Tackling security issues on mobile and online share trading
By Staff reporter | 05 May 2019 at 17:29hrs
It wasn't that long ago that the ability to trade shares online and through mobile phones seemed like a scary prospect to individual investors.
But thanks to a raft of technological improvements and the rise of online share trading platforms worldwide, it's now easier than ever for ordinary Zimbabweans from all walks of life to buy and sell shares online through the C-TRADE platform. The market has become more accessible, but that doesn't mean investors should not take precautionary measures when trading. Read on to find out how you can stay safe when trading shares online.
C-TRADE operates in a market which is regulated by the Securities and Exchange Commission of Zimbabwe. This means that all the activity on C-TRADE is in line with the regulatory requirements of the capital markets hence providing for investor protection. Trading using the C-TRADE platforms is very secure. The process requires authorisation through PINs only known by the account holder thereby ensuring security of shares and funds.
For further protection investors are encouraged to set a strong password and to change it regularly and avoid recycling the same password. Constantly check if personal information such as telephone number, email address and login password is the correct information that you provided. Should an account holder wish to change any details they have to request for a Change of details form which they fill, scan and return with a certified copy of their national identity card or valid passport.
Use trusted and secured computer or mobile device for online trading. It is advisable not to use public computers, or unknown and insecure network connection to access the C-TRADE online account. An investor should not share personal account information or let other people use their computer or mobile device used to access to the C-TRADE account. Avoid downloading and installing any unknown software used to access your online account. Always log out of the website or system after finishing your trades.
Moreso, investors should not disclose the login identity and password of their online account to any person or respond to any unverified request. Intermediaries do not normally contact customers for personal information by email and do not ask customers to disclose the account password. If in doubt, investors should contact the C-TRADE helpdesk for further enquiry.
Avoid storing passwords in computers, mobile phones or placed in plain sight, and avoid using a single password for all your accounts e.g. email account or banking account. Avoid logging on your online account when there are unusual pop-up screen or window, or abnormal slow computer response, and when unexpected steps or information are required.
As transparency is critical in maintaining the public's trust in the capital markets, C-TRADE fulfills this function through enabling investors to keep track of their portfolio transactions as the summary trading information is displayed on a real time basis where investors can view various key market indicators such as the prevailing bid and offer prices, value and volume traded. it enhances the ability of investors to make informed investment decisions by giving them information faster in electronic format, as databases can be searched and financial information be analysed more readily.
In conclusion the continued growth of technology presents even greater opportunities for expansion and innovation in capital markets especially as investors become more connected and more comfortable with communication technologies the effects will be felt throughout the capital markets.