I don't think it is that easy.
If you contact Dorman or Ninja and for a wire transfer they only accept checks or wire transfers TO and FROM the bank account listed on your application.
To change that information you will need to verify your identity in several ways.
Over the years I've had many wire transfers in and out and each time they must originate from my 'listed' bank account and they will only send transfers to my 'listed' accounts. Maybe you have a different experience but this is how it has worked for me.
The login for NT and/or Windows is only a safeguard.
Anyone with access to your computer (either locally or remotely) can easily crack the hash of your password.
If you allow a skilled person to sit at your computer with it off and not logged into Windows, they can access your PC and Windows in less than 60 seconds without knowing your password.
Locks and/or passwords are only to keep the honest people out.
Rejoice in the Thunderstorms of Life . . .
Knowing it's not about Clouds or Wind. . .
But Learning to Dance in the Rain ! ! !
Thanks for the info regarding the listed accounts. I've just opened my account so have yet to request a wire out of it.
My concern is, how easy is it to "list" an account? I've been told that no credentials are necessary to initiate a withdrawal...maybe it's different in practice...granted, it's unlikely that anyone will have your exact name and surname AND know that you have an account with NT, but seems a bit careless, especially for people with large sums of money in their account.
As far as the password is concerned, I agree. Just a password wouldn't be sufficient. That's why I mentioned the "electronic tokens" that give you a random 6-8 digit number to type in in addition to the password as an extra layer of security.
Most bank accounts have this "one time password" addition- either by SMS or the aforementioned token. I don't see why NT brokerage doesn't have it as they are keeping your money in a bank as well.
Perhaps Ray, @NinjaTrader or someone from @NinjaTraderBrokerage will address this, along with the fact that their online withdrawal page, including first name, last name, brokerage account number, bank name, bank account number, routing number, etc. is not even on a security certificate protected page. I realize the majority of clients never actually "withdraw" funds - but it's a serious problem that can be easily (and quickly) fixed. Thanks.
The following user says Thank You to timefreedom for this post:
As per DavidHP post #11, there are safeguards to ensure that wires and checks are sent only to the originating funding source. We did some work on our brokerage site and as an oversight; HTTPS was not forced on the withdrawal page. This has since been remedied.
Cyber security is an important item and an area that NinjaTrader is investing on in the future. One major project is to build a client portal that will allow our clients to manage various aspects of their account. We anticipate starting this in the coming months.
Thanks. The work around for me is that I save my login and password details for Continuum with Robo Form. Before I log out I delete my password and use robo form to fill it out again when I log back in.