Any body else Sick of those log in cards with TWS

Discussion in 'Trading Software' started by Magnum29466, Apr 30, 2009.

  1. I created a new account at TWS and now they have some new security system, so before loging in you now have some code card you have to use to find the code to log in with. in my opinion its annoying. I see that the card has a bar code so hopely we may be able to swipe it soon instead of deciphering codes like a ceral box detective.
  2. I thought I was the only one....

  3. rwk


    I find it annoying and hard to use, but I don't expect to opt-out. I think it works well for its intended purpose, i.e. security. I have pretty well gotten used to it.
  4. I actually like those cards more than the electronic "calculator-like" devices.

    At least you can make a duplicate of the card and store it/take it with you.

    The electronic crap can't be hidden/lost. It *always* has to be with you if you ever want to use or access the account.
  5. Was tws encountering security isssues? were people hacking other peoples accounts or something like that. There new system is more intricate than logging into your own bank account.
  6. I wasn't given the opinion to opt out. I got a letter with my card stating it was mandatory. my other account is still basic log in though.
  7. niteowl8


    I actually like the card. If you have never had your identify/personal info stolen before, you would not understand the hassle of trying to fix everything.

    I rather log in with a extra couple seconds and make sure my identfy is secured...
  8. dcvtss


    It is a way to enforce strong security. Some users left to their own devices will invariably have lax password security practices and get their account compromised. From IB's perspective it is an "ounce of prevention" type thing.
  9. rwk


    Apparently there was a problem. I can't find the article, and my memory is hazy, but I seem to recall it happened in Estonia. I think somebody used a keylogger on a public computer (probably an Internet cafe) to steal logins. Then they placed unauthorized trades using a variation on the old pump-and-dump scheme. They ran the price up using stolen passwords and dumped their stock at a profit, leaving the account holders with big losses.

    I misread the OP. I have the calculator-like devices for two accounts. They work, but it takes patience to get it right.
  10. cstfx


    2 yrs ago there was Eastern Europe hacking on trading accounts with ETrade and Fidelity (i believe) in which they didn't steal money but tradeed your account in very illiquid stocks that they had in inventory. They basically used your money to buy worthless stock marked up. Neat, huh?

    IB became proactive and began requiring all logins with a security challenge and answer. There is an opt-out, but you are highly warned against it.

    How to get around the "annoyin" card system? One way is to set up an authorized user under account management which is not automatically tied to the card. Another way is to use IBController, a logon script that allows you to login once a week and keeps the session active during reset times. You can find it on TWS usergroups. It is not the amibroker software.
    #10     Apr 30, 2009