If I understand this correctly, you would have to enter this password into TWS when you login before you can trade correct? What about people like me who run automated trading systems? My bot turns on TWS everymorning, logs in and starts trading.. are you telling me I'm now going to have to remote into this machine at the data center, and manually log into tws? Or is this not something you have to do just to login and trade with TWS?
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IB Secure Device
- Thread starter IB Salvatore
- Start date
Quote from walterjennings:
mouse loggers and screenshot taking is just as easy as key logging.... i dont see how that provides any extra protection beyond the fact that most hackers only use keylogging ... currently.
If the virtual keyboard uses non-standard digit/character placement and or shifting their positions, then problem solved.
As the previous input cannot be replicated.
Regarding the new IB security device - great idea if it works as intended. Having a choice to opt out would not be a bad idea, if the person wants to risk their own money why not let them, after signing a waiver that they will not bitch thereafter.
API customer will need to manually log in.
Can I opt out of the device? Find it too much hassle to enter extra steps just to trade. Maybe for withdrawal, but it is just too much trouble to enter it just to trade.
Quote from IB Salvatore:
1. What are the steps IB will take to deploy this for individual accounts? eg will they first contact the client? How? Phone? Email? or will they just send this device in the mail and simultaneously notify the customer and require entry of the new PIN on a certain date?
Customers will be contacted and actively enroll themselves through Account Management.
What will happen to customers who delay or refuse to actively enroll themselves or cooperate with the new changes?
Quote from IB Salvatore:
2. What if you live in a remote area or overseas where mail delivery of the device is not reliable?
This is a massive project. ALL variables have been taken into consideration. Customer convenience was the primary objective of the release.
Ok that doesnt quite answer my question but at least it gives me an idea that this has been taken into consideration. I guess you cant disclose everything here...thank you
Quote from lxor:
If the virtual keyboard uses non-standard digit/character placement and or shifting their positions, then problem solved.
As the previous input cannot be replicated.
Regarding the new IB security device - great idea if it works as intended. Choosing to opt out would not be a bad idea, if the person chooses to risk their own money why not let them.
if someone records a screenshot of the 'non standard digits/characters pad, and sees where you clicked on that pad and in what order... how would they not know your pin? maybe i dont understand the concept correctly. the pin does'nt change correct?
Yeap, it should be optional instead of mandatory.
crazy_trader,
We had considered allowing a opt out option where the customer provided documentation they had chosen the more dangerous road, but at this point we believe the program should be mandatory. Once customers have the device, they will see the inconvenience is extremely minor.
We had considered allowing a opt out option where the customer provided documentation they had chosen the more dangerous road, but at this point we believe the program should be mandatory. Once customers have the device, they will see the inconvenience is extremely minor.
I believe this is a big mistake on the part of IB to require API users to have to manually log in. There should be an opt out option... At the very least when you create a second user name for your individual account your able to specify what that account can do. Such as funds management and trading.... If you specify a second user name for your account to only do trading, you should be able to allow that account to login without this option. Having a fully automated system and then being required to login DAILY for it to work because the TWS turns itself off once a day..... this removes a lot of the convience you have with automated systems and is a big mistake.
I work for a network security company and we have designed several multi-factor authentication schemes for clients. There are other ways to produce multi-factor authentication without causing this big of an invonvience to select users of IB. One of the primary reasons I switched to IB was to have a fully automatic trading machine. This new "security" measure effectively takes that away from me. IB promotes the use of trading bots and is one of the best brokers to be at if that is your goal. Why make this requirement which would undoubtly turn people away?
I work for a network security company and we have designed several multi-factor authentication schemes for clients. There are other ways to produce multi-factor authentication without causing this big of an invonvience to select users of IB. One of the primary reasons I switched to IB was to have a fully automatic trading machine. This new "security" measure effectively takes that away from me. IB promotes the use of trading bots and is one of the best brokers to be at if that is your goal. Why make this requirement which would undoubtly turn people away?
Hi IB Salvatore,
what happens when somebody travels around the world all the time and losses his SecureID (or it gets stolen - not uncommon in some part of the world)? Does that mean that he is basically cut out of his positions for maybe weeks before IB delivers a new one?
This change means to me that IB is becoming one step less interactive!
I use IB SecureID for years for fund transfers but to start to use it for every day trading is quite a different matter!!!
what happens when somebody travels around the world all the time and losses his SecureID (or it gets stolen - not uncommon in some part of the world)? Does that mean that he is basically cut out of his positions for maybe weeks before IB delivers a new one?
This change means to me that IB is becoming one step less interactive!
I use IB SecureID for years for fund transfers but to start to use it for every day trading is quite a different matter!!!