At ReserveEX, we value the relationship with our customers and to strengthen it even further, we offer utmost loyalty and respect for our clients’ right to privacy.
At ReserveEX, basically, there are two categories of data that are collected from the users and the clients. These two categories are as follows:
a) Personal Information: This type of information is quite vast but generally includes details such as name, residential address, identification and/or passport number, date of birth, email address, employment details, information relating to financial circumstances, investment experience, etc.
b) Traffic Pattern: This type of data is related to the kind of traffic that visits REX. This kind of information includes information on web pages that are accessed by our users, and also the other traffic that accesses our website, trading platforms, website cookies, etc. from time to time. This kind of information is anonymous and is used in an aggregated form.
Usually, the personal data is collected when the user applies for the REX trading account. Data is also collected when a user applies for a demo account. Please note that the data is also collected in whatever mode of communication a user has with our representatives, or through any registration, subscriptions, or sign-ups on our website, although REX does limit the data collection of the personal data to what is required, in order to offer accurate and suitable services and products to our users.
Other modes of personal data collection are not regular means but they include ways such as time-to-time surveys. The information collected from these measures is basically used for research and market understanding purposes so that we can offer you improved services and products every time.
The personal information is also collected through other indirect ways such as recording of any telephonic conversation with any of our representatives, or by archiving any electronic records such as emails, online chats, messages, and so on. The information collected in this manner is usually not accessed on a routine basis, but only for compliance or security reason/s.
Reason for data collection, processing, and disclosure of the personal data
Here you can read all the reasons why we collect the above two kinds of information i.e. personal information and traffic pattern:
- The collection of information helps us to improve our products and services that we offer to our clients. This collection also helps in maintaining good relations with the clients and fulfilling their expectations.
- It helps us to properly execute and administer transaction/s that our clients request of, or which is authorized by our clients.
- Thirdly, it helps us to maintain (sometimes in cases of terminations) our users’ accounts on our platform.
- The data collection also contributes towards the enhancement of the content quality, improvement of the user experience on REX. We can also keep our users and clients updated with any such new updates.
- Further, the data collection helps in the distribution, research, analysis, commentaries, learning insights on the market needs, newsletters, and so on.
- It helps in the distribution of information for marketing reasons about a product or service/s that REX offers which is in line with the user’s needs and inclinations based on past data. One should note that the user is free to request a stop for receiving any promotional service by using the ‘unsubscribe’ option.
- Another reason is to perform client surveys and other analysis-based activities so that the overall services and products offered by REX can be improved.
There is another category of reasons that explains why personal information is collected. This is based on the legal and compliance requirements:
- To carry out diligent procedures for processes such as opening and closing accounts and for monitoring reasons.
- To carry out the company’s internal risk management process, carry out audit/s, check the financial accounting, management reporting purposes, and analysis by adhering to the monitoring and compliance procedures.
- For the execution of the bank withdrawals and/or deposits.
- To enforce and support legal rights.
- For disclosing the information to authorized bodies and other law enforcement agencies in cases related to the prevention of crime and detection reasons.
- It is also used for answering, managing, processing queries, suggestions, applications, grievances, feedback, requests from clients and other users.
- It is directly used for the purpose which has been requested by the client/s.
- For incidental business reasons which are in the context of the above-mentioned points.
Data for processing and disclosing purposes:
There are incidents where REX may require to share, process, and disclose the personal data collected. Such incidents include:
- Disclosing the personal data for the purpose of carrying out any obligation during or in relation to the services requested by the client/s, or,
- The personal data may be required to be disclosed to a third party such as service providers, agents, and similar organization/s in order to perform any functions related to the service/s offered to you. Such functions may include:
- Disclosing the personal data to REX’s parent company or any group of companies who are authorized to access the personal data for legitimate reasons such as:
- For the purpose of execution and administering of any transaction/s which are requested or authorized the client/s.
- For various services in relation to the client’s accounts such as- maintenance, servicing and/or termination.
- Disclosing the personal data to the third party such as service providers, agents, and similar organization/s (who are bound in ‘non-discloser agreements’ and other legally permitted freedom on the use of personal data). They usually require personal data in case of ‘need-to-know’ technical requirements.
- Discloser is also done with the REX’s legal counsels, accountants, auditors, and other related professional officials.
- People with legal/ beneficiary interest to the client’s account (this includes authorized representatives, people who are acting in a fiduciary, and/or as per the legal framework).
- Disclosure is also needed as per some legal requirements such as the prevention of any fraud, illicit transaction/s, any false claim or liability towards any government, or any law enforcement agencies, or any investigations related to any judicial process or assistance for the legal or regulatory processes.
The personal data is also disclosed or shared in a non-personal aggregate form. REX shares this kind of data with the third party/parties which are listed above for business related uses.
Please note that REX DOES NOT disclose or share or process any personal data of the client/s with business partners or any other third party service providers for marketing purposes.
The overseas transfer of the personal information:
There can be all sorts of reasons behind transferring the information overseas. These reasons include managing the data, storing it overseas, and consolidating it. For such reasons, the personal data is shared with REX’s parent company, group companies, business partners, and if required with the third-party service providers, and to the platforms with data storage facilities.
Please note, that the data is stored in complete accordance with the Personal Data Protection Act, 2012 (‘PDPA’). This ensures complete protection against manipulation, theft, or any kind of misuse of the personal data information while keeping it safe with utmost high standards.
The Personal Data Protection Act, 2012 (“PDPA”) puts forth a strict guideline framework on any company and its employers, employees, and representatives when it comes to what, how much, when, where, and with whom, the ‘consented’ data is shared. This Act ensures the utmost safety, privacy, and confidentiality of the client’s personal data and protects it from any kind of exploitation. Therefore, be informed that no data of yours can be shared without your consent. We, at REX, treat your consent with a very high value. Only in the extreme cases, the personal data is disclosed, that too happens within the permission of legal boundaries and required regulations.
- Implied consent: Further, you should note, that in any circumstance where REX asks for the client’s personal information in lieu of providing him or her with service and products, there exists an ‘implied consent’ that the personal data is shared in exchange of the services and products we at REX will offer you.
- Express Consent: There are situations where due to the demands made by the law, we ask you for an ‘express consent’ during the time of collecting your personal information. This is usually when a service is initiated at REX for a new client, or when an existing client opts for new service/s or products where a fresh consent is required.
- Consent of a third party: Third party here refers to people linked to you either through family bonds or business bonds or through known acquaintances. So, wherever you mention the personal information of any third party (which can include people like your spouse, children, parents, etc), it is implied that a warrant of consent on the behalf of the third party has been given. This consent is similar to an individual consent of using the personal data for purposes stated above which are very well within legal parameters.
- Withdrawing of the consent: Yes, it is very much within the power of the client of ReserveEX. One can withdraw your consent regarding using/sharing of your personal data. It can be done at any time simply by contacting us.
Please note that when you withdraw your consent for any particular purpose or all the purposes, it naturally affects all the quality, freedom, and standards of our service and products for you.
The time we take on processing your request, how much and till what extent the services and products will get affected, all boils down to the complexity of the request made by the client. Before processing your request, REX notifies you of the consequences that will follow after the successful withdrawal of your partial or full consent. These consequences may include legal consequences, access to any particular or all the service and products, whether or not you can contact other user accounts, and other effects on your rights and liabilities.
Retention of the personal data:
The duration of personal data retention by REX is dictated by the fulfillment of the purpose behind the data collection, and/or as per any specific requirements by the law. REX doesn’t retain any personal data after the period of storing the personal data is served. The retention is revoked when the personal data is no more necessary for any legal or business purposes.
Storing the correct and up-to-date personal data:
At REX, it is always our effort to keep the records of the personal data of our clients up-to-date and accurate. In cases where the client’s details change, for instance, when someone relocates, or gets married, or his or her designation changes, or simply the current details are not recorded correctly; in such scenarios, any updation that is required, should be requested by the client. Our client can contact us any time for the correction, amendment, or the update purposes of your personal data. The same applies for our corporate clients for correction, amendment, or the update purposes of their business information.
The way to change your personal data or business information is simple. You can directly contact us via an email at email@example.com, or (if applicable) you can update your information through your account representative.
Your rights to access:
The users of REX are entitled to access rights on their personal data. They can request to know in detail about it by contacting us at [email protected]
The request is usually processed within 30 days on receiving such a request. In scenarios where there is any anticipated delay or non-ability of processing your request, REX informs you well within the mentioned time.
Also, there is a reasonable charge towards the administrative fee, to be paid by the client, for availing this service. The fee is disclosed well before the request is processed.
Safeguarding Personal Data:
ReserveEX is committed to safeguarding its client’s personal data. There are many security procedures, technical, and organizational safety processes in place to carry out the security measures. Here is a glimpse of what we offer:
- ReserveEX offers robust and sturdy firewalls and security set-ups to offer protection against the external attacks, for detecting any potential attacks, to have a strong prevention and defense mechanism against hacking attacks, and other malware attacks.
- ReserveEX carries out pro-active security practices too. There are regular security awareness workshops, discussions, events which keep our employees up to date in recognizing, handling, and preventing personal data and other IT related services from any potential threat or future risks.
Despite all the strong measures taken against any possible IT danger, we still urge the user/s to use the internet wisely. The alarming rate of growth of wrong internet practices always advises that the one should use the internet cautiously, and protect the personal data which is transferred from/to you via the internet. The use of trustworthy devices, connections, and securely handling the sensitive information is always encouraged. Please note that the user is responsible for keeping his or her rights to access rights secure and private at all times. If you wish to learn more about our security guidelines, you can read them here.
How website Cookies are used on REX:
Cookies are basically text files which consist of letters and numbers that give out information of the user’s browser, details about the device from which he or she is accessing any platform. These text files are usually saved on the user’s hard disk for keeping a track of the websites that are visited by the user.
- Third-party cookie
- Session-based or persistent cookie
Opting out of cookie: When a user wants to opt-out of the cookies on REX’s website, he or she can do so by opting out of individual cookie at a time. Although opting out of the website cookies, can bring in limitations arising in the website operations and functions. If you are interested in learning more about cookies, and instructions on how to manage them, you can visit reserveex.com.
EU GDPR: European Union General Data Protection Regulation:
The presence of EU GDPR can dictate the PDPA to upgrade of level of protection of the personal data for the applied applicants. In such cases, the strict requirements are to complied with fully.
Attention: Data Protection Committee
Address: ________ Street, ____________country, postcode: _______