IB Secure Device

[sprstpd]

Quote from Bell:

Brokers will do get an STP devices. As for broker customers, IB haven't decided yet how this will be implemented. Which is quite scary as unauthorized trading was presumably their main concern. Not withdrawals.

Sorry, you missed contradiction between the two statements in official e-mail Notification and IB web site:

"This system will be required for access to the Workstation as well as financial withdrawals."

"If you are signed up for an IB Security Device, the security will not be required in order to login to the Trader Workstation."

Those who long enough with IB know that customer reps giving different answers is a commonplace

It says on the website that Brokers do not get an STP device. However, since I am not a broker, I am just assuming that they got this correct on their website. Since you appear to be a broker, do you have an STP device?

I believe their notification was a warning for the future - that the STP device will eventually be integrated into the login process. As the original post states:

Because of the increasing frequency of fraudulent activity targeting online financial services providers, Interactive Brokers will be requiring the use of a security device in the near future. This system will be required for both trading (TWS and WebTrader) as well as financial withdrawals.

Also, I disagree with you that getting contradictory answers to a question you pose an IB representative is "commonplace." I have been an IB customer almost since they started their retail brokerage.

 

[mde2004]

All these people who are upset with customer service are the ones who need their hands held through everything. I have not had to call customer service in the one year that I have been with the firm and am pleased with IB. They are a professional trading firm, not a newbies guide to success. This is not E-Trade or Schwab guys.

 

[Bell]

Quote from sprstpd:
It says on the website that Brokers do not get an STP device. However, since I am not a broker, I am just assuming that they got this correct on their website. Since you appear to be a broker, do you have an STP device?

No yet, but it was offered (I do say, there're contradictions). I won't get into detail how much headache it would add to the business. And although we have opt out of the program, it would created another problems.

I believe their notification was a warning for the future - that the STP device will eventually be integrated into the login process.

It seems they just lack of clear plan.

Also, I disagree with you that getting contradictory answers to a question you pose an IB representative is "commonplace." I have been an IB customer almost since they started their retail brokerage.

Running a business isn't the same as receiving sporadic service being a retail client. Although I'm sure there're plenty retail customers who would agree with me. In the end, look at their "Training & Tech Support" score http://www.elitetrader.com/br/?action=view&R_FirmID=43

 

[chud]

I agree Bell. I keep seeing all these conflicting statements in IB's emails about this and am more worried about security than before I had ever heard of a "security device." If IB seemed to be sure of what they were doing, it would inspire a lot more confidence.

 

[garymc]

If you have an account at IB, you can still vote for IB to have Full Fraud Protection.

Go to...
http://www.interactivebrokers.com/en/general/poll/poll.php?ib_entity=llc#cat_all

and open up Account Management and search for the text below. Anyone with an account at IB can vote for this...


Title: Fraud Protection Guarantee

Many IB competitors promise to their customers that they will cover any loss that results from the unauthorized use of our brokerage, banking or lending services (“Full Fraud Protection Guarantee”). Please provide IB customers with the same promise and fraud protection guarantee. Thank you.

 

[Catoosa]

As of today,The "Platinum Security Token" is not being offered as an option on IB's web site. I sure hope IB is only temporarily out of stock os the Platinum Tokens.

 

[tradingke]

Is TWS opt-out in place?
My TWS has started the challenging, I'd like a way to avoid manual steps for API trading.

 

[science_trader]

Quote from tradingke:

Is TWS opt-out in place?
My TWS has started the challenging, I'd like a way to avoid manual steps for API trading.

yes

 

[tradingke]

Quote from science_trader:

yes

how? I don't see any opt-out option in the account management.
thanks

 

[Bob111]

Quote from tradingke:

how? I don't see any opt-out option in the account management.
thanks

probably for advisers only. posters need to be specific with account types.