Online investing is so easy now that sometimes it makes me scared that my account can be hacked. Having your online broker account violated is much more serious than say, having your Twitter account compromised. After all, for most people, all their savings is in that broker account.
When I was learning how to buy stock and trying to pick a broker, one thing I noticed is that E*Trade has something they send you called a Digital Security ID. What this does is add 6 random numbers to your password that you have to type in everytime you want to access your account. Somehow the ID they send you spits out random numbers every minute that you have to enter after your password. If you wait too long, the number won’t work and you will have to use the next one. How it works exactly I have no idea but it does make your E*Trade account extremely hard to break into.
You hear about major accounts like Target being compromised all the time it seems now. Online security is something many people worry about because so much of our personal information is on the Internet for any hacker to steal. That is why I am especially appreciative of the Digital ID from E*Trade that makes me feel that my money is truly safe with them.