Beware of phishing attacks
One common way investors get defrauded is by sharing their login details with others. Artificial losses can be created using illiquid options or penny stocks to move money out. Just like you don’t share your bank logins, you shouldn’t share your trading account logins as well.
The other way accounts get compromised is through phishing frauds. It’s Important to not enter login details anywhere apart from the official broker websites and apps.
From our experience having dealt with a bunch of frauds, here are the large issues we have spotted👇
Unregulated advisors promise phenomenal returns to lure investors. In many cases, they share their account access with strangers on WhatsApp & telegram.
The email gets phished first, where a lot of customers store all login credentials to bank & trading accounts.
Most people don’t have 2FA on their email accounts, which further increases the risk of getting phished.