[call for action] IB is forcing 2FA
- Thread starter windwave
- Start date
You know, the root of this conversation isn't really about whether TWS/IBGW is stable or not. That's a matter of degree... depending on the version you're using, how it's used, etc.
The issue is that people can no longer opt out of 2FA. I understand and empathize with both IB and the users on this issue. What some people fail to understand though, is that if a margin account is broken into via user machine it could not only cost the user money but it could cost IB money too!
After all, if you have a margin account you can lose IB's money in addition to your own. The fate of a margin account affects both the customer and the broker-dealer.
However, by forcing *everyone* to opt into 2FA, IB has unnecessarily "split the baby". It would be wiser, and not much harder IMHO, if they continued to allow opting out of 2FA but if and only if the user is using a cash account (or willing to switch back from a margin account).
Perhaps another example of how IB isn't "perfect", idk. Well, no one is so...
Just my 2cents; in case anyone from IB is reading and wants a suggestion
The issue is that people can no longer opt out of 2FA. I understand and empathize with both IB and the users on this issue. What some people fail to understand though, is that if a margin account is broken into via user machine it could not only cost the user money but it could cost IB money too!
After all, if you have a margin account you can lose IB's money in addition to your own. The fate of a margin account affects both the customer and the broker-dealer.
However, by forcing *everyone* to opt into 2FA, IB has unnecessarily "split the baby". It would be wiser, and not much harder IMHO, if they continued to allow opting out of 2FA but if and only if the user is using a cash account (or willing to switch back from a margin account).
Perhaps another example of how IB isn't "perfect", idk. Well, no one is so...
Just my 2cents; in case anyone from IB is reading and wants a suggestion
There is another option, and that's to use Open Authentication (OAuth) via the newish Client Portal Web API. It doesn't require 2FA, requires no GUI client and offers a true 'fully automated' solution.You know, the root of this conversation isn't really about whether TWS/IBGW is stable or not. That's a matter of degree... depending on the version you're using, how it's used, etc.
The issue is that people can no longer opt out of 2FA. I understand and empathize with both IB and the users on this issue. What some people fail to understand though, is that if a margin account is broken into via user machine it could not only cost the user money but it could cost IB money too!
After all, if you have a margin account you can lose IB's money in addition to your own. The fate of a margin account affects both the customer and the broker-dealer.
However, by forcing *everyone* to opt into 2FA, IB has unnecessarily "split the baby". It would be wiser, and not much harder IMHO, if they continued to allow opting out of 2FA but if and only if the user is using a cash account (or willing to switch back from a margin account).
Perhaps another example of how IB isn't "perfect", idk. Well, no one is so...
Just my 2cents; in case anyone from IB is reading and wants a suggestion
The only negative, for me, is the order types are a bit limited compared to TWS API, no Relative orders, no conditional orders.
I've always been a bit uneasy using IBC (or equivalent) apps because I'm using IB's software in a way that never really was supported - 24/7 automated trading.
So I'm looking into OAuth as a proper long term solution.
This sounds like wishful thinking to me. From what I can infer by reading this, you'll most likely need 2FA whenever the live session token expires and you need a new one.
Interesting, well maybe this is something on the horizon to look forward to.
¯\_(ツ)_/¯
Here's a ticket I submitted with IB:
"This will require a re-login and with this the use of 2 Factor Authentication (2FA) only once per week."
I would like to know what specific testing you have done to guarantee TWS staying up without issues for 1 week at a time? I auto trade and auto check if IB Connection is not code 2 (all OK) throughout the trading day, here are some instances where TWS had to be restarted mid-week:
IBC status is 0 or NO connection as of 2022-08-29 06:30:21 -0400
IBC status is 0 or NO connection as of 2022-08-18 23:01:07 -0400
IBC status is 0 or NO connection as of 2022-06-02 23:01:02 -0400
IBC status is 0 or NO connection as of 2022-05-10 23:01:35 -0400
IBC status is 0 or NO connection as of 2022-02-10 17:40:23 -0500
"This will require a re-login and with this the use of 2 Factor Authentication (2FA) only once per week."
I would like to know what specific testing you have done to guarantee TWS staying up without issues for 1 week at a time? I auto trade and auto check if IB Connection is not code 2 (all OK) throughout the trading day, here are some instances where TWS had to be restarted mid-week:
IBC status is 0 or NO connection as of 2022-08-29 06:30:21 -0400
IBC status is 0 or NO connection as of 2022-08-18 23:01:07 -0400
IBC status is 0 or NO connection as of 2022-06-02 23:01:02 -0400
IBC status is 0 or NO connection as of 2022-05-10 23:01:35 -0400
IBC status is 0 or NO connection as of 2022-02-10 17:40:23 -0500
Hi Mark, as I said in a previous post, there's an automation tool called IBAutomater (similar to IBC/IBController) which facilitates auto-restarts and can force a restart without having to log back in intra-week (https://github.com/QuantConnect/IBAutomater).
I've been using this tool as a replacement for IBC for nearly 4 weeks now, with no login issues intra-week so far.
My software stack does not support IB Gateway, I need TWS.