Have you ever wondered why many new traders end up losing money and quitting the market?
That can be due to a lot of reasons, such as lack of experience or a strategy. But above all, that’s because they are not aware of the safe and secure ways to trade.
When we use the word ‘secure’, we don’t just mean the right strategies and skill, but we also refer to being safe from scammers who are out there to get your money in any way they can.
While many of the traders end up quitting and losing their money, others continue to make good bucks and explore new opportunities.
When you have some hard-earned capital at hand, you want to invest it in the most intelligent ways.
If simply put, it requires some shrewdness, wisdom, as well as the right amount of caution to stand-out from the rest as a successful trader.
If you are beginning to put your money in the stocks or forex, make sure you read the following details carefully to make the most of your trading endeavors, securely.
So, let’s begin.
Look for Authentic Stocks
Regardless of how lucrative a particular stock may seem, you should always make efforts to validate its details.
To do so, you may carry-out extensive and thorough research, such as through online resources or seek advice from a trading expert.
Some people call for being cautious about an IQ Option scam, but it is rather a platform to assist you with trading.
If you want to make a quick check, then check the stock’s credentials, their background and history including the statistics of their progress, and whether they have any online links to provide this information.
Also, it isn’t a bad idea to ask an experienced friend for a referral to find the right broker in a short amount of time.
Watch out for Scammers
We are living in an age of artificial intelligence (AI) and smart cities, and so are the scammers.
Those who resort to fraudulent practices have turned away from conventional practices and adopted modern and sophisticated means to scam investors and stockbrokers, especially amateur users.
Sometimes, they may appear in your phone’s message box impersonating a certain individual or an organization so they can deceive you.
Such texts contain invitations to visit a particular link or sign up a particular form, which is simply a trap to acquire key information to deprive you of your money or assets.
Invest in a Secure Online System
More than four billion data breach incidents in just the first few months of 2019 are evidence that data security has turned into a huge challenge for the experts.
Some of the stolen records are disclosed publicly, which makes the situation chaotic. In this scenario, there is truly no harm in investing in a software or an application to combat modern-day means of fraud.
The benefit of such a platform is that it will assist you in keeping your investment data secured as well as make it convenient for you to stay organized and up to date.
Seek Secure Stock Search
This is something that first-time investors and those looking for a broker struggle with. They visit tons of websites to determine the latest details of the stocks they wish to invest in.
But the problem is that not many websites have the right security measures in place and so they are vulnerable to hacking attempts.
When you visit such websites, your data may be stored with third parties and might be used for a scam.
Oftentimes, data-driven websites whose security has been compromised contain certain spyware and adware that can land directly into your computer and cause substantial harm.
Don’t Give Away Your Data
The first rule for investors and stockers to remember is to keep their investment data private to themselves.
One of the methods that scammers use to deprive you of your information is the phishing emails. These contain carefully generated subject lines to compel you to open them.
They often ask you to send an email or make a phone call, all of which may lead to a deepening stock investment fraud.
The same is the case with social media as there are people who may offer to provide you some advice related to stocks or an ‘ideal broker’.
Never Ignore Caution
Irrespective of your standing as a professional investor, you can never be safe from attempts on your privacy unless you have adopted security measures.
Sometimes, professional brokers set aside safety and ignore the Standard Operating Procedures (SOPs) and security protocols. But doing so doesn’t do anything but invite trouble.
Whether it is the phone or email that you are communicating through, don’t give away sensitive or confidential information relating to your stocks or investments.
Never throw caution to the wind even if you think you’re dealing with someone you have known for years.
Make Use of Multiple Sources
And last but not least, this is something that’s not specifically related to security, but is related to intelligent investment.
As the saying goes, “don’t put all your eggs in one basket”, you should not heavily invest in just one stock.
Explore multiple sources and carry out enough research to be sure to determine which stocks are the best.
Also, when choosing a broker, pick someone who does not just have some coveted credentials, but who also has the passion to go beyond numbers and win the right investments for you.
Conclusion
The notion that ‘with opportunities come risks’ is indeed true, and invites us to think about securing our information relating to investments and stocks.
The fact that many new stock investors give up too soon may be due to cutthroat competition, but it is also due to poor or inadequate security measures.
To remain safe, you must safeguard your sensitive information by putting the right measures and strategies in place.
Only then can you invest in your favorite stocks with complete peace of mind.