Published : March 13, 2021
Share trading online has made life easy for investors. Online share trading has made it possible for traders and investors to execute their buy and sell bids right at the click of a button from the comfort of their homes.
Internet trading or online share trading has become the default trading platform for almost every trader during the current times. This is because share trading online offers you simplicity, convenience, and transparency along with offering ease of trading at speed.
Thus, with the advent of technology in the field of stock trading, the market has become more accessible so that you can trade without worries.
However, despite the ease of trading share trading online is offering, traders need to be extra vigilant when carrying trades online for keeping the trading account safe and secure.
The rates with which cybercrimes are increasing in the country are rising at a fast pace. Hence, while carrying out share trading online, investors and traders need to follow certain steps to ensure that their accounts and transactions are free from the risk of fraudulent activities.
Some of the key measures which all internet traders should take into consideration for the safety of their Demat and trading accounts are as follows:
The first and foremost thing to be kept in mind when starting with share trading online is ensuring there is online security. Start by securing your PC or system, or mobile device in case you prefer using online stock trading apps. Ensure that your internet connection is secure at the same time. Browsing unsecured websites can be tempting many times but keep in mind that a single hasty click can put your personal data at stake. It can also dent your device with malware. It is difficult to resist the urge of opening unsecured links but doing so will ensure your devices’ safety during share trading online.
Many brokerage firms offering an online trading platform assure that the investors are getting access to a safe and secure trading platform, which ensures that traders need not worry much. However, to ensure double safety and as an alternative safety measure, it is always advisable to use a secure VPN service. Investing in a secure VPN connection assure that you can place safe trades from everywhere you go without being worried about the safety of your transactions. Investing in a safe VPN service provider will also ensure the safety of your transactions when you are connected with WiFi wherein you have less control over the security of your internet connection.
Many cybersecurity experts have already stated that a weak password is one of the main loopholes in the entire internet security system. Thus when it comes to sharing trading online you want to make sure that everything is safe and sound. One of the basic yet important safety measures is to avoid setting passwords that are easy for people to remember. You can make use of password manager software to protect your passwords from cyber thieves. When setting a password for your online Demat account make sure it is at least 15 characters in length and is a good mix of alphabets, special characters, and numbers.
As a stock investor, you need to be aware of the various stock spams. Stock spams are one of the common internet frauds which are called a “pump and dump” scheme. The fraud artificially inflates the price of a stock through shady and deceitful positive allegations about the stock. This forces traders to sell a cheap stock at an unworthy price.
Consider the following things to avoid the “pump and dump” frauds:
Always make it a point to close your trade session. Log out of your trading account when you are not using the share trading online app or system. Though most of the trading accounts log out automatically when you leave the system idle. However, it is always advisable to avoid any such risk. Apart from closing the trading session ensure that your clear the cache at the end of every day.
When it comes to sharing trading online the safety and security of your internet connection becomes of prime importance. Thus, if you wish to have an online trading session that is secure, safe, and free of cyber frauds, you need to be double-sure of the safety and security of your internet connection and online trading platform.
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