Open Trade Privacy Policy
This Privacy Policy describes our practices regarding the collection, storage, use, disclosure, and other processing of Personal Data, including how such data may be shared by us, any rights you may have, and how you can contact us about our privacy practices.
1 Introduction
Thank you for visiting Open Trade. Open Trade Digital Ltd. (3-102-946277 S.R.L.), as a controller, provides this Privacy Policy to describe our practices regarding the collection, storage, use, disclosure, and other processing of Personal Data.
By visiting, accessing, or using the Open Trade platform and its associated application program interfaces or mobile applications (the "Open Trade Platform"), you:
- (a) read and understand this Privacy Policy;
- (b) accept this Privacy Policy; and
- (c) consent to the policies and practices outlined in this Privacy Policy.
If you do not wish your Personal Data to be used in the ways described in this Privacy Policy, you shall not use the Open Trade Platform, its technologies, products and/or functionalities (collectively, the "Services").
2 Controller and Contact Details
Open Trade Digital Ltd. acts as a controller of your Personal Data where we determine how and why Personal Data can be used, and is the primary controller of your Personal Data. This Privacy Policy does not apply if we serve as a processor or service provider for another controller (including our customers). This Privacy Policy does not apply to job applicants or Open Trade employees.
| Relevant Entity | Contact Details |
|---|---|
| Open Trade Digital Ltd. (3-102-946277 S.R.L.) |
Email: [email protected] Address: Forum One, Pozos, Building G, First Floor, Santa Ana, 10903, Costa Rica |
3 Definitions
| Data Protection Officer or Privacy Officer | means the Open Trade Data Protection and/or Privacy Officer responsible for data protection who may be contacted at [email protected]. |
| Personal Data | means any information relating to an identified natural person (a "Data Subject"), or one who can be identified directly or indirectly by way of linking data, using identifiers such as name, voice, picture, identification number, online identifier, geographic location, or one or more special features that express the physical, psychological, economic, cultural or social identity of such person. |
| Sensitive Information | means any data that directly or indirectly reveals a natural person's family, racial origin, political or philosophical opinions, religious beliefs, criminal records, biometric data, or any data related to the health of such person. |
4 What Personal Data We Collect
Open Trade collects, processes, and stores Personal Data via your use of the Services or where you have given your consent.
We collect information you provide during the Open Trade platform onboarding process, which may be a completed, incomplete, or abandoned process. We also collect Personal Data when you communicate with us through customer support, subscribe to marketing communications, correspond with us by phone, email, or other communication channels, or when you conduct a transaction on the Open Trade Platform.
We may actively or automatically collect, use, store, or transfer your Personal Data, which may include, without limitation, the following:
- Personal identification information such as name, email, phone number, nationality, date of birth, address, and government identification information;
- Institutional details such as corporate legal name, corporate registration information, government identification number, proof of identity and legal existence, address, business description, and beneficial owner information;
- Commercial information such as data related to transactions conducted on the Open Trade Platform;
- Financial information such as bank account information and wallet addresses;
- Correspondence information such as communication with our Customer Support team and response to user surveys;
- Regulatory information such as information required by regulatory agencies and consumer protection agencies;
- Device identifiers such as device fingerprint data, IP address, MAC number, geolocation information, signals relating to user behavior and device interactions, unique device identifiers and session information for the devices used to access the Open Trade Platform.
We may also collect Personal Data about you from third parties, such as electronic verification services, referrers, marketing agencies, or partner exchanges. If so, we will take reasonable steps to ensure that they are made aware of applicable privacy laws.
We will not collect Sensitive Information about you without your consent, unless an exemption or exception applies. These exemptions or exceptions include if the collection is required or authorized by law, or if it is necessary to take appropriate action in relation to suspected unlawful activity or serious misconduct.
If the Personal Data we request is not provided by you, we may not be able to provide you with the benefit of our Services or meet your needs appropriately.
5 How We Use Your Personal Data
Open Trade uses Personal Data to administer, deliver, improve, and personalize the Services for you and to comply with our legal and regulatory obligations. We also may use such data to communicate with you in relation to other products or Services offered by Open Trade and/or its partners.
Below are specific ways in which we may process your Personal Data:
Provide You With Our Services
We use your Personal Data to provide you with our Services pursuant to our Terms of Service. For example, we need to know certain financial information to process transactions and execute trades on partner exchanges.
Detect and Prevent Fraud
Your Personal Data is used to detect and prevent fraud, money laundering, and other financial crimes.
Protect the Security of Our Services
We process your Personal Data, such as information about your device and activity, to maintain the security of your account and the Open Trade Platform.
User/Customer Support
We process your Personal Data when you contact our Customer Support team to help us address your questions.
Enhance Our Services
We process your Personal Data to understand how our Services are being used to improve our Services and develop new Services.
Product Marketing
We process your Personal Data to identify our Services that we believe may be of interest to you. We may contact you about them.
Compliance with Legal Obligations
We will process your Personal Data where we need to comply with a legal obligation we are subject to, including "know your customer" obligations, anti-money laundering requirements, and financial crime prevention.
6 Data Sharing and Disclosure
Open Trade may disclose Personal Data to:
- Members of our corporate group, which includes our subsidiaries, holding companies and companies under common control including their respective contractors, affiliates, employees or representatives;
- Our service providers and other third parties which assist us in providing Services to you and/or as required or permitted by law including, for example, payment processing, customer support, data analytics, information technology, data processing, network infrastructure, storage, and tax reporting;
- Partner cryptocurrency exchanges where your trades are executed, including but not limited to Binance, OKX, Bybit, HTX, Kraken, KuCoin, Gate.io, MEXC, Bitget, Deribit, and Hyperliquid;
- Identity verification providers for KYC compliance purposes;
- Entities in connection with corporate transactions involving Open Trade, including any financing, acquisition or dissolution proceedings;
- Government entities or other parties to legal process, including law enforcement agencies and authorities, officers, regulators or other third parties to comply with any law, court order, subpoena or government request;
- Professional advisors, including legal, accounting or other consulting services for purposes of audits or to comply with our legal obligations.
Other than as disclosed in this Privacy Policy, Open Trade does not share your Personal Data with any other third parties unless required to do so by law or legal reporting obligations.
If we disclose your Personal Data to service providers that perform business activities for us, they may only use your Personal Data for the specific purpose for which we supply it. We will take reasonable steps to ensure that all contractual arrangements with third parties adequately address compliance with applicable privacy laws.
7 How We Store Your Personal Data
We recognize the importance of securing the Personal Data of our users. We take steps to ensure your Personal Data is protected from misuse, interference or loss, and unauthorized access, modification or disclosure.
Your Personal Data is generally stored in our or our affiliates' computer databases and/or with third-party storage providers. In relation to information that is held on our computer database, we apply data security guidelines to ensure that your Personal Data is managed securely.
We retain your Personal Data for as long as is reasonably necessary to provide Services to you, for our legitimate business purposes, and to comply with our legal and regulatory obligations. If you close your account on the Open Trade Platform, we will continue to retain your Personal Data as necessary to comply with our legal and regulatory obligations.
For example, we are subject to certain anti-money laundering laws which require us to retain records we used to comply with our client identification and due diligence obligations for an additional period after our business relationship with you has ended.
8 International Data Transfers
Open Trade operates a global business and Personal Data may be stored and processed in any country where we are licensed and have a physical presence or where we may engage service providers.
We may transfer Personal Data that we maintain about you to recipients in countries other than the country in which the Personal Data was originally collected. Those other countries may have data protection or privacy rules that are different from those of your country.
However, we will take measures to ensure that any such transfers comply with applicable data protection laws and that your Personal Data remains protected to the standards described in this Privacy Policy.
By communicating electronically with Open Trade, you acknowledge and agree to your Personal Data being processed in this way.
9 Your Rights
Subject to exceptions set out in the law, you have the following rights with respect to your Personal Data:
Right to Access
You have the right to obtain a copy of your Personal Data upon request and ascertain whether the information we hold about you is accurate and up-to-date. We will provide access within 30 days of your request.
Right to Rectification
If any of your Personal Data is inaccurate, you may request to update your information. Where we are satisfied that the request to update the information is accurate, we will take reasonable steps to correct the information within 30 days.
Right to Erasure
If you are entitled by law, you may request to delete your Personal Data, with the exception that we may refuse your deletion request in certain circumstances, such as compliance with law or legal purposes.
Right to Withdraw Consent
Where we have relied upon your consent to process your Personal Data, you have the right to withdraw that consent. This does not affect the lawfulness of processing based on your consent until withdrawal.
Right to Data Portability
You have the right to receive the Personal Data you have provided to us in an electronic format and to transmit the Personal Data to another data controller.
To request withdrawal of your previously provided consent or to exercise your privacy rights, please send an email with your request to [email protected] with the subject "DATA REQUEST".
10 Children's Personal Data
Open Trade does not knowingly offer Services to or collect the Personal Data of anyone under the age of 18. If we learn that we have collected Personal Data of anyone under the age of 18, we will promptly delete it from our systems.
If you are aware of anyone under the age of 18 using our Services, please notify us so we can take prompt action to prevent access to our Services.
11 Communications
We may only use Personal Data we collect from you for the purposes of direct marketing with your consent, where we provide a simple way of opting out of direct marketing, and you have not requested to opt out of receiving direct marketing from us.
We may communicate company news, promotions, and information relating to our products and Services provided by Open Trade. We may share Personal Data with third parties to help us with our marketing and promotional projects or sending marketing communications.
Users can opt out from these marketing communications at any time by following the unsubscribe link within any marketing communications sent to you or by contacting our Customer Service at [email protected].
For Services related communications, such as surveys, policy/terms updates and operational notifications, you will not be able to opt out of receiving such information.
12 Cookie Usage
While you access our website, we may use the industry practice of placing a small amount of data that will be saved by your browser ("Cookies"). This information can be placed on your computer or other devices used to visit our Site.
We use Cookies to enhance your experience of using our Site. The information is used to:
- Identify users and remember user preferences;
- Allow users to complete tasks without having to re-enter information when browsing from one webpage to another;
- Collect and analyze website usage data, related to user use and patterns;
- Ensure compliance with our regulatory and Anti-Money Laundering requirements;
- Ensure your account security has not been compromised by detecting irregular, suspicious, or potentially fraudulent account activities.
You can set your browser to block or alert you about these Cookies, but this may affect the functionality of the Services or your user experience.
13 Information Security
We endeavor to protect our Site and you from unauthorized access, alteration, disclosure, or destruction (or other similar risks) of Personal Data we collect and store.
We take various measures to ensure information security, including:
- Encryption of our Site communications;
- Required two-factor authentication for all sessions;
- Periodic review of our Personal Data collection, storage, and processing practices;
- Restricted access to your Personal Data on a need-to-know basis for our employees and Service providers who are subject to strict contractual confidentiality obligations.
If you have any questions about information security or want to report any security issues, please contact us by sending an email to [email protected] with the subject "INFORMATION SECURITY REQUEST".
14 Contacting Open Trade About Privacy
If you have any questions about this Privacy Policy or the use of your Personal Data, please contact us by sending an email to [email protected] with the subject "PRIVACY REQUEST".
15 Changes to Our Privacy Policy
We may update this Privacy Policy at any time by posting the amended version on the Open Trade Platform including the effective date of the amended version, so please check frequently to see if there are any updates and changes.
Your continued access to or use of the Open Trade Platform and/or the Services constitutes your acknowledgment and acceptance of such changes to this Privacy Policy.
This Privacy Policy may be posted in different languages. If there are any discrepancies, the English version shall prevail.