A summary of the security requirements of Forex software:
The software’s used in foreign exchange must be designed in such a way that ensures the safety, confidentiality, reliability and if required recovery of important data. If there is any loop holes exist ultimately it will result in loss of millions of dollars.
Forex Software Security
Encryption of data is a common way to protect the exchange of data. Encryption can be defined as a method that encodes the data which is transferred or exchanged during a communication in a unique way at sender side and receiver decodes the data by using similar algorithm at his side in reverse order. The data travels on a communication medium are useless for an outsider or intruder, if he is able to capture the data. If the intruder is able to decode the captured data, he is unable to read it. The strength of encryption is based upon the length of the encryption key. The key consists of a very long number that encrypts/decrypts the data. If key has a longer number ultimately it is hard to decode that key and read the data. Keys have different lengths ranging from 32, 64, 128, 256 bit and onwards. Minimum requirement for better safety is 64-bit. Main problem while choosing a key is a calculating power that is used to encode or decode the data or message. If we use a long key ultimately it will take more time for processing. For data integrity and its protection there are different software protocols used but mostly it is organized in a similar as discussed above.
We have located all of our important data at multiple locations to avoid any problem caused by any natural disaster or due to the failure of hardware or software used for protection of important data.
Security in UTC Brokers
UTC Broker is very much concerned about the protection, reliability and backup of the important data. We attain this through; Allowing access to only authorized persons.UTC Broker employs two best available firewall protection systems one each on server and application level. For verification of user and exchange of data, UTC Broker employs a sophisticated SSL by Digicert.
We have maintained separate servers for application level (which manages online activities of our users) and used different server to store data of transaction information. UTC Broker employs two special server farms for data recovery, reliability and duplication; both of them are situated at two different places. Data is organized and coordinated at both locations so nobody can tamper it. All important Information is encrypted on the servers. We have appointed armed-persons 24 hours a day for the protection of farm from outsiders, only authorized persons are allowed to visit the premises.