Is the transaction retrieve feature secure?
Fund Manager can use your broker's Open Financial
eXchange (OFX) server to download transaction, position, and pricing information.
To use this feature you must provide your account username and password to log into your broker's OFX server.
Fund Manager stores your username, password, and account number encrypted in your *.mm4 portfolio file on your local PC.
This information is only used when communicating with the broker's OFX server, and is never sent/stored anywhere else.
This information is never seen by Beiley Software or any of our servers. It is only stored on your local PC, and used when communicating directly with your broker's OFX server.
When communicating with your broker's OFX server all communications are done over an encrypted HTTPS connection, as required by the OFX spec.
For an extra layer of security (at the expense of convenience), you can leave your password blank when setting up this feature, and Fund Manager will prompt you each time for your password, but never store it in your portfolio file.
The OFX server is a read-only system. Fund Manager can only read data about your accounts, it is not capable of initiating any new transactions.
Some brokers are starting to use the newer Financial Data eXchange (FDX) technology.
FDX has all the same functionality and security as the OFX interface, but offers the additional benefit that your login credentials and account numbers are never shared with Fund Manager.
Currently, only Charles Schwab is using FDX.
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