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Privacy Policy

Security and Disclosure

FXCM South Africa (PTY) Ltd ("FXCM") respects each individual's right to privacy. This Privacy Policy ("Policy") applies to personal information that we collect through our website as well as any other related sites and applications. This Policy does not apply to websites operated by other organizations and other third parties. The Policy also applies to personal information that we collect when you use or interact with our services through any correspondence made with us by phone, e-mail or otherwise. The Policy aims to inform you about the type of information we gather, who we share it with, what we use it for, how we keep it secure and what your data privacy rights are.

FXCM South Africa (PTY) Ltd is an operating subsidiary within the FXCM group of companies (collectively the "FXCM Group"). If you have any questions or concerns about how we process your personal information, please contact us at dataprotection@fxcm.com.

Personal Information

In accordance with applicable Anti-Money Laundering and Counter-Terrorism Financing regulations and laws, FXCM has an obligation to collect information and verify the identity of its clients. This information is referred to as Know Your Client information or KYC information. Specifically, the information we collect for KYC identification may include identity, contact details, National Identifier, Socio-demographic, transactional, financial, , or other identifying information. By collecting this personal information FXCM carries out its customer identification and verification process. FXCM will also maintain records of all transactions and activities on the Client's account(s) after account opening.

When submitting a Client's application form to open a live or demo account with FXCM, the Client will be providing entities within the FXCM group of companies (collectively, the "FXCM Group"), and its affiliated entities with the Client's personal information. By applying for and/or opening a live or demo FXCM account, the Client acknowledges and agrees that their consent for processing of personal information1 is voluntarily provided to the FXCM Group and its affiliated entities. Where information is collected from someone other than the Client (publicly available sources like company registers or third parties), the FXCM will take reasonable steps to ensure the Client is aware that such information has been collected, and of the circumstances of the collection. We use the information we receive from third parties to enhance the services we provide to you, such as providing tailored content that is relevant to services we provide you or topics you are interested in.

When you visit our website, we may collect certain information automatically from your device.

Specifically, the information we collect automatically may include information like your IP address, device type, unique device identification numbers, browser-type, broad geographic location (for example, country or city-level location) and other technical information. We may also collect information about how your device has interacted with our website, including the pages accessed and links clicked.

Collecting this information enables us to better understand the visitors who come to our website, where they come from, and what content on our website is of interest to them. We use this information for our internal analytics purposes and to improve the quality and relevance of our website to our Clients.

Some of this information may be collected using cookies and similar tracking technology. For detailed information on the cookies we use and the purposes for which we use them, see our Cookie Policy.

FXCM processes personal information about a Client only if:

  • the Client consents to the processing or
  • processing is necessary to carry out actions for the conclusion or performance of a contract which the Client is subject to or
  • processing is necessary to fulfil an obligation imposed to FXCM by Law or
  • processing protects the legitimate interest of the Client or
  • processing is necessary for pursuing the legitimate interests of FXCM or of a third party to whom the information is supplied or
  • processing is necessary for the proper performance of a public law duty by a public body

Your Data Protection Rights

To be notified that your personal information is being processed and to gain access to all your personal information that FXCM processes You can gain access to the personal information that FXCM holds for you by emailing dataprotection@fxcm.com. FXCM will process your request usually within 30 days. If the request is complex, more time may be needed in which case FXCM will advise the Client of the extra time required. There is no fee for requesting access to your information. In some circumstances the law may allow FXCM to deny your access to your personal information. Access may also be denied if FXCM has reason to suspect that you are involved in unlawful activity or misconduct of a serious nature, and if giving access would be likely to prejudice any appropriate action. In such a case, if possible following applicable laws and regulations, FXCM will provide to the Client the reason for refusing access, and the complaint mechanisms available

To request, if necessary, the correction, destruction and deletion of your personal information FXCM requires Clients to promptly notify FXCM in writing of any changes to the personal information that FXCM holds about the Client. This will ensure that the Client's personal information held by FXCM is up to date and enable FXCM to keep the Client informed of the continuing circumstances of the Client's account(s), the Client's Margin obligations and the Client's trading activities. The Client may contact FXCM at any time during service hours to correct personal information held by FXCM about the Client which the Client believes is inaccurate.

Should FXCM disagree with the Client as to the accuracy of the information, the Client may request that FXCM attach a statement to that information noting that the Client considers it inaccurate or incomplete. FXCM will provide the client with written notice if it refuses to correct the personal information, which will set out the reason for refusal (unless this would be unreasonable), the mechanisms available to complain about the refusal, and any other relevant matters.

If FXCM determines that the information contained in FXCM's records is inaccurate, out-of-date, incomplete or irrelevant or misleading, FXCM will take all reasonable steps to correct the personal information to ensure that it is accurate, up-to-date, complete, relevant and not misleading.

FXCM will delete or de-identify personal information as soon as reasonably practical after it is no longer authorized to retain it usually five years after the date the business relationship with the Client is terminated.

  • To object, on reasonable grounds, to processing of your personal information
  • To object at any time to the processing of your personal information in terms of direct marketing
  • Not to be subject to a decision based solely on automated processing of your personal information
  • Right to lodge a complaint to the Information Regulator at inforeg@justice.gov.za or Tel: 012 406 4818

Sharing Information With Our Affiliates

We may share personal information described above with our affiliates for business purposes, such as, but not limited to, servicing customer accounts and informing customers about new products and services, or to aid in the trading activity of the company, its affiliates, or employees, and as permitted by applicable law. Our affiliates may include companies controlled or owned by us as well as companies that have an ownership interest in our company. The information we share with affiliates may include any of the information described above, such as your name, address, trading and account information. Our affiliates maintain the privacy of your information to the same extent FXCM does in accordance with this Policy.

Sharing Information With Third Parties

FXCM does not disclose your personal information to third parties, except as described in this Policy. Third party disclosures may include sharing such information with non-affiliated companies that perform support services for your account or facilitate your transactions with FXCM, including those that provide professional, legal, or accounting advice to FXCM. Non-affiliated companies that assist FXCM in providing services to you are required to maintain the confidentiality of such information to the extent they receive it and to use your personal information only in the course of providing such services and only for the purposes that FXCM dictates. FXCM may aggregate data on an anonymous basis about its clients' trades and disclose such data to third parties.

We may also disclose your personal information to third parties to fulfill your instructions or pursuant to your expressed consent.

FXCM will not sell your personal information.

Under limited circumstances, FXCM may disclose your personal information to third parties as permitted by, or to comply with, applicable laws. For example, we may disclose personal information to cooperate with law enforcement agencies to comply with subpoenas or other official requests, and as necessary to protect our rights or property. Except as described in this privacy policy, we will not use your personal information for any other purpose, unless we describe how such information will be used at the time you disclose it to us or we obtain your permission.

Direct Marketing

FXCM will obtain your consent before processing personal information for the purposes of direct marketing.

FXCM intends to use your personal information for direct marketing of investment products and services and FXCM requires your consent for that purpose. By applying for and/or opening a live or demo FXCM account, you acknowledge and agree that your consent is voluntarily provided to FXCM. If you do not wish to use your data for use in direct marketing as described in this policy, you may exercise your right to opt-out by

  1. unchecking the consent boxes in the demo account application.
  2. notifying FXCM in writing
  3. sending a "Stop" message for SMS or
  4. by selecting/clicking the unsubscribe or opt-out link in the marketing emails we send you.

International Transfer

Subject to certain conditions, we may transfer your personal information to a third party in countries outside the country you are residing for further processing in accordance with the purposes set out in this Privacy Policy. In these circumstances we will, as required by applicable law, ensure that your privacy rights are adequately protected by appropriate technical, organisational, contractual or other lawful means. We have implemented similar appropriate safeguards with our third party service providers and partners and further details can be provided upon request.

Security Technology

We use appropriate technical and organisational measures to protect the personal information that we collect and process about you. The measures we use are designed to provide a level of security appropriate to the risk of processing your personal information.

In particular, we:

  • hold personal information in secure facilities and where the information is held electronically, on secure servers.
  • use encrypted transmission links whenever we can.
  • use other safeguards such as firewalls, authentication systems (e.g., passwords), and access control mechanisms to control unauthorised access to systems and data.
  • regularly review our information collection, storage and processing practices, including physical security measures, to guard against unauthorised access to systems.
  • restrict access to personal information to our employees, contractors and agents who need to know that information in order to process it for us and who are subject to strict contractual confidentiality obligations. FXCM may discipline or terminate individuals who maliciously acquire information, without being entitled to its access.

Once client information is no longer needed, FXCM will take reasonable steps to destroy or de-identify the information as long as FXCM is not required by applicable laws and regulations.

We will take seriously and deal promptly with any accidental or unauthorised disclosure of personal information. We follow the relevant scheme for notifiable data breaches where applicable and when handling accidental or unauthorised disclosures of personal information.

Opt Out

The Client has the right not to provide to FXCM any personal information requested in the application forms. However, without that information FXCM may not be able to open an account for the Client and/or provide services to the Client.

How to contact us

Questions, comments, complaints, and requests regarding your data or this privacy policy are welcomed and please contact us.

Disclosure
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Personal information is any information about the Client, that identifies the Client or by which the Client's identity can reasonably be ascertained.

Risk Warning: Our service includes products that are traded on margin and carry a risk of losses in excess of your deposited funds. The products may not be suitable for all investors. Please ensure that you fully understand the risks involved.