Are you a beginner to the world of stock trading? If so, then you probably have questions like ‘is it safe to trade online?’ and ‘is online stock trading safe?’ swimming in your mind. If that’s the case, then this article can help put your fears to rest. Let’s begin.
If you’re looking to trade online in India, then you don’t have to worry about safety or security at all. In India, the online stock trading system, infrastructure, and framework is highly robust and is very closely regulated by the authorities. Therefore, there’s very little chance of a trade being fraudulent.
Right from the time you buy a stock to the time the trade gets settled and the shares are delivered to your demat account, every single process is automated and monitored regularly. And so, there is absolutely no room for unscrupulous practices like forgery or fraud.
That said, if you’re still worried about safe stock trading, there are some steps that you can take to secure yourself. Here’s a quick look at a few of them.
Since stock trading in India is done over the internet, there are some inherent risks that you would have to protect yourself from. However, this is true for all types of online activities. Let’s begin.
1. Set a strong password
This is one of the easiest and the most effective ways to ensure safe stock trading. Having predictable and easy passwords for your demat and trading accounts can put you in peril. That said, you can prevent unauthorized access to your trading and demat account by setting a strong password. Here’s a tip. Use a mix of uppercase and lowercase alphabets, numbers, and special symbols for your password.
2. Use safe browsing practices
Always make sure that you visit only genuine websites with proper security and encryption measures in place. Avoid visiting shady and unsecured websites. Doing so can put your personal data under risk or can infect your device with malware or viruses.
3. Beware of unverified and unsecure links
Avoid clicking on any links that appear shady or too good to be true. Being an online trader, you’re likely to get spam messages or emails that promise exceptional returns on your investment. Never click on any of the links that appear in the message, since it can lead to your demat and trading account getting hacked.
To sum up, trading online in India is very safe and secure. All that you need to do is ensure that you follow appropriate safety measures when doing so. If you wish to trade online in India, having a demat account is one of the mandatory prerequisites. If you don’t already have one, visit the website of Motilal Oswal right away to open a demat account online within minutes.
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