FXCM
Currency Trading from one of the World's Largest Forex Brokers

Privacy Policy

Security and Disclosure

This Privacy Policy explains how FXCM Australia Limited collects personal information and then maintains, uses and discloses that information. It also provides some detail about Client's rights.

  1. In accordance with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, FXCM has an obligation to collect information and verify the identity of its clients. This information is referred to as Know Your Client information or KYC information. FXCM will carry out its customer identification and verification procedures in accordance with the Privacy Act 1988. FXCM is bound by, and committed to the terms of the Privacy Act 1988 and the National Privacy Principles forming part of that Act. A summary of the National Privacy Principles is available by contacting our office

  2. When submitting a Client's application form to open an account with FXCM, the Client will be providing entities within FXCM Holdings, LLC ("FXCM") with the Client's personal information. Personal information is any information about the Client, that identifies the Client or by which the Client's identity can reasonably be ascertained.

    FXCM uses the personal information it holds in order to provide its clients with the services that they request. FXCM will not use or disclose personal information collected by us for any purpose other than:

    1. the purposes for which it was provided or secondary related purposes in circumstances where you would reasonably expect such use or disclosure; or

    2. where you have consented to such disclosure; or

    3. where the National Privacy Principles authorise the use or disclosure where required or authorised under law, in circumstances relating to public health and safety and in connection with certain operations by or on behalf of an enforcement body.

    FXCM will also maintain records of all transactions and activities on the Client's account(s), including, but not limited to, details of liquidations on the Client's account(s). FXCM may also collect information about the Client from publicly available sources such as company registers. The Client's personal information will be held by FXCM strictly in accordance with the National Privacy Principles in the Privacy Act 1988. At any time, upon request, the Client may gain access to the information FXCM holds about the Client. FXCM may also record telephone conversations between the Client and persons working for FXCM. Such recordings, or transcripts from such recordings, may be used to resolve any dispute between the Client and FXCM and with a view to satisfying FXCM's statutory obligations including requests from regulators and other government bodies. Recordings or transcripts made by FXCM of the Client's telephone conversations may be destroyed under FXCM's normal practice, which is to destroy them usually, but not necessarily, 2 calendar months after the date of the conversation. FXCM will also collect and hold information about the Client when the Client completes an online application or other type of form or operates and deals on the Client's Account through FXCM's websites.

  3. FXCM has requested the information required in the application forms to enable FXCM to determine whether it will deal with the Client using the FXCM Trading Station. That information, together with the information collected and maintained by FXCM during the course of its relationship with the Client, is required to keep the Client updated whilst the Client is a client in relation to matters such as the Client's Margin obligations and the funds in the Client's account(s) and possibly other activities of FXCM. FXCM also requires the information to manage and administer the products and services provided to the Client. FXCM may also be required to provide the Client's personal information to ASIC and other regulatory and government bodies from time to time in Australia and overseas. FXCM may also disclose the Client's personal information to: (i) financial institutions and other similar organisations in connection with its corporate activities or that are nominated by the Client; (ii) the Financial Ombudsman Service Limited ("FOS"), courts, arbitrators and other dispute resolution bodies; (iii) external service providers and professional advisers (which may be located overseas) that provide services to FXCM; (iv) any actual or potential delegate or assignee as referred to in the Terms of Business; (v) any other person or entity as required or authorised by law; and (vi) any organisation which the Client request FXCM to or any persons acting on the Client's behalf, including the Client's financial adviser, broker, solicitor or accountant.

  4. FXCM may use the Client's personal information for: (i) marketing FXCM products and services to the Client; (ii) developing an understanding of the products and services the Client may be interested in obtaining from FXCM; (iii) any other purpose the Client has consented to; and (iv) any use which is required or authorised by law.

  5. FXCM takes all reasonable steps to protect the Client's personal information from misuse, loss, unauthorised access, modification or disclosure.

  6. The Client need not give FXCM any of the personal information about the Client requested in the application forms. However, without that information FXCM may not be able to open an account for the Client. Should the Client have any questions or complaints about the Client's privacy, the Client should contact FXCM. If a complaint is not resolved by FXCM to the Client's satisfaction, the Client may complain to the Privacy Commissioner who may investigate your complaint further.

  7. The Client can gain access to any information FXCM holds about the Client by calling +1 212 897 7660, or electronically mailing compliance@fxcm.com. FXCM will process the Client's request usually within 14 days. If the Client's request is complex, more time may be needed in which case we will advise the Client of the extra time required. There is no fee for requesting access to the Client's information, although FXCM may charge the Client the reasonable cost of processing the Client's request. In some circumstances the law may allow FXCM to deny the Client access. In such a case FXCM will explain to the Client the reason for refusing access.

  8. FXCM requires that the Client to promptly notify FXCM of any changes to the personal information that FXCM holds about the Client. This will ensure that the Client's personal information held by FXCM is up to date and enable FXCM to keep the Client informed of the continuing circumstances of the Client's account(s), the Client's Margin obligations and the Client's trading activities. The Client may ask FXCM at any time to correct personal information held by FXCM about the Client which the Client believes is inaccurate. Should FXCM disagree with the Client as to the accuracy of the information, the Client may request that FXCM attach a statement to that information noting that the Client considers it inaccurate or incomplete.