MetaTrader 5 Help

One Time Passwords - OTP

OTP — Authentication Using One Time Password

Use of OTP (One Time Password) provides an additional level of security when working with trading accounts. The user is required to enter a unique one-time password every time to connect to an account.

  • The use of OTP should be enabled on a trade server.
  • The forced use of OTP can also be enabled on a trade server.

One Time Passwords are generated on the iPhone mobile platform and mobile platform for Android.

To use One Time Passwords, you should bind your trading account with the password generator, which is the Mobile Platform 5 for iPhone and Android.

How to Enable OTP on iPhone

Go to the Settings of the mobile platform and select OTP. For security reasons, when you first open this section, you will be required to set a four-digit password. The password must be entered every time you access the password generator.

Set a password to access the OTP generator

In the window that opens, select "Bind to account".

To bind an account to the OTP generator, enter its details

Next, specify the name of the server on which the trading account was opened, the account number and the master password to it. Keep the "Bind" option enabled. Disable it, if you are going to unbind the specified account from the generator and stop using One Time Passwords.

Tapping on the "Bind" button located at the top of the window binds the trading account to the generator. An appropriate message appears after that.

The generated One Time Password is valid for a short period of time

Likewise, you can bind an unlimited number of accounts to the generator.

The One Time Password is displayed at the top of the OTP section. A blue bar below visualizes the password lifetime. Once the password expires, it is no longer valid, and a new password will be generated.

Additional Commands:

  • Change Password — change the generator password.
  • Synchronize Time — synchronize the time of the mobile device with the reference server. Accuracy requirement is connected with the fact that the OTP is valid for the current time interval, and this time should be the same on the platform and the server side.

How to Enable OTP on Android Based Devices

Go to the Accounts of your mobile terminal and tap Open the generator of one-time passwords. For security reasons, when you first open this section, you will be required to set a four-digit password. The password must be entered every time you access the password generator.

Set a password to access the OTP generator

In the window that opens, select "Bind to account".

Bind the account to the OTP generator

Next, specify the name of the server on which the trading account was opened, the account number and the master password to it. The "Bind" should be kept enabled. It must be disabled, if you are going to unbind the specified account from the generator and stop using one-time passwords.

After you tap the "Bind" button located in the upper part of the window, your trading account will be bound to the generator, and an appropriate message will appear.

OTP Usage

Likewise, you can bind an unlimited number of accounts to the generator.

The one-time password is displayed at the top of the OTP section. Underneath, a blue bar visualizes the password lifetime. Once the password expires, it is no longer valid, and a new password will be generated.

Additional Commands:

  • Change Password — change the generator password.
  • Synchronize Time — synchronize the time of the mobile device with the reference server. Accuracy requirement is connected with the fact that the one-time password is bound with the current time interval, and this time should be the same on the trading platform and the server side.

How to Use OTP on the Platform

A One Time Password is additionally requested during connection to a bound account from the trading platform:

OTP is required in addition to a usual password