Privacy Policy

Who are we (owner and data controller)?

ForexNex Incorporated — 1st Floor, Ground Floor, Coastal Building; Wickhams Cay II; PO Box 3169, Road Town; Tortola; British Virgin Islands

Contact email: support@forexnex.com

We are committed to protecting your privacy and maintaining the security of any personal information that we receive from you.

What is the purpose of this policy?

The purpose of this policy is to explain to you what personal information we collect and how we and our associated companies may use it. Companies are associated with us if they are our subsidiaries or we are both subsidiaries of the same corporate entity.

We are the controller of any personal information that you provide to us, which means that we decide the purposes and means of the processing of that personal information.

How do we obtain and store your personal information?

We obtain your personal information through applications, emails, letters, telephone calls, text messages, cookies, and conversations when you register in our services and work with them (including the personal information gained when you use our learning tools, demo accounts, and trading simulators).

We may monitor or record phone calls with you and monitor (and maintain a record of) all emails and electronic communications we send or receive.

We follow strict security procedures in the storage and disclosure of the personal information that you have given to us to prevent unauthorized access.

What types of personal information do we collect and process?

We may process the following types of personal information:

  • Name

  • Contact details, including email and phone numbers

  • Age or date of birth

  • Gender

  • Occupation

  • Income

  • Trading knowledge and experience

  • Usernames and passwords

  • Information related to your trading account, including account history, activity, and orders

  • IP address

  • National insurance number

  • Transaction reporting reference

  • Power of attorney/agent details

  • Phone device type

  • Operating system

  • Device ID

  • Cookie ID

  • Google 360 ID

  • GUID

  • Information about your use of our services, products, and facilities (including use of our learning tools, demo accounts, and trading simulators)

  • Bank account number

  • Sort code

  • Passport number

  • Marital status

  • Usage data

How do we check your identity?

To comply with money laundering regulations, we need to confirm the name and address of our clients and certain third parties. We may ask you to provide physical forms of identity verification when you open your account. Alternatively, we may use a credit reference agency to verify your identity. Our search is conducted with strict security measures to ensure the confidentiality of your personal information, protecting it from unauthorized access.

How do we use your personal information?

Your personal information may be used for the following purposes:

  • Verifying your identity

  • Processing applications

  • Conducting risk assessments

  • Complying with legal and regulatory obligations

  • Managing your account and relationship with us

  • Providing requested services, products, and information

  • Resolving queries and complaints

  • Investigating disputes

  • Recovering outstanding payments

  • Training staff and improving customer service

  • Enhancing and analyzing product offerings

  • Preventing fraud and other crimes

We also use analytics tools, including:

Contacting you:

We may send you marketing material via various communication channels, including email, SMS, phone calls, and messengers (e.g., Viber, Telegram, Facebook Messenger).

Payment Handling Services:

We use third-party providers to process payments securely:

Helpdesk Platforms:

We work with third-party platforms for customer support:

Remarketing & Behavioral Targeting Services:

We use remarketing tools to improve user experience:

When may we share your personal information?

We may share your personal information with:

  • Relevant regulatory or tax authorities

  • Such third parties as we reasonably consider necessary to prevent crime, for instance, the police

  • Our associated companies

  • Third-party service providers and advisers who provide us with administrative, financial, research, or other services in connection with the services we provide to you

  • Our introducing brokers and other commercial partners

  • Our professional advisers

  • Our auditors for the purposes of carrying out financial and regulatory audits

  • Our agents, including credit reference agencies, acting on our behalf, carrying out such credit and identity checks, including money laundering checks, compliance regulatory reporting, and fraud prevention checks

  • Courts, tribunals, regulatory or tax authorities, and government agencies to enable us to enforce our agreement with you or to comply with the requirements of a court, regulator, tax authority, or government agency

  • Our trade repository

  • Other parties that may be necessary to involve in order to provide the best service to you as our customer

Generally, we require that organizations outside our associated companies with whom we share your personal information acknowledge the confidentiality of your data, undertake to respect your right to privacy, and comply with the data protection principles and this policy.

How may we share your personal information?

The information we may collect is anonymous and helps us improve your user experience with our mobile application.

We may gather information and use a third-party service to understand how you interact with our app, view bugs and crashes, provide customer support, and enhance or improve accessibility within the app.

This anonymous data may include features used in the app, what users are tapping or swiping on, screenshots captured, and virtual device identification. Rest assured, no personal or financial information, sensitive data, or user-generated private content is collected. Additionally, no data related to your device's camera, microphone, or other user inputs will be transmitted.

We use Smartlook.com to gather and analyze this information. Any transmitted data is protected by SSL encryption.

What is the legal basis for our processing of personal information?

The legal basis for processing your personal information depends on the purpose of the processing:

  • Contractual necessity: When you enter into or sign a contract with us for services, we process your information to fulfill the contract. If you do not provide the requested personal information, we may not be able to provide some or all of those services.

  • Compliance with legal obligations: We process your personal information to comply with legal and regulatory obligations, such as anti-money laundering, terrorism prevention, sanctions screening, complaints, investigations, or litigation.

  • Legitimate interests: We may process your information for:

    • Performing agreed services or supplying requested products or information

    • Managing our relationship with you and maintaining contact

    • Internal business purposes, such as disaster recovery, document retention, IT service continuity, and ensuring service quality

    • Corporate transactions

    • Marketing analytics to optimize campaigns and web analytics

    • Keeping records updated and analyzing customer usage of our services

    • Developing products and services and growing our business

    • Targeted marketing strategies and platform updates

    • Portfolio analysis and experience studies to improve services

If needed, we can clarify the specific legal basis for processing your information and whether providing personal information is a statutory, contractual, or necessary requirement to enter into a contract.

What is the place of processing?

Data is processed at our operating offices and in other locations where the involved parties are based.

Depending on your location, data transfers may involve moving your personal information to a country other than your own. To learn more about the location of data processing, you can contact us at support@forexnex.com.

We use Transport Layer Security (TLS) encryption (also known as HTTPS) to transmit all data securely over an encrypted TLS 1.2 connection.

How long will we keep your data?

We retain personal information for as long as you are a customer and for at least three years after you cease to be a customer. Certain personal information must be retained for seven years under applicable anti-money laundering and terrorism financing legislation. This includes:

  • Name, family name, patronymic name (if any)

  • Residential address

  • Age/date of birth

  • Passport details

  • Photos of your identity documents

  • Information regarding deposits to and withdrawals from your account, including currency and amounts

  • Information regarding trading activities

  • Telephone number

  • Email address

  • Communication history with support (chats/emails/calls)

Additionally, the above data will be stored for defending legal claims during limitation periods as per applicable legislation.

This information will be encrypted and securely stored in our IT system and will not be used for any purposes other than those indicated above. It will be erased from our system after the seven-year retention period. Access to this data will remain restricted throughout the storage period.

Cookies are small pieces of information that are stored on your computer by a website you visit in order to enable you to perform certain functions on the website and regulate its content to your preference. They can store data on the pages for which you have provided key information (for example, when you provide a password), but only once you are asked and you accept the storage of this information. Cookies may be used on some pages of the site for us to provide you with a more customised web browsing experience. They are not used to determine the personal identity of anyone merely visiting the site.

Types of cookies we use:

Session cookies These cookies are temporary cookies as they are deleted as soon as you close your browser. Session cookies are used to retain the information you provide us with as you navigate through each section of our website. You can choose to decline session cookies via your browser’s privacy settings but please note that this may have a negative impact on your browsing experience and particularly if these are declined across all websites.

Analytical cookies Analytical cookies may include both temporary and more persistent cookies that we use to track how you use our website and for how long. Analytical cookies do not divulge any identifying information specific to your person but they do help us improve how we provide you with our content. Refer to your browser’s privacy settings on how you can opt out of analytical cookies.

Functional cookies Functional cookies record and save your choices in order to provide a more seamless experience across our website. One way functional cookies do this is by remembering your language selection each time you visit us. Refer to your browser’s urgent privacy settings on how you can opt out of functional cookies.

Third-party cookies These cookies are used by third parties and mostly by social media websites like Google+, Facebook, or YouTube. Third-party cookies allow us to offer you easy ways to share our content throughout your social media and also present you with the videos we post on YouTube. You can disable the use of these cookies through your browser’s privacy settings but please do note that this will also disable all the functions described above.

As already mentioned, we use cookies to ensure the optimal functionality of our website and cater our content to your personal preferences. If you have further questions, please do not hesitate to contact us via support@forexnex.com.

How can you get more help?

If you want help with our Privacy Policy or have questions about it, please contact us via support@forexnex.com.

If you are unhappy about any aspect of the way we collect, share, or use your personal information, we would like you to tell us. You can contact us using the details above.

What are your privacy rights?

This section explains your rights in relation to your personal information in more detail.

To exercise any of the rights described below, please contact us via support@forexnex.com.

Accessing your personal information When can you request access?

You have the right to:

confirm that your personal information is being processed access your personal information. You can request copies of the paper and electronic records about you that we hold, share, or use. To deal with your request, we can request proof of identity and enough personal information to enable us to locate the personal information you request.

When will access not be provided?

We can only provide you with your personal information, not personal information about another person. Also, where access would adversely affect another person’s rights, we are not required to provide this. Due to legal privilege, we may not be able to show you anything that we learned in connection with a claim or legal proceeding.

Please clearly set out in your access request the personal information that you are requesting. If this is not clear, we may come back to you to ask for further personal information by way of clarification.

Correcting your personal information How can you correct your personal information?

You have the right to obtain from us without undue delay the rectification of inaccurate personal information concerning you. If you tell us that the personal information we hold on you is incorrect, we will review it and if we agree with you, we will correct our records. If we do not agree with you, we will let you know. If you wish, you can tell us in writing that you believe our records still to be incorrect and we will include your statement when we give your personal information to anyone outside of our company.

You may also have the right to have incomplete personal information completed, including by means of providing a supplementary statement. Whether or not this is appropriate in any particular case depends on the purposes for which your personal information is being processed.

We need to notify any third parties with whom we have shared your personal information that you have made a rectification request. We will take reasonable steps to do this, but if it is not possible or may involve disproportionate effort we may not be able to do this or ensure they rectify the personal information they hold.

What are the limitations on access to and correcting your personal information?

Generally, we will let you see the personal information that we hold about you, or take steps to correct any inaccurate personal information, if you ask us in writing.

Due to legal privilege, we may not be able to show you anything that we learned in connection with a claim or legal proceeding.

Erasing your personal information When can you request erasure?

You have a right to have your personal information erased, and to prevent processing, where:

the personal information is no longer necessary for the purpose it was originally collected/processed you withdraw consent (where previously provided) you object to the processing and our legitimate interests in being able to keep processing your personal information do not take priority we have been processing your personal information in breach of data protection laws the personal information has to be erased in order to comply with a legal obligation.

If you want us to erase your personal information, write to us at kyc@forexnex.com.

When can we refuse erasure requests?

The right to erasure does not apply where we are required to retain it for legal or regulatory purposes or where your personal information is processed for certain specified reasons, including for the exercise or defence of legal claims.

More importantly, if we have to erase your data, we may not be able to provide you with part or all of our services.

Do we have to tell other recipients of your personal information about your erasure request?

Where we have provided the personal information you want to be erased to third parties, we need to inform them about your erasure request, so they can erase the personal information in question. We will take reasonable steps to do this, but this may not always be possible or may involve a disproportionate effort.

It may also be that the recipient is not required/able to erase your personal information because one of the exemptions above applies.

Restricting processing of your personal information When is restriction available?

You have the right to restrict the processing of your personal information:

where you disagree with the accuracy of the personal information, we need to restrict the processing until we have verified the accuracy of the personal information when processing is unlawful and you oppose erasure and request restriction instead if we no longer need the personal information but you need this to establish, exercise, or defend a legal claim where you have objected to the processing in the circumstances detailed in paragraph (a) of ‘Objecting to Processing’, and we are considering whether those interests should take priority.

Do we have to tell other recipients of your personal information about the restriction?

Where we have disclosed your relevant personal information to third parties, we need to inform them about the restriction on the processing of your personal information, so that they do not continue to process this.

We will take reasonable steps to do this, but this may not always be possible or may involve a disproportionate effort.

We will also let you know if we decide to lift a restriction on processing.

Taking your personal information with you When does the right to data portability apply?

The right to data portability only applies:

to the personal information you have provided to us (which means, not any other information) where the processing is based on your consent or for the performance of a contract when processing is carried out by automated means.

When can we refuse requests for data portability?

We can refuse your data portability request if the processing does not satisfy the above criteria. Also, if the personal information concerns more than one individual, we may not be able to transfer this to you if doing so would prejudice that person’s rights.

Objecting to processing You can object to processing in the following circumstances:

Legitimate interests

You have the right to object, on grounds relating to your particular situation, at any time to processing of personal information concerning you which is based on legitimate interests.

If we can show compelling legitimate grounds for processing your personal information that overrides your interests, rights, and freedoms, or we need your personal information to establish, exercise, or defend legal claims, we can continue to process it. Otherwise, we must stop using the relevant personal information.

Direct marketing

If you receive newsletters or other email messages from us, you can opt out at any time free of charge by contacting us via support@forexnex.com.

Legal information This privacy statement has been prepared based on provisions of multiple legislations, including Regulation (EU) 2016/679 (General Data Protection Regulation).

Key definitions Personal information (or Data)

Any information that directly, indirectly, or in connection with other information—including a personal identification number—allows for the identification or identifiability of a natural person.

Usage Data

Information collected automatically through our application and/or our website (or third-party services employed by us), which can include: the IP addresses or domain names of your computer, the URI addresses (Uniform Resource Identifier), the time of the request, the method utilised to submit the request to the server, the size of the file received in response, the numerical code indicating the status of the server's answer (successful outcome, error, and other), the country of origin, the features of the browser and the operating system utilised by you, the various time details per visit (for example, the time spent on each page within the application and/or our website), and the details about the path followed within the application and/or our website with special reference to the sequence of pages visited, and other parameters about the device operating system and/or your IT environment.

 

We may use cookies or any other tracking technologies when you visit our website, including any other media form, mobile website, or mobile application related or connected to help customize the Site and improve your experience. Learn More

Allow