With the advent of dedicated electronic trading platforms such as the Metatrader 4 (MT4), forex brokerage has been a booming business over the last three decades. Like any great technological breakthroughs, digital platforms continue to face ever-increasing security challenges.
Cyber threats to the information and computer systems of brokerage firms comes with the risk of potential harm to investors. The dangers include email hack attacks, improper transfer or theft of customer assets, and misuse or even theft of customer data.
Security breaches and any related interruptions in the performance of a broker’s service or application, can result in direct financial losses, threaten firm’s reputations and even erode customer loyalties.
Tackling the demands of cyber security cannot be afterthoughts or slapped on with just traditional ad hoc and limited point solutions. For any broker to realize its full potential, comprehensive cyber protection – in light of growing threats in digital space – is tremendously important to empower firms with the ability to fully focus on the business and give their clients the necessary assurance and protection.
To ensure confidence in business, a growing number of brokers use specialized penetration testing to gauge the effectiveness of their digital security infrastructure. Firms such as FortFX and MarquisFX use BrocShield, a new comprehensive technical and information security package developed by Broctagon Fintech Group, to effectively evaluate their ability to protect key digital assets and combat dangers in the cyberspace.
Some features include penetration testing by an Offensive Security Certified Professional (OSCP) team, where brokerage firms perform full risk assessments and scan for vulnerabilities. BrocShield also offers protection against DDoS, threats that causes web or platform service disruption and would result in profit loss and downtime. BrocShield is planned to be certified by the industry’s leader in cyber security Crest soon
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