Investing

Discount brokerage and login security

  • Last Updated:
  • Sep 27th, 2021 2:32 pm

Poll: Which brokerage has the best user security?

  • Total votes: 6. You have voted on this poll.
IBKR
 
5
83%
Qtrade
 
0
0%
Questrade
 
1
17%
Virtual Brokers
 
0
0%
WealthSimple
 
0
0%
Other (please specify in comments)
 
0
0%
[OP]
Member
May 6, 2009
261 posts
64 upvotes

Discount brokerage and login security

Hi everyone

I'm currently in the market and evaluating some of the popular discount brokerages out there (Questrade, QTrade, IBKR, etc) and consider myself pretty well versed on their fees, interfaces, etc.

One thing I don't see discussed relatively well is their user/ login security, and would like to see who you all think has the best user protection.

For example, I know Questrade has 2FA, but some of those options (esp SMS) are very weak. They've recently added an authenticator apps, which is great, but.... even that security falls apart in the face of a SIM swap attack.

What about the other brokerages? Are there any out there that absolutely ban SMS, while still allowing you to enforce 2FA?

I'd like to know my life savings are protected by something more than 'military grade encryption' and other such rubbish.

Thanks,
1 reply
Sr. Member
Oct 2, 2013
846 posts
263 upvotes
Mississauga
IBKR has good 2FA implementation.

I like that you need 2FA even for a withdrawal as well.

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