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What is the policy regarding client passwords at Tradejini?

Trading system provides the following authentication mechanism:

  1. For encryption of passwords we use 128bit encryption key with a proprietary logic, also have an option of storing it with 128bit encryption key and AES Encryption method.
  2. The system requests an ID & Password for logging in.
  3. The password is encrypted before transmission.
  4. The password is stored in an encrypted format in the database.
  5. Change of password is mandatory for the first time user.
  6. Change password cannot be the same as of the last 3 password.
  7. User cannot login after THREE consecutive wrong passwords & the user can login only after resetting the password by the administrator.
  8. The password should be of minimum 8 characters & maximum 12 characters in length.
  9. The password will be checked against log-in ID. The login id & password cannot be the same.
  10.  Space is not a valid character in the password.
  11.  Password expires automatically after 14 trading days forcing the user to choose a new password.
  12.  Password can be changed by the users at any time; the user will receive a pop up on the application when the password has expired and the user can update the password instantaneously.
  13.  Your password must contain at least one number, one each lower case and upper case character, one special character (#$-@) and minimum 8 digits long.

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