Experiences with Collective2 | Trading Reviews and Vendors

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Experiences with Collective2

  #58 (permalink)

Trading Experience: None
Platform: NinjaTrader
Favorite Futures: Futures
Posts: 185 since Jul 2011
Thanks: 74 given, 166 received

My issue in the prior post had not been with frequency of service disruptions, but their process of handling them or rather lack of process. It gave me insight into how the company functions and the worrying disconnect between entities within the organization.

This and several other subjective reasons led me to leave the site entirely. The standard needs to be very high for sites that have access to not only your broker logins but also your credit card data, which is retained on their servers.

A little more research will lead you as it did me to more objective reasons not to trust this site with your financial future. In 2009 their database was breached and apparently logins,cc data were compromised Internet trading site collective2.com hacked | Office of Inadequate Security the e-mails users received (I was not a member then) were not explicit whether the data obtained was in plain text or hashed.

While no business is immune from a breach, I have come to expect a level of redundant security from other entities that hold this same level of information brokers,banks etc. that simply was not implemented before or after the breach. Your free to your own interpretation.

Last edited by gonzofist; February 22nd, 2013 at 02:16 PM. Reason: removed redundant wording
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