.
If you’ve self-declared your vulnerability, you can request a temporary or permanent suspension of your account. One of our agents will provide a list of resources for you to seek support, as well as some literature around trading psychology and behaviour. If you requested a temporary suspension, you can request the reactivation of your account once your period of suspension has ended.
If our system picked up behaviours that might indicate vulnerability, an agent will alert you to your vulnerability status and discuss the next steps. Depending on your personal circumstances, the agent might recommend a temporary or permanent suspension of your trading account. Then, the agent will provide a list of resources to help you get back on your feet.
You think I’m vulnerable, but I can explain
If the system flags your account for vulnerability in error, discuss the appropriate next steps with our agent. We understand circumstances can lead to a false positive. For example, you may have neglected to update your declared wealth for some time and have been flagged erroneously. If you think your account was inappropriately flagged and our agent was unable to resolve the issue, please contact us or discuss your circumstances with the agent that calls you.
Is it time to ask for help?
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 organizations 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 situation of vulnerability.
If you are struggling with your mental health, please consult your physician or a mental health professional. You can also reach out to gambling support services in your area.
- Mental health
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:
Sometimes poor trading outcomes can seem insurmountable, but help’s always at hand.
Your doctor or any of the below institutions can offer support:
- Gambling support
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:
- Debt
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.
- Trading education
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 +4420 7896 0079
- Need for more training
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.
