Beware of the stock market scams

Beware of the stock market scams

The Internet has influenced our lifestyle positively in several possible ways. We can state that the standard of living has been upgraded. But the bitter truth is, today the internet is becoming the paradise for a lot of fraudulent activities and scammers. Scammers come in all shapes and sizes. They lure the users with an intention to loot their money. Unfortunately, many fall prey to the scammers. Stock market trading is also not an exception. The scammers efficiently break into the trading accounts, hack the system and takes over the control of all the trading activities.

How does it work?

The scammers influence online trading activities.

  1. The hackers find a potential way to steal the trader’s user account password. This can be achieved by infecting the PC with a virus or malware and keep track of the online activities. Even the scammers can approach hackers in the black market to buy the trader’s password. Now, the scammers use the compromised account to cause a deliberate loss to the traders and the benefit from the same using a different valid trader account.
  2. Another tactic which is largely followed by the scammers is hacking the concerned person’s email password. The scammers illegally send email to the respective broker from the hacked account. For instance, they send a mail stating that the trader wants to sell all the upheld shares immediately as he is moving abroad or having financial needs. They tactically make the broker deposit all the money in their bank account and run away without leaving any trace.
  3. In addition to this, numerous scammers claim themselves to be financial experts and advertise their software. They look too good to be fake. Traders get attracted by their tool and invest a lot of money to make extensive profits and ultimately gets victimized.

How to protect oneself from a potential scam?

  • Avoid using public Wi-Fi connections and perform trading only in a dedicated PC.
  • Never ever share the login details and password with others. Be in touch and in regular contact with the respective
  • Before purchasing an automated trading software, go through the disclaimer and testimonials and ensure its legitimacy before the purchase. The Bitcoin Code software is one such legit, reliable and trustworthy bot. The brokers associated with Bitcoin code are high-level experienced pros.
  • Make sure that the anti-virus software installed in the PC is up to date.