IB Secure Device

It seems to me that no broker, IB or anyone else, would be responsible for security problems beyond their own system. Why would they? Maybe that's not your point. Maybe what you're trying to say is that even with this security device someone can hack into my account, due to a failure in IB's system. I don't believe that. But I'm open to an explanation of how that would take place. Do you have one?

OldTrader

 

I like this idea, so I submitted an request for enhancement. The filtering need not be complex (e.g. no penny stocks, no thin markets, etc) and could apply to only opening transactions.

 

Does e-trade use some insurance specifically for online fraud?

 

Here's an idea:

Make it so if you have long term positions, you can "lock" those positions.

You have to enter in the RSA passcode on a different screen to "unlock" the positions, so even if someone hacks into your machine, and gets into TWS (which i'm assuming you'll need the RSA passcode to get into TWS), your blue chips are still protected.

 

did you submit as a feature poll entry? if so, please give your submission user ID, so all of us in favor can vote for it.

 

Heres a filtering idea.

Security key for money transfer.
Log on without security key.

But.

To trade anything you haven't been trading in the last 30 days requires the security key (it could be 7 days or 90 days).

So the security key is for changes of easily measurable behaviour.

Can IB please give us an idea how hard/easy the various filtering ideas would be to implement to assist in picking/voting?

 

Shall we step back to square one to get a sense of risk?

What is the likelihood or probability that a new PC with XP or Vista (plus most up to date SP), with just trading apps downloaded from IB or other well-known brokers installed, will be hacked or hijacked? That PC is on DSL or cable broadband, with no firewall and no virus scan, dedicated to trading only?

The reason I ask is, all the horror stories we hear have trojan or virus as common elements. If you do not use your trading PC for surfing or e-mail, how much risk is it exposed to?

 

This sounds like a great idea.

 

I'm very happy to see that IB will be offering this to all clients. I am not currently an IB customer, but your firm is certainly one that I am interested in opening an account with in the future.

I must admit that I am quite suprised by the quantity of complaints on this thread. I would guess that many of those complaining have never used one of these authentication fobs before. I have previously used this type of device for corporate purposes, and they tend to be very simple, easy to use, and typically only add a few seconds to a login procedure.

I would rather have an extra layer of security than save a few seconds at time of login, particularly when it comes to protecting my money.

 

I think you are right.

The only solution which would protect IB customers would be the ‘Complete Fraud Protection’ as E-Trade has already introduced.

I’m a IB customer since 2002 and I would expect from the leading firm to provide the optimum solution. Otherwise….