Privacy Statement & Cookie Policy

Our Policy

At MAGNUM FX (We, Us or Our) we respect the privacy of our clients and the confidentiality of information. We are bound by regulations contained within the Data Protection Act 1998 and the EU e-Privacy Directive. Our Privacy Policy statement details how we manage and protect the personal information you give us; and what we hold about our customers. By visiting our website and using our platform and services, you are agreeing to the terms of use our website and services.

Information We Collect

We collect your personal information through the account application process, which we are legally required to hold. We are also required to hold information on your trading activity, website activity and cookie policy. When you visit our website and use our platform, we may also record your IP address (the unique id of the device from which you are accessing our platform). For security and quality control, we may record and monitor any correspondence with you. This information is usually obtained when you sign-up as a customer and use our services. Your browsers cookie permission settings imply consent to our cookie policy. (described in greater detail below)

We use the information in the following ways:

  • for meeting regulatory and legal requirements
  • for marketing and administration
  • for customer services and
  • for content curation and allocation

We keep your records for a reasonable period of time for these purposes. We may also be required to share your information with our service providers and agents. Also, we require that third party organisations who handle personal information as service providers, recognise its confidentiality and put measures in place to ensure that an individual’s right to privacy is upheld at all times. We comply with Data protection principles including this policy.

How we use it

MAGNUM FX and/or agents acting on our behalf may perform identity, fraud prevention and money laundering checks, and in doing so may share your details with other organisations (including law enforcement agencies) involved in fraud prevention and detection who may use your information for the aforementioned checks and control measures.

MAGNUM FX and/or agents acting on our behalf may investigate your credit standing and in doing so may contact banks, financial institutions or credit reference agencies. We may use your information to contact you by phone, text or email, for reasons which include but are not limited to margin calls or other information. By providing us with your personal information you consent to our processing your personal data for the above purposes. You also consent to our transferring your information, for the above purposes, to countries or jurisdictions which may not provide the same level of data protection as the UK.

What are cookies?

These are small pieces of data that are stored on your computer each time you visit a site. Cookies are not programmes and do not deliver viruses. They act more like passports, which identify the user and tracks its activities on the site. Almost every site on the internet uses cookies. They are often just there to make your experience easier and more personal. Their functions are basically :

  • verifying your identity for security purposes
  • determining the type of browser and settings you are using
  • allowing site owners and third-party advertisers to tailor content to your preferences

Use and management of cookies

When you visit our website and use our services, we may obtain some information about you by accessing cookies. Cookies store small pieces of information such as names and email addresses. We do this by using web beacons known as clear GIFs or web Bugs. These beacons will not store any additional information, nor deliver any codes or programmes to your browser. By communicating with our cookies on your computer, we are able to remember things which we use to improve and optimise your user experience.

Essential cookies are crucial for the vital functions of our site and trading platform. If these are disabled, you won’t be able to use the platform or access other important parts of the site. Marketing cookies are used to deliver the most relevant online content to a specific user, aligned with their interests and site activity. Analytical and behavioural cookies allow us to identify our users and remember their preferences.

MAGNUM FX Ltd. uses cookies to ensure your information is secure and allow us to operate with reliability and efficiency. Therefore, you don’t have to go through the trouble of typing in your username every time you access the platform. We can customise site content to your personal preferences and past behaviour and as well us to remember your saved settings which means you don’t have to spend time resetting them, each time you log in to use your account.

You can delete our cookies anytime you like. You can also disable them using the settings in your web browser. It must be said however, that once this is done, this, or other websites may not function as smoothly as you’d like it to.

How do we protect your information?

We take the proper measures to make sure that the information you give us is safe, accurate, current, and kept for only as long as is necessary, and for the purposes stated. All information is held in secure computer storage facilities and is constantly subject to thorough procedures to prevent accident loss, dissemination and destruction.

You are entitled to ask for a copy of the records we keep about you, and to have any inconsistencies or inaccuracies corrected. If you happen to change any vital details such as your name, address or any other personal circumstances, you must let us know, so that we are able to maintain an accurate record.

Getting in touch

If you have any queries regarding the information on record, a change in your personal circumstances, or wish to make suggestions on how we can prove, do not hesitate to contact us on: [email protected]