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Posted on 14/08/07

Security should be an issue when choosing an online broker

It's time to start thinking about security, and not just commission fees and service, when you decide which online broker to use.The Investment Dealers Association of Canada says its members are reporting about two to three instances of hackers gaining access to client accounts each month, and the results can be costly both in dollars lost and aggravation. That's the message from a woman who contacted this column last week about an incident on July 30 in which a hacker gained access to her account, sold her holdings and began buying shares of a Nasdaq-listed company.

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