I have used Starbucks wi-fi before but only since I had internet problems. I wouldn't recommend you do it regularly for security issues. Carry your own 4G dongle if you must, that's private internet that is often faster and definitely more secure. There's also the issue of redundancy, at home/office you typically have at least 2 computers so should one fail in the middle of the trade, you can still use the other one. That's extremely important as components can and will fail. Privacy also matters, would you want someone next to you looking at your screen and trades? I have experienced that, not pleasant.
I feel, like d08, that it may not be safe for long-time user, even though there is no definite answer for security. Let there are 3 major internet providers, such as A+B+C. If your main has a connection with A. Then you better find B and C nearby, to prepare disconnected in A. If those all 3 are all dead, then probably NYSE will be closed too. However, in legal matters, under all 3 dead internet probably traders is still responsible for all. Although I have almost no personal experience in future/option, with possible disconnection of internet, he should be responsible for any forced loss (like margin call). Isn't it? Any comments are welcomed.
Well, for any public wi-fi, the security is definitely a liability compared to 4G that's only for you. There are many reports and experiments on this. The more time you spend there, the higher the chances of you getting hacked as there would probably be at least 1000 people who connect to that wi-fi ever single day.
Umm, yes, obviously. No exchange or broker cares about your positions whether your dead or alive. Your losses are your own.
I mean hypothetical situation, such as if ALL internet providers are dead a few days in your area but NYSE is running. Can you claim to the court judge for your non responsibility, for the margin call?
It's rare, but sometimes my ISP will be down -- if that happens, I will immediately call my broker to close out my positions. I've been contemplating buying an Ipad with 4G as a backup emergency web source for sometime, but not really into tablets and Apple. (and that wasted expense) I wasn't even aware there's a USB 4G Dongle web option, until you mentioned it now -- how much is the monthly rate for those plans I quickly googled it...but it seems like it's only popular or in use in foreign countries (not US)
What the heck do you mean by there is "no definite answer" for security. Dude, its a public place...you can't monitor everyone for every second that could easily be monitoring your screen from a very short distance or even have some secret camera setup in their backpack, purse, bag or fake object just one table away...recording everything you input on your screen. Simply, if you're only worrying about internet connection via a coffee shop wi-fi on something not suitable for trading unless you're talking about an occasional swing trade...you're way behind the times on "identity theft". Note: Imagine if you're a hacker or someone that does identity theft...you've already identified a target. Were I live at...people have wifi access at public libraries, university libraries, cafes, tim hortons, sports arenas, airport and there's many other places including a current test of a public bus route on one of the busiest bus routes in the downtown area. I've even watched a guy sitting at an eating area at a hockey game logging into his bank account (Bank of Montréal) to pay bills and then I watched him log into his twitter account and then his facebook account while I sat several feet away...behind him while me and my kids ate some horrible tasting ribs at the hockey game. I find it ridiculous someone would be using theses resources making financial transactions and others with so many curious eyes around them that's impossible to prevent someone from looking especially someone walking by. Its funny because the other day my kids had the day off from school and we went to the public library that has a darn good wifi connection. While looking at some books...I was about 10 feet away from a woman with her laptop and logged into some Microsoft private site connection. While listening to her I was able to determine she was a technical rep (contracted) that handle technical calls for the Microsoft Azure. Then I sat down at a nearby table for 30 minutes just to listen because of curiosity while reading a book...she gave technical help to three different callers...doing her job while mobile...in a public library. After one particular call she supported...I started a conversation with her and she reveal she does her job at cafes, libraries, sport arenas, at the university where her boyfriend is a graduate student, on a bus, tim hortons and other areas but only if she can find a quiet spot...the libraries are her favorite places especially that particular library because of all the business people that come in there on their lunch break. Next time I call a software company tech support department...I'm going to be wondering where that person is sitting at while helping me through some software technical issues...heck...he/she could be sitting on the toilet in the bathroom of a public library. Traditional workplace is changing. P.S. If you need to trade or do any type of financial transaction or logging into any accounts (e.g. facebook)...make sure you're some where that has your back against the wall and there's nobody sitting near you to your right or left...someplace where you're not worry about a waiter/waitress popping up out of nowhere to ask you if you need anything. Why? There's been a lot of cases lately were people caught for identity theft, they had been employed at some place that has served you in a place that had WiFi or by someone that frequently sits near people using their laptops, iPads and such for financial transactions or more.
No, you can not. I guess you forgot to read those agreement statements you signed or clicked "agreed" online when you opened your account with the broker, bank or any other financial institution. Its fully your responsibility considering I'm sure you've heard of something called a cell phone or landline telephone for communication. Use Google...there's many free websites that lists public places (including coffee shops) that have WiFi.
Its very much possible but you can trade any where you want, not just the coffee shop. There are traders that even trade while travelling or shopping. Some also trade from there own shops and offices. So its very much possible for one trader to trade from a coffee shop as a habit or routine.