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Trading Account security good news


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#1 Rogerdodger

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Posted 08 October 2007 - 09:11 PM

One big concern that I have had is the vulnerability of trading accounts to fraud.
There are no government regulations protecting these accounts as there are with bank accounts.
Tonight on Clark Howard's radio show, he mentioned that only 3 brokers, E*Trade, Charles Schawb and now Vanguard, insure their customer's accounts from fraud:

Vanguard's online fraud policy

Our commitment regarding online security is simple. If assets are taken from your account in an unauthorized online transaction on Vanguard.comŽ—and you've followed the steps described in the Your responsibilities section below—we will reimburse the assets taken from your account in the unauthorized transaction.


Edited by Rogerdodger, 08 October 2007 - 09:22 PM.


#2 johngeorge

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Posted 08 October 2007 - 10:38 PM

TD Ameritrade supplies the following guarantee:

What is the asset protection guarantee?

This guarantee means that if you lose cash or securities from your account due to unauthorized activity through no fault of your own, we'll reimburse you for the cash or shares of securities you lost out of your account.

To provide this guarantee, we ask you to help us help protect your assets and information in the following simple ways:

  • Keep your account access information private: Don't write it down near your computer, let a neighbor or co-worker watch you type in a UserID or password, or give login information to anyone you don't want to gain access to your account. Remember that any individuals you've granted authority to act on your behalf in your account (perhaps your spouse, child, or investment advisor) would be considered authorized, so their activity isn't covered by this guarantee.
  • Check your account frequently.
  • Carefully review your account statements and trade confirmations.
  • If you ever suspect that you've been a victim of theft or that unauthorized activity has occurred in your account, please notify us immediately. We'll investigate your claim promptly. We'll help you take steps to protect yourself and your system from further loss. We'll also ask you to cooperate in any investigation that might be necessary.
To learn more about simple but powerful steps that can help safeguard your computer and information, visit the Security Center and take advantage of free or discounted offers for security products.

We're committed to delivering one of the highest levels of security in the industry and safeguarding your privacy. Our firm is carefully managed under intensive regulatory oversight and following strict security requirements. We continually review our security practices. All of these measures are our ultimate insurance for our clients' assets; this guarantee protects you in the unlikely event that your assets are stolen.
Peace
johngeorge

#3 IndexTrader

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Posted 09 October 2007 - 07:50 AM

Just make sure that you never do anything "negligent" that causes someone to make a transaction in your account steming from your "negligent" actions. IT

Edited by IndexTrader, 09 October 2007 - 07:51 AM.