One of the leading forex brokers from Cyprus, eToRo, was reportedly hit by a system hacking attack (DDOS Attack), since Thursday (03/07) last week.



Reporting from Forex Magnates, the e-toro site and features were down and inaccessible on Thursday. The following day, the website was accessible, but several traders were still having difficulty accessing certain features. This is very unfortunate, considering that on Thursday and Friday last week, the volatility of the forex market was quite busy due to the US NFP report, where traders traded forex ahead of the US Independence holiday on Friday, July 4, 2014.

The DDoS attack started at 07:12 GMT or on Thursday at 14:12 WIB invited complaints from the broker's clients. Application dysfunction and problems logging into accounts are the main complaints from clients that eToro receives.

eToro stated that they were working on "system stabilization" to solve this hacking problem by irresponsible parties. On Monday (07/07) afternoon today, the SeputarForex team has been able to access the features on eToro. It seems that this problem is gradually starting to be addressed.

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The problems experienced by eToro this time seem to remind us of the case of a hacker attack that toppled the giant bitcoin broker, MTGox. Apart from that, OANDA also experienced a hacker attack in March 2014. Luckily, the attack did not have much effect on the forex trading service at the Canadian broker at that time.

The attacks on eToro and OANDA should indirectly warn other online forex brokers to tighten their security systems. In addition, for traders, system security issues from hacker attacks should be considered a risk in forex trading. So, it is hoped that traders can choose a broker that better guarantees their system's security. In addition, it is also recommended that traders manage finances in the account and anticipate if hacker attacks cause losses.