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This is the Privacy Policy (hereafter referred to as the “Policy”) of NAGA Markets Europe Ltd, a company incorporated in Cyprus with registration number HE 251168 and located at Ariadnis 7, Mouttayiaka, 4531 Limassol, Cyprus (hereafter referred to as “NAGA”, and/or the “Company” and/or “we” and/or “us”).
Your privacy is of utmost importance to us, and it is our priority to safeguard and respect the confidentiality of your information, your privacy, and your rights. By entrusting us with your information, we would like to assure you of our commitment to keep such information private. We have taken measurable steps to protect the confidentiality, security and integrity of your personal information as illustrated herein.
This Policy sets out how NAGA collects and processes your personal data via using NAGA’s official website www.naga.com, including any data you may provide through this website when you obtain our service as per the Client Agreement. Additionally, it provides information on how you can exercise your rights with respect to the processing of your personal data. This Policy applies to the processing activities performed by NAGA to the personal data of its clients and potential clients, website visitors and employees as in order to provide our products and services to clients, performing our daily business operations, we need to collect from them personal information. This website is not intended for children and we do not knowingly collect data relating to children.
You are strongly advised to read this Policy carefully, as it is part of the Company’s Terms and Conditions, Terms of Use and/or Business as applicable and shows how we comply with the General Data Protection Regulation of the European Union (the “GDPR”) and other related laws and regulations.
NAGA Markets Europe Ltd is the data controller and therefore responsible for your personal data and the appointed Data Protection Officer (“DPO”) of the Company is responsible for overseeing questions relating to this Policy and any other related matters.
Should you have any questions about this Privacy Policy, or requests on how to exercise your legal rights, please use the contact details below:
The Company reserves the right to amend this document from time to time and we will notify you appropriately and accordingly. We do however encourage you to review this statement periodically to be always informed about how we are processing and protecting your personal information and contact our DPO at dpo@nagamarkets.com if you have any concerns.
The Company reserves the right to amend this document from time to time and we will notify you appropriately and accordingly. We do however encourage you to review this statement periodically to be always informed about how we are processing and protecting your personal information and contact our DPO at dpo@nagamarkets.com if you have any concerns.
The below list includes the type of personal data we may need from you:
The Company may also process sensitive personal information such as information about criminal convictions and offences for employment purposes to the extent permitted by laws and required for the performance of our legal obligations.
The Company may collect your personal data via different methods and therefore, process personal data you provide us directly and/or collect information as a result of automated technologies, interactions, and/or from third parties via publicly available sources.
Specifically, information you provide to us directly may include your identity, contact and financial information by registering for an account with NAGA, when you participate in any interactive features of the services we provide, when you fill out a form we provide you with, when you participate in any promotion or contest powered by NAGA, when you apply for a job, communicate with us, request customer support or otherwise contact us.
As a result of using our website we may automatically collect technical data about your equipment, browsing actions and patterns. As per our Cookie Policy, we collect this personal data by using cookies, and other similar technologies. We may also receive Technical Data about you if you visit other websites employing our cookies.
Finally, personal data may be such as technical data from analytics providers such as Google based outside of EU, contact, financial and transaction data from providers of payment services based inside the EU and identity and contact data from individual and publicly availably sources, such as Registrar of Companies based inside EU and Thomson Reuters based outside of EU.
Where is required to disclose your personal data to third parties for the purposes of performing our legal obligations towards you, we ensure that the relevant provisions of GDPR are respected. Specifically, we assess these third parties in respect of their compliance with the data protection laws and regulations and ensure that required contractual agreements are concluded. Respectively, we ensure that they are committed to respect the security of your information and treat it in accordance with relevant laws and regulations. Finally, we do not allow our third-party service providers to use your personal data for their own purposes and only permit them to process your personal data for specified purposes and in accordance with our instructions.
Some of our external third parties are based outside the European Economic Area (“EEA”) so their processing of your personal data will involve a transfer of data outside the EEA. Please be informed that, whenever we transfer your personal data out of the EEA, we ensure a similar degree of protection is afforded to it by ensuring at least one of the following safeguards is implemented:
Should you need further clarifications on this, please contact our DPO at dpo@nagamarkets.com.
The Company may use, store, process and handle your personal data in various ways and for that rely to specific legal bases. Please be informed however, that we may process your personal data for more than one lawful ground and depending on the specific purpose for which we will use them. The purposes for which we may process your personal data are exhibited below in more detail.
THE FRAMEWORK OF THE CLIENT AGREEMENT: we process personal data to provide our services and products, as well as information regarding these services and products, based on the contractual relationship with you. We need, therefore, to use your personal information to perform our services and comply with our obligations to you. In this framework, we need to verify your identity to accept you as our client, and we will need to use those personal details to effectively manage your trading account with us.
COMPLIANCE WITH LAWS AND REGULATIONS: numerous laws to which we are subject, as well as specific statutory requirements (such as anti-money laundering laws, financial services laws, corporation laws, privacy laws and tax laws) dictate that we hold and process personal data. Such obligations and requirements impose on us necessary personal data storage and processing activities. It is mandatory, for example, to store personal data, for record- keeping purposes. In general, complying with applicable laws, court orders, other judicial process, or the requirements of any applicable regulatory authorities may require the processing of personal data by NAGA Markets. Our initiating legal claims and preparing our defence in litigation procedures and processing personal data for risk management purposes. Further, we may need to use personal information collected from you to investigate issues or to settle disputes with you because it is in our legitimate interests to ensure that issues and disputes get investigated and resolved in a timely and efficient manner.
CASES YOU HAVE CONSENTED TO: our storage and use of your personal data are based on your consent provided by opening an account with NAGA. Please be informed that, if we rely on your consent as our legal basis for holding and processing your personal information, you have the right to revoke consent at any time, by contacting our DPO at dpo@nagamarkets.com. However, any processing of personal data that took place prior to the receipt of your revocation will not be affected. If you have consented to be contacted by us for marketing purposes, we may use your personal information to send you marketing communications by email or phone or other agreed forms to ensure that you are kept up to date with our latest products and services. We will not disclose your information to any outside parties for them to directly market to you.
TO ASSESS THE APPROPRIATENESS OF OUR SERVICES TO THE RECIPIENTS: your personal data, which includes your knowledge and experience in the financial products that we offer, is used to form your economic profile and confirm our assessment of the degree to which such financial products are appropriate to you.
TO IMPROVE OUR PRODUCTS AND SERVICES: from time to time, we may send you surveys as part of our customer feedback process. It is in our legitimate interest to ask for such feedback to try to ensure that we provide our services and products at the highest standards. We may use the personal information provided by you through such client surveys to help us improve our products and services.
LEGAL NOTIFICATIONS: laws and regulations occasionally require that we advise you of certain changes to products or services or laws. We may need to inform you of changes to the terms or the features of our products or services and doing so implies that we will maintain and use your personal data. Including but not limited to where required by law or a court order by a competent Court, our regulator Cyprus Securities and Exchange Commission or any other regulatory authority having control or jurisdiction over us or you or our associates or in whose territory we have clients or service providers and as applicable. If to provide services to you the Company discloses your personal information to business parties such as card or other payment processing companies or banks, such third parties may store your information to comply with their own legal and other obligations. The Company will notify the third party regarding the confidential nature of any such information.
The Company may use, store, process and handle your personal data in various ways and for that rely to specific legal bases. Please be informed however, that we may process your personal data for more than one lawful ground and depending on the specific purpose for which we will use them. The purposes for which we may process your personal data are exhibited below in more detail.
The Company has adopted practice controls and security measures to ensure high level of information security and compliance with the relevant provisions of GDPR. Indeed, our administrative, physical, and technical safeguards that are implemented and maintained, protect your personal data from accidental or unlawful destruction, loss, alteration, unauthorized disclosure of, or access to personal data transmitted, sorted, or otherwise processed. Employees are authorized to access personal data only to the extent necessary to serve the applicable legitimate purposes for which the personal data are processed by the Company and to perform their job.
Details of these measures may be available upon request at dpo@nagamarkets.com and to the discretion of the DPO.
The Company is required to assess your knowledge and experience, your financial situation and investment objectives and your risk profile once per calendar year in accordance with relevant laws and regulations. Specifically, this action is in accordance with the Directive 2014/65/EU MIFID, Law 87(i)/2017 and Circular 168 and 028 of Cyprus Securities and Exchange Commission. The tools used on the above include the Appropriate Test and the Suitability Test as further discussed next.
The Appropriateness Test occurs once you register as a client at NAGA where we need to check and ensure that you are suitable for the provision of services and products we offer. This test is regarding your knowledge, financial background and experience with financial services and based on the scoring you receive, you will be informed whether you are eligible to receive our services and become our client and the maximum level of leverage you are eligible to. This ensures that our services and products are suitable to you and to the best of our interest.
The Suitability Test takes place for the purposes of our investment program and for that we will assess your financial situation, risk profile and risk tolerance as an investor and that the investment program is suitable for you. Based on your scoring, we will be able to assess your investment objectives, if you are able financially to bear any related investment risks consistent with your investment objectives.
We ensure you that NAGA takes all the technical and operational measures to correct inaccuracies and minimize the risk of errors, to prevent any discrimination and to secure personal data of the client. The scorings above are monitored by the Compliance department of NAGA and should you need any clarification, please contact us at compliance@nagamarkets.com.
The Company will record, monitor and process any telephone conversations and/or electronic communications between us such as through fax, email, social media, electronic message between you and NAGA. All such communications are recorded and/or monitored and/or processed by us, including but not limited to any telephone conversations and/or electronic communications that result or may result in transactions or client order services even if those conversations or communications do not result in the conclusion of such transactions. The content of relevant in person conversations and/or communications with you may be recorded by minutes or notes. Any such records shall be provided to you upon request at the same language as the one used to provide investment services to you.
NAGA holds your personal information on secure servers and appropriate procedures and measures are in place to ensure that your personal data is safeguarded. We will hold your personal information while we have business relationship with you and as permitted by relevant laws and regulations. The retention of your personal data is limited for the purposes we collected it for and for satisfying any legal, accounting, or reporting requirements. To determine the appropriate retention period for personal data, in accordance with the provisions of GDPR, we consider various factors including, but not limited to, the amount, nature, and sensitivity of the personal data, and the potential risk of harm from unauthorised use or disclosure of your personal data.
You must be aware that GDPR is recognising you as a “Data subject” and you have certain rights which you can exercise freely and to your own discretion, as per below:
If you wish to exercise any of the above, you must send an email to the DPO of NAGA at dpo@nagamarkets.com and your request will be further handled. Please note that as per our procedures, you will be asked to complete our Data Subject Request form in order to verify your request.
Please be informed the below:
We have put in place appropriate procedures in order to deal with any breach of personal data and will notify you and any applicable regulator of a breach where we are legally required to do so.
If you require further information on how we deal with a data breach, please our DPO at dpo@nagamarkets.com.
LAST UPDATED ON: April 2020
