The 4 Rules to Protect your Trading Account

Online trading is definitely one of the most trending activities and an exciting way to explore global markets and assets price movements. The opportunities are endless, but one must never underestimate the dangers in the online world and should always protect themselves and their account. Here are Mr. Guru’s top 5 tip to stay safe when trading with an online platform.

Create the strongest password possible!

This may sound obvious, but yet many online users ignore the importance of utilizing a strong password for your trading account. Avoid creating account, where your password is “123456” or simply your date of birth. Instead use more complex combinations of upper- and lower-case letters, digits and symbols if possible. This provides the best possible protection against hackers. Furthermore, never use the same password for more than one account, such as your e-mail or social media registrations – keep them unique for each log in.

Execute transactions yourself!

Whatever you do with your trading account make sure it is you and you alone who deposits, withdrawals and generally transacts. At the end of the day, there really is no reason for anyone else but you to have access to the funds in your account. In an emergency scenario, when you certainly need to move funds from or to your account, the only person you are supposed to trust is your personal account manager, whom you trust and are familiar with.

Don’t accept advice on IM platforms!

Some fraudulent individuals may try to contact your through social media or instant messaging platforms, with the sole aim to make you believe they are some trading guru, which can help you trade better. This is something you should be wary of and simply ignore. After all, your personal broker will always contact you through registered e-mail accounts or verified telephone numbers. Stay away from strangers and always make sure you know who and why are they contacting in regard to your trading account.

Never allow remote access to your desktop/laptop

It may seem convenient to use remote access applications such as Any Desk or Team Viewer, but this should never be case when it comes to your trading account. If you have any technical issues or general inquires make sure you contact your dedicated support team. Never give access to your desktop or laptop remotely, when you are logged in your trading account. Not only can you be attacked with harmful software like viruses and malware, but you may also sustain significant financial losses if someone gains total access to your trading.