In 2021, bank fraud losses in the Philippines reached a staggering $17 million, and credit card fraud surged by 21% since the start of the pandemic. A concerning report projects that cybercrimes might result in a massive $10.5 trillion loss worldwide each year by 2025. Additionally, crypto-related hacks and frauds further compromise trust, with a global total of $428 million in Q3 2022..
With the increasing popularity of online trading, it is essential for traders to be well-informed about the potential risks and best practices to safeguard their investments. Recognizing this need, OctaFX has created a step-by-step guide that covers all aspects of safe trading, empowering traders to make informed decisions and protect their capital.
To avoid scams, follow these steps:
Verify your email addresses
Download apps from official stores
Avoid granting access to any third party applications
Use VPN
Update your apps
Avoid visiting suspicious URLs
Log into the official website only
Do not grant any app permissions
Not being insatiable
Never share your password, pin, or account credentials with anyone even when it seems like a good idea
Dynati, a crypto and forex trader, in an episode of UsapangFX, shared tips, do’s and don’ts to new traders, “start small, so you can make better decisions. Invest only what you can afford to lose. When trading, you decide not emotionally, but logically.”, among others.
Traders can access OctaFX’s UsapangFX through this link and take the first step towards becoming a more informed and confident trader.
Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by enabling them to publish their stories directly on the BusinessWorld website. For more information, send an email to online@bworldonline.com.
Join us on Viber at https://bit.ly/3hv6bLA to get more updates and subscribe to BusinessWorld’s titles and get exclusive content through www.bworld-x.com.