Understanding Our Privacy Policy Structure in Nigeria
At HFM, we adhere to strict data protection standards tailored for Nigerian traders. Our privacy policy explains how personal and trading data are collected, processed, and safeguarded. We ensure compliance with Nigerian data protection laws alongside global security protocols. These protections apply uniformly across MT4, MT5, and the HFM Trading app. This enables Nigerian users to trade forex and CFDs with confidence on our platforms.
| Data Category | Collection Method | Purpose | Retention Period |
|---|---|---|---|
| Personal Information | Registration Form | Account Verification | 7 Years |
| Trading Data | Platform Activity | Service Provision | 5 Years |
| Financial Records | Transaction Logs | Compliance Requirements | 7 Years |
| Communication | Support Channels | Customer Service | 3 Years |
Data Collection Procedures for Nigerian Accounts
We gather essential details during account setup. This includes full name, Nigerian residential address, phone number, email, and date of birth. Verification documents like National Identification Number (NIN) or passport are mandatory. This collection aligns with Nigeria’s regulatory framework. It enables verification and risk assessment for forex and CFD trading services.
Registration Data Requirements
To comply with Nigerian financial laws, we collect employment status, income range, and trading experience. This helps tailor account types and risk disclosures. We also collect device details such as IP address, browser, and OS for security and performance optimization.
Trading Activity Monitoring
Our platform automatically logs all your trading actions. This includes order entries, position adjustments, profits, losses, and withdrawal requests. Continuous monitoring ensures accuracy and regulatory compliance. We also analyze user behavior to enhance service delivery and platform responsiveness.
Information Processing and Usage Guidelines
HFM processes your data for legitimate activities such as account support, trade execution, and risk management. We also comply with Nigerian authorities by submitting required reports. Data helps detect unauthorized access and prevent fraud across forex and CFD transactions.
Marketing Communication Preferences
We may contact you with educational content, service updates, and promotional offers. These are sent respecting Nigerian advertising standards. You can adjust preferences via your dashboard to control marketing communications. Essential notifications remain unaffected by opt-outs.
Data Processing Security
Our processing systems deploy encryption and continuous monitoring to protect data integrity. We limit data access strictly to staff with relevant duties, enforcing confidentiality and security training. These controls protect your forex and CFD trading data from breaches.
Data Sharing and Third-Party Relationships
We share necessary information only with trusted third parties. These include payment gateways, Nigerian regulators, and technical partners. All partners comply with confidentiality and data protection agreements. Sharing is limited to essential transaction and compliance details.
Regulatory Reporting Obligations
HFM fulfills reporting duties to the Securities and Exchange Commission Nigeria and other bodies. This includes transaction records and suspicious activity reports. We also respond to lawful requests such as court orders after careful review.
- Payment processing for deposits and withdrawals
- Regulatory reporting to Nigerian authorities
- Legal compliance with court orders
- Technology service provider maintenance
- Risk management and fraud prevention
| Third Party Type | Information Shared | Purpose | Location |
|---|---|---|---|
| Payment Processors | Transaction Details | Fund Transfers | Nigeria/International |
| Regulatory Bodies | Trading Records | Compliance Reporting | Nigeria |
| Technology Partners | Technical Data | Platform Maintenance | International |
| Legal Authorities | Account Information | Legal Compliance | Nigeria |
Security Measures and Data Protection Protocols
HFM implements multi-layered security to safeguard your data. Encryption protocols protect data in transit and at rest. Access controls restrict data availability to authorized personnel only. Regular audits and penetration tests maintain system integrity.
Technical Security Infrastructure
Firewalls, intrusion detection, and continuous monitoring tools protect platform operations. Data transmissions use TLS encryption ensuring confidentiality. Stored data is secured via database encryption and physical security controls.
Account Security Features
We offer two-factor authentication, login alerts, and session management tools. Enabling these features strengthens your account’s defense. Suspicious activities trigger automated alerts and temporary account restrictions for protection.
Your Rights and Data Control Options
Nigerian law grants you rights to access, correct, and delete your personal data. Our platform provides tools via the dashboard to exercise these rights. You can also request data portability to transfer your information securely.
Access and Correction Procedures
Log in and go to privacy settings to view or download your data. Submit correction requests through the dashboard or support. Identity verification is required to process changes within 5 business days.
- Access to personal information held
- Correction of inaccurate or incomplete data
- Deletion of outdated or unnecessary records
- Data portability for account transfers
- Objection to specific data processing
Cookie Usage and Tracking Technologies
Our platforms use cookies to enhance user experience and provide secure trading. Essential cookies maintain login sessions and platform functionality. Optional cookies assist with analytics and marketing personalization.
Cookie Management Controls
You can manage cookie preferences via browser settings or our cookie center. Disabling non-essential cookies does not affect core platform features. Changes apply immediately to future sessions.
| Cookie Type | Purpose | Duration | User Control |
|---|---|---|---|
| Essential | Platform Function | Session/1 Year | Required |
| Analytics | Usage Tracking | 2 Years | Optional |
| Marketing | Personalization | 1 Year | Optional |
| Security | Fraud Prevention | 6 Months | Required |
Data Retention and Deletion Policies
HFM retains personal data for periods mandated by Nigerian law, usually 7 years post-account closure. Trading and transaction data follow similar retention schedules. After retention expiry, data is securely deleted from all systems and backups.
Account Closure Procedures
Closing your account triggers restricted data processing for compliance only. Most personal information is deleted within 30 days after retention ends. Some data may be retained longer for legal obligations like AML and investigations.
| Data Type | Retention Period | Deletion Timing |
|---|---|---|
| Account Information | 7 Years | After Retention Ends |
| Trading Records | 5 Years | Post Retention |
| Financial Transactions | 7 Years | Post Retention |
| Communication Logs | 3 Years | Post Retention |
Privacy Policy Updates and Communication
We review and update our privacy policy regularly to meet regulatory changes and improve service. Significant updates trigger email alerts and platform notifications for Nigerian traders. Minor revisions are posted online with effective dates.
Notification Procedures
Policy changes are communicated via email to your registered Nigerian contact. You may subscribe to notifications through your dashboard settings. We archive previous versions for transparency and user reference.
Our commitment extends beyond compliance. Continuous investments in technology and training ensure robust data protection for Nigerian users trading forex and CFDs on HFM.
❓ FAQ
How does HFM protect my personal data in Nigeria?
We use encryption, access controls, and regular audits to safeguard your data, complying with Nigerian regulations and international standards.
Can I control marketing communications from HFM?
Yes, you can adjust your preferences in your dashboard to opt out of marketing while still receiving essential service notifications.
What documents are required for Nigerian account verification?
We require valid identification such as your National Identification Number (NIN) or international passport during registration.
How long does HFM retain my trading data?
Trading and financial data are typically retained for 5 to 7 years to meet Nigerian regulatory requirements.
Is two-factor authentication available for my account?
Yes, we provide two-factor authentication and recommend enabling it for enhanced account security.