WebMaster
ADMINISTRATOR
- Joined
- Jun 25, 2016
- Messages
- 23,443
- Reaction score
- 5
- Country
- Location
Trade Safe By Following These Cyber Security Tips
"Cloud Security - Secure Data - Cyber Sec" (CC BY-SA 2.0) by perspec_photo88
The rise of online trading has transformed the way that many of us can handle our financial affairs online. So, wherever we are, whatever the time of day, if we have an internet connection, we can buy, sell or just check up on how the markets are doing online. But, like all kinds of online activity, there are risks so we need to be conscious of cyber security and how to stay safe. Naturally, all reputable trading platforms do all they can to protect both themselves and the investors who use them but, nevertheless, they do come under attack from time to time.
Only trade with the sites you can trust
So, one of the most important things to do is to be 100% certain that the service provider that you’re aiming to trade with uses a high level of encryption on its site. In this way, you’ll be able to have the confidence that your personal information and details of any transactions that you make will remain confidential. The best way to discover the level of encryption is by inspecting a site’s SSL certificate and this can be done using your browser. It differs between browsers so it’s worth checking on a guide on how to do this and what information you should be looking for.
It’s also reassuring to know that many of the world’s banks are involved in debates about how best to increase cyber safety both through increasing their own levels of security and in co-operating with each other to maximize protection. For example, in December 2017 in Dubai, there was a major event called HIYAMA Cyber Threat Intelligence Collaboration, which aimed to make trading UAE shares, commodities and currencies safer for all concerned. As the UAE is a major investment hub for the Middle East with stock exchanges in Dubai and Abu Dhabi, this could not have come at a better time and a number of positive recommendations emerged from the forum.
It’s your responsibility too
But, while you’d expect the online trading platforms and financial institutions to do all they possibly can to prevent and repel a cyber attack, you have a responsibility to keep yourself safe too. So, it’s essential to use a strong password for your accounts and that means one with a combination of upper and lower case letters, numbers and special symbols. When you set a password, the site usually tells you how strong or weak it is, so be guided by this.
"virus" (CC BY 2.0) by bodycoach2
You should also be very wary of viruses and trojans that can give hackers access to your computer and files along with many of your personal details. So, ensuring that you have the right level of virus and spyware protection that is regularly kept up to date is also crucial.
By following this advice and keeping on your guard for any threats that might compromise your security, trading safely online should be a reasonably straightforward process. But one final piece of advice would be that, if you ever do get an email promising the investment opportunity of a lifetime, one that seems just too good to be true, it very probably is and should be viewed with extreme caution.
"Cloud Security - Secure Data - Cyber Sec" (CC BY-SA 2.0) by perspec_photo88
The rise of online trading has transformed the way that many of us can handle our financial affairs online. So, wherever we are, whatever the time of day, if we have an internet connection, we can buy, sell or just check up on how the markets are doing online. But, like all kinds of online activity, there are risks so we need to be conscious of cyber security and how to stay safe. Naturally, all reputable trading platforms do all they can to protect both themselves and the investors who use them but, nevertheless, they do come under attack from time to time.
Only trade with the sites you can trust
So, one of the most important things to do is to be 100% certain that the service provider that you’re aiming to trade with uses a high level of encryption on its site. In this way, you’ll be able to have the confidence that your personal information and details of any transactions that you make will remain confidential. The best way to discover the level of encryption is by inspecting a site’s SSL certificate and this can be done using your browser. It differs between browsers so it’s worth checking on a guide on how to do this and what information you should be looking for.
It’s also reassuring to know that many of the world’s banks are involved in debates about how best to increase cyber safety both through increasing their own levels of security and in co-operating with each other to maximize protection. For example, in December 2017 in Dubai, there was a major event called HIYAMA Cyber Threat Intelligence Collaboration, which aimed to make trading UAE shares, commodities and currencies safer for all concerned. As the UAE is a major investment hub for the Middle East with stock exchanges in Dubai and Abu Dhabi, this could not have come at a better time and a number of positive recommendations emerged from the forum.
It’s your responsibility too
But, while you’d expect the online trading platforms and financial institutions to do all they possibly can to prevent and repel a cyber attack, you have a responsibility to keep yourself safe too. So, it’s essential to use a strong password for your accounts and that means one with a combination of upper and lower case letters, numbers and special symbols. When you set a password, the site usually tells you how strong or weak it is, so be guided by this.
"virus" (CC BY 2.0) by bodycoach2
You should also be very wary of viruses and trojans that can give hackers access to your computer and files along with many of your personal details. So, ensuring that you have the right level of virus and spyware protection that is regularly kept up to date is also crucial.
By following this advice and keeping on your guard for any threats that might compromise your security, trading safely online should be a reasonably straightforward process. But one final piece of advice would be that, if you ever do get an email promising the investment opportunity of a lifetime, one that seems just too good to be true, it very probably is and should be viewed with extreme caution.
