This policy is the property of Skilling Ltd, previously named Finovel Cyprus Ltd. The reproduction in whole or in part in any way including the reproduction in summary form, the reissue in a different manner and any changes in the original manual or any translated version is strictly forbidden and is only allowed with the prior written consent of Skilling Ltd.
Authorised and regulated by the Cyprus Securities and Exchange Commission under CIF license number 357/18.
Skilling Ltd, and its related entities (hereafter the "Company”, "we", "our"), is responsible for the protection of the privacy and the safeguarding of clients’ personal and financial information. By opening a trading account with the Company, the client (hereinafter referred to as the “ Client”, “ you”, “ your”) hereby gives its consent to such collection, processing, storage and use of personal information by the Company as explained below.
Scope
The purpose of this Privacy Policy (“Policy”) is intended to inform you how we collect, use, record and disclose your personal information and/or data. You are encouraged to carefully read and use this Policy to make informed decisions. By using our website and services you agree to the terms of this Policy and continued use of your information and data in accordance to provisions of this Policy.
This Policy is governed by the Cyprus Personal Data Protection Law (the “Law”) as amended to date, and the comprehensive EU Data Protection Acts including the General Data Protection Regulation (EU) 2016/679 which repeals Directive 95/46/EC (the “GDPR”) and Directive 2016/680, which applies specific data protection rules in the area of law enforcement.
The terms used in this Privacy policy have the same meanings as our ‘Terms and Conditions’, which is available to all our clients through the Company’s Website.
1.Right to Privacy
1.1. In addition to the above, the Company respects each individual client’s right to privacy, and value our business relationship with our clients by providing you with privacy and security.
1.2. The Client has the rights to (1) access personal data (2) to correct inaccurate data (3) under certain case request personal data erased, (4) to object to receiving direct marketing and (5) to move personal data from one service to another (data portability) of his/her personal data, as required by the applicable Law and Regulation. In case the client refuses to give his/her consent, opt-out or object to use of his/her personal data, we reserve the right to contact the client at any occasions where we still need to contact the client.
1.3. In the event of you submit a written request for a copy of the personal data that the Company holds, we may charge a reasonable fee to comply with the request when it is excessive, repetitive or unconfirmed data based on administrative costs.
1.4. We collect, use and maintain the information and/or data from you to the extent considered appropriate to provide you with quality services. Information we collect from you shall be used to verify your identity and help us customise the developing needs of your trading experience with us.
2. The collection of personal information
2.1. The Company collects the necessary information and/or data required to open a client’s trading account, perform transactions and safeguard the clients’ assets and privacy, and to provide clients with the services they require. The information the Company collects includes information required to communicate with and identify its clients. The Company may collect certain personal information and/or demographic data including but not limited to:
- Personal information such as name, residential address, nationality, birth date, contact number, email;
- Financial information such as estimated annual income, net worth, investment knowledge and investment trading experience;
- Identity verification documentation or/ data such as passport, ID card, utility bill, bank statement, Social insurance number or/ Tax identification number (incorporation documents for legal entity);
2.2. In this respect, the Company gathers information directly from the clients and may, in certain circumstances, gather information indirectly from the banks and/or credit agencies, and/or clearing agencies and/or other sources which will help the Company to construct the clients’ profile based on their requirements and preferences in order to provide its services effectively.
2.3. By providing us with information, you consent to the collection, usage and storage of your personal information for the manner referred to hereinafter.
3. Usage of personal information and/or data
3.1. We use the clients’ personal information and/or data only as required to provide quality service and security to our clients. This information helps the Company to improve its customer services, process transaction, customize browsing experience and enables it to inform its clients of additional products, services or promotions relevant to clients and in this respect you hereby consent to the usage of this data for such purposes. In addition to the purpose mentioned above, the information we collect may be used for the following purposes:
- to authenticate and verify the customer’s identity;
- to assess application(s) /inquiry(ies) for our products and services;
- to process the customer’s transaction in relation to his/her investment(s) in any of our products and services;
- to monitor transactions for the purposes of preventing Money Laundering, fraud, irregular and suspicious account activities, and detection of related risks;
- to notify customers about benefits and changes to the features of products and/or services;
- to support and respond to customers’ enquiries, and complaints and generally to resolve disputes;
- to update, consolidate and improve the accuracy of our records;
- to produce data, reports and statistics but not limited to the clients’ related to trading activities which have been anonymized or aggregated in a manner that does not identify the customer as an individual;
- to conduct anonymous research for analytical and/or statistical assessments in order to improve your needs and interest;
- to facilitate audit, risk management and/or compliance; and/or
- to investigate violations and enforce our policies, and as required by applicable Laws, Regulations or the competent government authority.
3.2. For the purposes mentioned above, we may disclose or share your personal data the competent authority(s), banks, credit agencies and/or credit providers, repository agencies, clearing agencies, service providers and/or specialist advisers under a contract for IT, financial, regulatory or other services which will help the Company provide its services effectively in accordance to applicable Laws and Regulations.
4. Storage of personal information and/or data
4.1. The Company shall retain your personal information and/or data only for as long as it is necessary to fulfil the purpose for which you have provided us or to comply with any regulatory, legal or internal policy requirements, and the applicable Laws and Regulation for protection of personal data.
4.2. If and when you and/or the Company choose to end the business relationship, we reserve the right to keep your Personal Data on records for a further five (5) years pursuant to the applicable Laws, Regulations, and/or where required by the Company in order for us to perform our duties in the discharge of our regulatory obligations.
4.3. If, for any reason, you do not want to receive information of this nature, you may contact to support@skilling.com or contact our customer support.
5. Protection of personal information and/or data
5.1 Any personal information provided by the client to the Company will be treated as confidential and shared only within the Company and its affiliates and will not be disclosed to any third party except under any regulatory or legal proceedings. Any disclosure that is required to be made by Law or any Regulatory authority, it will be made on a ‘need-to-know’ basis, unless otherwise instructed by the Regulatory authority. Under such circumstances, the Company shall expressly inform the third party regarding the confidential nature of the information.
6. Data Transfers outside EU/EEA
6.1. The Company may transfer the client’s personal information and/or data outside the EU/EEA subject to the below conditions, and ensuring appropriate and suitable safeguards based on standard contractual terms adopted by the European Commission:
- the EU has designated a country as providing an adequate level of data protection;
- through approved model contracts or binding corporate rules; or
- by complying with an approved certification mechanism, e.g. EU-US Privacy Shield (when applicable).
7. Affiliates and Partners
7.1. The Company may share information with affiliates in the event such information is reasonably required by such affiliate in order to provide the products or services to its clients. The Company may share information with partners, affiliates and associates in order to offer additional similar products and services that meet clients’ needs and which are delivered in a manner that is useful and relevant only where clients have authorised the Company to do so.
8. Non-affiliated third parties
8.1. The Company does not sell, license, lease or otherwise disclose clients’ personal information to third parties, except as described in this Privacy Policy.
8.2. The Company reserves the right to disclose personal information to third parties where required by Law, regulatory and other government authority. The Company may also disclose information as necessary to credit reporting or collection agencies as reasonably required in order to provide the services to Company and/or its clients.
8.3. In addition, the Company may engage third parties to help carry out certain internal functions such as account processing, fulfillment, client service, client satisfaction surveys or other data collection activities relevant to its business. Use of the shared information is strictly limited to the performance of the above and is not permitted for any other purpose. All third parties with which the Company shares personal information are required to protect such personal information in accordance with all relevant legislation and in a manner similar to the way the Company protects the same. The Company will not share personal information with third parties which it considers will not provide its clients the required level of protection.
8.4. In cases where the client has been introduced by a Business Introducer, such Business Introducer may have access to clients’ information. Hence, the client hereby unequivocally consents to the sharing of information with such Business Introducer.
9. Marketing
9.1. In addition to the purposes mentioned above, the Company may share and use your personal information and/or data with third parties or/ affiliates for the purpose of providing you with promotional materials, related to our services as well as products, websites and application, which may interest you.
9.2. You are entitled to withdraw your consent, opt-out or/ unsubscribe from receiving further marketing offers from us or/ our affiliates, as required by the applicable law and regulation. However, we may continue to send you business insights, event news, notification and/or updates related to our services, products and other communications regarding the industry.
10. Contact Clients
10.1. From time to time the Company may contact the client whether by phone or email for the purpose of offering further information about the Company’s Contract for differences (CFDs) trading. In addition, the Company may, on occasion, seek to contact clients for the purpose of informing them of unique promotional offerings provided by the Company for the client.
10.2. The client accepts and consents to the receipt of such contact when they consent to our terms and conditions of use when registering with the Company. Any person wishing to opt out of further contact with the Company at any time whatsoever is entitled to do so, simply by contacting the Company whether by phone or email and requesting that no further contact on behalf of the Company be made.
11. Restriction of responsibility
11.1. The Company is not responsible for the privacy policies or the content of sites to which our Website links to and has no control of the use or protection of information provided by the clients or collected by those sites. Whenever a client elects to link to a co-branded website or to a linked website, the client may be asked to provide registration or other personal information. Please note that such information is recorded by a third party and will be governed by the privacy policy of that third party.
12. Security
12.1. We value your trust in providing us with your personal information and/or data, thus we endeavor to collect and use lawful means of protecting the clients’ personal information and/or data.
12.2. You acknowledge that the transmission of information via the internet is not completely secure and that the Company shall not guarantee the non-existence of viruses and it shall not be held responsible in case of damage caused to the Client’s software device due to a virus.
12.3. The Company shall notify you of any breach which is likely to “result in a risk for the rights of the client within” 72 hours of first having become aware of the breach (without undue delay), as required by the applicable Laws and Regulations.
12.4. If you wish not to receive any email notification related to marketing, survey or any other offers, you are required to simply unsubscribe.
13. Use of "Cookies"
13.1. The Company uses cookies to secure clients’ trading activities and to enhance the performance of the website. Cookies used by the Company do not contain personal information or other sensitive information.
13.2. Cookies are small files that we store on your browser or the hard drive of your computer if you agree. Cookies contain information that is transferred to your computer’s hard drive.
13.3. The Company may share website usage statistics with reputable advertising companies and with its affiliated marketing companies. It is noted that the information collected by such advertising companies is not personally identifiable. Such information, which the Company may collect and share, remain anonymous and not personally identifiable.
13.4. To administer and improve the website, the Company may use third parties to track and analyze usage and statistical volume information. The third party may use cookies to track behavior and may set cookies on behalf of the Company. You can read more about the types of cookies that we use via our Website.
14. Mobile Application
14.1. The Company may collect data from the client’s mobile device via a third party who use advanced encryption mechanisms. Such information and/or data includes the brand, type and hardware token of the mobile device transferred to us during registration of the device in the Application and it is used for explicit identification of the Applicant and/or Application and the mobile device.
14.2. We may access certain functions on your mobile device but not limited to internet connection, phone mode, and other functions to help which will help us provide our clients with our services efficiently.
14.3. Personal Data collected by us from Mobile applications shall remain anonymous to third party. The Mobile device users’ activity on Mobile Applications may be used by us for statistical and/or regulatory monitoring purposes.
15. Modification of Personal Data
15.1. The client may submit a request to modify, correct or/ update his/her information and/or data which is held under our records, but not limited to residential address and passport number. You agree to provide the Company with the updated and/or supporting documentation to enable us to update our records and hold accurate information or/ data as required by applicable Laws, Regulations and/or competent authority.
16. Minors
16.1. The Company’s services are not available to people aged under the age of 18 or who have not attained the legal age (“Minors”). We disclaim any liability for unauthorized use by Minors of our online services, trading platform in any manner or another.
17. How to contact us for more information or to resolve a complaint
17.1. Your possible privacy concerns are important to us. The Company is committed to resolving any complaint and to attend to answering any general questions about our services or/ information that we collect and how it is used by us. All privacy-related complaints and general questions may be communicated to us by phone and/or email us on support@skilling.com.
18. Privacy Policy Updates
18.1. The Company reserves the right to review and/or amend this Policy at its sole discretion, whenever it deems fit or appropriate by law, and the revised Policy will be uploaded on the Company’s Website.
18.2. Your continued use of our services, following any notification of such amendments, constitutes your acknowledgement and consent to such amendments to this Policy and your agreement to be bound by terms of such amendments.
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