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Account Security?
Oct 31, 2021 at 20:09
482 การดู
4 Replies
Oct 31, 2021 at 20:09
I'm still fairly new to FX trading and using/understanding the MT4 platform, but are there any security concerns with the short and generally insecure passwords used on demo and real trading accounts issued by myFXBook and the various brokers? I see most generate 7-8 character passwords with numbers and letters, no special characters.
I do appreciate that all MT4 - broker communication is encrypted over port-443.
Is there any risk to account passwords getting compromised, brute forced or are there some protections built into MT4?
example: https://www.ecl-labs.org/2013/11/13/metabreaking-metatrader.html (pdf here: https://www.ecl-labs.org/papers/metabreaking-mt4-v6.pdf)
Its from 2013, but I'm not sure how often MT4 updates & auto-patches their software and platforms, maybe these have been addressed?
On my demo and live accounts I have generally changed both the master and investor passwords to ~20 characters with complexity.
If you delete your investor password does that just disable read-only mode, or make it open / read-only for everyone?
Thoughts?
I do appreciate that all MT4 - broker communication is encrypted over port-443.
Is there any risk to account passwords getting compromised, brute forced or are there some protections built into MT4?
example: https://www.ecl-labs.org/2013/11/13/metabreaking-metatrader.html (pdf here: https://www.ecl-labs.org/papers/metabreaking-mt4-v6.pdf)
Its from 2013, but I'm not sure how often MT4 updates & auto-patches their software and platforms, maybe these have been addressed?
On my demo and live accounts I have generally changed both the master and investor passwords to ~20 characters with complexity.
If you delete your investor password does that just disable read-only mode, or make it open / read-only for everyone?
Thoughts?
เป็นสมาชิกตั้งแต่ Jul 23, 2020
816 โพสต์
Dec 05, 2021 at 19:44
You can just share the screenshot.
เป็นสมาชิกตั้งแต่ Jul 23, 2020
696 โพสต์
Dec 09, 2021 at 14:44
I do not think it’s possible. It is better to contact the broker and seek confirmation.
เป็นสมาชิกตั้งแต่ Aug 05, 2021
394 โพสต์
Dec 09, 2021 at 16:28
Reach out to your broker's customer support team and they should be able to advise you on this. I think the passwords are pretty safe but you can never be too careful these days.
Dec 10, 2021 at 07:52
Thanks for the updates. Seems MetaTrader has been updated a few times since this issue was published, hopefully the issues were resolved. I still change both account passwords as a best practice and don't rely on the default short passwords that most brokers provide. I haven't tried, but it a quick Google search states that modern computers can brute force an 8 character, complex password in about 8hrs. Also unsure if brokers store the passwords they generated when they created the account; they shouldn't as there is no real legitimate purpose, but you never know these days.
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