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Privacy Policy

A. Policy Statement

BFT (“BFT”, “we” and “us”) and our affiliates respect customer privacy and are committed to protecting it. The purpose of BFT’s Privacy Policy is to explain BFT’s privacy policy and practices and how customer personal data (“Personal Information”) is collected, used, disclosed and maintained by us. We will be the data controller of such Personal Information and will process your Personal Information in accordance with our Privacy Policy.

The use and/or purchase of any of our services is subject to the applicable terms. The use of our website is subject to our website terms of use and this Privacy Policy is incorporated into and forms part of those terms.

B. Personal Information BFT Collects

The term “Personal Information” includes information about an identifiable individual. It may include unique details about the individual such as the individual’s name, address, age, and personal identification numbers including those contained in government-issued identification, such as a driver’s license or passport.

BFT collects Personal Information about our customers from the following two main channels:

1. Website, Account, and General Communications

In order to provide materials and services to you, when you visit our website, request materials from us, register for events, or contract with us, we will collect data from you. We will receive your information in these circumstances, including, for example:

  • Visiting and using our website
  • Account Application Forms and other documents and data submitted by customers, including, and not limited to, customer name, residential address, government-issued ID numbers (such as social security numbers), date of birth, employment information, investment experience, annual income, and estimated net worth
  • Customer Transactions with BFT such as ordering our products/services, account deposits, and withdrawals that require customers to provide bank account information
  • Communications with BFT including those with customer service representatives and our Live Chat service (“LiveChat”), BFT’s online customer service help portal.

We refer collectively to these interactions as “Website Services.” We explain below how we collect and use your information collected through the Website Services.

2. Platform

If you request access to our BFT trading platform and payment portal (the “Platform”), we will also collect information about your use of the Platform. The information collected through the Platform will include usage, performance, analytic, and metadata, and some of this may include your Personal Information. This does not include the BFT demo trading account (which falls within the scope of our Website Services).

BFT does not collect more Personal Information than is required to open and operate customers’ accounts and to comply with regulatory compliance and other legal obligations.

Website, Account, and General Communications – What We Collect

We (or third parties acting on our behalf) may collect your information, including your Personal Information, when providing the Website Services including:

  • Name
  • Email
  • Address
  • Phone Number
  • Country of Residence
  • Date of Birth/Age
  • IP Address

Platform – What We Collect

We (or third parties acting on our behalf) may collect your information, including your Personal Information, when providing access to the Platform including:

  • Name
  • Email
  • Address
  • Phone Number
  • Country of Residence
  • Date of Birth/Age
  • Tax Identification Number
  • Income
  • Income Source
  • Level of Liquid Savings and Investment
  • IP Address
  • Employment Status
  • Employer Name
  • Industry
  • Trading Experience
  • Criminal and/or civil offenses by way of a background check
  • Government Identifiers and documents containing information, such as: Social Security Number / Passport Number & Passport Expiry (which we electronically verify)
  • Password
  • Educational Details

B. How BFT Uses Personal Information

The term “Personal Information” includes information about an identifiable individual. It may include unique details about the individual such as the individual’s name, address, age, and personal identification numbers including those contained in government-issued identification, such as a driver’s license or passport.

BFT collects Personal Information about our customers from the following two main channels:

1. Website, Account, and General Communications

In order to provide materials and services to you, when you visit our website, request materials from us, register for events, or contract with us, we will collect data from you. We will receive your information in these circumstances, including, for example:

  • Visiting and using our website
  • Account Application Forms and other documents and data submitted by customers, including, and not limited to, customer name, residential address, government-issued ID numbers (such as social security numbers), date of birth, employment information, investment experience, annual income, and estimated net worth
  • Customer Transactions with BFT such as ordering our products/services, account deposits, and withdrawals that require customers to provide bank account information
  • Communications with BFT including those with customer service representatives and our Live Chat service (“LiveChat”), BFT’s online customer service help portal.

We refer collectively to these interactions as “Website Services.” We explain below how we collect and use your information collected through the Website Services.

2. Platform

If you request access to our BFT trading platform and payment portal (the “Platform”), we will also collect information about your use of the Platform. The information collected through the Platform will include usage, performance, analytic, and metadata, and some of this may include your Personal Information. This does not include the BFT demo trading account (which falls within the scope of our Website Services).

BFT does not collect more Personal Information than is required to open and operate customers’ accounts and to comply with regulatory compliance and other legal obligations.

Website, Account, and General Communications – What We Collect

We (or third parties acting on our behalf) may collect your information, including your Personal Information, when providing the Website Services including:

  • Name
  • Email
  • Address
  • Phone Number
  • Country of Residence
  • Date of Birth/Age
  • IP Address

Platform – What We Collect

We (or third parties acting on our behalf) may collect your information, including your Personal Information, when providing access to the Platform including:

  • Name
  • Email
  • Address
  • Phone Number
  • Country of Residence
  • Date of Birth/Age
  • Tax Identification Number
  • Income
  • Income Source
  • Level of Liquid Savings and Investment
  • IP Address
  • Employment Status
  • Employer Name
  • Industry
  • Trading Experience
  • Criminal and/or civil offenses by way of a background check
  • Government Identifiers and documents containing information, such as: Social Security Number / Passport Number & Passport Expiry (which we electronically verify)
  • Password
  • Educational Details

C. How BFT Uses Personal Information

We may hold and retain information about you for various purposes:

1. Website, Account, and General Communications

Some of the information we collect from you is necessary to enable us to deliver the Website Services to you in accordance with our terms, and sometimes we are required by law and regulations to collect and process this information about you. At other times, we consider it is in our legitimate business interests to collect and process this information, taking into consideration your privacy rights.

We may use your information to:

  • Fulfill your orders or respond to requests you make in connection with providing the services under our terms with you.
  • Provide you with a response pursuant to your request and your agreement with the applicable terms. We will collect and use Personal Information including your name and email address.
  • Provide our Website Services to you, including access to a demo account or support through our LiveChat function.

In order to perform the Website Services under the contract between you and BFT, we have to collect certain information from you, such as your name and contact details. Without this information, we may not be able to deliver the services which you request from us.

  • Improve and develop the Website Services
    We look for ways to innovate and advance our Website Services. We will use information about how you use the Website Services, including how you interact with various aspects of the Website Services, the duration for which you use the Website Services, and content that is of interest to you, in order to do this.
    It is in our legitimate business interests to use Personal Information in this way to improve Website Services.
  • Send administrative information, changes to contract terms or policies
    Where we make updates to terms and policies, we are required under certain laws and under our contract with you to notify you of these changes. Other administrative communications may be necessary in order for us to perform our obligations under the contract with you or may be sent out in line with our legitimate business interests.
  • Send marketing communications like product announcements, educational materials, or upcoming online or offline events, where you have not objected to receiving these or with your consent where required.
    This may also include inviting you to participate in various promotional activities and consumer research surveys.
    It is in our legitimate business interests to generate growth for our company to ensure we continue to develop and drive sales of our products and services. We will carry out marketing campaigns and research surveys in accordance with applicable laws.
  • Research and analyze how our Website Services are used via cookies, web beacons, and other similar technologies to personalize the Website Services.
    (For more information about our use of cookies and your choices to opt out of their use, see “Cookies” at Section H below.)
    We use your information in our legitimate business interests to understand how you interact with our Website Services and to deliver relevant content to you online.
  • Diagnose and fix technical issues and monitor the security of our environments.
    We need to understand how our Website Services are performing in order to prevent and address any issues that may present themselves regarding technical and security operations. We may process your Personal Information for this purpose in our legitimate business interests to protect the integrity of the Website Services.
  • Comply with any applicable law, regulation, legal process, or governmental request.
  • For any other purpose disclosed to you in connection with our Website Services from time to time.

If we intend to process your Personal Information for a purpose other than that set out above, we will provide you with information prior to such processing.

It is also in our legitimate business interests to process your Personal Information to protect our rights or property, or the security or integrity of our Website Services.

Third-Party Content

The Website Services may offer access to third-party services. These services may collect and use your information.
This Privacy Policy does not extend to third-party apps or add-ons (which may also collect your information) even if packaged by BFT or offered through the Website Services.

2. Platform

We collect Personal Information, including payment details as set out above, in order to provide access to the Platform under the contract between BFT and you.
We are also required to keep these payment details to comply with our own legal obligations.

We also collect and process Usage Data when you use our Platform (e.g., IP address, session duration, activities undertaken on the Platform, and other use data) in order to provide, maintain, and improve our Platform.

In addition, we collect and process data about our Platform, features, or users in order to improve the Platform (“Analytics Data”).
Analytics Data may include information about the devices operating the Platform (e.g., browser type/version, OS type/version, device type/version), or other similar information about user configuration or operation of service features or functionality.

While both Usage Data and Analytics Data may not contain information that can be used to identify you in the “real world” (such as a name or address), we collect this data and store it against a uniquely assigned ID.

Automated Decision-Making

In certain circumstances, BFT may process your Personal Information through automated decision-making.
Where this takes place, you will be informed of such automated decision-making that uses your Personal Information and be given information on the criteria and procedures applied.

You may:

  • Request an explanation about automated decision-making carried out.
  • Request that a natural person review related decisions where such a decision is exclusively based on automated processing.

We may use algorithms to perform certain data analyses to, for example, monitor transactions for fraudulent activity as well as to review the general performance of our clients.
If such analysis raises concerns about fraudulent activity, we may take steps to close the client account and liaise with regulators as necessary.

How We Use Platform Data

Usage Data – BFT Uses Usage Data To:

  • Positively identify and determine the eligibility of customers opening accounts
  • Evaluate whether currency trading is suitable for each customer
  • Complete bank deposits and withdrawals
  • Effect, administer, or execute transactions requested or authorized by the customer
  • Maintain or service the customer’s account with BFT
  • Enter into a contract with you or perform a contract already in place between us

Analytics Data – BFT Uses Analytics Data To:

  • Better understand how our users configure and use our Platform
  • Determine which configurations or practices optimize performance (e.g., best practices)
  • Perform data analyses and audits
  • Identify, understand, and anticipate performance issues and the environmental factors that affect them
  • Support other business purposes related to the operation, improvement, or development of our Platform

The use of Analytics Data, for the purposes described above, is carried out pursuant to our legitimate business interests to develop, expand, and improve our Platform offering.

We balance our legitimate business interests with your privacy rights and take steps in how we process and use Usage Data and Analytics Data to protect each of them.

Personal Information collected online may be combined with other information customers provide to BFT in hard copies or through the BFT help desk.

D. Disclosure of Customer Personal Information

BFT may disclose Personal Information of current and former customers to affiliated and non-affiliated third-party entities in connection with our business, including, without limitation:

  • Any member of our group, which means our subsidiaries, our ultimate holding company, and its subsidiaries.
  • BFT’s service providers that perform services on BFT’s behalf under written agreements which restrict use of Personal Information to the limited purposes for which it is provided to them and require them to refrain from further use or disclosure except as permitted by law.
    This may include companies that perform background checks or identity verification, tax declaration storage and verification, payment service providers, infrastructure, data analysis, business intelligence, customer relationship platform providers, marketing support service providers, consumer research service providers, cloud service providers, and IT service providers.
  • Credit reference and information agencies.
  • BFT strategic partners to permit them to assess your interest in Website Services, including foreign exchange payments and international money transfers.
  • BFT affiliates, who are permitted to disclose and use the information only to the extent that BFT may disclose and use the information under this Privacy Policy.
  • BFT’s attorneys, accountants, and auditors.
  • Persons holding a legal or beneficial interest relating to the customer’s account.
  • Persons acting in a fiduciary, representative, or attorney capacity in relation to an account.
  • To protect against actual or potential fraud, unauthorized transactions, claims, or other liability.
  • Government, regulatory, or law enforcement agencies to the extent permitted or required by law, or to comply with applicable legal requirements.
  • To monitor our services, whether provided by ourselves or a third party.
  • To comply with civil, criminal, or regulatory investigations, or judicial processes, summons, or warrants by appropriate federal, state, or local authorities.
  • As required in the event of a proposed or actual reorganization, merger, sale, joint venture, assignment, transfer, or other disposition of all or any portion of BFT’s business, assets, or stock (including in connection with any bankruptcy or similar proceedings).

Client Confidentiality Obligations

The client confidentiality obligations set out in our Privacy Policy do not and will not apply to any confidential information required to be disclosed (by us or you) pursuant to any applicable law, or the lawful request of any court of competent jurisdiction, government agency, or regulatory body.

In each case, we (or you) will notify and consult with you (or us) in advance as to the timing and content of such disclosure, except where applicable law prohibits us (or you) from doing so.

Except as stated in this Privacy Policy, BFT will not share Personal Information about any current or former customer with any non-affiliated third party without the customer’s prior written consent.

E. How we secure your Personal Information

All information you provide to us is stored on our secure servers. BFT has implemented procedures to safeguard customer Personal Information. BFT limits access to Personal Information only to those BFT employees who need to know that information in order to provide our products or services to our customers.

BFT maintains physical, electronic, and procedural safeguards to protect Personal Information. BFT protects customer account information by keeping it on the secure portion of its website, using firewalls and other security technologies to protect its network and systems from external attacks, and by requiring customers to enter a unique user ID and password to access the BFT systems.

BFT also conducts periodic internal audits of its business practices and procedures, examining its confidentiality standards and information access, in order to best protect our customers’ Personal Information.

Where we have given you (or where you have chosen) a password that enables you to access certain parts of our Website Services and Platform, you are responsible for keeping this password confidential. We ask you not to share your password with anyone.

Unfortunately, the transmission of information via the Internet is not completely secure. Although we do our best to protect your Personal Information, we cannot guarantee the security of your data transmitted to our Website Services and Platform; any transmission is at your own risk.

Once we have received your information, we will use strict procedures and security features to prevent unauthorized access.

F. For how long we retain your Personal Information

We retain Personal Information:

(a) In relation to the Platform, for as long as you have an account with us in order to meet our contractual obligations to you, and for five years after the end of the account relationship to identify any issues and resolve any legal proceedings.

(b) In relation to Website Services, for 12 months, unless such data is likely to relate to a contract you may enter into in the future, and subject to any access requests you may make.

(c) In relation to any data provided with consent for research purposes, until such time when the data is no longer needed for the purpose for which it was originally collected.

We may also retain aggregate information beyond these timeframes for research purposes and to develop and improve our services.
You cannot be identified from aggregate information retained or used for these purposes.

G. Customer Recourse

Any concerns a customer may have regarding BFT’s Privacy Policy, or specific complaints about how customer Personal Information has been collected, used, or disclosed, should be sent in writing to BFT’s Privacy Officer.

BFT will thoroughly investigate the complaint, take any warranted actions, and notify the customer once such investigation and actions have been completed.

Cookies Policy

Cookies are small text files placed in visitors’ computer browsers to store their preferences. The Website Services, our Platform, and our third-party partners collect and store information that is generated automatically as you use it, including your preferences and anonymous usage statistics.

BFT collects information about your device and uses tracking mechanisms such as cookies to:

  1. Facilitate customer use of our website and mobile applications.
  2. Enable customization of our online services and website features.
  3. Avoid customer re-entry of data.
  4. Store customer preferences for certain kinds of information.
  5. Enhance security measures.
  6. Gather data about usage of our website and mobile applications for research and promotional purposes.

BFT uses cookies from third-party service providers to facilitate website tracking and security measures.
We may share the information collected with third parties acting as our service providers, who are required to maintain the confidentiality of the information.

We use these cookies and other technologies on the basis that:

  • They are necessary for the performance of a contract with you.
  • Their use is within our legitimate business interests, where we have determined that these interests are not overridden by your rights.
  • In some cases, where required by law, we obtain your consent for their use.

Types of Cookies We Use

1. Essential Cookies

These cookies are required for the operation of our Website Services and/or our Platform under our terms with you.
They include cookies that enable you to log into secure areas of our Website Services and/or Platform.

2. Analytical / Performance Cookies

These cookies allow us to recognize and count the number of visitors and to see how visitors move around our Website Services and/or Platform when they are using it.
This helps us improve functionality, for example, by ensuring users find what they are looking for easily.

3. Behavioral Cookies

Behavioral cookies are used to recognize you when you return to our Website Services and/or Platform.
They enable us, subject to your choices and preferences, to:

  • Personalize our content.
  • Greet you by name.
  • Remember your preferences (e.g., language selection or region).

4. Marketing Cookies

These cookies allow you to experience more relevant online content and see advertisements aligned with your interests, based on your activity on our site.

Managing Your Cookie Preferences

Customers can configure their browser settings not to accept cookies, except for essential cookies.

However, declining optional cookies may result in reduced functionality of the Website Services or Platform.

Some third-party vendors that provide ads on BFT’s web pages may use cookies to collect details about customer website visits and other data (excluding names, addresses, email addresses, or phone numbers) to display ads about goods and services of potential interest.

For more information on this practice or to opt out of non-essential cookies, customers can visit the Network Advertising Initiative (NAI) website.
Opt-outs are also available for Google Analytics.