This Privacy Policy should be read in conjunction with the Company’s Terms and Conditions
Digital Smart LLC values the privacy of our users and aims to protect their personal data. This Privacy Policy refers to all information that MangoTrade can collect about users while they use the service and visit our website (regardless of where it is visited). Here we explain privacy rights and how the laws protect the information about our Clients (as defined below) who are natural persons based on which that Clients can be identified (hereinafter the data) under the best practice of applicable data protection legislation. This Privacy Policy enters into force on January 1, 2019.
We aim to build the most reliable broker infrastructure globally. In this Privacy Policy, we will describe why you can trust us with your information and be confident that your data is safe.
We highly recommend you to read this Privacy Policy and all other policies that we may provide on specific circumstances when we are collecting or processing your personal data to stay fully informed about how and why we are using it.
Digital Smart LLC is a company registered in the County and having its registered address at First Floor, First St. Vincent Bank Ltd Building, James Street, P.O. Box 1574, Kingstown VC0100, St. Vincent and the Grenadines (hereinafter Digital Smart LLC or the Company). MangoTrade is the controller and responsible for the data of its Client disclosed to it in order to register for a Trading Account, Demo Account and/or to make use of any other services offered by MangoTrade through the www.MangoTrade.com website (hereinafter the Website) (this term shall at all times include Website’s desktop and mobile versions). MangoTrade exercises control over the processing of data in undertakings which may be affiliated to it.
This Privacy Policy addresses the privacy issues of Digital Smart LLC so when we mention ‘MangoTrade’, ‘Company’, ‘we’, ‘us’ or ‘our’ in this Privacy Policy, we are referring to the above-mentioned company or the company, which may be affiliated to it, responsible for collecting and/or processing your data when you use the Trading Platform through the Website, either for a Trading Account or a Demo Account (or their mobile/desktop versions) (hereinafter the Service(s)). In MangoTrade we respect your privacy and therefore we are committed to protect your data, which we collect, use and/or have access to.
The Company takes measures to implement advanced data protection policies and procedures and to update them from time to time for the purpose of safeguarding its Client’s data and the Client’s account. Your data is protected by the legal, administrative and technical measures that we take to ensure the privacy, integrity and accessibility of data. To prevent security incidents with your data, we use a mixed organizational and technical approach based on the results of annual risk assessment.
The Company shall not divulge any private information of its Clients and former Clients unless the Client approves in writing such disclosure or unless such disclosure is required under applicable law or is required in order to verify the Client’s identity or it is required for MangoTrade to perform its contractual obligations under any agreement concluded with the Client. The Clients’ information is processed only by the employees of the Company and/or employees of MangoTrade and/or trusted third parties which provide specific support services, dealing with the specific Client’s Accounts and necessary for the provision of our Services. All such information shall be stored on electronic and physical storage media according to applicable law.
We may collect, use, store and transfer different kinds of data about you which we have grouped together as follows:
Notwithstanding the above, if MangoTrade combines Aggregate Data with data in a way that the end result can in any way identify the data subject, MangoTrade shall treat such combined data as data which will be treated as per the provisions herein contained.
Processing of your data is carried out by MangoTrade following the principles of lawfulness, fairness, transparency, and always adhering to the intended purpose of data processing, the principle of data minimization, accuracy, limited data storage, data integrity, confidentiality and accountability.
In general, MangoTrade collects and process the Personal Data, for any of the following reasons:
The Client is responsible for updating any data provided to us in case of any change. Although we will strive to keep your data up to date and review and inspect any information provided by you, we may not be able to always do so without your help. The Client acknowledges that MangoTrade holds neither commitment nor responsibility to the Client due to any aforesaid review or inspection of information.
We use different methods to collect data from and about you including through:
Direct Interactions. You will provide to us your Identity, Contact and Financial Data online through the Website and/or by filling in online forms and/or by corresponding with us by emails or otherwise. Data may be submitted to us by you when you wish to:
We require to collect the above data in order that we are able to (i) provide our Services efficiently,(ii) to comply with our ongoing legal and regulatory obligations, including, inter alia, (a) to prevent fraud and money laundering acts and/ or (b) conduct the assessment of suitability and appropriateness test.
If you fail to provide the data when requested we may not be able to perform the contract we have or trying to enter into with you (for example, to provide you with our Services). In this case, we may have to cancel a Service you have with us but we will notify you if this is the case at the time. It is important that the data we hold about you is accurate and current. Please keep us informed if your data changes during your relationship with us.
Automated Technologies or Interactions. When using our Services, your device automatically transmits to us its technical characteristics. Locale (a set of parameters that determine regional settings of your interface, namely, residence country, time zone and the interface language) is used for the purpose of providing you with the best possible Service within our platform. Using the information about IP address, cookies files, information about browser and operating system used, the date and time of access to the site, and the requested pages addresses allows us to provide you with the optimal operation on our web application, mobile and/or desktop versions of our application and monitor your behaviour for the purpose of improving the efficiency and usability of our Services. We use web analytics tools to track performance of our website and marketing source of user by cookies in order to optimize our marketing costs and provide users with better experience. You may at any time request that we refrain from any such transmissions (to the degree this is possible and subject to any of our legal obligations) by sending your request to the DPO using our details in the OUR CONTACT DETAILS below. We will address your request within 30 business days.
About Cookies. A cookie is a small amount of data that often includes a unique identifier that is sent to your computer or device browser from a website’s computer and is stored on your device’s hard drive for tracking site usage. A website may send its own cookie to your browser if your browser’s preferences allow it, but, to protect your privacy, your browser only permits a website to access the cookies it has already sent to you, not the cookies sent to you by other websites. Many websites do this whenever a user visits their website in order to track online traffic flows. When you visit our Website, our system automatically collects information about your visit, such as your Technical Data, including inter alia to, your browser type, your IP address and the referring website. Cookies stored may determine the path the Client took on our site and used to anonymously identify repeat users of the website and what pages were most popular for Clients. However, the Company protects the Client’s privacy by not storing the Client’s names, personal details, emails, etc. Using cookies is an industry standard and is currently used by most major websites. Stored cookies allow the Website to be more user-friendly and efficient for Clients by allowing MangoTrade to learn what information is more valued by Clients versus what isn’t. You can set your browser not to save any cookies of this Website and you may also delete cookies automatically or manually. However, please note that by doing so you may not be able to use all the provided functions of our Website in full.
We process the aforementioned data in compliance with the applicable legislation as amended from time to time in order to (i) be able to perform our contractual obligations towards the Client and offer them the best possible service, (ii) provide our Services efficiently, (iii) comply with our legal and regulatory obligations, including, inter alia, (a) to prevent fraud and money laundering acts and/ or (b) conduct the assessment of suitability and appropriateness test, and (iv) protect our legitimate interests and your vital interests.
We process all data based on the following legal basis:
Indicatively we set out below, a description of all the ways we plan to use your data and which of the legal bases we rely on to do so. We have also identified what our legitimate interests are where appropriate. Note that we may process the data for more than one lawful ground depending on the specific purpose for which we are using your data.
PURPOSE ACTIVITY | TYPE OF DATA | LAWFUL BASIS FOR PROCESSING INCLUDING BASIS OF LEGITIMATE INTEREST |
1. To accept to register you as a Client 2. To notify you about changes to our Terms or Privacy Policy 3. To communicate with you and provide you with secure identifications, authentication and support Services 4. To confirm you are at age of majority as recognized and declared by the laws of your jurisdiction | 1. Identity Data 2. Profile Data 3. Contact Data 4. Data in KYC 5. Financial Data 6. Economic Profile Data | 1. Necessary to perform our contract with you 2. Necessary to comply with our legal obligations |
1. To perform our Scoring Processing under which a Client is scored on a scale basis with regard to the level of risk he is to 8XTRADE | 1. Banking Data 2. Economic Profile Data | 1. Necessary to perform our contract with you 2. Necessary to comply with our legal obligations |
1. To confirm the information provided by you under (a) above in relation to your location. 2. To comply with our legal obligations | 1. Location Data | 1. Necessary to perform our contract with you 2. Necessary to comply with our legal obligations |
1. To secure authentication, identification and support Services via social networks protocols and use the links to your accounts in social networks for these purposes. | 1. Technical Data | 1. Necessary to perform our contract with you 2. Necessary to comply with our legal obligations |
1. To process and deliver your transactions and requests (deposits; trades; withdrawals) 2. Manage payments, fees and charges; 3. To collect and recover money owed to us. | 1. Banking Data 2. Transaction Data | 1. Necessary to perform our contract with you 2. Necessary for our legitimate interest (recover charges owed to us, make a refund in case of breach of our contract) |
1. To administer and protect our business and Website (including troubleshooting, data analysis, testing, system maintenance, support, reporting and hosting of data) | 1. Identity Data 2. Contact Data 3. Technical Data | 1. Performance of our contract with you 2. Necessary to comply with our legal obligations 3. Necessary for our legitimate interests (take reasonable steps to confirm that you do not use any ways to manipulate our platform & for running our business, provision of administration and IT services, network security, to prevent fraud) |
1. To deliver relevant Website content and advertisements to you and measure or understand the effectiveness of the advertising we serve to you 2. To provide you with an optimal operation on our web application, mobile and/or desktop versions of our application and monitor your behavior for the purpose of improving the efficiency and usability of our Services. | 1. Identity Data 2. Contact Data 3. Profile Data 4. Usage Data 5. Technical Data 6. Marketing and Communication Data | 1. Necessary to perform our contract with you 2. Necessary for our legitimate interests (to study how customers use our products/Services, to develop them, to grow our business) |
1. To study how customers use our products/Services, to develop them, to grow our business and to inform our marketing strategy. 2. Statutory limitations | 1. Transaction Data | 1. Necessary for our legitimate interests (including statutory limitations provisions by applicable laws) |
1. To inform you about any of the following: – New Services and/or products we may offer; – Any new development and/or features of the current products/Services we offer | 1. Identity Data 2. Profile Data 3. Contact Data 4. Technical Data 5. Usage Data 6. Transactions 7. Marketing and Communication Data | 1. Necessary to perform our contract with you 2. Necessary for our legitimate interests (to study how customers use our products/Services, to develop our products/Services and grow our business) |
1. To send direct marketing of our Services to you always within the boundaries of our legitimate interests. 2. To send to you newsletters, push-messages and calls to keep you in touch with our new feature and new development of the current products/Services we offer, news and events and the efficient provision of the full scope of our Services. Please note that we will never use your data to communicate to you and/or promote any third party marketing material. | 1. Identity Data 2. Profile Data 3. Contact Data 4. Data that may be provided by you during your activity at the Website. 5. Marketing and Communication Data | 1. Necessary to perform our contract with you 2. Necessary for our legitimate interests (to provide effective and personalized customer Services to you and to update you in relation to our Services that are available to you. |
1. To allow us to provide you with the optimal operation on our Website, mobile and desktop versions of our application and monitor your behavior for the purpose of improving the efficiency and usability of our Services. 2. To use analytics tools to track performance of the Website and marketing source of our Clients in order to optimize our marketing costs and provide you with better experience. | 1. Location Data 2. Technical Data 3. Usage Data 4. Marketing and Communication Data | 1. Necessary to perform our contract with you 2. Necessary for our legitimate interests (to provide effective and personalized customer Services to you and to update you in relation to our Services that are available to you). |
1. To allow us to monitor and train our employees for your benefit 2. To safeguard your or our interests in case of a dispute 3. To take steps for fraud prevention 4. To improve the Services provided to you | 1. Audio Data | 1. Necessary to perform our contract with you 2. Necessary to comply with our legal obligations 3. Necessary for our legitimate interests |
1. To confirm that your annual income corresponds with your employment status 2. To confirm that you have no criminal history | 1. Sensitive Data | 1. Necessary to comply with our legal and regulatory obligations 2. Necessary to protect your vital interests |
If you are an existing Client of the Website where we have a legitimate interest in communicating with you, or if you have given us your consent we will collect and process your Personal Data to communicate with you in case of support and/or sending newsletters, push-messages and calls to keep you in touch with our new features, news and events and the efficient provision of the full scope of our services.
Our Website is not intended for children and we do not knowingly collect data relating to children. As we do not allow users under the age of 18 to use our Services, we need to obtain your birth date in order to confirm the Clients’ age checks.
If you do not want to receive any marketing newsletters or transmit your data to the third-parties for marketing purposes, you can configure your preferences. Such configuring can be done when (i) opening an account or (ii) when receiving such advertising content or (iii) by logging in and going to My Account > Personal Details. You may also send to the Company, at any time, an email to support@MangoTrade.com asking the Company to cease from sending such advertising content or sending your data to the third-parties for marketing purposes. The aforesaid mark removal and/or e-mail received by MangoTrade will oblige us to cease sending advertisement content to you within 7 (seven) business days.
We may share your data with the parties set out below for the purposes set out above.
We require MangoTrade and any third parties processing data on our behalf to respect your data and to treat it in accordance with the provisions of the General Data Protection Regulation and applicable local legislation as amended from time to time. We take all reasonable steps so that our third-party service providers do not use your personal data for their own purposes and only permit them to process your data for specific purposes and in accordance with our instructions.
We may disclose data that concerns you only if (i) we are legally required to do so; (ii) if required when you expressly order us to process a transaction or any other service and (iii) it is required for the provision of our Services under our contractual relationship and/or (iv) protection of our legitimate interests and applicable legislation as amended from time to time.
External Third Parties. Your data is shared with third party organisations/entities including but not limited to:
For the subsequent provision of targeted and informative advertising we may transmit your data to Facebook and Google. In addition, we may use Google services for the performance of data analytics. You may at any time choose to disable and/or restrict such transfers by notifying us at the contact details listed in the section OUR CONTACT DETAILS below.
For the recognition of the text specified in the documents in order to clarify the correctness of the Client’s data, which were previously personally indicated in the service profile, we use Google Vision and Jumio. For the comparison of the user’s first and last name contained in the recognized documents with the user’s first and last name, which were previously personally indicated in the service profile, we use Rosette API.
Data may be transferred to Comply Advantage, which provides us with screening service for the possible presence of the user in sanctions sheets, PEP sheets (Politically exposed person), media references for participation in criminal activities or presence in Interpol’s and other agencies search lists. This kind of user verification is one of the Company’s Regulator’s (CySec) requirements for fighting corruption and laundering of money, obtained as part of criminal activity.
We may transfer your contact data to Nexmo mass texting operator and Sendgrid only for the purpose of providing us with emailing operator services for efficient communication with our Clients.
We also cooperate with the following next payment systems to whom your data may be disclosed for the sole purpose of performing payments and any request for investigation of any of the Clients’ claims: Skrill, Neteller, CardPay, and Ecommpay.
In order to ensure safe storage of your data we locate our equipment in the Webzilla, IPTP and Rackspace datacenters.
Where reasonably possible, management shall ensure that third parties collecting, storing or processing personal information on behalf of the Company have:
Remedial action shall be taken in response to misuse or unauthorized disclosure of personal information by a third party collecting, storing or processing personal information on behalf of MangoTrade.
We store your data for as long as reasonably necessary to fulfil the purposes we collected it for, including for the purposes of satisfying any legal, regulatory, tax, accounting or reporting requirements. We may retain your Personal Data for a longer period in the event of a complaint or if we reasonably believe there is a prospect of litigation in respect to our relationship with you.
To determine the appropriate retention period for your data, we consider the amount, nature and sensitivity of the data, the potential risk of harm from unauthorised use or disclosure of your data, the purposes for which we process your data and whether we can achieve those purposes through other means, and the applicable legal, regulatory, tax, accounting and other requirements.
By law we have to keep your data (including call recordings) during our contractual relationship and for a minimum period of 5 (five) years from the date of termination of the Platform/Service used by the Client. The data storage period may be extended from 5 years to 7 years upon the request of the competent authority.
In general, all other data is stored for a period of 30 business days after the date of termination of the provision of our Services unless there is any other legal or regulatory reason to keep it.
At the expiration of the data retention period the data is erased by irreversible destruction and we also inform all third parties, to whom the data was transferred, regarding such erasure and request implementation of similar actions on their part.
We ask you to provide us with true, accurate and updated information on your identity and not misrepresent yourself to be another individual or legal entity. Any changes in your identifying details shall be notified to the Company immediately and in any case no later than the 7th day from the date of such changes. If your data is incorrect or incomplete, please contact our support services at the contact details listed in the section OUR CONTACT DETAILS below in order to change your data.
Under certain circumstances, you have rights in accordance with applicable legislation and our policies as amended from time to time. Some of the rights are rather complex and include exemptions, thus we strongly advise you to contact us (at the contact details listed in the section OUR CONTACT DETAILS below) and/or seek guidance from the regulatory authorities for a full explanation of these rights. You can find a summary of your rights below in this section.
If you want to exercise any of your rights mentioned above and/or obtain more information regarding your rights and/or our policies and procedures please contact us through the points of contact listed in the Section OUR CONTACT DETAILS below. Please also provide us with relevant information to take care of your request, including your full name and email address so that we can identify you. We will respond to your request without undue delay.
We may need to request specific information from you to help us confirm your identity and ensure your right to access your data (or to exercise any of your other rights). This is a security measure to ensure that Personal Data is not disclosed to any person who has no right to receive it. We may also contact you to ask you further information in relation to your request to speed up our response.
We try to response to all legitimate requests within one month. Occasionally it could take longer than a month if your request is particularly complex or you have made a number of requests. In this case, we will notify you and keep you updated.
We have put in place appropriate security measures to prevent your data from being accidentally lost, used or accessed in an unauthorised way, altered or disclosed. In addition, we limit access to your data to those employees, agents, contractors and other third parties who have a business need to know. They will only process your data on our instructions and they are subject to a duty of confidentiality.
We have put in place procedures to deal with any suspected data breach and will notify you and the competent regulator of a breach where we are legally required to do so.
We have put in place procedures to deal with any suspected data breach and will notify you and the competent regulator of a breach where we are legally required to do so.
Your help is always valuable in ensuring that your data is kept safe. Upon registration to the Website (or its mobile version), the Client will be asked to choose a username and password to be used by the Client on each future login and for the performance of transactions and use of the Company’s Services. In order to protect the Client’s privacy and operation with the Website sharing registration details (including without limitation, username and password) by the Client with other persons or business entities is strictly prohibited. The Company shall not be held responsible for any damage or loss caused to the Client due to improper use (including prohibited and unprotected use) or storage of such username and password, including any such use made by a third party, and whether or not known to or authorized by the Client.
Any use of the Website with the Client’s username and password is Client’s sole responsibility. The Company shall not be held responsible for any such use, including for validation that Client is actually operating in his/her account. The Client is obliged to forthwith notify the Company’s client service of any suspicion for unauthorized use of the Client’s account. You may contact us at any time through the points of contact listed in the Section OUR CONTACT DETAILS below.
Encryption of your data in transit. Encryption provides a high level of security and privacy for your data. When you enter your data in our platform we use strong encryption technologies (such as Transport Layer Security) to protect your data during transmission from your devices to our servers.
For providing more trust and security we use digital EV (Extended Validation) Certificates issued by trusted Certificate Authorities. You can see the ‘Green Bar’ in the supported browser versions which confirms what all transmitted data is secure.
Protection of your data in our infrastructure. We make it a priority to develop Services that are secure “by default”. The “default” security of our Services means that every new Services and features are designed with strict security requirements in mind before we even begin development. This is the key to guaranteed protection and privacy of all data that our Services handle and store, once the Service or new feature is released.
For secure your data we use the pseudonymization which allows most of our Services to operate without using your actual data. Instead of that, our Services use a system ID that can’t be traced back to identify you.
The Company is always vigilant about the security of your data stored in our infrastructure. Because of that we locate all our equipment which used for your data processing in secure data centres. Network access to this equipment is isolated from the Internet. We use network segmentation for isolation of Services which need different level of security from each other. In addition, we restrict logical access to your data for our employees on “need to know” basis. So, only personnel, who really requires access to your data for the purpose of providing you with our best service, will have access to it.
Threats protection. Our Company is highly knowledgeable about modern threats to data security and privacy, and we are well prepared to combat them. All events that occur in our infrastructure are continuously monitored, analysed and responded, which allows us to ensure proper protection of your data, keeping it safe from threats, vulnerabilities, and the effects of malware.
In the event of a failure that affects the accessibility of your data, we have data backup and recovery procedures in place that will us help to restore your data in short time. For guarantee the quick recovery we use high availability mode enabled for most critical databases which allows us to minimize downtime.
Employee awareness of data security. Our employees may handle your data in order to provide you with the first-class Service. To guarantee the security and confidentiality of your data, we monitor all employees’ actions with access to your data in our systems and grant access strictly on a “need to know” basis: only employees who need access will receive it. We hold regular training sessions to make sure that each employee understands the principles that the Company follows to achieve robust data security and privacy.
If you choose not to give your personal information. In the context of our business relationship we may need to collect data by law, or under the terms of a contract we have with you. Without this data, we are, in principle, not in a position to close or execute a contract with you.
If you choose not to give us this data, it may delay or prevent us from meeting our obligations. It may also mean that we cannot perform Services needed to run your accounts or policies.
To what extent we carry automated decision-making and profiling. In establishing and carrying out a business relationship, we generally do not use automated decision-making. If we use this procedure in individual cases, we will inform you of this separately. In some cases, we may proceed with profiling in order to evaluate certain personal aspects. We shall inform you accordingly in case we perform any profiling. In general, any data collection that is optional would be made clear at the point of collection.
Who is responsible for the data processing and who you can contact.
The entity responsible for your data processing is Digital Smart LLC and you can contact us using the details set out below
First Floor, First St. Vincent Bank Ltd Building, James Street, P.O. Box 1574, Kingstown VC0100, St. Vincent and the Grenadines
Data Protection Officer. We have appointed a data protection officer (hereinafter the ‘DPO’) who is responsible for overseeing questions in relation to this Privacy Policy. If you have any questions about this Privacy Policy, including requests relating to the data, please contact the DPO using the details set out below:
First Floor, First St. Vincent Bank Ltd Building, James Street, P.O. Box 1574, Kingstown VC0100, St. Vincent and the Grenadines, support@mangotrade.com
If you have any questions or want more details about how we use your data, you may contact us at the above contact details and we will be happy to provide you with further details.
We may provide links to the third party websites in our Website. These linked websites are not under our control, and we, therefore, cannot accept responsibility or liability for the conduct of the third parties linked to our websites, including without limitation to the collection or disclosure of your data. Before disclosing your data on any other website, we encourage you to examine the terms and conditions of using that website and its privacy policies.
We reserve the right, at our discretion, to add, modify or remove portions of this Privacy Policy in the future to ensure that the information herein provides relevant and adequate information about our collecting and processing of your data.
This Privacy Policy may be supplemented by other information received from MangoTrade and other terms and conditions applicable to the Website or which you have agreed to as part of your interaction with us.
We will inform you about any updates to this Privacy Policy through e-mail, a notice through your Trading Account, the Website and/or any other communication method you have provided to us. Your comments and feedback are always welcome. You may contact us at any time through the points of contact listed in the Section OUR CONTACT DETAILS above.
© MangoTrade 2023. All rights reserved.
DIGITAL SMART LLC
Address: First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines
Mailing Address: P.O. Box 1574, VC0100, St. Vincent and the Grenadines
Company business number: 898 LLC 2021