Privacy policy

1. Privacy and security policy

(‘We’) World Forex, are committed to protecting and respecting your privacy. This policy sets out the basis on which we need to collect, store and process your personal data, that you provide to us. We are required to obtain your consent to allow us to process your data.

By accessing our websites, including using any of the communication channels to contact us, we consider that you have read and understood the terms of this notice and how we process any information you disclose to us including personal data prior to becoming a client. Once you open an account with us you agree that this notice, including any amendments, will govern how we collect, store, use, share and in any other form process your personal data and your rights during our business relationship and after its termination.

Please read the following policy carefully to understand our views and practices regarding your personal data and how we will treat it.

2. Commitment

Herewith we confirm that The Company is fully committed to The Personal Data Protection Act 2019 ('PDPA') as well international data protection laws and acts solely and exclusively in compliance with the data protection principles. We as well declare that all company’s activities are aimed at creating and maintaining a robust and trustworthy business relationship and reputation with our clients, and commitment to their interests.

Here we are providing you with full information about data types, data collection and processing, as well as the purposes these data are used for and how you can correct or amend the information you entrust us.

3. Why do we collect personal information?

We collect certain personal information in order to meet the needs of our clients. By doing this we are able to monitor and improve the services we provide to our existing clients and offer services to our potential clients. We shall use this information for the following purposes:

• to confirm your identity
• to manage your account
• to provide our services to you
• to notify you of news, updates or announcements related to our business which we believe may be of interest to you
• to answer any questions, you may raise or respond to any comments you may send to us
• to carry out market analysis and research
• to contact you in case of the issues that have to be solved
• to improve our services
• to ensure that we comply with our statutory and regulatory obligations

4. What kind of personal information do we collect and store?

As part of our business, we collect personal data from customers and potential customers that include the following:

• Name, Surname and contact details
• date of birth and gender
• information about your income and wealth including details about your assets and liabilities, account balances, trading statements, tax and financial statements
• profession and employment details
• location data
• knowledge and experience in trading, risk tolerance and risk profile
• IP address, device specifications and other information relating to your trading experience
• bank account, e-wallets and credit card details
• details of your visits to our Website or our Apps including, but not limited to, traffic data, location data, weblogs and other communication data

We are required by law to identify you if you are opening a new account or adding a new signatory to an existing account. Anti-money laundering laws require us to sight and record details of certain documents (i.e. photographic and non-photographic documents) to meet the standards, set under those laws. Identification documentation, as required under anti-money laundering legislation or other legislation relevant to the services we provide to you includes:

• (a) passport
• (b) driver’s licence
• (c) national identity card (if applicable)
• (d) utility bills
• (e) trust deed (if applicable)
• (f) a credit check on the individual, or
• (g) other information we consider necessary to our functions and activities

We may ask for other personal information voluntarily from time to time (for example, through market research, surveys or special offers). If you choose not to provide the information we need to fulfil your request for a specific product or service, we may not be able to provide you with the requested product or service.

We may record any communications, electronic, by telephone, in person or otherwise, that we have with you in relation to the services we provide to you and our relationship with you.

5. Who may we disclose personal information to?

Existrade may be from time to time required to provide your personal information to the regulator and government bodies, we may also disclose your information to:

• other companies that deal within the course of our business and who provide financial and other services
• third party apps providers when you use our apps, communication systems and trading platforms which are provided to us by third parties
• service providers and specialist advisers who have been contracted to provide us with services such as administrative, IT, analytics and online marketing optimization, financial, regulatory, compliance, insurance, research or other services
• introducing brokers and affiliates with whom we have a mutual relationship
• service providers and specialist advisers who have been contracted to provide us with services such as administrative, IT, analytics and online marketing optimization, financial, regulatory, compliance, insurance, research or other services
• auditors or contractors or other advisers auditing, assisting with or advising on any of our business purposes
• courts, tribunals and applicable regulatory authorities as agreed or authorised by law or our agreement with you
• government bodies and law enforcement agencies where required by law and in response to other legal and regulatory requests
• any third-party where such disclosure is required in order to enforce or apply our Terms and Conditions of Service or other relevant agreements
• anyone authorised by you

6. Personal information storage

We hold personal information in a combination of secure computer storage facilities and paper-based files and other records and take steps to protect the personal information we hold from misuse, loss, unauthorised access, modification or disclosure.

When we consider that personal information is no longer needed, we will remove any details that will identify you or we will securely destroy the records.

However, we may need to maintain records for a significant period of time. For example, we are subject to investment services and anti-money laundering laws which require us to retain copies and evidence of the actions taken by us in regard to your identity verification, sources of incomes and wealth, monitoring of your transactions, telephone, chat and email communications, orders and trades history, handling of your complaints and records that can demonstrate that we have acted in line with regulatory code of conduct throughout the business relationship.

7. Updating your information

You may inform us at any time that your personal information details have changed or that you wish to delete personal information we hold about you by contacting the Company Data Protection Officer via e-mail [email protected] and we will change or delete your information in compliance with your instructions, except the cases when we are required to hold your personal information for regulatory or legal purposes.

8. Your consent

We may process your personal data for one or more lawful bases of processing:

• to perform our contractual obligations towards you
• to be compliant with the legal and regulatory requirements
• to pursue our legitimate interests

Where our use of your personal information does not fall under one of these three Lawful basis, we require your consent.

9. Your rights

Please note that these rights do not apply in all circumstances. You are entitled to:

• (a) request access to your personal data (commonly known as a “data subject access request”);
• (b) request correction of the personal data that we hold about you;
• (c) request erasure of your personal data. Note, however, that we may not always be able to comply with your request of erasure for specific legal reasons which will be notified to you, if applicable, at the time of your request;
• (d) object to processing of your personal data where we are relying on a legitimate interest (or those of a third party) and there is something about your particular situation which makes you want to object to processing on this ground as you feel it impacts on your fundamental rights and freedoms. You also have the right to object where we are processing your personal data for direct marketing purposes. In some cases, we may demonstrate that we have compelling legitimate grounds to process your information which override your rights and freedoms;
• (e) request restriction of processing of your personal data. This enables you to ask us to suspend the processing of your personal data in the following scenarios:
• if you want us to establish the data’s accuracy;
• where our use of the data is unlawful, but you do not want us to erase it;
• where you need us to hold the data even if we no longer require it as you need it to establish, exercise or defend legal claims; or
• you have objected to our use of your data but we need to verify whether we have overriding legitimate grounds to use it;
• (f) request the transfer of your personal data to you or to a third party. We will provide to you, or a third party you have chosen, your personal data in a structured, commonly used, machine-readable format. Note that this right only applies to automated information (i.e. not to hard copies) which you initially provided consent for us to use or where we used the information to perform a contract with you; and
• (g) withdraw consent at any time where we are relying on consent to process your personal data.

10. Cookies

We may collect information about your computer, including where available your IP address, operating system and browser type, for system administration and to report aggregate information to our advertisers. This is statistical data about our users' browsing actions and patterns, and does not identify any individual. For the same reason, we may obtain information about your general internet usage by using a cookie file which is stored on the hard drive of your computer. You can set your browser not to accept cookies. However, in a few cases some of the features on our Site may not function as a result. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies when you log on to the Site.

11. Security

We are committed to safeguarding and protecting personal data and will implement and maintain appropriate technical and organisational measures to ensure a level of security appropriate to protect any personal data provided to us from accidental or unlawful destruction, loss, alteration, unauthorised disclosure of, or access to personal data transmitted, stored or otherwise processed.

12. Amendments to policy

We keep our privacy policy under regular review and will post any changes to it on this page. We encourage you to regularly review our privacy policy to make sure you are always aware of what information we collect, how we use it and under what circumstances, if any, we may share it with other parties.

13. Language

The official text of this Privacy and security policy or any notice given or accounts or statements required by this Privacy and security policy shall be in English. In the event of any dispute concerning the construction or meaning of this Privacy and security policy, reference shall be made only to this Privacy and security policy as written in English and not to any other translation into any other language.

14. Data Protection Officer

Data subjects can contact the Company Data Protection Officer via e-mail [email protected] in case of arising data protection issues and execution of your rights.