Questrade aims to beef up customer account security via Last login feature

Maria Nikolova

The new feature enables traders to see details about their Last login – date, time, and device/browser.

How secure is your brokerage against cyber attacks?

Canadian online trading company Questrade is seeking to bolster the security of its customer accounts and with that in mind, it is introducing a new feature.

The name of the Last login feature is pretty self-explanatory. Thanks to this addition, whenever traders log in to their Questrade accounts, they can check information about the last login to their account, such as date, time, and device/browser. The customer portal (myQuestrade) and Questrade Trading display last login details in the top right corner of the main menu, whereas mobile users view this at the bottom of the menu.

The new security measures are introduced about three months after Questrade suffered a DDoS attack. The problems started on Friday, June 16, 2017, as the broker customers began reporting of the trading platforms being down and of problems logging in.

The company conducted an investigation and confirmed that it had been subjected to a DDoS attack on June 16, 2017. The broker specified, however that this was not a ‘hack’ and no personal information was compromised. It noted that it had taken all available immediate steps to protect against similar future attacks.

A number of other companies have sought to boost their cyber security systems. In July this year, Saxo Bank unveiled its plans to strengthen the resilience of its proprietary trading platform SaxoTraderGO to DDoS attacks.

In April, OANDA Japan sought to strengthen its security systems in order to provide customers with better protection. The company implemented security reinforcement measures at logging in seeking to prevent unauthorized access. It informed the traders that their accounts will be temporarily locked in any of the following cases:

· Account information is entered incorrectly more than 5 times at login;

· The account owner has not traded for more than one year.

On June 29, 2017, Japanese retail FX broker Securities, a subsidiary of Mitsubishi UFJ Financial Group Inc (TYO:8306), confirmed its website was targeted by a DDoS attack. The corporate website of the broker was down for some 36 minutes and then its operations were restored. The broker noted that the transaction system was operating normally without any interference and that no information leakage was detected.

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