iFOREX UK is a trading name of VIBHS Financial Limited, authorised and regulated in the UK by the Financial Conduct Authority under Firm Reference Number 613381. Incorporated as a Limited Company in England and Wales under Companies House number 08279988.
VIBHS Financial Ltd ("the Company", "the Firm", "we", "us" or "our") is a company registered in England and Wales under registration number 08279988, and the address of our registered office is at 34 Westway, Caterham On The Hill, Surrey, England, CR3 5TP. We are authorised and regulated by the Financial Conduct Authority ("FCA") under the Financial Services and Markets Act 2000 (the "Act") with FCA Firm Reference Number ("FRN") 613381.
We provide our customers with foreign exchange contracts ("Forex") and Contracts for Difference ("CFDs") trading.
Purpose of the Data processing
We are required to maintain certain personal data about individuals for the purposes of satisfying our operational and legal obligations (to open an account, client due diligence, money laundering prevention, transact business effectively and to safeguard your assets and your privacy). We recognise the importance of correct and lawful treatment of personal data as it helps to maintain confidence in our organisation and to ensure efficient and successful outcomes when using this data.
We collect your personal data to provide you with our services as specified in our Customer Terms and Conditions and other documents regulating our business relationship with you and published at www.iforex.co.uk/legal/data-protection-policy.pdf.
We only use personal information as appropriate to provide you with a high quality of service and security. We may use the personal data 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 data to process and execute your trading orders. We also may use your personal data to receive or send payments to you / from you. In this case, we may share your personal data 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. This information helps us improve our services, satisfy financial regulation and inform you about new products, services or promotions that may be of interest to you.
Principles of the Data processing
All data is:
Personal Data We Collect
We may collect and process the following data about you:
The personal data that we collect from our customers, process and control to provide our services, include:
Considering our obligations under respective AML / CFT regulations we also collect, process and control the documents, which the customer provides to us to verify the information provided to us and specified above. This includes: 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.
We also collect the personal data 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 the Site. 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 data we collect. When you are asked to provide personal data, you may decline. Subject to the provisions of this policy specified below, you are also entitled to have the Firm erase your personal data, cease further dissemination of the data and potentially have third parties halt processing of the data.
The withdrawal of consent does not affect the lawfulness of processing based on consent before its withdrawal however, if you choose not to provide data that is necessary to provide a service or feature or to withdraw the data that is still relevant to original purposes of processing, you may not be able to use that service or feature.
The data we collect depends on the context of your interactions with the Company, the choices you make, including your privacy settings, and the service and features you use. We 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 data to meet the applicable legislation.
Your refusal to provide us with the personal data 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 data to authorities.
Personal data may consist of data kept on paper, computer or other electronic media all of which is protected under the GDPR.
As a data subject which provides its personal data to us you are entitled to:
Reasons we share your personal data
We share your personal data with your consent or as necessary to complete any transaction or provide any service you have requested or authorised (debiting and crediting your accounts, executing your trading orders, providing support to you etc.).
To provide you with our services we share your personal data with our partners, vendors and service providers, including IT and software providers and vendors. We may also share your personal data with third parties 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 the Firm.
We do not sell, license, lease or otherwise disclose your personal data to any third party for any reason, except as described below.
We reserve the right to disclose your personal data 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 our rights or property.
We share your personal data 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 data 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 data may be shared with our software vendors and IT services providers including trading platform providers (hereinafter - "IT vendors"). While providing the Company with software, modifications, implementation and support IT vendors may have access to our information systems from their systems and locations.
As a result, some of your personal data 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 data to the new software versions, fixing bugs etc.) the vendor and/or IT provider get an access to the databases where your personal data is stored.
Some of IT vendors act as our technology providers based on the software-as-a-service (SAAS) business model. In this case, we 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 of the IT vendors by the mean of integrated management rules, which prevent a vendor from accessing the data kept by its clients.
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 data collection activities relevant to our business. We may also provide a party with customer information from our database to help us to analyse 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 legislation and regulation we are required to upload your trading data (trading orders and / or positions) along with some of your personal data (name and / or UID) to the trading data depositories. We enter into agreements with the well-known international depositories, which could provide a highest level of data security.
We may share information with affiliates, subsidiaries and partners, 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, subsidiaries 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. 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 data is limited to the purposes identified in our relationship with the partner or affiliate.
All third parties with which we share your personal data are required to protect your personal data in a manner similar to the Company's. We use a variety of legal mechanisms, including contracts, to help insure your rights and protections.
Restriction of responsibility
Security of Personal Data
We maintain strict security standards and procedures with a view to preventing unauthorised access to your data by anyone, including our staff.
We use leading encryption technologies to secure your data on a hardware and software levels. The hardware protection includes Cisco security products. The software protection tools include strict control mechanisms as follows: SSL 3, TLS 1.2 with keys larger than 2048-bit.
The Firm's staff and third parties, when contracted to provide support services, are required to observe our privacy standards and to allow us to audit them for compliance.
Breach of Personal Data
In the case of a personal data breach, the Company shall without undue delay and, where feasible, not later than 72 hours after having become aware of it, notify the personal data breach to the supervisory authority- Information Commissioner's Office, UK (ICO)unless the personal data breach is unlikely to result in a risk to the rights and freedoms of natural persons. Where the notification to ICO is not made within 72 hours, it shall be accompanied by reasons for the delay according to the Article 33 of GDPR.
Where Personal Data is stores and processed
Personal data collected by the Company may be stored and processed in your region or in any other country where the Company or its affiliates, subsidiaries or service providers maintain facilities. Typically, the primary storage location is in the European Union and United Kingdom, with a backup to the datacentres in another region. The storage location(s) are chosen to operate efficiently, to improve performance, and to create redundancies to protect the data in the event of an outage or other problem. We take steps to ensure that the data we collect under this privacy statement is processed according to the provisions of this statement and the requirements of applicable law wherever the data is located.
We transfer personal data from the European Economic Area and United Kingdom to other countries, some of which have not been determined by the European Commission to have an adequate level of data protection. When we do, we use a variety of legal mechanisms, including contracts, to help ensure your rights and protections travel with your data.
Where Personal Data is stores and processed
The Company retains your personal data for the whole period of the business relationship with you and five  years from the moment termination of such relationship however, the period of your personal data retention can vary for different data types in the context of various products, actual retention periods can vary significantly. The criteria used to determine the retention periods include, for example:
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 have visited. The information collected by the advertising company using these pixel tags is not personally identifiable.
If you have a privacy concern, complaint or a question for the Data Protection Officer, please contact us via firstname.lastname@example.org. We will respond to questions or concerns within 30 days.
Unless otherwise stated, the Firm is a data controller for personal data we collect through the services subject to this statement. The Company is a private limited company under Companies House number 08279988. The registered address is 34 Westway, Caterham On the Hill, Surrey, England, CR3 5TP. The Firm's Compliance Officer is also the person responsible for data protection as the Data Protection Officer. The address for correspondence is 11-12 Token House Yard, London, EC2R 7AS. Telephone: 02077093041.