Privacy Policy
FXOpen AU Pty Ltd ("FXOpen", "we", "us" or "our") is a company registered in the
Commonwealth
of
Australia under registration number 61 143 678 719, having its address at Level 25, 108 St Georges Terrace,
Perth WA 6000, Australia. We are authorised and regulated by the Australian Securities and Investments
Commission (AFSL #412871).
We provide our customers with foreign exchange contracts (FX) and contracts for differences
(CFD)
trading.
This policy sets out the basis on which any personal information we collect from you, or
that you
provide to us,
will be processed by us. Please read the following carefully to understand our views and practices regarding
your personal information and how we will treat it. By using our website, you agree to be bound by this
privacy
policy.
Privacy
We know that you are concerned with how we deal with your personal information. This privacy statement sets out our current policies and demonstrates our commitment to your privacy. Your further rights and our obligations in respect to collecting and dealing with your personal information are disclosed in the Privacy Act 1988 (Cth).
Purpose of the Information processing
We are required to maintain certain personal information about individuals for the purposes
of
satisfying our
operational and legal obligations (to open an account, transact business effectively and to safeguard your
assets and your privacy). We recognize the importance of correct and lawful treatment of personal
information as
it helps to maintain confidence in our organization and to ensure efficient and successful outcomes when
using
this information.
We collect your personal information to provide you with our services as specified in our
Client
Agreement,
Product Disclosure Statement and other documents regulating our business relationship with you published at
policies and disclosures. We
only use personal information as appropriate to provide you with a high quality of service and security. For
example, we may use the information collected from you to verify your identity and contact information and
to
establish the business relationship with you. We may also use this information to establish and set up your
trading account, issue an account number and a secure password, maintain your account activity, and contact
you
with account information. We also use your personal information to process and execute your trading orders.
We
also may use your personal information in order to receive or send payments to you / from you. In this case,
we
may share your personal information with external payment provider, which you use to process the payment to
us /
from us, for example: your bank, corresponding banking institution, payment services provider. All this
information helps us improve our services and inform you about new products, services or promotions that may
be
of interest to you.
Principles of the Information processing
All personal information is:
- Fairly and lawfully processed;
- Processed for a lawful specified purpose;
- Adequate, relevant and not excessive;
- Not kept for longer than necessary;
- Processed in accordance with the individual’s (data subject’s) rights;
- Secure;
- Not transferred to other countries without adequate protection.
Personal Information We Collect
We may collect and process the following data about you:
- Information that you provide by filling in forms on our website, in emails, by calls, in our live chat, support center;
- Up-to-date information about yourself, if you register your personal details to use our service;
- Information you provide to us in the applications we ask you to fill in;
- Details of your visits to our website, details of your emails, calls and requests sent through the live chat, support center from, including, but not limited to: traffic information, location information, weblogs and other communication information, the resources that you access, devices and services you use to contact us.
The personal information that we collect from our customers, process and control to provide our services, include:
- name, date of birth, address;
- contact details, such as: email address, phone number, postal address, messengers and/or social networks ID;
- financial information: source of funds you deposit or intend to deposit to us, source of wealth, your balances with us;
- occupation and name of employer;
- payment information: deposits and withdrawals amount, date of payment, banks and other payment institutions involved in the payment process;
- trading information: orders and their execution results;
- technical information such as your IP addresses used to access our website and services, your activity logs in our systems.
Considering our obligations under respective AML/CFT regulations we also collect, process
and keep
the documents,
which the customer provides to us to verify the personal information specified above. This include:
passport,
driving license and other ID copies, utility bills or other documents confirming the address of the
customer,
bank or other financial institutions statements, documents confirming source of funds and/or source of
wealth
etc. Please refer to AML.
We also collect the information about current, past and prospective clients and customers, website visitors,
etc. with whom we have dealings. This information may include information required to communicate with you,
including your name, mailing address, telephone number, email address and your location information.
We may also ask you for information when you report a problem with our website. If you
contact us,
we may keep a
record of that correspondence. We may also ask you to complete surveys that we use for research purposes,
although you do not have to respond to them.
You have choices about the information we collect. When you are asked to provide personal
information, you may
decline. Subject to the provisions of this policy specified below, you are also entitled to have FXOpen
erase
your personal information, cease further dissemination of the information and potentially have third parties
halt processing of the information. The withdrawal of consent does not affect the lawfulness of processing
based
on consent before its withdrawal. However, if you choose not to provide information that is necessary to
provide
a service or feature or to withdraw the information that is still relevant to original purposes of
processing,
you may not be able to use that service or feature.
The information we collect depends on the context of your interactions with FXOpen, the
choices you
make,
including your privacy settings, and the service and features you use. FXOpen shall comply with the
regulations
applicable to the financial services providers, including AML/CFT regulations. As a result, we need to
collect,
process and keep your personal information to meet the applicable legislation requirements. Your refusal to
provide us with the personal information in some cases may lead to freezing of your accounts with us and the
funds held on such accounts. Under certain circumstances, we shall also report your activity and respective
personal information to authorities.
Personal information may consist of information kept on paper, computer or other electronic media all of
which
is protected under the applicable law.
Your rights
As a data subject which provides its personal information to us you are entitled to:
- obtain from us an information whether your personal information is being processed by us. You may also access your personal information and request us to provide you with a copy of your personal information;
- obtain from us without undue delay the rectification of inaccurate personal information. You also have the right to have incomplete personal information completed;
- subject to the information protection regulations applicable to you, you may request from FXOpen the
erasure
of your personal information without undue delay. The request shall be made on the legal grounds
provided in
the information protection regulations applicable to you, which include among other:
- the personal information are no longer necessary in relation to the purposes for which they were collected or otherwise processed;
- you withdraw your consent on which the processing is based according to the provisions of the applicable to you information protection regulations and where there is no other legal ground for the processing;
- you object to the processing pursuant to the applicable information protection regulations and there are no overriding legitimate grounds for the processing, or the information subject objects to the processing;
- the personal information have been unlawfully processed;
- the personal information have to be erased for compliance with a legal obligation in European Union or the law to which FXOpen is subject.
You should also pay an attention that being a financial services provider we shall keep a part of your personal information to comply with FATF recommendations, Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) and other applicable legislation. Your request to erase your personal information would not affect such part of the personal information.
- subject to the information protection regulations applicable to you, you may request from FXOpen to
restrict
processing of your personal information in the following cases:
- the accuracy of the personal information is contested by you, for a period enabling us to verify the accuracy of your personal information;
- the processing of your personal information is unlawful and you oppose the erasure of your personal information and request the restriction of their use instead;
- FXOpen no longer needs the personal information for the purposes of the processing, but they are required by you for the establishment, exercise or defense of legal claims;
- You object to processing pursuant to the applicable information protection regulations pending the verification whether the legitimate grounds of us override yours.
- you shall be notified by us once any rectification or erasure of personal information or restriction of processing to each recipient to whom the personal information have been disclosed takes place;
- receive your personal information, provided to FXOpen, in a structured, commonly used and machine-readable format and you have the right to transmit those information to any third party. You may also ask us to transmit your personal information directly from FXOpen to other person in case such other person support the information formats and secure connections used by FXOpen to transmit such information;
- object, on grounds relating to your particular situation, at any time processing of your personal information. If you do so, FXOpen wouldn’t process your personal information unless we demonstrate compelling legitimate grounds for the processing which override your interests, rights and freedoms or for the establishment, exercise or defence of legal claims. Such grounds include among other the responsibilities of FXOpen arising out of AML/CFT regulations;
- You have the right not to be subject to a decision based solely on automated processing, including profiling, which produces legal effects concerning you or similarly significantly affects you. However, we could do so if this is necessary for entering into, or performance of, a contract between us. We use an automated information system, which collects and process your personal information and make a pre-decision in respect to the entering into agreement with you or requests an additional information from you in order to execute our obligations under the agreement with you.
Reasons we share your personal information
We share your personal information with your consent or as necessary to complete any
transaction or
provide any
service you have requested or authorized (debiting and crediting your accounts, executing your trading
orders,
providing support to you etc.).
In order to provide you with our services we share your personal information with our
partners,
vendors and
service providers, including IT and software providers and vendors. We may also share your personal
information
with third persons and authorities if required by law, in respond to legal process, to protect our clients,
to
maintain the security of our services and to protect the rights or property of FXOpen.
We do not sell, license, lease or otherwise disclose your personal information to any third
party
for any reason,
except as described below.
We reserve the right to disclose your personal information to third parties when required to
do so
by law to
regulatory, law enforcement or other government authorities. We may also disclose your information as
necessary
to credit reporting or collection agencies. We may also disclose your information to non-affiliated third
parties if it is necessary to protect FXOpen rights or property.
We share your personal information with the banks and payment institutions, which process your payments
to/from
us. Commonly, we share your name, address, contact details (email) and the amount of payment to/from you.
Such
disclosure is made solely to provide you with an ability to deposit withdraw funds to/from us.
We may share your personal information with third parties acting as our liquidity providers.
Once we
hedge your
positions with external liquidity providers they may access the information regarding your trading orders,
including types of derivatives traded, their amount.
Your personal information may be shared with our software vendors and IT services providers
including trading
platform providers (hereinafter – “IT vendors”). While providing FXOpen with software, its modifications,
implementation and support IT vendors may have an access to our information systems from their systems and
locations. As a result, some of your personal information depending on the system where they are kept may be
disclosed to our IT vendors. We limit an access of such IT vendors to our information systems to the best of
our
abilities. However, the situation may arise that in the process of software maintenance (modification of
software functionality, migrating information to the new software versions, fixing bugs etc.) the vendor
and/or
IT provider get an access to the databases where your personal information is stored.
Some of IT vendors act as our technology providers based on the software-as-a-service (SAAS)
business model. In
this case, FXOpen use their information systems installed on their hardware environment. Respectively, our
databases may be kept on the servers of such vendors. In this case, we limit an access using integrated
management rules, which restrict vendor’s access to the information kept by its clients (FXOpen).
To help us improve our services to you, we may engage another business to help us to carry
out
certain internal
functions such as account processing, client service and support, client satisfaction surveys or other
information collection activities relevant to our business. We may also provide a party with customer
information from our database to help us to analyze and identify customer’s needs and notify customers of
product and service offerings. Use of the shared information is strictly limited to the performance of the
task
we request and for no other purpose.
According to the applicable law, we are required to upload your trading information (trading
orders
and/or
positions) along with some of your personal information (name and/or UID) to the trading information
depositories. We enter into agreements with the well-known international depositories, which provide a
highest
level of information security.
We may share information with affiliates and partners, including companies operating under
FXOpen ®
brand name,
if the information is required to provide the product or service you have requested, or to provide you with
the
opportunity to participate in the products or services our affiliates and partners offer. We may also forge
partnerships and alliances, which may include joint marketing agreements, with other companies who offer
high-quality products and services that might be of value to our customers. In order to ensure that these
products and services meet your needs and are delivered in a manner that is useful and relevant, we may
share
some information with partners, affiliates and alliances. This allows them to better understand the offers
that
are most relevant and useful to yourself. The use of your personal information is limited to the purposes
identified in our relationship with the partner or affiliate.
All third parties receiving your personal information from us under the respective
agreements are
required to
protect your personal information in a manner similar to the way we do this. We use a variety of legal
mechanisms, including contracts, to help insure your rights and protections.
Restriction of responsibility
If at any time you choose to purchase a product or service offered by another company, any personal information you share with that company will no longer be controlled under our Privacy Policy. We are not responsible for the privacy policies or the content of sites we link to and have no control of the use or protection of information provided by you or collected by those sites. Whenever you elect to link to a co-branded Web site or to a linked Web site, you may be asked to provide registration or other information. Please note that the information you are providing is going to a third party, and you should familiarize yourself with the privacy policy provided by that third party.
Access to Personal Information
All individuals who are the subject of personal information held by us are entitled to:
- ask what information we hold about them and why;
- ask how to gain access to it;
- be informed how to keep it up to date;
- have inaccurate personal information corrected or removed;
- to receive the personal information concerning them, which they have previously provided;
- prevent us from processing information or request that it is stopped if the processing of such information is likely to cause substantial, unwarranted damage or distress to the individual or anyone else, etc.;
- require us to ensure that no decision which significantly affects an individual is solely based on an automated process for the purposes of evaluating matters relating to him/her, such as conduct or performance;
- be informed what we are doing to comply with our obligations under the personal information protection laws.
If you cannot access certain information and personal information collected by FXOpen, you
can
always contact
FXOpen by contact details as specified in this Privacy Policy. We will respond to requests to access or
delete
your personal information within 30 days.
Should you consider that your rights under this Privacy policy and/or applicable legislation
are
infringed by us
and we didn’t take all necessary actions to remedy such violation or rejected your claim you have the right
to
lodge a complaint with a supervisory authority and before the competent court.
Security of Personal Information
We maintain strict security standards and procedures with a view to preventing unauthorized
access
to your
information by anyone, including our staff.
We use different organizational and technological measures to protect your personal
information such
as
pseudonymisation and encryption. As a part of the pseudonymisation process when you establish a business
relationship with us we assign to your accounts (both ewallet and trading account) the unique identifiers
(UID)
which make your personal information no longer be attributed to you without the use of additional
information
from our information system. Your UID instead of your name is used in most of the information systems we
utilize
to provide you with our services. Only a limited number of our staff and third parties have an access to the
information system where your personal information in conjunction with UID is stored.
We use leading encryption technologies to secure your information on a hardware and software
levels.
The hardware
protection includes Cisco security products. The software protection tools include strict control mechanisms
as
follows: SSL, TLS with keys larger than 2048-bit.
All FXOpen members, all our staff and third parties whenever we hire them to provide support
services, are
required to observe our privacy standards and to allow us to audit them for compliance.
Where Personal Information is stored and processed
Personal information collected by FXOpen may be stored and processed in your region or in
any other
country where
FXOpen or its affiliates, subsidiaries or service providers maintain facilities. Typically, the primary
storage
location is in the European Union, with a backup to the information centers in another regions. The storage
location(s) are chosen in order to operate efficiently, to improve performance, and to create redundancies
in
order to protect the information in the event of an outage or other problem. We take steps to ensure that
the
information we collect under this privacy statement is processed according to the provisions of this
statement
and the requirements of applicable law wherever the information is located.
We transfer personal information to other countries. When we do so, we use a variety of
legal
mechanisms,
including contracts, to help ensure your rights and protections travel with your information.
Retention of Personal Information
As a general rule, FXOpen retains your personal information for the whole period of the business relationship with you and 5 years from the moment termination of such relationship. However, the period of your personal information retention can vary for different information types in the context of different products, actual retention periods can vary significantly. The criteria used to determine the retention periods include, for instance:
- The period of information processing needed to provide the services. This includes such things as maintaining and improving the performance of those services, keeping our systems secure, and maintaining appropriate business and financial records. This is the general rule that establishes the baseline for most information retention periods.
- The information subject's consent for a longer retention period. If so, we will retain information in accordance with the consent.
- FXOpen is subject to a legal, contractual, or similar obligation to retain the information. Mandatory information retention laws including AML/CFT regulations can be applied in the applicable jurisdiction, government orders to preserve information relevant to an investigation, or information that must be retained for the purposes of litigation.
Use of Cookies
We use cookies to assist us in securing your trading activities and to enhance the
performance of
our Website.
(Cookies are small text files sent from the Web server to your computer.) Cookies used by us do not contain
any
personal information, nor do they contain account or password information. They merely allow the site to
recognize that a page request comes from someone who has already logged on.
We may share Website usage information about visitors to the Website with reputable
advertising
companies for
targeting our Internet banner advertisements on this site and other sites. For this purpose, pixel tags
(also
called clear gifs or web beacons) may be used to note the pages you've visited. The information collected by
the
advertising company through the use of these pixel tags is not personally identifiable.
To administer and improve our Website, we may use a third party to track and analyze usage
and
statistical volume
information including page requests, form requests, and click paths. The third party may use cookies to
track
behavior and may set cookies on behalf of us. These cookies do not contain any personally identifiable
information.
Changes to this Privacy Policy
From time to time, we may update this Privacy Policy. In the event we materially change this Privacy Policy, the revised Privacy Policy will promptly be posted to the websites and we will post a notice on our websites informing you of such changes. You agree to accept posting of a revised Privacy Policy electronically on the website as actual notice to you. Any dispute over our Privacy Policy is subject to this notice and our agreement with you. We encourage you to periodically check back and review this policy so that you will always know what information we collect, how we use it, and to whom we disclose it. If you have any questions that this statement does not address, please contact us.
Contact
If you have a privacy concern, complaint or a question regarding your personal information
collecting, processing
and keeping, please contact the Information Protection Officer by email [email protected], by phone +(61)
2
6145 2042 / +(61) 8 6557 8587 or send a
correspondence to our office: Level 25, 108 St Georges Terrace, Perth WA 6000, Australia. We will respond to
questions or concerns within 30 days.
Unless otherwise stated, FXOpen is a information controller for personal information we
collect
through the
services subject to this statement.