Secure your account with an additional layer of protection using two-factor authentication
Two-factor authentication (2FA) adds an essential extra layer of security to your trading account by requiring a second form of verification beyond just your password. In today's digital landscape where cyber threats are increasingly sophisticated, 2FA has become a critical tool for protecting your financial assets and personal information.
Two-factor authentication is a security process that requires two different authentication factors to verify your identity before granting access to your account.
Think of 2FA as a double-lock system for your account. The first lock is something you know (your password), and the second lock is something you have (your phone or authentication device) or something you are (biometric data). Even if someone manages to obtain your password, they still can't access your account without the second factor.
When you log in with 2FA enabled, after entering your correct password, you'll be prompted to provide a second piece of information. This is typically a time-sensitive code generated by an authentication app on your phone, sent via SMS, or produced by a hardware security key. This code changes every 30 seconds, making it virtually impossible for hackers to predict or intercept.
Trading accounts are particularly attractive targets for cybercriminals because they often contain significant funds and sensitive financial information. 2FA provides several crucial benefits:
First, it dramatically reduces the risk of unauthorized access. Even if your password is compromised through phishing, data breaches, or malware, your account remains protected by the second authentication factor. Studies show that 2FA can prevent up to 99.9% of automated attacks.
Second, 2FA provides peace of mind. You'll receive notifications whenever someone attempts to access your account, allowing you to take immediate action if you notice suspicious activity. This early warning system is invaluable for protecting your investments.
Finally, many insurance policies and account protection programs require 2FA to be enabled. By using 2FA, you ensure you're eligible for maximum protection and support if something goes wrong.
Enabling 2FA on your WG account is straightforward and takes just a few minutes. We'll walk you through each step to ensure you set it up correctly.
Log into your WG account and navigate to your account settings. Look for the 'Security' or 'Two-Factor Authentication' section. You'll find this in your account dashboard, typically under a security or privacy menu. Click on 'Enable 2FA' or 'Set up two-factor authentication' to begin the process.
We offer several 2FA methods to suit different preferences and needs:
Authenticator App (Recommended): This is the most secure and reliable method. Apps like Google Authenticator, Microsoft Authenticator, or Authy generate time-based codes that work even without internet connection. They're free, easy to use, and provide the best balance of security and convenience.
SMS Text Messages: We can send verification codes to your mobile phone via text message. While convenient, this method is less secure than authenticator apps because SMS messages can potentially be intercepted.
Email Codes: As a backup option, we can send verification codes to your registered email address. This should be used as a fallback method rather than your primary 2FA option.
If you chose an authenticator app, you'll see a QR code on your screen. Open your authenticator app and use it to scan this QR code. The app will automatically add your WG account and start generating codes. We'll also provide a backup key - write this down and store it in a secure location. This key allows you to recover your 2FA if you lose your phone.
For SMS or email methods, verify your phone number or email address by entering the verification code we send you. Make sure the contact information is correct and up to date.
To complete the setup, enter the current code from your authenticator app or the code we've sent you. This verifies that 2FA is working correctly. Once verified, 2FA is active on your account. We recommend logging out and logging back in to test the full process and ensure everything is working smoothly.
Once 2FA is enabled, using it becomes second nature. Here's what to expect in your daily trading activities.
When you log in to your account, you'll first enter your username and password as usual. After successful password verification, you'll be prompted for your 2FA code. If using an authenticator app, open the app and enter the current 6-digit code displayed for your WG account. These codes refresh every 30 seconds, so make sure to enter the current one.
For SMS or email methods, wait for the code to arrive (usually within seconds) and enter it when prompted. If the code doesn't arrive, you can request a new one, but wait at least 30 seconds before doing so to avoid confusion with multiple codes.
To balance security with convenience, we offer the option to mark devices as 'trusted.' When you successfully log in with 2FA, you can choose to trust that device for 30 days. During this period, you won't need to enter a 2FA code when logging in from that specific device and browser combination.
However, use this feature judiciously. Only trust your personal devices that others don't have access to. Never trust shared or public computers. You can view and manage your trusted devices in your security settings, and we recommend reviewing this list regularly and removing any devices you no longer use.
While 2FA is generally reliable, you might occasionally encounter issues. Here's how to resolve the most common problems.
If you lose your phone or get a new one, you'll need to reconfigure 2FA. This is where your backup codes become crucial. Use one of your backup codes to log in, then disable and re-enable 2FA with your new device. If you don't have backup codes, contact our support team. We'll verify your identity through alternative means and help you regain access to your account.
To prevent this situation, consider setting up 2FA on multiple devices or using a cloud-synced authenticator app that can be restored on a new device.
If your codes aren't being accepted, the most common cause is time synchronization issues. Authenticator apps rely on accurate time to generate correct codes. Ensure your phone's time is set to automatic/network time. Even a difference of 30 seconds can cause codes to be rejected.
If you're entering codes correctly but they're still not working, try using a backup code to log in, then reconfigure your 2FA. Sometimes, simply removing and re-adding your account to the authenticator app resolves the issue.
To maximize the security benefits of 2FA, follow these best practices.
When you enable 2FA, we provide backup codes that can be used if your primary 2FA method is unavailable. Treat these codes with extreme care - they're as powerful as your password and 2FA combined. Store them in a secure location, such as a password manager or a locked safe. Never store them digitally in an unsecured location like a notes app or email.
Each backup code can only be used once. After using a backup code, generate new ones immediately. We recommend printing them and storing the physical copy securely, separate from your primary 2FA device.
For maximum security, set up multiple 2FA methods. Use an authenticator app as your primary method and SMS as a backup. This ensures you can always access your account even if one method fails. Some traders also use hardware security keys for the highest level of protection.
Regularly review and update your 2FA settings. If you change phone numbers or email addresses, update your 2FA immediately. Remove old devices from your trusted device list and regenerate backup codes periodically.
