Online security is something that every person who has ever made an e-commerce transaction online would rate, as the most important criteria. Regardless of how fancy an app might be, if it lacks in terms of security, it is a lost cause. Binary options mobile trading is no different, as security forms an important piece to the puzzle. After all, what good would a binary options trading app be, if it cannot ensure the security of the trade calls you make, or for that matter logging in to your trading account? But is security of mobile binary options trading just limited to transactions; or in other words, trade management, banking and nothing more? Read this article, which sheds a different light when you think about binary options mobile trading security.
Due to the basic nature of the transactions associated with binary options, especially with some apps even allowing for banking features such as depositing funds or requesting withdrawals, security is of utmost importance when considering a binary options mobile trading app.
Traders would be relieved to learn that binary options trading apps today are highly secure in terms of the transactions made. Whether it is making a PUT or a CALL option, or simply logging in to your trading account. Information relayed over the Internet from the mobile trading app is encrypted by default, thus ensuring the security of the information flow. However, besides the overall security, one of the other aspects that could be a cause for concern is access to the trading app itself. This is even more essential especially if you happen to have a significant amount of funds in your trading account.
Simple tips to keep your binary options trading app safe
Securing Access: For example, what if your child gets hold of your iPhone, or what if you lost your Samsung Galaxy phone? What if by chance, your child activates the trading app or someone who got their hands on your stolen Samsung phone discovers the trading app? Wouldn’t they get curious and access the app only to end up ruining the trading account for you?
For this and many other reasons, always ensure that you logout of your binary options trading app, once you are done. Most apps come with the feature of ‘saving the password’ which would prove to be disastrous if something unthinkable happens. Although logging in and entering your username/email and password might be a bit of a hassle, it is well worth the efforts to keep your binary options trading app, safe from accidental as well as purposeful access.
If you are still in doubt about this, ask yourself this simple question. Would you auto save the login details to your mobile banking app?
Connection Issues: Besides the aspect of securing access to your trading account, another factor is connectivity. This is true especially when trading 60 second binary options. A slow 3G connection could mean the world of a difference between an ‘in-the-money’ and ‘out-of-the-money’ options contract. So unless you have a really good reason that warrants risking a slow Internet connection, avoid making short term expiring contracts from your smart phone over a 3G network. On the same note, make sure that you are in a Wi-Fi zone which can act as a backup connection just to be safe can be a good idea. Given that most public places, especially coffee houses and bars offer free Wifi, it shouldn’t be too difficult to get hold of a free Wifi connection if you are out in the public.
Trade Issues: We are still yet to get used to the tap and pinch mode of navigation with touch screen enabled smart phones. This can be an issue when it comes to making a trade from your binary options trading platform. It’s not that hard to imagine clicking the wrong investment amount or even worse, making the wrong options call. Some, if not most binary options mobile apps provide for an additional confirmation… usually, up to 3 seconds after you place your trade, during which you have the chance to cancel the trade. This feature can be very handy when trading with touch screen enabled mobile devices.
Memory: Apps tend to freeze, if you have too many other apps running simultaneously. This can be a deterrent when it comes to trading from your binary options mobile app. Besides memory overload, low battery levels can also slowdown the performance of your app. So ensure that your phone is charged and that you do not have too many other apps running at the same time.
Better be safe than sorry
As with everything else, prevention is better than cure and the same goes for security aspects when dealing with binary options mobile trading. Remember, the more accessible something is, the easier it is to fall into the wrong hands, both unintentionally or otherwise. Make sure that you take your binary options trading app seriously.