The collection of personal data (your full name, address, IP address, cookies, phone number, email, date of birth, country of residence and citizenship, ID details and other analytical data) is required for Compliance and Regulatory purposes when you submit a request via our online applications. This information is required in order for us to be able to communicate with you, and, as required by law, to identify who you are in accordance with Anti Money Laundering Regulations.
We obtain this information through your use of our services or other dealings with Vemarkets including through any of our websites, apps, the account opening applications, demo sign up, webinar sign up, subscribing to news updates and from information provided in the course of ongoing customer communication.
This information is held by us on servers. In addition, when you interact with our services, our servers keep an activity log unique to you that collects certain administrative and traffic information including: source IP address, time of access, date of access, web page(s) visited, language used, software crash reports and type of browser used. This information is essential for the provision and quality of the services. We do not collect personal information about you while using the services without your knowledge.
We will contact you by email, telephone or mail to either:
We only use your data in accordance with the Financial Conduct Authority Rules and Data Protection Laws (including the General Data Protection Regulation in force 25th May 2018). This means that data we collect will only be:
Vemarkets may use information for any one or more of the following purposes:
You consent to Vemarkets using your personal information for the above-stated purposes. You also consent to Vemarkets transferring your personal information outside the European Economic Area where this is necessary for Vemarkets to fulfil its contractual obligations to you. Please note that Vemarkets only transfers personal information to organisations outside the EEA if Vemarkets has assessed the organisation as having appropriate controls and safeguards in place to protect your personal data.
Vemarkets has to comply with money laundering regulations, which requires us to verify our clients’ identity and residential address. We therefore request clients to provide us with a scanned (or photographed) copy of your verification documents which will be retained on file for the duration of our relationship with each client, and continue for 5 years after that relationship has ceased. Alternatively, we may use a credit reference agency to verify your identity. Any such search will remain confidential and will not be seen or used by lenders to assess your ability to obtain credit.
In addition to client verification, we are also required to understand our clients’ citizenship status. In line with new EU regulations in force since January 2018 (MiFID II) Fortrade is required to report all clients’ trading transactions. As such, we are required to obtain information regarding your citizenship. The information that we require depends on your country of citizenship (nationality) and may include your passport number, national identity number, national insurance number etc.
Vemarkets does not sell, lease or disclose personal data to third party affiliates or non-affiliates, except for the reasons described below:
Vemarkets reserves the right to change or amend this privacy notice from time to time to take into consideration changes in:
We respect the privacy of any user that accesses our website(s). Safeguarding the privacy of your information is important to us, whether you interact with us personally, by phone, by mail, over the internet or any other electronic medium. We hold personal information in a combination of secure computer storage facilities and paper-based files and other records, and take steps to protect the personal information we hold from misuse, loss, unauthorised access, modification or disclosure. When we consider that personal information is no longer needed, we will remove any details that will identify you or we will securely destroy the records. However, we may need to maintain records for a significant period of time. For example, we are subject to certain anti-money laundering laws, namely The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, which require us to retain certain files for a minimum period of five years after our business relationship with you has ended. These include:
You can unsubscribe from marketing emails by simply clicking on the unsubscribe link placed in the end of every email communication we send.
You may withdraw consent from us to process and retain your personal data until you have made a transaction with us. However, as a financial institution regulated in the Montenegro, we are obliged to retain your personal data including evidence of your transactions with us, for a period of at least 5 years (but not exceeding 10). Please refer to the section “How long do we store personal information?” for more information on this.
Under Article 15 of the General Data Protection Regulation, you have the right to obtain confirmation from Fortrade information relating to the processing of your personal data, including the right to request a copy of all data processed about yourself. To make a request, please write to us, verifying your identity and specifying what information you require. We may charge a fee to cover the cost of verifying the application and locating, retrieving, reviewing and copying any material requested. We will acknowledge your request and respond to it within 40 days of receipt of your application and any applicable fee.
Vemarkets reserves the right to disclose personal information to non-affiliated third parties for regulatory or reporting purposes as required by law, to protect our rights or property and when Vemarkets believes that disclosure is necessary to protect our rights and/or to comply with any judicial and/or other proceedings, court order, legal process served or pursuant to governmental, intergovernmental and/or other regulatory bodies. Vemarkets shall not be liable for misuse or loss of personal information and/or otherwise on Vemarkets website(s) that Vemarkets does not have access to or control over. Vemarkets will not be liable for unlawful or unauthorised use of your personal information due to misuse or misplacement of your passwords, negligent or malicious intervention and/or otherwise.