All posts in May 2023

Threats Topping Merchants

By admin on

Online fraud prevention is becoming more and more critical for merchants all over the world. This article will help you with the right payments specialist that can help you compare merchant services so you can find the best protection from fraud.

Top Threats: Compare Merchant Services

Tech giants like Google and Amazon.com Inc. are using AI (artificial intelligence) technology to root out fraud. However, today’s cybercriminals are extremely sophisticated and are constantly working on better mimicking human behavior.

Being able to protect your online transactions exceptionally well is critical to your success. For this, all you need is to work with a reputable payment-processor comparison company in the UK. With a true payment expert, you can compare merchant services in the UK, based on the most reliable snapshot of companies at the time of writing.

Below you can find several fraud tactics that fraudsters are now deploying:

·      Scam Calls to Consumers

Consumers receive scam calls that are persuading them to buy gift cards. If consumers buy them online, merchants almost always end up with chargebacks.

·      Re-Shipping Schemes + ATO at the Issuing Bank

In this case, consumers become unintentionally recruited by fraudsters to receive packages for them through romance or work-from-home scams. Fraudsters often connect with their victims via social media platforms. Lots of retailers have already ended up with chargebacks for these orders.

·      Account Takeovers (ATO) via Credential Stuffing

Credential stuffing (OAT-008) can be defined as an automated threat. Its operation is based on malicious bots. The goal is to “stuff” known usernames and passwords (as a rule, obtained from data breaches) into online login pages to access users’ accounts.

·      Fraudsters Use Software to Mimic Real People’s Online Browsing/Shopping Habits

In this case, bad guys use fake personas who visit different websites, click on links and ads, and give 5-star reviews.

Fraud is a growing problem for business owners worldwide. Fraudulent card transactions cause lots of headaches, such as chargebacks, for merchants. Because of data breaches, customers can end up with compromised personal information, which will hurt your company’s image. So, being well aware of what fraud-prevention steps you should take is just a must.

Top Trading Mistakes and How to Avoid them

By admin on

If you have decided to trade, then it is understood that some mistakes are unavoidable. Obviously, when you are new, you are bound to make mistakes and that’s how you will learn. But, this doesn’t mean that you should make a habit of them because these mistakes can be very costly. You need to learn from successful as well as unsuccessful positions. However, in order to ensure you don’t make these mistakes repeatedly, it is important to identify and understand them. Highlighted below are the top trading mistakes and how they can be avoided:

·       Not researching the markets

Some traders often open or close a position because they have received a tip or based on their gut feeling. This does yield results sometimes, but this is just a stroke of luck. You need to back these tips or feelings with market research and evidence before you commit to following up. Before opening a position, understanding a market properly is of the utmost importance. Not every market responds the same way. For instance, you cannot apply the strategies and tactics of the stock market to the crypto market as the latter is way more volatile than the former.

·       Trading without a plan

During your time in the market, the trading plan acts as a blueprint. This plan contains a strategy, amount of capital you want to invest, and time commitment. It is tempting to scrap your plan if you have had a bad day in the market, but you have to remember that a bad day doesn’t mean that there is something wrong with the plan. Stick to your trading plan in the long-term and only adjust it as per market conditions when required.

·       Not cutting your losses

It is a grave error to let losing trades continue in the hope that the market will turn. If you fail to cut your losses, it will wipe out any other profits you might have made elsewhere. This is particularly true for short-term trading or day-trading because these techniques depend on quick market movements for making a profit. While some losses are inevitable in the world of trading, you can use stops for closing a position that’s moving against the market. Likewise, you can also use a limit order for closing your trade after it has made a certain amount of profit. Brokers like Current provide their clients with different types of order to help them in minimizing their losses and maximizing profits.

·       Overexposing a position

If a trader commits too much capital to a specific market, it will be overexposed. It is natural for traders to want to increase their exposure if they believe the market will rise. However, it is important to remember that while increased exposure can give larger profits, it can also increase the inherent risk. It is an unwise trading strategy to invest in a single asset.

·       Diversify, but not over diversify

Diversifying a trading portfolio acts as a hedge in the situation where one asset’s value declines. Opening too many positions in a short amount of time is quite unwise. Diversifying a portfolio can give you higher returns, but you also have to work harder to maintain it. For instance, you will have to keep an eye on more events and news that could result in market movements. If you are just starting out, you may not want to do so. But, it shouldn’t be forgotten that a diverse portfolio can increase your exposure to any possible positive market movement. In this way, you can benefit from trends in several markets rather than depending on a single market to move favorably.

·       Not choosing the right broker or exchange

Depending on what asset you are going to trade, you have to choose a broker or exchange to do so. It is crucial for you to do your due diligence to choose the right one. The wrong one could be a fraud or scam or may simply not offer you the features or tools you need to trade profitably. There are some good ones out there, such as Currency.com exchange, which can provide you with comprehensive services. The key is to read reviews and feedback provided by others to make the right choice.

·       Not understanding leverage

Put simply, leverage is a loan given to you by a provider for opening a position. A deposit is paid by the traders, called margin, and they can get market exposure equal to as if they had opened the complete value of the position. But, it is important to remember that while leverage can boost your gains, it can also amplify your losses. Trading with leverage can seem to be quite attractive, but you need to understand its full implications before you open a position. Always weigh the pros and cons before you use leverage.