Broker with different password to login platform and website | Forex Factory

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Broker with different password to login platform and website

  • #1
  • First Post: Nov 18, 2015 10:35pm Nov 18, 2015 10:35pm
Hi All,

Can you recommend broker that can create two password for the same account to login 1) to enter MT4 platform we key-in different password 2) we key-in different password to login website where we do deposit and withdrawal.

The reason was, I will be asking my friend to help me trade so I will give him my user and password to login trading platform but i do not want him to know my information as if can use the same password to login website.
  • #2
  • Nov 19, 2015 12:53am Nov 19, 2015 12:53am
Get him a demo account
  • #3
  • Nov 19, 2015 5:36am Nov 19, 2015 5:36am
Quoting Nisda_
Hi All, Can you recommend broker that can create two password for the same account to login 1) to enter MT4 platform we key-in different password 2) we key-in different password to login website where we do deposit and withdrawal. The reason was, I will be asking my friend to help me trade so I will give him my user and password to login trading platform but i do not want him to know my information as if can use the same password to login website.
I really don't known a broker can fulfill you needs but you should find a broker that requires 2-3 steps procedures before making any payments (deposit, withdrawal,...). Or you can ask your broker for phone confirmation. I think they would be comfortable to respond you.
  • #4
  • Nov 19, 2015 6:22am Nov 19, 2015 6:22am
Some brokers could provide an extra layer of protection on your website account via phone passwords, email confirmations, extra security questions upon logging into your website account...etc. I recommend to check the available security options with your broker.
  • #5
  • Nov 19, 2015 10:39am Nov 19, 2015 10:39am
How's about a PAMM account? he is the fund manager and you're investor.
  • #6
  • Nov 19, 2015 2:31pm Nov 19, 2015 2:31pm
Nisda, I guess MOST brokers if not ALL brokers do just that. Usually the login/password to log to their "member area" where you would be able to withdraw is NOT the same as the password/login to log to MT4 (especially as you usually can have several MT4 accounts, which will all have different login/password)

If I remember well, Oanda, FxPro, FxPrimus, Pepperstone and ThinkForex that I all have used in the past were working this way.
  • #7
  • Nov 19, 2015 3:13pm Nov 19, 2015 3:13pm
Quoting Nisda_
Hi All, Can you recommend broker that can create two password for the same account to login 1) to enter MT4 platform we key-in different password 2) we key-in different password to login website where we do deposit and withdrawal. The reason was, I will be asking my friend to help me trade so I will give him my user and password to login trading platform but i do not want him to know my information as if can use the same password to login website.
The short answer is no.
You can however get him to set up a demo account and you copy trade his demo account to your live account.
or
Get him to set up a live account as well so he has skin in the game and copy trade that.

the only thing I will add to this is be prepared to lose and save your friendship.
  • #8
  • Nov 19, 2015 3:37pm Nov 19, 2015 3:37pm
Quoting Nisda_
Hi All, Can you recommend broker that can create two password for the same account to login 1) to enter MT4 platform we key-in different password 2) we key-in different password to login website where we do deposit and withdrawal. The reason was, I will be asking my friend to help me trade so I will give him my user and password to login trading platform but i do not want him to know my information as if can use the same password to login website.
Open a sub-account & transfer the amount of money you need from the main account to the sub-account.
You will have a separate account # and password for that account you can give to your friend.

Here is a quote from a broker on this topic:

"When opening a sub-account you will be offered to create a password only to your MT4 subacount.
Your MT4 subaccount number will be your MT4 login. So, if you give your MT4 account number and password to your trader they will be able to login only to this account but they won't be able to access your account on our website and see your personal information."
  • #9
  • Nov 19, 2015 6:03pm Nov 19, 2015 6:03pm
Quoting Nisda_
Hi All, Can you recommend broker that can create two password for the same account to login 1) to enter MT4 platform we key-in different password 2) we key-in different password to login website where we do deposit and withdrawal. The reason was, I will be asking my friend to help me trade so I will give him my user and password to login trading platform but i do not want him to know my information as if can use the same password to login website.
Hi Nisda,

A better option to consider is a limited power of attorney (LPOA). FXCM allows you to designate an authorized trading agent for your trading account with us by completing an LPOA form. If your friend completes this form, then he can be given a special trader login for your account. This login would only allow him to place trades, but not to make deposits or withdrawals. Other account privileges including the right to transfer funds would be available through a separate login to which only you would have access.
  • #10
  • Nov 20, 2015 12:46pm Nov 20, 2015 12:46pm
This is not new issue and most broker can allow their trader to use 2 passwords or limited in payment. But I think this is reason for PAMM exist.
  • #11
  • Nov 20, 2015 12:59pm Nov 20, 2015 12:59pm
did you consider using 2 different accounts? I am sure that can be done on just about any broker,
or maybe that doesn't work for you?
Bulls are stupid Animals!especially when Im short!
  • #12
  • Nov 23, 2015 11:02am Nov 23, 2015 11:02am
how 2 accounts can resolve his issue? Can you clarify. He wants one account with another password for payment transactions.
  • #13
  • Nov 23, 2015 11:12am Nov 23, 2015 11:12am
Quoting asrona
how 2 accounts can resolve his issue? Can you clarify. He wants one account with another password for payment transactions.
account 1, your real trading account, with password 12345
account 2 your guest trading account with password 6789

move money to account 2, from account 1, friend can trade

maybe I'm missing something?
Bulls are stupid Animals!especially when Im short!
  • #14
  • Nov 24, 2015 1:53pm Nov 24, 2015 1:53pm
Honestly I am not exactly able to get what your main worry is because it makes no difference if he even login on the web site…. I mean for withdrawal you are required to put Pin Code right? I believe that’s the case with majority of the broker, so unless someone knows your pin code, it is nothing to worry.
  • #15
  • Nov 24, 2015 2:10pm Nov 24, 2015 2:10pm
Also if i remember correct brokers only allow to withdraw to bank accounts on the same name as where the deposit came from?
  • #16
  • Jan 5, 2016 8:12am Jan 5, 2016 8:12am
Thanks for the reply.

All the brokers I checked use same password and username for Mt4 and member area. I just want him to run the Mt4 and not to enter member area where he can see the personal details of mine such as credit card and etc. Although we are friends but I guess I'm not to the extend to trust him more than just helping me to trade.
  • #17
  • Jan 5, 2016 5:13pm Jan 5, 2016 5:13pm
ICMarket uses different id & password for member area. The ID is alphanumeric and you choose/create your own.
From member area you can see all your trading accts - MT4 & ctrader. You can create new demo or live acct from member area, each with its own id(numeric - system generated) and password.

I normally change the default MT4/ctrader id to my own since I don't know how secure the broker internal system is. But withdrawal is to bank acct with your name means that no 3rd party can make withdrawal.

What I like about the member area is to transfer money between trading accts and it happened in real-time - handy to avoid margin call in one acct, then move the funds back once the crisis is over!
  • #18
  • Last Post: Jan 11, 2016 8:47am Jan 11, 2016 8:47am
Quoting Nisda_
Hi All, Can you recommend broker that can create two password for the same account to login 1) to enter MT4 platform we key-in different password 2) we key-in different password to login website where we do deposit and withdrawal. The reason was, I will be asking my friend to help me trade so I will give him my user and password to login trading platform but i do not want him to know my information as if can use the same password to login website.
Hi Nisda,

OANDA does offer this option. You can have access to your admin page to deposit, change leverage, withdraw, transfer funds etc, and then also have up to 19 different MT4 accounts with each having a separate login number and password.

Our FxTrade platform can also act as a remote access to each MT4 account - meaning that you can either login to your mobile device, or desktop platform and have control on the fly over each individual MT4 account. You can see trades taken in real time and intervene if needed as well. A POA will be needed to set this up for a trader as well.

I'm Happy to give a quick demo to anyone interested.

Cheers,
Disclaimer: Leveraged trading is high risk. Losses could exceed investment.
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