Security Guidelines
Saxo Group has a strong commitment to information security. To meet our high level of security standards as well as those of the legal bodies regulating our business sector, Saxo Group places a strong emphasis on securing the trading platforms that our clients use. Even with this diligent effort in place, you must be aware of what you can do to maintain as well as increase the security of your trading platform – your PC.
2FA Risk Awareness Statement
What is 2FA?
2FA (also known as 2-Factor or Multi-Factor Authentication) is the verification of a user’s online identity using at least two distinct factors, comprising of “something you know”, “something you have” or “something you are”.
When a Saxo client wishes to access an online service provided by Saxo, the client is required to enter the client’s own password and a One-Time-Password (OTP) (which may be delivered via SMS) or a Push notification approval delivered via the Saxo app on a previously designated ‘trusted device’; as part of a 2-Factor authentication process.
What is the purpose of 2FA?
The key objectives of 2FA are to protect the client’s online trading account and information from unauthorised access and enhance the overall security of online trading systems.
Saxo Group takes a proactive role in protecting our clients. We have risk-mitigating measures in place to protect your online trading account and information from unauthorised access. Should you require assistance, please contact Saxo Group for more details.
Is 2FA compulsory for trading through Saxo Group?
Yes, 2FA is mandatory. This helps further secure your online trading account and prevent possible losses due to a potential account compromise. Clients should exercise due care to safeguard their password and one-time password (OTP), and never disclose them to third parties including personnel from Saxo Group.
What additional measures can I adopt to protect myself while trading online through Saxo Group even with 2FA in place?
Below is a list of some of the practices we urge you to follow which may help secure the confidentiality and integrity of your passwords, security tokens, personal details and other confidential data. This may also help prevent unauthorised transactions and fraudulent use of your accounts to a certain extent as well as help to reduce the losses such actions might incur.
You should:
- Take the following precautions as regards your password:
- Your password should be at least eight characters of an alphanumeric mix.
- Your password should not be based on guessable information such as your user-id, personal telephone number, birthday or other personal information.
- Your password should be kept confidential and you should not divulge it to anyone.
- Your password should be memorised and not recorded anywhere.
- Your password should be changed regularly or when there is any suspicion that it has been compromised or impaired
- The same password should not be used for different websites, applications or services, particularly when they relate to different entities
- Not select the browser option for storing or retaining username and password.;
- Check the authenticity of our website by comparing the URL and our name in its digital certificate or by observing the indicators provided by an extended validation certificate.
- Check that the website address changes from ‘http://’ to ‘https://’ and a security icon that looks like a lock or key appears when authentication and encryption is expected.
- Check your account information, balance and transactions frequently and report any discrepancy.
- Install anti-virus, anti-spyware and firewall software in your personal computers and mobile devices.
- Remove file and printer sharing in computers, especially when these are connected to the internet.
- Make regular backup of critical data.
- Consider the use of encryption technology to protect highly sensitive or confidential information.
- Log off after each online session.
- Not install software or run programs of unknown origin.
- Delete junk or chain emails.
- Not open email attachments from strangers.
- Be sure about who is calling. Saxo Group will never ask you for personal details like password via phone or other means.
- Not disclose personal, financial or credit card information.
- Not use a computer or a device which cannot be trusted.
- Not use public or internet café computers to access online services or perform financial transactions.
Should you suspect any irregularities, please contact Saxo Group immediately.