ThinkMarkets has introduced a new security feature to enhance the safety of its clients. The ASIC-regulated broker now offers an OTP (one-time password) verification process as an additional layer of security.

With this new feature, ThinkMarkets clients can request a time-sensitive verification code that will be sent to their mobile phones. They must then enter this code into the ThinkPortal page to confirm their identity.

The introduction of OTP verification is a proactive step to protect clients from fraudulent attempts, enhancing the security of their accounts and sensitive data. It offers an additional level of authentication to safeguard clients against potential threats.

ThinkMarkets has highlighted that OTP verification can be particularly effective in thwarting account hijacking attempts and securing clients' assets and information. It is a crucial measure in today's digital landscape, where fraud and cybersecurity threats are increasingly prevalent.

"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," added ThinkMarkets.

In other noteworthy news, ThinkMarkets has appointed Alexander Kolchev as its new Chief Technology Officer (CTO). With a background in forex systems and extensive experience in product management, Kolchev is set to play a pivotal role in managing and developing ThinkMarkets' technology.

Before joining ThinkMarkets, Kolchev held senior positions in product management and software, focusing on forex systems, and his experience extends to Fortune 500 companies. His appointment is expected to contribute significantly to the broker's technological advancements and client service enhancements.