When you lose the phone the app is useless and cannot be abused without knowledge of a pass code that one has to enter each time upon login. It's an intelligent design to provide a strong key that is heavily encrypted to log onto ib but via a mobile app with only knowledge of a simple pass code which can be as short as 4 digits. The pass code is only in order to avoid abuse should the phone fall into the hands of others.
I see. So you don't even need to type in the password? I like that I have to type in the password and then type in a code with the two factor authentication. Or maybe you meant you type in a password to get a code? I guess it works out to be the same in that case. I might try it for a while once my card dies. But I still want it on a separate spare phone instead of my usual phone I carry around. Regarding the e-card, I looked up the manufacturer and it states 3 years battery life under normal conditions in their FAQ: https://www.nidsecurity.com/faq/
Yeah I'm not sure either. I think it works just like any other situation whether at a bank or otherwise where you call into customer service and they ask you 'security questions' and give you temporary access or something until you get set up.
With my current version of TWS on the desktop, I can bypass the multi factor authentication and still log into the account. In this "mode", I can't trade but at least I'm in the account - which should allow me to chat with customer service and work on a replacement etc... One of these days I'm going to drop my phone in the toilet or run over it, and I already have too much of my life on that thing.
If you have IB or e-mail on your phone, you should encrypt and password protect your phone. That way if it gets lost, you don't panic about someone else hacking your accounts.
I have an Android...not sure how to encrypt on iPhone, but would not be surprised if the phone is encrypted by default. For Android, I followed a similar guide to this: http://www.networkworld.com/article...-to-encrypt-an-android-device-in-5-steps.html
Confirmed this is correct. I have had to factory data reset my phone a couple times and that's how I get it (the phone) re-registered.