Activation of the Trading App

Two-factor authentication (2FA) is a paradigm that provides for two different authentication steps: The first consists of login credentials (username and password) and the second is usually a code that is either sent to the user's cell phone number via SMS or generated by a security app. Alternatively, a specific biometric element (fingerprint, FaceID or VoiceID) can be used instead of the code.

Mobile authenticator apps are a type of second-factor authentication based on the industry standard TOTP (Time-based One-Time Password). An authenticator app is a software solution that is independent of phone companies or internet access and generates unique numeric codes offline based on a secret key and the current timestamp. Each code is normally valid for 30 seconds.

Every user who registers with one of the CapTrader platforms (account management and all trading platforms, including mobile platforms).

CapTrader clients will receive a 2FA activation login task in their account management. When clients log in to account management, mobile apps or trading platforms, they can launch the task and instantly activate a Mobile Authenticator app of their choice by scanning a QR code displayed in the task itself.
The login task for 2FA activation can be skipped up to three times. After this, the customer is forced to activate the Mobile Authenticator for security reasons before they can continue.