ThinkMarkets, a London and Melbourne-headquartered multi-asset online broker, has introduced a new security feature to help its users prevent or detect fraudulent calls now “common among online traders.” The retail broker announced on Wednesday that it has added a one-time password (OTP) verification feature to its contact process as “an extra verification step.”

With the new feature, the broker explained, its customers can now request for an OTP from a caller claiming to be from ThinkMarkets and input the OTP into their ThinkPortal account to confirm the speaker’s identity.

“With fraudulent calls becoming common among online traders, the security of your information is paramount to us. If you receive a call from a representative of ThinkMarkets, you now have the option of requesting an OTP from the caller. Upon this request, an OTP will be sent via SMS, which you can then input into ThinkPortal to validate the caller,” ThinkMarkets explained in an announcement posted on its website.

ThinkMarkets Expands Platform, Product Offerings

The new security feature is one of several features ThinkMarkets has added to its platform in recent months to boost its retail FX and CFDs offerings. In June last year, the broker announced plans to launch the web version of ThinkTrader, its proprietary trading platform. ThinkMarkets said it loaded the version, which is an addition to the mobile app its traders have been using for many years, with technical and market analysis tools, including more than 125 technical indicators, 50 drawing tools and 20 chart types.

In 2021, the broker launched Liquidity.net to serve institutional investors. The platform is registered and regulated by the UK’s Financial Conduct Authority (FCA). Furthermore, ThinkMarkets has made efforts to expand its product listings, adding over 2,500 US-listed stocks and exchange-traded funds (ETFs) to ThinkTrader in May 2022 and five new crypto CFDs a month earlier.

Beyond its focus on its product listing and platform, the broker is expanding its global presence. In February last year, the company secured $30 million to fund its expansion across multiple verticals in several jurisdictions globally. A month later (March), the brokerage firm introduced its platform to Japanese users a year after acquiring Japan Affiliate, a Japanese forex company.