DDoS attacks have dramatically increased in recent years, and according to reports they show no sign of slowing down anytime soon. Not only have DDoS attacks become more widespread, they have also become more sophisticated and complex in nature. With that being said, organizations have no choice but to deploy the appropriate resources to detect, protect and combat these attacks.
In this article, we will take a look at how DDoS attacks are affecting the Forex industry and the most suitable solutions to protect Brokers from these threats.
What is a DDos Attack
A distributed denial-of-service (DDoS) attack is a type of cyber-attack that renders an online service unavailable by overwhelming its server or network with fraudulent traffic. By making resources unavailable to legitimate users, DDoS attacks can cause huge losses in revenue and productivity, significant brand damage, as well as creating more vulnerabilities for hackers to take advantage of. Whilst anyone can be the victim of a DDoS attack, statistics show that they are much more rife within the iGaming and Financial industries.
The Forex market in particular is a main target for hackers carrying out DDoS attacks. Last year alone we saw some of the biggest DDoS attacks carried out on well-renowned industry players. In April 2022, the crypto exchange platform Currency.com confirmed that they were the target of an attempted attack “ten times” bigger than anything they had ever seen before. Later on in the year, the online trading firm Swissquote experienced a large-scale DDoS attack that made their platform inaccessible and caused delays in services that lasted up to 24 hours.
The Best DDoS Protection for Forex Brokers
With over 15 years’ industry experience, NetShop ISP offers a range of solutions that are suitable to protect Forex Brokers against DDoS Attacks.
Web Application Firewall (WAF)
Web application vulnerabilities can become the main target for attackers and serve as a convenient entry point for further attacks. For instance, a misconfigured firewall configuration on the OS level, or an application running on a server which has not been tested for zero-day threats are two ways an attacker can find their way into the server and network.
In order to safeguard against attacks on web application vulnerabilities and prevent their exploitation, it is recommended to use a Web Application Firewall (WAF), which in essence is an assembly of monitors and filters that are designed to thoroughly detect and block vulnerabilities. A WAF provides the maximum level of application protection as well as the fastest possible resolution of security incidents. Overall it is the most efficient protection solution for web-resources since it doesn’t require any special infrastructure, the purchase of any expensive equipment or additional employee training.
NetShop ISP offers a comprehensive service that includes day-to-day administration, 24×7 proactive monitoring and alerting, as well as manual mitigation in the event of a large attack happening.
A premium DNS is a service that helps a website or server overcome an ongoing DDoS attack. It uses various DDoS protection elements like active monitoring and traffic filtering that keeps a website safe from unsolicited traffic. By utilizing our 30ms global TTL propagation, NetShop ISP can set up automatic failover and load balancing rules which will help make sure that your server is always available in case the primary is under attack. In order for the load balancing and failover to work properly, at least two servers on different networks are required.
DDoS Attack Automatic Mitigation
DDoS Auto-Mitigation detects DDoS attacks and prevents malicious traffic from reaching the intended target by redirecting it. NetShop ISP’s DDoS Attack Automatic Mitigation offers security protection at all layers, including Application Layer (L7). The protection runs 24/7, with the software working on its own and without the need for a human being to monitor traffic or divert bad traffic in the event of an attack.
We use BGP-Anycast architecture which guarantees a reliable, geographically distributed and fault-tolerant network. This means that traffic will pass through multiple filtering nodes which work in load balancing mode, so failure of any of the nodes will not have an impact on the client’s server or application performance.
NetShop ISP’s DDoS Attacks Mitigation and Security Solutions
Ensure a safer network and continuous DDoS mitigation that’s essential for running your trading environment without interruption. For more information on our cyber security services, get in touch.