US-CERT Cyber Security Tip ST06-004 — Avoiding the Pitfalls of Online Trading


 

US-CERT Cyber Security Tip ST06-004 — Avoiding the Pitfalls of Online Trading

Are you considering trading stocks and bonds online?  Or maybe you’re already doing it.  Either way this tip is something you should look at carefully.  I will say that I’m investing through an online web site and I like it.  It’s fast, easy, and convenient.  I can have it automatically withdrawn from my bank account, or I can purchase shares directly.

The US-CERT tip is especially important to consider now, with the economy in it’s current state.  There are people out there who now, more than ever, want to get access to your money.  And they’ll use whatever means that they can to do that. 

It’s very important that you practice safe online habits.  And if you get e-mails with supposedly “hot” stock opportunities, don’t buy into them.  They’re most likely someone either creating fake stocks to get your money, or they’re trying to unload their worthless, junk, penny stocks on someone who’s gullible enough to buy into them.

You should also check into the sites where you’re getting your market tips and investment advice.  If it’s not your traditional broker (or established with one like Edward Jones, Merrill Lynch, or TD Waterhouse for example), then check into them closely.  They may be trying to sell you worthless opportunities also, or they may have conflicts of interest.

Some of the sites that I use are MarketWatch, StreetInsider, InvestorsObserver, and MotleyFool.  Be ware that all of them, except MarketWatch are offering some pieces for free and wanting you to pay for more advanced information and options.  You can check some of the International Indexes here.

So, combine the information sites with the tips from US-CERT, and you should be ok with your money.  At least as far as someone trying to scam it out of you through the computer. 

Have a great day:)
Patrick.

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