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.
There will several variations of the new technology with differing degrees of complexity and security. The existing button-controlled Security Device is the state of the art and has been available as part Interactive Brokers' Secure Transaction Program (STP) for several years.
With any one of the IB Security devices, you authenticate that the financial transactions made in your account are authorized by you. The password generated by the Security Device can only be used once, making attacks by hackers and snoopers virtually impossible.
The deployment of this new system will affect (and better protect) all our clients and we expect many questions particularly from professional traders who typically have more demanding requirements.
Enrollment will start with our Advisor master accounts. Sub (customer) accounts will not be contacted. Advisors should expect notification of their enrollment some time in the next few weeks, starting tomorrow.
Security is by its nature, inconvenient. Unfortunately, it appears on-line account theft and market manipulation represents the most lucrative fraudulent opportunities for organized crime. We expect this will get much worse, and a physical device is the only way to protect your assets. A lesson banks have already learned.
Feel free to post your questions here or contact us through chat or Inquiry ticket.
There will several variations of the new technology with differing degrees of complexity and security. The existing button-controlled Security Device is the state of the art and has been available as part Interactive Brokers' Secure Transaction Program (STP) for several years.
With any one of the IB Security devices, you authenticate that the financial transactions made in your account are authorized by you. The password generated by the Security Device can only be used once, making attacks by hackers and snoopers virtually impossible.
The deployment of this new system will affect (and better protect) all our clients and we expect many questions particularly from professional traders who typically have more demanding requirements.
Enrollment will start with our Advisor master accounts. Sub (customer) accounts will not be contacted. Advisors should expect notification of their enrollment some time in the next few weeks, starting tomorrow.
Security is by its nature, inconvenient. Unfortunately, it appears on-line account theft and market manipulation represents the most lucrative fraudulent opportunities for organized crime. We expect this will get much worse, and a physical device is the only way to protect your assets. A lesson banks have already learned.
Feel free to post your questions here or contact us through chat or Inquiry ticket.