THIS SUCKS ITS GOING TO BE TEDIOUS JUST TO LOGIN Secure Device Required for TWS Integration of the Secure Transaction Program and TWS login process is complete. Implementation for traders will take place in 5 business days. Starting Thursday June 14th, traders will be prompted with a challenge number upon logging into the Trader Workstation. If there is a problem with the device, IB will allow a 5 business day exemption from the process. You will need to contact the Help Desk and request a one time challenge pin. That pin will work for 5 business days. The STP program is mandatory. We understand security, by nature, is not convenient and it may be frustrating adjusting to this new security system. However, there is an increasing (and well reported) incidence among banks and brokers worldwide of account intrusions creating significant losses in the compromised accounts. Losses can occur in the form of withdrawal of funds, via unauthorized trading activity, as well as secondary forms of identity theft. The intruders are highly sophisticated so even clients with basic security practices such as firewalls should not consider themselves immune. The BEST form of account security requires a physical device in the possession of the authorized user. This is the basis of IBâs security protocol. During US business hours (8:00 to 18:00 EST), please call 203-618-4006 for support or with any questions related to your device. Please use the local help desk numbers during European and Asian business hours. Please give this process a chance. It is the best way to protect your assets. IB Professional Services Interactive Brokers LLC
Does IB just mail the security device to your address or do you have to ask for first? Do they email/confirm when they send it out?
its voluntary to join. if you ahve over 1000k they email and ask if you want to join it. now i joined 2 years ago so if you ahve 100k or more it might be mandatory. if you lsoe it cost $150 to replace. there's no way anyone can steal a penny from account with it but to be honest its a pain in but and if you have to log on with it might influence if i stay at ib. for instance i trade upstairs and downstairs in my house daily and i have 2 accounts with ib so thats 2 different stop logins. also i'm going on vacation for a week so i have to bring the stp with me now. IB'S WHOLE PROBLEM IS YOU HAVE ACCESS TO YOUR STATEMENTS AND OTHER INFO THREW THERE TRADING PLATFROM. OTHER SYSTEMS I TRADE WITH YOU CAN'T ACCESS ACCOUNT INFO THREW THE PLATFORM AS YOU MSUT LOG INTO ANOTHER SITE
Why does having access to statements have anything to do with it? If someone accessed my trading account, then seeing my statements would be the least of my worries. I would say that if you are going on vacation then this is the time when you will need the STP token the most. Hotels PCs and wireless connections are probably the most vulnerable connections you'll ever use. I expect that in a couple of years time, every single broker and bank will have these tokens as mandatory.
why would anyone want to access my account if they can't get my money? they just want to trade it for kicks?steve how is anyone going to steal money from my account if they need a stp token with challange strings? its just a pain in the but to go throw challange questions to login in 2 or 3 times a day. and what happens if i get bumped off during the day and i'm stuck in a trade? it takes 1-3 minutes to get back in. its cumbersome as hell.
no need to whine. This stp thing will be a standard equipment everywhere. Many people, including myself, have been using one with banks, etc., for more than a year. It is like wearing seatbelts while driving, or putting on a lifevest while sailing. Do it, or stay home. As simple as that. You just have to realize, at this stage, no amount of whining will change the stp course for financial institutions. Get with it. Such as life.