Recently, Cloudflare released a report on DDoS attacks, which revealed that Cyprus was the most heavily targeted country in the world during the period. The high frequency of DDoS attacks in Cyprus may be due to the country’s significant role in the financial industry, particularly the foreign exchange industry. Foreign exchange brokers have become a prime target for attackers.
What is DDOS?
A DDoS (Distributed Denial of Service) attack is a type of malicious network attack that aims to disrupt the services provided by a targeted server or network by flooding it with an overwhelming amount of traffic or requests. This attack is often carried out by utilizing a large number of computers or devices that are controlled by the attacker to form a botnet or a coordinated attack.
Types of DDoS attacks
There are several types of DDoS attacks, including:
- DDoS ransom attack: The attacker floods the victim’s Internet service with a massive amount of traffic and demands a ransom to resolve the problem.
- Application layer DDoS attack: Designed to overwhelm the web server by making it unable to process legitimate user requests.
- Network layer DDoS attack: Aims to overwhelm the victim’s network infrastructure, such as inline routers and servers, and the Internet links themselves.
Why are forex brokers particularly vulnerable to DDoS attacks?
Forex brokers are a prime target for DDoS attacks for several reasons:
- Their customers are extremely sensitive to website availability and do not tolerate disruptions.
- They operate globally and have high brand awareness, making them more likely to be targeted by attackers.
- They have a fast-paced business model, which can leave their overall cybersecurity at risk and require more time and resources to improve and mature.
Fortex’s Infrastructure for Preventing DDoS Attacks
Fortex is a global provider of multi-asset trading solutions for top financial institutions worldwide. Its infrastructure is designed to prevent DDoS attacks, utilizing a multi-layered network defense system with IDS, IPS, firewall, and anti-virus software.
Fortex’s DDoS attack detection and mitigation system uses advanced machine learning and AI technologies to monitor traffic and respond quickly to attacks. Its hardware and software devices are highly defensible and can withstand DDoS attacks of hundreds of Gbps.
Fortex collaborates with other organizations to enhance network security using cloud service providers’ resources. Its infrastructure provides a secure and stable trading environment, ensuring customers’ uninterrupted service delivery.
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About Fortex
Founded in 1997, Fortex Technologies aims to revolutionize trading with its powerful, neutral, multi-asset trading platform focused on the FX, and equities markets. Fortex’s XForce solution, ECN, MT4/5 bridges, infrastructure hosting, and more are used by regional banks, hedge funds, asset managers, broker-dealers, and professional traders around the world to enhance liquidity access, improve execution workflows and support sophisticated trading strategies.