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Account Security

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  #1 (permalink)
katalyn
Gyor,Hungary
 
 
Posts: 27 since Jul 2015
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Hi,

Recently a local bank lost money to hackers.That got me thinking, what kind of security measures & softwares large trading account holders should use?

No point in keep scaling in & compounding-only to get robbed.

Regards,
Katalyn

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 Big Mike 
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katalyn View Post
Hi,

Recently a local bank lost money to hackers.That got me thinking, what kind of security measures & softwares large trading account holders should use?

No point in keep scsling in & compounding-only to get robbed.

Regards,
Katalyn

I like interactive brokers for their two factor authentication. For some incredible reason, I don't know of any other broker in the retail space that offers it.

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  #4 (permalink)
 Blash 
Legendary Market Chamois
Chicago, IL
 
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Big Mike View Post
I like interactive brokers for their two factor authentication. For some incredible reason, I don't know of any other broker in the retail space that offers it.

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This is also why I like IB. With the iPhone and IB's latest Authentication app logging into NT8 or TWS (IB's platform) iPhone app requires my password and fingerprint. TWS PC app communicates with my iPhone and requires my fingerprint when I login to IB's TWS thru NT8.

When I opened my FX acct, because with IB you can no longer trade FX on leverage without $10mil, which I don't have yet, I looked around for an FX broker that had two step. The ones I found like https://www.fxopen.com/ don't except USA customers.

So I have an elaborate password changing scheme for my NinjaTrader Brokerage FXCM acct.

Ron


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 rleplae 
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Big Mike View Post
I like interactive brokers for their two factor authentication. For some incredible reason, I don't know of any other broker in the retail space that offers it.

Sent using the futures.io mobile app

I have seen this also at binkbank (Dutch) for a certain account size, they send you a code through SMS
(same as IB, they offer two factor from 500K i think

In some countries like Belgium, every little tiny account and web-banking (not only brokerage) is standard
protected with 2 factor authentication, your EMV bank card (card with PIN) and a chip card reader, some
banks have it with an optical reader for the screen, some banks you need to enter a challenge, your pin
and it creates a one time token

I have seen Russian hackers that created a client side virus that stole money from people doing this
challenge response trick, for an online payment with a debit card. (very very ingenious)

It just illustrates, absolute security does not exit, it is supposed to be secure, if it costs you more than
what you can get out if you hack it.

It also illustrates, we need to stay vigilant, always alert..

But standard password should be made illegal for a certain $ value

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  #6 (permalink)
katalyn
Gyor,Hungary
 
 
Posts: 27 since Jul 2015
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rleplae View Post
I have seen Russian hackers that created a client side virus that stole money from people doing this
challenge response trick, for an online payment with a debit card.

Can you elaborate it a bit?May be just paranoia,but it pays off.

I'm thinking about hiring programmers to write specialized security programs & antiviruses to secure my trading account.

What kind of standard security softwares do you use currently?

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  #7 (permalink)
 Blash 
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katalyn View Post
Can you elaborate it a bit?May be just paranoia,but it pays off.

I'm thinking about hiring programmers to write specialized security programs & antiviruses to secure my trading account.

What kind of standard security softwares do you use currently?


Sounds costly......

Here is what I do.....

I take a book I like or am reading.....or..... use a passage I have memorized over the years (I tend to do a lot of this...lol) and take a sentence from a page and use the first letter of each word, about 7 words, as my password then follow that with some numbers and punctuation. Then I keep changing this every week or 2 either moving along reading on the same page of something new, new page or entire new book.

Ron

...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
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  #8 (permalink)
katalyn
Gyor,Hungary
 
 
Posts: 27 since Jul 2015
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Blash View Post
Sounds costly......

Here is what I do.....

I take a book I like or am reading.....or..... use a passage I have memorized over the years (I tend to do a lot of this...lol) and take a sentence from a page and use the first letter of each word, about 7 words, as my password then follow that with some numbers and punctuation. Then I keep changing this every week or 2 either moving along reading on the same page of something new, new page or entire new book.

Ron

A good concept from cryptology.I'll bear in mind.

It's not only password.I feel paranoid each time I'm about to open an email or browsing.I do these a lot when I'm waiting for a setup to evolve.

Compounding is doing it's magic on account,along with paranoia also compounding.Custom made security seems best shot,regardless of cost.

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  #9 (permalink)
 Blash 
Legendary Market Chamois
Chicago, IL
 
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Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
 
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katalyn View Post
A good concept from cryptology.I'll bear in mind.

It's not only password.I feel paranoid each time I'm about to open an email or browsing.I do these a lot when I'm waiting for a setup to evolve.

Compounding is doing it's magic on account,along with paranoia also compounding.Custom made security seems best shot,regardless of cost.

You should not be browsing or on email on the same machine you trade from. Trade machine needs to be dedicated to only trading and nothing else. I have 4 computers at my desk in my office. Trade machine has no anti-virus (no need for it, I download nothing to it, all 4 machines are on a secure network I use a diff machine for downloading that has anti-virus) and nothing running that "might" slow it down.

Ron

...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
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  #10 (permalink)
katalyn
Gyor,Hungary
 
 
Posts: 27 since Jul 2015
Thanks: 26 given, 18 received



Blash View Post
You should not be browsing or on email on the same machine you trade from. Trade machine needs to be dedicated to only trading and nothing else. I have 4 computers at my desk in my office. Trade machine has no anti-virus (no need for it, I download nothing to it, all 4 machines are on a secure network I use a diff machine for downloading that has anti-virus) and nothing running that "might" slow it down.

Ron

I don't browse from my trading machine either.

But ISP provider is same for my browsing machine.I worry that hackers may have access to my trading system through network.

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  #11 (permalink)
 Blash 
Legendary Market Chamois
Chicago, IL
 
Experience: None
Platform: NT8,NT7,TWS
Broker: InteractiveBrokers, S5T, IQFeed
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
 
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katalyn View Post
I don't browse from my trading machine either.

But ISP provider is same for my browsing machine.I worry that hackers may have access to my trading system through network.



A certain amount of worry is healthy.

Broker with Interactive Brokers and have the advantage of two factor security. I do.

Ron


Sent from my iPhone using futures.io

...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
 
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 rleplae 
Gits (Hooglede) Belgium
 
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Trading: 6A, 6B, 6C, 6E, 6J, 6S, ES, NQ, YM, AEX, CL, NG, ZB, ZN, ZC, ZS, GC
 
rleplae's Avatar
 
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katalyn View Post
Can you elaborate it a bit?May be just paranoia,but it pays off.

I'm thinking about hiring programmers to write specialized security programs & antiviruses to secure my trading account.

What kind of standard security softwares do you use currently?

It was a man-in-the-middle attack, where users were asked for a challenge / response on their PC
where in reality they were signing a purchase of bitcoins on an exchange in real time... with their
debit card and their digipass

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