Trade online? How can you improve cybersecurity
Online trading platforms have quickly become the preferred medium of conduct for most Indian traders. The convenience, immediate access and simplicity of online trading has made it easier for full-time and casual traders to work on their portfolios. You can execute one-click trades, manage your trading account, bank account and demat account from the comfort of your home or office. However, with the growing threat of malware and hacking, ignoring cybersecurity can get very expensive. Here are some steps an online trader can take to secure their investments according to Angel Broking – a leading brokerage firm.
Have strong passwords and change them regularly:
The importance of a password cannot be overstated. It forms the basis for you to manage your trading account, bank account and demat account. You can increase security by making your password as complex and dynamic as possible. According to Angel Broking, you should avoid using your name, date of birth or wedding anniversary as a password because they are just gifts.
Beware of strangers’ computers:
The rule of thumb is that you should never access your trading account from computers that you do not know. This includes computers owned by your friends and relatives. Make sure the PC or laptop you are using has an anti-virus and anti-spyware program installed and that the program is up to date. In addition, never access your trading account from internet cafes.
Don’t forget to log out and clear the cache:
When trading on your PC or laptop, it’s quite common to keep the session open when you go for a sandwich or witness the call of the wild. It’s still a strict no! The moment you are away from your desktop, you must be logged out of your trading account. In addition to logging out when you leave the seat, make sure your cache is cleared at the end of each day.
Increased vigilance pays off:
One of the best ways to be very secure when using your Internet trading account is to maintain high standards of vigilance in terms of both hardware, software, and reporting. Avoid downloading unknown software or programs from CNET or FILEHIPPO just because it is free software.