Even though there are several ways they could possibly break into your broker or clearing house servers, it would be difficult for them to get the your money sent to them, since there are humans in the loop when money is taken out of an account. I think an easier way for hackers to deplete your account is to get your password(quite easy on some trading platforms since you can download a network sniffer and watch your password go by when you login. Try it.). Now, they use their own money to buy some illiquid stock. Then they use all the money in your account to buy the same stock. The stock goes up a little, they sell, stocks falls and you have to get your money out of that illiquid position without running it to zero. Now, most people do not have enough money to move even illiquid stocks too much, but hackers that get access to several accounts could really move a tiny market. When all those people check and see their new positions and try to get out you wouldn't have much left. The SPIC insurance doesn't protect against this. You would be left holding the bag.
by the way, what if these hackers actually work for the bokers??? they have all your details. they can lend those details to someone not connected with them. and do what they need to do.
Apparently my previous posts were deleted. I find that reprehensible. Apparently whoever deleted the posts does not understand that the Constitution of the United States protects each citizen's right to freedom of expression (also called "free speech"). What irritates me is that you make no changes and offer no sanctions to a person who in the past has posted religious propaganda on a website that devoted to finance and to trading the markets, hence the name "Elite Trader". On 9/11, I lost several family members in the twin towers. My niece (Michelle), only 10 years old and her mother (Laura) were forced to make the decision to burn to death or to jump. They jumped. I can't imagine what my sister must have thought as she held on to my little niece. They were found on the street by firemen, and were buried in the ruble when the building collapsed. As you can imagine, I object when people try to insert religion into this forum, especially Islam. In addition, I believe that this poster (TerryL) has an agenda of provocation. His agenda is made clear when in response to my comments; he refers to the existence of "mass murderers" in the United States as some strange justification for the violence we have experienced. As for the person who made the decision, I wonder if in your private moments, you feel entirely comfortable with this action. Thank you, Lefty
Lefty, try to understand. I do not approve of violently or otherwise hurting innocents. This is not Islam. For info on what Islam is, I suggest once again for you to pick up a book or even the Koran and understand it. One verse of it clearly states that "there is no compulsion in religion". And these are words that cannot be changed literally. The koran is the same since when it first appeared. So please do not associate me in YOUR agenda. And do not bring religion bashing into my topics. Thank you.
That actually is interesting. But I didn't know forex was illiquid. Anyways, have you tried anything like this ?
Does anyone read me, over ??? No wonder most of you guys get burnt ! You have little regard to threads that question the safety of YOUR money but are more interested in threads that claim they made 80% returns.
IB will only send money to your bank or home and will not change those destinations without contacting you first.
And tell me what stop IB's employees from changing your address to their friends, then getting their friends to immediatly transfer money offshore to a Swiss Brothel ?