It is all too easy for new and old traders alike to become obsessed with charts, indicators, strategies, signals and profits. Along the way, even before you get started, it is wise to address security issues so no unwanted intrusions or loss of data interrupt a great trading session. The bottom line is that Internet security is a serious business, and even more serious when considering your binary options account.
- The number one thing to remember is that the security of your system, your connections and your trading is your responsibility. While it is in their best interest, and usually legally appropriate, for a broker to have top notch digital security it is not their responsibility to protect you from anything other than frauds they themselves may commit. That leaves an unlimited number of potential threats for you to be concerned with.
- When connecting to your broker enable the firewall protection on your computer or another firewall application of your choice. This will help stop hacking attempts from outside/third-party sources and help to keep your personal devices and information safe.
- Use/Install anti-virus, mal-ware and spyware software. This will help keep your computer free of viruses and unwanted spyware that may be installed without your knowledge. While it is unlikely that a broker will seek to install malware on your device your connection with the broker, or worse a shady signal provider or robot, are prime targets for black hat hackers.
- Keep your passwords safe. Absolutely do not under any circumstance use the same old password you use everywhere else. Come on, seriously, we know this to be important already because if one account is compromised then ALL your accounts can be compromised. At the same time keep your log-in details and passwords safe by storing them out of reach of others. You definitely do not want anyone else trading your account.
- Using a credit card for the initial deposit is often a good idea. They offer additional protections for consumers that you just can’t get anywhere else. These include fraud protections and the ability to “charge-back” the broker and recover funds. Many online eWallets such as PayPal and Skrill offer credit/debit cards for use with their accounts and come with such protections.
- Privacy is an important part of your online security. You want to be sure to read the terms and conditions of any broker, signal service, robot or autotrader you use to see how it is they handle information. Look out for and avoid websites that may share your information with third-parties.
- Binary options regulation is a big step toward ensuring a safe trading experience. However, don’t believe everything you read on the brokers website, too many brokers are claiming to be regulated when they aren’t. These fall into two categories, brokers claiming to be regulated by a known regulator, and brokers who make up a regulator and claim to be regulated by them. In either case a quick check of the regulators website should clear up any questions. If more questions are raised avoid both the broker and the regulator.
- The final step in any Internet security scheme is to use a VPN. A VPN, virtual private network, is a method of connecting to the internet that ensures privacy and safety. The VPN creates a digital tunnel through which your devices connect to the internet and websites without anyone else knowing about it. This connection uses an anonymous IP, is invisible to hackers and malware and, even if they could find it, would not be readable because of encryption. How to use a VPN you might ask? Well, it’s super easy. Top providers like Le VPN make connecting very simple for all levels of Internet users, all you have to do is register, install the software and connect.