Posted in:

Five Tips for Investors to Advance Their Digital Security

Is your digital security as good as it could be? Follow these five simple steps to improve your online security and protect your investments and trades.

Online security is something that is spoken about widely, but it’s easy to become blast about the risks if you’ve never been targeted. 

If you’re an investor, you could easily find your assets at risk if you don’t take the necessary steps to protect yourself. It’s easier than you think to improve your digital security; here are five simple steps to follow. 

#1: Back-Up Data

Most people fear their identity being stolen or fraudsters gaining access to their account. However, there are other types of financial crimes too, which could be just as devastating. 

Some cybercrimes wipe out your data, meaning you lose everything. If you hold digital assets, such as cryptocurrency, a loss can be catastrophic. Backing up your data isn’t just crucial for keeping hold of photos that you don’t want to lose; it’s also vital for protecting digital assets and guarding against digital crime.

#2: Update Your Devices

It can sometimes seem as if you’re continually being asked to update your devices. If you’ve got a smartphone, a laptop and a home PC, the need to keep them all updated can feel never-ending. 

However, although updates are inconvenient, they’re essential. Developers monitor and identify any security flaws, or any breaches that have occurred, and offer solutions via updates. If you don’t keep your software updated, you could be inadvertently exposing yourself to higher levels of risk. 

#3: Unsecured Networks

Your home WIFi network is probably – hopefully! – secured so you can carry out transactions without fear of your sensitive data being stolen. But can you be sure that all other networks you use have the same level of security?

If you’re keen to carry out an urgent transaction while you’re away from home, it can be tempting to quickly log on without checking whether the network you’re using is secure

The consequences of using an unsecured network can be devastating. Without protection and data breach compensation, your data can easily be stolen, and you’ll lose far more than you would have done by waiting a little longer to carry out the transaction. 

#4: Take Care Using Personal Devices

The rapid movement in the markets means that more and more investors rely on using their phone to keep up with trades. It is a marked improvement from the days of old when a trader would be tied to a desktop computer for hours at a time. 

Many apps make trading more straightforward, but make sure you don’t switch security for convenience. Ideally, look for trading apps which require two-step security every time to keep your digital info adequately protected. 

#5: Beware Phishing Scams

If you’re a pro when it comes to CFD, forex and understanding of the markets, you may feel immune to the risks of phishing. Many people dismiss them as a scam that only sucks in newbies, but with fraudsters getting more and more sophisticated, that’s no longer the case. 

Clones can represent a particular threat, with the website looking almost identical to a legitimate firm. However, although they may look the same, behind the scenes, you will be redirected to the scammer, where they will be able to track the details that you enter and empty your account. 

Remember never to follow links that you’re sent in emails or texts, even if they seem to be from a reputable site. It’s far better to find the link yourself and enter the site that way. This will prevent you from