System overload results in access problems for Yahoo's YJFX clients - FinanceFeeds

System overload results in access problems for Yahoo’s YJFX clients

Traders could not log into YJFX’s platform Cymo for several hours this morning due to what the broker labelled as “system overload”.

Some of the clients retail Forex broker YJFX, a subsidiary of Yahoo Japan Corporation (TYO:4689), experienced difficulties this morning when trying to access Cymo – one of the platforms the broker offers.

The company has confirmed the tech issues, which have prevented its clients from logging into Cymo’s desktop version and smartphone version. The problems started around 3am this morning and were resolved around 9am, the company said in its report on the matter.

The cause for the problems was a system overload, YJFX explained. The broker has managed to resolve the problem by expanding the server capacity to bear the increased load.

Reports of tech issues at YJFX are rare. Probably the most serious incident at the broker involving its clients was reported in early 2016, when a serious clients data breach was reported. The company found out back then that one of its ex-employees had stolen more than 180,000 pieces of information about YJFX clients, including client names and bank account data.

The subsequent analysis of the incident confirmed that 185,626 pieces of information had been taken out, with 56,665 pieces of information accessed through search engine crawlers and 741 pieces of information viewed by third parties.

The broker was then forced to hire an external professional to conduct an investigation into the breach. Upon finishing the check, the expert concluded that no further leaks of information were detected.

YJFX has recently streamlined its offering. In July this year, it stopped offering the social trading service Trade Collector in tune with a wider trend among FX brokers to wind down their social trading offering. And in September this year, YJFX confirmed that its binary options trading application cannot be downloaded from Apple’s App Store. The company explained that this is due to the change in the policy of the store. Apple updated the OS developer guidelines in the summer, saying that “Apps that facilitate binary options trading are not permitted on the App Store”.

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