XTB review: Emergency lock tool enhances account security for investors
XTB has introduced a new security feature in its investment app, allowing users to immediately lock key account functions in case of suspected unauthorized access. This feature, called "Emergency Lock", enables investors to block fund withdrawals, card payments, and asset transactions with a single action in the app.
- Chosen by 3 200+ local traders in the last 3 months.
- Traders earn on average 12% more per month vs other brokers.
The brokerage company stated that this new tool is designed to provide clients with more direct control over their account security, as cases of digital fraud and data theft continue to rise in the financial services sector.
Immediate control over account activity
The Emergency Lock feature allows clients to instantly suspend various types of activity on their accounts. This feature is available to all users of the XTB investment app.
Once activated, the tool blocks the purchase and sale of financial instruments, prevents fund withdrawals from currency accounts, and disables transactions through e-wallets connected to the investment platform.
The goal is to provide investors with a quick response mechanism if they detect suspicious activity during the login process or suspect their login details may have been compromised.
By simultaneously freezing multiple functions, the feature attempts to prevent unauthorized transfers or transactions while the user checks their account’s security. The system also includes a verification step for restoring account access.
After changing the password, users must verify their identity through facial scanning before their account is unlocked and normal activities can resume.
Security issues in digital investment platforms
Over the past decade, online investment platforms have rapidly developed, with more people gaining access to financial markets via mobile apps. The rise of digital finance has also led to increased vulnerability to cyber threats, including phishing campaigns, data leaks, and account takeover attempts.
Fraudulent networks often try to obtain user credentials through deceptive emails, fake websites, or compromised third-party data sources.
As a result, financial institutions are implementing additional security measures to limit the impact of unauthorized access. These protective measures often include multi-factor authentication, biometric verification, and transaction monitoring systems.
It was earlier reported that XTB record ETF trading value reflects growing investor trust.
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