Online trading: 10 Precautions and safety measures

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10 things to know before trading online
Online trading is fast and net based trading. Here, the investor place his own orders using the internet trading platform offered by the trading member viz., the broker.

Before investment, investors should know these 10 precautions and safety measures:

1. The default password provided by the broker should be changed before placing an order.

2. Ensure that password is not shared with others. Change password at periodic interval.

3. Investors should have adequate knowledge on usage of the software before starting trading.

4. Investors should check for the confirmation after placing the order.

5. Placing orders from the shared PC's / through cyber cafés should be avoided.

6. Don't forget to log out after having finished trading to avoid misuse.

7. Ensure that one does not click on "remember me" option while signing on from non regular location.

8. Do not leave the terminal unattended while one is "signed-on" to the trading system.

9. Protect your personal computer against viruses by placing firewall and an anti-virus solution.

10. Investor should always make sure that sufficient funds and securities are available in his account with the trading member and that he is regular in payment of margins so as to avoid blocking of account by the trading member.

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