security of your account

Discussion in 'Trading' started by nestleeg, Jan 14, 2008.

  1. nestleeg


    hi again
    i posted this inquiry here but moderators moved it to another sub forum where it get no attention.. i apologize if by reposting here i offend anybody. i really think this is a topic that all traders should read as it relates directly to one's trading..

    i haven't had a real account before and i started to become concerned with the safety of my trading account from intruders. here is what i have thought of and i would like to hear your comments.

    if some one is to steal the money in your trading account, it can be done in two scenarios;

    <B>1- </B>he gets your account information and gets to the broker site (with ur password) and initiate a funds withdrawal request.

    >> my thinking is that would NOT be possible since funds withdrawal are only sent to bank accounts with the trader name or to the trader home address.

    the only way it could happen if some one has stolen your identity and set up a bank account in your name and for some one to do that, he would need your SSN

    provide that you don't use the trading computer to make any purchases, or send personal the computer deals only with trading account numbers and passwords (no personal data for identity thieves to use)..

    <B><U>so IMO having a pc with no personal info on it like SSN and CC should eliminate the risk explained above.. AM I CORRECT? i would like to hear your opinions</U></B>

    the other security risk is;

    <B>2- </B> a hacker get into your trading account and execute a trade that wipes out your account and this is possible with platforms like ninjatrader

    >>i havent found a way how to combat this risk?

    what do you think about this?

    did u experience sth like that or heard about sb who lost money due to intruders via online?