When starting out as a trader, it can be overwhelming how much attention one needs to pay to stay on top of trading trends. Price movements and analysis, major news and economic events, trading opportunities and strategies to name a few. However, all of those will become significant only after you have managed the address the most important aspect of it all – your account security. Read this list of 10 extremely vital tips you need to consider to keep yourself safe in the dynamic online trading world!
Here are a few simple steps to have in mind and protect yourself when trading online:
Use antivirus software
Antivirus software protects your computer from viruses and trojans, which can use information from your system to send without your permission.
Use a personal firewall
Personal firewalls can be either hardware devices or software. They increase the security of your computer by preventing connections to it from the Internet.
Use your own computer
Publicly available computers (such as those in libraries, Internet cafes, kiosks) are usually more vulnerable to viruses and other malware that can record your username, account details, or password.
Use encryption when you can
Encryption secures your information and prevents it from being read by potential fraudsters. Keeping your browser and operating system updated along with the use of encryption will help prevent fraud.
Create a secure, difficult-to-guess password
Do not write anywhere and do not share your passwords. They must be difficult to guess, they must mix uppercase and lowercase letters, numbers and punctuation. Change your passwords periodically.
Protect your account number
Do not share your account number with absolutely anyone.
Keep your operating system and browser updated
Regularly download security updates and patches to your PC. Keep your internet browser up to date to take advantage of the latest security technologies.
Keep the applications you use up to date
It is also important to download periodic updates to all applications installed on your personal computer (such as Java, Adobe Reader, etc.) to protect against vulnerabilities in old software.
Regularly review your financial history
Check your reports, financial transaction history and credit history regularly. Contact your broker and bank if you spot any unauthorized activity.
Report your suspicions
Contact your support team if you suspect any suspicious activity.