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5 Tips When Investing Online
- 28 January 2022
Investing online is a convenient way of accessing investing options with fewer processes compared to other traditional means. While it is easier to carry out transactions, it is still an investment which should be handled with care. Investors can play a part in minimising potential mishaps when executing an investment transaction via online platforms by enhancing their financial literacy and exercising greater precautions.
Here are some precautionary suggestions on how to protect yourself when investing online.
Online trading is fast and easy but investing requires time to evaluate
It is possible to buy and sell shares, unit trusts, derivatives and other investment products through online investing platforms in a mouse click. Although online trading of investments saves investors time, it remains critical that investors conduct their own research to make informed decisions before investing.
Online activity is not always instant
Always be mindful of technological bottlenecks when investing through an online platform. There may be lags or be disruptions that prevent investment orders from registering on the platform in the instant that you have made the order or transaction.
Check the quality of your device and internet connection. Avoid using an online investing platform when it is experiencing technical glitches.
Frequently monitor your account activities
Always review your trade documents and e-statements promptly. Log onto your online investing account regularly. Beware of any suspicious or unauthorised transactions and any unauthorised changes to your account information such as telephone number, email address and login password.
Access the proper way
Access your online investing platform by typing the website address (URL) or your online investing platform. Avoid accessing the website through any hyperlink embedded in an e-mail, SMS message, internet search engine or suspicious pop-up window.
Set a strong password
Set a strong password and change it regularly. Avoid recycling the same password and storing your password in computers or mobile phones. Do not share your passwords or security code with other people, including your family members.
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