MAGHNES CORPORATION IBC (hereinafter the “Company” or “we” or “MAGHNES FOREX” or “us”) is regulated under the International Business Companies (Amendment and Consolidation) Act, Chapter 149 of the Revised Laws of Saint Vincent and the Grenadines, 2009, with the Registration Number 24,334 IBC 2017.

This Privacy Policy explains the way MAGHNES FOREX collects uses and manages personal information from its active clients and potential clients. MAGHNES FOREX is committed to safeguarding your privacy. By opening a trading account with MAGHNES FOREX the client gives consent to such collection, processing, storage and use of personal information by MAGHNES FOREX as explained below.

It is the Company’s policy to respect the confidentiality of information and the privacy of individuals. MAGHNES FOREX is bound by the Data Protection Principles contained in the Processing of Personal Data (Protection of Individuals) Law of 2001, as amendment in 2003, the Regulation of Electronic Communications and Postal Services Law of 2004 and The General Data Protection Regulation (GDPR) (EU) 2016/679 effected as from the 25th of May 2018.

This Privacy Policy aims to give you information on how we collect and processes your personal data, including any data you may provide through our website when you sign up to our website.

It is important that you read this Privacy Policy together with any other privacy notice or fair processing notice we may provide on specific occasions when we are collecting or processing personal data about you so that you are fully aware of how and why we are using your data. This Policy supplements the other policies and is not intended to override them.

At MAGHNES FOREX we understand the importance of maintaining the confidentiality of our Client’s personal information and are committed towards ensuring the security of any information provided by our clients through this website.

MAGHNES FOREX’s Privacy Policy Statement will be reviewed from time to time to take account of new laws and technology, changes to our operations and practices and to make sure it remains appropriate to the changing environment. Any information we hold will be governed by the most current Privacy Policy Statement. The revised Privacy Policy will be uploaded in the MAGHNES FOREX website. In this respect, the clients hereby agree to accept posting of a revised Privacy Policy electronically on the website as the actual notice of MAGHNES FOREX to its clients. If any of the changes made are of material importance then we will notify you by email or by means of a notice on the home page. Any dispute over MAGHNES FOREX Privacy Policy is subject to this notice and the Client Agreement. MAGHNES FOREX encourages its clients to periodically review this Privacy Policy so that they are always aware of what information MAGHNES FOREX collects, how it uses it and to whom it may disclose it, in accordance with the provisions of this Policy.

In order to provide financial products and services to our clients efficiently and accurately, when you apply to register to use one or more of our services we will ask you for personal information. MAGHNES FOREX holds the right and the duty by virtue of the business activity performed, to check the accuracy of the data held in the databases by occasionally asking you for updated data provided or for a confirmation of the accuracy of the aforementioned.

The type of personal information we may collect can include (but is not limited to):
• Customer’s full name.
• Date of birth.
• Place of birth.
• Home and work addresses.
• Home and work telephone numbers.
• Mobile / Telephone Number.
• Email address.
• Transaction Data includes [details about payments to and from you].
• Technical Data includes [internet protocol (IP) address, your login data, browser type and version, time zone setting and location, browser plug-in types and versions, operating system and platform and other technology on the devices you use to access this website].
• Profile Data includes [your username and password, purchases or orders made by you, your interests, preferences, feedback and survey responses].
• Usage Data includes [information about how you use our website, products and services].
• Marketing and Communications Data includes [your preferences in receiving marketing from us and our third parties and your communication preferences].

We also collect, use and share Aggregated Data such as statistical or demographic data for any purpose. Aggregated Data may be derived from your personal data but is not considered personal data in law as this data does not directly or indirectly reveal your identity. For example, we may aggregate your Usage Data to calculate the percentage of users accessing a specific website feature. However, if we combine or connect Aggregated Data with your personal data so that it can directly or indirectly identify you, we treat the combined data as personal data which will be used in accordance with this privacy notice.

We do not collect any Special Categories of Personal Data about you (this includes details about your race or ethnicity, religious or philosophical beliefs, sex life, sexual orientation, political opinions, trade union membership, information about your health and genetic and biometric data).

We may also gather certain information about your use of our services. This may include information from which you and/or your company can be identified such as the times you log on, your volume of use of the services, the types of data, systems and reports you access, the locations from which you log on, duration of sessions and other similar data. The information collected may be also lawfully obtained from third parties, such as public authorities, companies that have introduced you to MAGHNES FOREX, card processing companies, as well as publicly available sources that we are lawfully permitted to process.

Your electronic and/or telephone communication with us is recorded and it is the sole property of MAGHNES FOREX and constitutes proof of communication between us.
You have a choice to supply any or all of the personal information required. However, missing information may result in our being unable to open or maintain your account and /or to provide you with our services.

We gather process and manage the information which allows us to perform our contractual obligations with you and to be compliant with our legal obligations.
Below are the purposes for which your personal information is processed:

1. Performance of a contract
We process your data so as to provide you with our services and products, and to be able to complete our acceptance procedure in order to enter into a contractual relationship with our clients and we need to use the acquired details to effectively manage your services or products with MAGHNES FOREX.

2. Compliance with a legal obligation
A number of legal obligations are imposed by relevant laws to which we are subject, as well as statutory requirements, e.g. anti-money laundering laws, financial services laws, corporation laws, privacy laws and tax laws. In addition, there are various supervisory authorities whose laws and regulations apply to us, which impose necessary personal data processing activities for credit card checks, payment processing, identity verification and compliance with court orders.

3. For the purpose of safeguarding legitimate interests
MAGHNES FOREX processes personal data so as to safeguard the legitimate interests pursued by us or by a third party, where the legitimate interest is when we have a business or commercial reason to use your information. Nevertheless, it must not go unfairly against you and what is best for you.

Examples of such processing activities include:
• Initiating court proceedings and preparing our defense in litigation procedures;
• means and processes we undertake to provide for the Company’s IT and system security, preventing potential crime, asset security, admittance controls and anti-trespassing measures;
• measures to manage business and for further developing products and services;
• risk management.

4. For internal business purposes and record keeping
It may be required to process your personal data for internal business and record keeping purposes, which is in our own legitimate interest and is required in order to comply with our legal obligations. We will also keep records in order to ensure that you comply with your contractual obligations pursuant to the agreement governing our relationship with you.

5. For legal notifications
Occasionally, the law requires us to advise you of certain changes to products and/or services or laws. We may need to inform you of the changes related to our products and services, therefore we will be obliged to process your personal information to send you the legal notifications. You will continue to receive this information even if you opt not to receive direct marketing information from us.

6. For Marketing Purposes
We may use your data for research and analysis purposes, and your trading history in order to deliver any analysis, reports, campaigns that may interest you to your registered email address. Please note that you always have the right to change your option in case that you do not wish to receive such communications any longer.
If you do not want us to use your personal information in this way, please send an email to support@maghnesforex.com asking not to be contacted for any marketing purposes.

7. To assist us in improving our products and services
We may use the personal information provided by you to ensure the highest standards when providing our products and services.

The main purpose we use your personal information for is to enable us understand your financial objectives and ensure that relevant services are appropriate to your profile. Further, this information helps MAGHNES FOREX to provide quality services. While we may send you marketing material (including but not limited to SMS or email communication for you to view, margin calls, or other information) from time to time that we think will be useful to you, we are conscious of the need to respect your privacy. Unless you are informed otherwise, the personal information we hold is used for establishing and managing your account, reviewing your ongoing needs, enhancing customer service and products and giving you ongoing information or opportunities that we believe may be relevant to you.

MAGHNES FOREX will not disclose your personal information without your prior consent.

In case such disclosure is required to be made by law or any regulatory authority, it will be made in order for MAGHNES FOREX to comply with any legal obligations, protect itself from potential fraud, and maintain service provider agreements. In case such disclosure is required it will be made on a ‘need-to-know’ basis, unless otherwise instructed by the regulatory authority. Generally, we require that organizations not under MAGHNES FOREX who handle or obtain personal information as service providers to MAGHNES FOREX acknowledge the confidentiality of this information, undertake to respect any individual's right to privacy and comply with the Data Protection Principles and this policy.

In some circumstances, we may pass on information to third parties if we are legally required to do so or if we are authorized under our contractual and statutory obligations or if we have been provided your consent.

We may also disclose your personal information to third parties if we are under a duty to disclose or share your personal data in order to comply with any legal obligation, or in order to enforce or apply our Site Terms and Conditions.

As a general rule, the client data is processed in countries outside the EU/EEA. When you give us your personal data, you agree to us doing this. This exception applies to the transfer of client data when it is required by law, e.g. reporting obligation under tax law and other tax treaties. (FATCA and CRS)
Processors in third countries are obligated to comply with the European data protection standards and to provide appropriate safeguards in relation to the transfer of your data in accordance with GDPR Article 46.
Upon request, the client may receive further details on client data transfers to countries outside the EU/EEA.

By submitting your information, you consent to the use by MAGHNES FOREX of that information, as set out in this policy. By accessing and using this you are acknowledging that you have read, understood and agree with this privacy policy. We reserve the right to change our privacy policy from time to time and will update this page accordingly. Please review our policy as often as possible – your continued use of the Site will signify that you agree to any such changes.

The Site may, from time to time, contain links to and from the websites of our partner networks and affiliates. If you follow a link to any of these websites, please note that these websites may have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

You can withdraw your consent at any time, however any processing of personal data prior to the receipt of your revocation will not be affected.

MAGHNES FOREX will keep your personal data for as long we have a business relationship with you.
Once the business relationship with you has ended, we are required to keep your personal data for a maximum period of five (5) years to meet our regulatory and legal requirements.

By legislation we are required to respond to any personal data requests within 30 days, unless the type of request requires more time for investigation and assessment. The rights that might be available to you in relation to the personal information we hold about you are outlined below:

1. Receive access to your personal data. This enables you to receive a copy of the personal data we hold about you.

2. Request rectification/correction of the personal data we hold about you. This enables you to correct any incomplete or inaccurate data we hold about you. We may request additional information and documentation required to validate the need for the requested change of data.

3. Request erasure of your personal information. You can ask us to erase your personal data, exercising your right “to be forgotten”, where there is no good reason for us continuing to process it. This request to erase your personal data will result in the closure of your account and termination of the client relationship. However, we are required to maintain the client’s personal data to comply with its legal and regulatory requirements, as well as in accordance with internal compliance requirements in relation to the maintenance of records. We shall preserve data for at least five (5) years following the termination of the client relationship, unless other terms for the preservation of data or documents are prescribed by law.

4. Request to ‘block’ or suppress the processing of your personal data in certain circumstances, such as if you contest the accuracy of that personal information or object to us processing it. It will not stop us from storing your personal information. We will inform you before we decide not to agree with any requested restriction. If we have disclosed your personal information to others, we will inform about the restriction if possible. If you ask us, if possible and lawful to do so, we will also tell you with whom we have shared your personal information so that you can contact them directly.

5. Have the right to object to your personal data being processed for direct marketing purposes. This also includes profiling in as much as it is related to direct marketing. If you object to processing for direct marketing purposes, then we shall stop the processing of your personal data for such purposes.

6. Under the General Data Protection Regulation (679/2016), you have the right, in certain circumstances, to obtain personal information you have provided us with (in a structured, commonly used and machine readable format) and to re-use it elsewhere.

Object, at any time, to any decisions that we may take that are purely based on automated processing (including profiling). Profiling involves the use of technology that helps us make decisions automatically, based on your personal data that we collect from you or from third parties.

Right to file a complaint. If you have exercised any or all of your data protection rights and still feel that your concerns about how we use your personal data have not been adequately addressed by us, you have the right to complain by sending an email to support@maghnesforex.com

You will not have to pay a fee to access your personal data (or to exercise any of the other rights). However, we may charge a reasonable fee if your request is clearly unfounded, repetitive or excessive. Alternatively, we may refuse to comply with your request in these circumstances.

We try to respond to all legitimate requests within one month. Occasionally it may take us longer than a month if your request is particularly complex or you have made a number of requests. In this case, we will notify you and keep you updated.

We endeavor to ensure protection of the information submitted to us, both during transmission and once we receive it. We maintain appropriate administrative, technical and physical safeguards to protect Personal Data against accidental or unlawful destruction, accidental loss, unauthorized alteration, unauthorized disclosure or access, misuse, and any other unlawful form of processing of the Personal Data in our possession. This includes, for example, firewalls, password protection and other access and authentication controls.

However, no method of transmission over the Internet, or method of electronic storage, is 100% secure. We cannot ensure or warrant the security of any information you transmit to us and you do so at your own risk. We also cannot guarantee that such information may not be accessed, disclosed, altered, or destroyed by breach of any of our physical, technical, or managerial safeguards. If you believe your Personal Data has been compromised, please contact us.

MAGHNES FOREX may store your information in its databases for reference in order to answer queries or resolve problems, provide improved and new services and to meet any legal data retention requirements. This means we may retain your information after you stop using the Site or our services or otherwise interacting with us.

Cookies are small pieces of text stored on your computer to help us determine the type of browser and settings you are using, where you have been on the website, when you return to the website, where you came from, and to ensure your information is secure. The purpose of this information is to provide you with a more relevant and effective experience on the MAGHNES FOREX site, including presenting web pages according to your needs or preferences.

MAGHNES FOREX may also use independent external service providers to track the traffic and usage on the website. Cookies are frequently used on many websites on the internet and you can choose if and how a cookie will be accepted by changing your preferences and options in your browser. You may not be able to access some parts of www.MAGHNES FOREX.com if you choose to disable the cookie acceptance in your browser, particularly the secure parts of the website. We therefore recommend you enable cookie acceptance to benefit from all the services on the website.

You have the right to decide whether to accept or reject cookies by setting or amending your web browser controls to accept or refuse cookies. If you choose to reject cookies, you may still use our website though your access to some functionality and areas of our website may be restricted. As the means by which you can refuse cookies through your web browser controls vary from browser-to-browser, you should visit your browser’s help menu for more information.
If you continue to use this website without changing the cookie settings of your web browser then you are consenting to our cookie policy

If you would like to contact us with any queries or comments concerning our privacy policy, please feel free to contact us via e-mail, postal address, or phone.

Moo 3, Rangsit-Pathum Road, Tambon Bangpoon, Ampur Muang,
Pathum Thani 12000 THAILAND

+66 (2) 567 6241