Tips For Forex & Binary Investors To Protect Themselves

November 8, 2018
Tips For Forex & Binary Investors To Protect Themselves November 8, 2018 Clive Nelson

Investing in any kind of business or asset always comes with an element of risk. It is extremely difficult to consistently predict which investment will turn out right and which one could be a money pit. There are different strategies and tips that investors can use to be more accurate with their predictions and significantly reduce the amount of risk they expose themselves to.

We believe that investors must learn to be a lot more proactive when it comes to protecting their investments.

Here are three quick tips that will help you be better protected while investing.

Identify Scams Quickly

One of the first things an investor should do is learn to quickly pick out a good investment vs. a scam. There are a lot of binary options, forex, and CFD products being advertised out there that can scam investors out of their money. There are a lot of criminals out there who are taking advantage of the surge of interest into these financial products and design elaborate scams to steal money from people. This is why Google has recently banned ads on certain investment products and why many countries have passed laws strictly against them. So the first thing you need to be constantly aware of is that there are investment scams out there.

Detailed Research

The best way to avoid falling prey to an investment scam is to do the research. A lot of investors make the mistake of being lured in by false promises. What investors should do is take the time to investigate and check. Any firm that an investor plans to invest in should have the official licenses and be registered with the proper authorities.

A good rule of thumb is that the higher the return that is promised on an investment, the riskier it is. If they say it is not a risk, there is something fishy going on in all probability.

Protect Your Online Identity

Besides doing proper research, investors should also take the time to protect their online identity. Hackers are always trying to steal personal and financial details which include investment account login details, emails, and banking information. If a hacker ever gets a person's e-mail, they can quickly take over the account, reset the password, and access their funds and investment info.

This is why investors should invest in a secure VPN for protection. Additionally, they shouldn't do business on a public computer or via public WiFi. This could lead to them being targeted by hackers and other unscrupulous individuals. Finally, investors should opt to use two-factor authentication to secure their accounts to ensure that they have an additional layer of protection.

About the Author

Clive Nelson

Clive Nelson Author

Hi, my name is Clive Nelson and welcome to Traders Bible. Just to tell you bit about myself…I have been trading FX and binary options for the best part of 10 years now. After graduating with honours in economics, I began working for an investment bank in New York as an assistant trader before working my way up. After a few years, I went on to work as a broker in London, England and then eventually came back to the U.S to work in a hedge fund, where I manage $800 million of my clients’ investments. There have been times over the course of my career where I’ve had to take a hit, but I’ve accepted that losing is part of the game, it’s a learning curve. I’ve learnt from my mistakes and you don’t have to make the same errors I did. A lot of my education came from when I was a broker and this is why I’m here to tell you that Traders’ Bible offers you the foundations of how to become a great trader.

Related Articles

Trade for Free and Profit for Real

You may be wondering are there are ways that you can trade either Binary options online or Forex in such

Worldwide Tradable Indices

As part of our ongoing Binary Options guides in this one we are going to give you an insight into

5 Reasons Why Binary Options Trading Makes Sense

There are a number of options open for people who gamble, apart from land-based or online casinos. There are the