In an ideal world, your broker should keep your investments safe and any other financial information related to your online trading account. However, this is not always the case, with many investors finding themselves at the mercies of online fraudsters who steal their identity. Some of the ways they gain access to personal information are through phishing and accessing of dumped and keyboard capturing software. Fortunately, there are some ways in which customers can help keep their trading account secure at all times.
Some of the ways you can explore to secure your online investments include:
1. Use your personal computer
Always use your laptop or mobile device to access your trading account to reduce chances of being infiltrated by identity thieves. Public computers may have software that records personal information and shares it with an online fraudster. Ensure that no external devices have been attached to your computer to gather information without your knowledge leading to loss of trading currencies.
A good example of where using your personal computer plays to your advantage is in cryptocurrency investments. In case you lose your Bitcoins, for instance, you can easily recover lost Bitcoins and get back into the game.
2. Keep your computer secure
To safely engage in financial transactions online, you need to invest in reliable spyware detection, anti-virus and anti-spam features for your computer. Your computer should always have an updated version of these features and ensure it remains turned on at all times. If your computer is used by other people apart from you, ensure that you check for viruses or unfamiliar programs on a regular basis.
3. Create strong passwords
Having strong passwords that contain numerals, symbols, and letters is an excellent way of protecting online investments. The passwords should not be shared with third parties and not stored within the computer. In case you need to refer to the password regularly, you can write it down on a piece of paper and keep it securely. Also, avoid using the same PIN or passwords for your various trading accounts and always change them regularly to minimize the chances of getting hacked.
4. Ignore suspicious emails
Most times, identity thieves will try to contact you through e-mail to gather as much information as possible on you and your trading account. It is therefore essential to delete any e-mails that seem suspicious as soon as they pop up in your inbox. Also, do not download programs or files from sources that you are not familiar with or have not interacted with before. In some cases, the subject line may be captivating to get you interested and provide personal information on your account.
5. Avoid using wireless connections
Wireless connections are often unsecured leaving you exposed to identity thieves that are always lurking online. It is easy for them to intercept your online activities and use the information to gain access to your brokerage account. Even when using your home wireless connection, ensure it is encrypted to avoid being hacked and your identity stolen.
Overall, keeping secure when trading online should be taken seriously by anyone seeking to make money online through crypto trading, forex, among other online investments.
