Security and Privacy
We recognise the importance of protecting your personal and financial information.
All information we obtain about you assists us in servicing you and your account. We know you may be concerned about what we do with this information.
We have outlined for you our privacy practices as follows:
Use of Information
We operate in full compliance with the General Data Protection Regulation (GDPR) and other applicable Data Protection laws. These regulatory measures place obligations on users of personal data like us. They also lay down the principles for fair and lawful processing of all the information we acquire.
It is our commitment to safeguard your privacy online at all times. We only use your personal information to help us service your account, to improve our services to you, and to provide you with products you have requested. We do not sell your personal information to third parties, but we may provide it to payment providers to facilitate transactions on your sales or purchases.
When you use Binary Shop, we may create an account for you based on the information you provide us. We use this information primarily to validate you as the legitimate account owner and to process your sales and/or purchases.
We collect from you all personal and financial data directly relating to you when you fill in our account opening form or details to affect a purchase. In all instances, you have either a legal or a contractual obligation to provide us with the information. If such information is not provided, we will be unable to provide you with our services. Seller account sign-ups are conducted via third-party applications.
We reserve the right to request further information from you whenever deemed appropriate under the circumstances. For example, we may ask you to send us additional acceptable documents to confirm the authenticity of your account details or activity.
We hold all personal data we collect from you with due diligence and only process them for purposes as required or allowed by law. This includes the process of obtaining and sharing of certain information with third parties for credit or identity checks to comply with legal and regulatory obligations in certain cases, we may process your data to fulfill our contractual obligations with you.
You may update your personal information at any time from your account. It is your responsibility to ensure that Binary Shop is promptly and continually informed of any change in your personal information.
Cookies and Device Information
This website does not collect personally identifying information about you except when you specifically and knowingly provide it. You may use the technology called "cookies" to provide tailored information from a website.
A cookie is an element of data that a website can send to your browser, which may then store it on your system. You can set your browser to notify you when you receive a cookie, giving you the option whether to accept or decline it. If you do not accept the cookie, then you will need to input your login ID and password again at every form to log into the system. You are advised to choose this option if you have concerns about the security of your personal browser or PC.
Please note that our website generates log files that record the IP addresses of accesses to your account, login attempts, and device information such as the manufacturer, model, operating system, and browser. This information is gathered for the sole purpose of assisting in the unlikely event of a need to investigate access to your account by unauthorised users. Additionally, we may verify certain information you provide us in the account opening form or during the service with third-party information providers.
By using or interacting with our website, you are giving permission to the use of the Google Analytics User ID Feature which allows Google to capture your anonymised user ID. When this feature is enabled, no other personally identifiable information other than your user ID is shared with or disclosed to Google.
Transfer of Data
We may also transfer relevant personal and financial data to any company within the Deriv Group of companies. This includes any of our business associates or payment providers within or outside of the EEA, including countries which might not offer an equivalent level of protection of personal data. In all instances, we place a contractual obligation on such third parties to offer the same level of rights and protection as stipulated in the GDPR.
You also have the right to request copies of any personal information you provided us and to request us to transmit such information to other service providers.
When you open an account with us, we will request your consent for the distribution of marketing materials to the e-mail address you provide us upon sign-up.
Right to Object
You have the right to object to the direct distribution of marketing materials. This can be done by either not providing your consent to any marketing material before the service is rendered or revoking it at any point during the service. In any case, we will refrain from distributing marketing materials to you.
Access to Personal Data
Access to your personal data is strictly prohibited with the exception of key Binary Shop personnel and only as needed in the performance of their duties.
If Binary Shop is legally required to disclose your personal or financial information by law, regulation, or pursuant to the order of a court of competent jurisdiction or a governmental agency, we will promptly notify you to give you the opportunity to seek protection for the information as it deems appropriate. We will do so unless legally prohibited. Such required disclosure shall not be interpreted as a breach of this Terms and Conditions Agreement.
You also have the right to request us to copy, modify, or remove your personal information as long as such actions do not breach any legal or regulatory obligations we may have.
If you choose to close your Binary.com account, your data will be kept only for as long as necessary for us to meet our legal and regulatory obligations on data retention. We will delete your data once the applicable retention period expires.
We are committed to making sure your personal data and transactions are secure:
- Your passwords are hashed so that not even Binary Shop staff can read them. This is the reason why we cannot retrieve your password and have to issue you with a new one to your email address if you cannot recall it.
- Our information security policies are based on industry best practices in access control and business continuity.
- We use identity verification services and real-time fraud detection measures to help protect you from unauthorised access to your account. We also monitor account activity for signs of unusual activity that might indicate fraud and work with collection and law-enforcement agencies to address fraud issues.
Our website contains links to other websites and may contain banner or icon advertisements related to third-party websites. These websites and their advertisements may submit cookies to your web browser which is beyond our control. We are not responsible for the privacy practices or the content of such websites. We encourage you to read the privacy policies of these websites because their practices may differ from ours.
Notification of Changes
You also have the right to request us to inform you about the personal data that we process about you and to provide its correction where necessary.
Data Protection Officer
Our Data Protection Officer can be contacted at email@example.com.
For full contact details of Binary.com, kindly check our Contact Us page.
If you have a complaint regarding our data processing practices, you may formally submit a complaint to the Information and Data Protection Commissioner (Malta) on the entity’s website.