Forex security.
Trading on the stock exchange is always associated with enormous risk, and in Forex, this risk is only exacerbated by the use of leverage.
But not every trader realizes that, in addition to trading mistakes, there are a host of other dangers lurking beneath their radar that they might not even consider.
Forex security is a top priority and deserves special attention. A few minutes of your time can protect your money from scammers and others looking to profit at someone else's expense.
Let's explore all the risks unrelated to trading and capital protection measures.
1. Internet security - If you've decided to trade Forex, don't hesitate to install a popular antivirus program on your computer. Kaspersky or Nod-32 are excellent options; both are quite effective against hacker attacks.
It's advisable to use only licensed software; saving $5 a month and risking hundreds or thousands because of a hacked antivirus is foolish.
Never save passwords in browsers; a few seconds saved can cost you money.
The connection should be established via the https protocol; this ensures additional security for your trader account.
2. Information storage - After registration, Forex brokerage companies usually send you an email with passwords and account numbers. This should be stored securely on a flash drive.
You can protect the information by simply compressing it into an archive and setting a password. While this isn't always convenient, it's safe.
3. Choosing the right brokerage company – there are virtually no obvious scammers in Forex these days, but not every broker will allow you to consistently win, especially if you're scalping.
Therefore, it's advisable to work only with the largest brokers ; this will provide you with at least some guarantee that you won't be manipulated.
And don't think that all this is a trivial matter: if you're trading on a cent account, a scammer can obtain your bank card number and code, access your payment system wallet, and steal money from there. According to statistics, about 10% of money lost in Forex trading is due to a lack of security.
