OrangeX Terms of Service and Conditions
Last revised: August 10, 2023
Email: support@orangex.com
These Terms of Service were prepared in the English language. The English version shall prevail in the event of any conflict, discrepancy or ambiguity between translations.
These Terms of Service apply to the Website and all of your use of the services offered by OrangeX Fintech s.r.o. Please read the contents carefully before you use the Website or any of our services. If you have any questions, please contact us by sending an email to support@orangex.com.
Article 1. Definitions
1.1. Capitalized terms in these terms & conditions shall have the following meaning:
Account:Your personal environment on our Platform, where you can manage your funds and trade Products;
API:An Application Programming Interface with the Platform that enables you to externally manage your Account and trade Products;
Cryptocurrency: Bitcoin, Ethereum, and all other digital currencies that can be used to trade Products on our Platform;
Intellectual Property Rights: All intellectual property rights and related rights such as copyright, trademark rights, patent rights, (un)registered design rights, trade name rights, logos, database rights and neighboring rights, as well as rights to know-how and sui generis intellectual property rights;
Order:An offer to trade a specific number of Products against a specific value, which offer is added to the Order book until it is accepted (matched to another order) or cancelled;
Platform:The application and underlying infrastructure made available by us which you can access remotely and where you can access your Account and trade Products;
Position:The outstanding Products you have traded on our Platform;
Products:All Cryptocurrency derivative contracts, such as futures, options and perpetual swaps, that can be traded on our Platform;
Terms of Service:These terms and conditions, which apply to (the use of) our Website and all agreements concluded between you and us;
Trade:When an order is (partly) matched to another order (accepted);
Wallet:The digital storage vault managed and made available by us where you can store Cryptocurrency to be used to trade Products;
Website:www.OrangeX.com and all underlying pages.
Article 2. General
2.1. Risks: With our Platform, we offer you a tool to sell or buy Products for your own account and at your own risk. You acknowledge, agree and accept that tradingProducts entails a high financial risk and that there is additional counter party risk because our Products are derivative contracts. You have the necessary experience and knowledge to understand the risks involved in our Products. You should carefully assess whether your financial situation and tolerance for risk is suitable for buying, selling or trading Cryptocurrency. You may lose all of your funds in your Account.
2.2. No advice: At no time should any information provided in these Terms of Service or on our Website should be construed as financial advice or investment advice. We do not provide any opinion on the merits of any particular investment. Any information provided is for educational purposes to keep the investor informed of prices, ranges, and volatility of Cryptocurrency. In addition, we do not act as your broker, intermediary, agent or advisor in any fiduciary capacity.
2.3. None of the services of OrangeX amount to any marketing, or promotion or offer to any product or investment to you or any third party. You are solely responsible for any losses, damages or costs resulting from your reliance on any data or information that OrangeX may provide. You will make your own independent decision to access or use our Website and/or Platform.
2.4. Restricted areas: The access or use of our Platform and the services we offer is not available if you are located, incorporated or otherwise established in, or a citizen or resident of (i) the United States; (ii) Panama; (iii) any other country or area designated as a restricted area on our Website; (iv) a jurisdiction where it would be illegal for you to access or use of our Platform. If you are a resident of or are operating from a restricted area as defined in this article, we reserve our right to terminate your Account with immediate effect.
If you are a resident of or are operating from a restricted area as defined in this article, including but not limited to Belarus,Burundi,Cuba,China Mainland,Democratic People's Republic of Korea(DPRK),Hong Kong,Iran,Myanmar,Panama,Russia,Russian-controlled regions of Ukraine (currently including the Crimea, Donetsk, and Luhansk regions),Singapore,Syria,South Sudan,Sudan,United States of America,United Kingdom,Venezuela, or any other jurisdictions in which we may determine from time to time to terminate the services at our sole discretion (the "Excluded Jurisdictions"), we reserve our right to terminate your Account with immediate effect.
We provide services to all countries except the prohibited countries listed in our AML policy, but we will conduct additional verification for high-risk countries.
2.5. Updates: These Terms of Service may be updated from time to time. We will notify you about any amendments to our Terms of Service in advance on our Platform and/or per email. The amended Terms of Service will apply to our legal relationship at the earliest of the following moments: when you accept the amended Terms of Service, when you keep using our Platform after you have been informed about our updated Terms of Service or one month after our notification of the amended Terms of Service. If you do not agree with the amended Terms of Service, your sole remedy is to terminate the use of our services.
Article 3. Our Platform
3.1. Availability: We will do our utmost to ensure that the Platform is available at all times, but we may not always be able to prevent downtime or limited functionality of the Platform. You agree and accept that i) we do not guarantee the continuous availability of the Platform and ii) the Platform has the functionality as available during your use ( ‘as is’). We will remedy any bugs and other defects and make available updates of the Platform at our sole discretion and on a best efforts basis.
3.2. Unavailability errors: As the use of our Platform is at your own risk, you acknowledge that we are not responsible for any errors, delays, communication failures and other malfunctions of the Platform, and that the consequences of such malfunctions shall be for your own account.
3.3. Changes and restrictions: We are at any time entitled to i) make functional, procedural or technical changes or improvements to the Platform, and to ii) (temporarily or permanently) limit or remove functionalities of the Platform, terminate the Platform entirely or to restrict the use of the Platform, without becoming liable to you.
3.4. Accuracy of information: We do our utmost to offer correct and up to date information on our Platform, including market information. However, you acknowledge and accept that such market data may not be accurate and that the use of the market data when trading Products shall be at your own risk.
Article 4. Your Use of our Platform
4.1. Account: To be eligible to use our Platform, you need to create an Account by submitting the details requested in our Account creation form. You warrant that the information you provide is correct and up to date.
4.2. Verification: You acknowledge and accept that we may be required to perform additional checks from time to time to verify your identity and the business relationship, including, but not limited to, by means of a copy of a valid identification document and/or proof of residential address. You warrant that the information you disclose in this respect is at all times correct, authentic and up to date. We reserve the right to suspend, terminate or limit your right to use the Platform (which may include imposing trading limits) until we have verified your identity or if the results of our identity verification process give rise to such measures.
4.3. Credentials: The login credentials to access your Account are strictly personal. You are solely responsible for keeping your login credentials, 2FA-tokens, and other Account login details confidential. It is your responsibility to contact us immediately when you suspect unauthorized use of your login credentials or your Account.
4.4. Use of your Account: You are at all times responsible and liable for any use of your Account, including (unauthorized) trading activity by a third party. You acknowledge and accept that we may not be able to undo transactions executed bya third party through your Account.
4.5. Using the Wallet on our Platform is at all times at your own risk. We are not liable for loss of Cryptocurrency stored in your Wallet or transferred to or from your Wallet, including, but not limited to unauthorized access by a third party, loss or violation of your private key or transferring Bitcoin to an Ethereum address.
Article 5. Products
5.1. Products: You can only trade the Products that are available for trading on our Platform at the time you use the Platform. We reserve our rights to add and remove Products to and from our Platform at our sole discretion. Although we will do our best to inform you timely before removing a Product from our Platform, we reserve our right to do so without prior notice.
5.2. Cryptocurrency: The Cryptocurrency we support for the Products we offer for may change from time to time. We reserve our right to terminate support of aCryptocurrency on our Platform at our sole discretion. Although we will do our best to inform you timely before removing a supported Cryptocurrency from our Platform, we reserve our right to do so without prior notice.
5.3. Consequence of removal: If we remove a Product or Cryptocurrency from our Platform, any outstanding Order will be cancelled. You will be given the opportunity to withdraw the Cryptocurrency from your account.
5.4. Product terms & policies: Additional terms and contract specifications per Product apply, which terms and policies are available in the Knowledge Base on our Website. By placing an Order, you accept the terms and contract specifications that apply to the relevant Product.
5.5. Funds: You can only place an Order if you have sufficient funds in your Wallet or have sufficient margin balance available for trading. From time to time, at our sole discretion, we are entitled to adjust margin requirements that may result in a different available margin balance.
Article 6. Trading
6.1. No refunds: Placing Orders and making Trades is at your own risk. Any Trade you make, whether on purpose or by mistake, is final and can not be reversed. No refund of any Trade shall take place.
6.2. Reversing/adjusting Trades: We reserve our right to reverse a Trade or adjust the price of a Trade that we regard as being abnormal in respect of the price level to be expected from an orderly market.
6.3. Trading pause: We reserve our right to halt or limit the possibility to place Order sor make Trades on the Platform, without becoming liable to you for any alleged damages resulting from halting or limiting trading.
6.4. Trading restriction: We reserve our rights to limit your right to place Orders, cancel Orders and/or close your Positions without becoming liable for any alleged damages you may have incurred due to such measures.
6.5. Liquidation: If your available funds are insufficient for your Position(s), then your Positions will be incrementally closed against the then-available prices in the market until your funds are sufficient for the remaining of your Positions, in accordance with the applicable terms and policies for the relevant Product.
6.6. Bankruptcy: If your Positions have been liquidated and the amount of Cryptocurrency in your Wallet is insufficient to cover your (additional) losses, your Account is bankrupt. We will reset the balance of the relevant Cryptocurrency in your Account to zero by transferring funds from the Insurance Fund to your account.
6.7. Insurance Fund: The fund that will be used to cover for losses of bankruptcies. The balance of the Insurance Fund and terms that apply are available on our Website. If bankruptcies in a session deplete the Insurance Fund, any further losses will be covered by profits made by traders on the Platform on a pro rate basis. In such a case, all winning traders of a session would get taxed a percentage on their profits to cover for bankruptcies.
Article 7. API
7.1. Use & Availability: you acknowledge and accept that the API may not be available at all times. We are not responsible for any wrong Orders or other incorrect actions on our Platform when using our API.
7.2. Costs: Upon notifying you in advance, we are entitled to amend the fees that apply to the use of our API.
7.3. Discontinuation: We reserve our rights to, without prior notice, terminate the support of the API and to limit or suspend the functionality thereof.
Article 8. Fees & Withdrawals
8.1. Fees: You acknowledge and agree that fees will apply when you use our Platform. Depending on the type of Trade you conclude on our Platform, we will charge a transaction fee or grant a transaction rebate, which will be deducted from or added to the value of the Trade. The applicable fees and rebates per Product and per type of Trade may be amended from time to time and are available on our Website.
8.2. Withdrawal: You may withdraw your available Cryptocurrency from your Wallet, provided that i) your withdrawal request exceeds the minimum withdrawal requirement as communicated on the Platform, and ii) your available margin balance remains sufficient to uphold your Positions. The fee for a withdrawal depends on the current state of the network of the Cryptocurrency. We are not responsible, nor liable, for any fees that may apply to your withdrawal request.
8.3. Delay: You acknowledge and accept that we may not be able to immediately execute any withdrawal request (for instance due to offline storage of your Cryptocurrency). We use our best efforts to execute a withdrawal request within48hours. We are not liable for any alleged damages you claim to have incurred due to a delay in executing your withdrawal request.
8.4. Withdrawal freeze: We may suspend a withdrawal request and/or limit your right to withdraw Cryptocurrency for a period of time, for instance if we are required to investigate a request or suspect a violation of these Terms of Service, applicable law or other applicable terms.
Article 9. Liability
9.1. Limitation of liability: If we are liable as a result of an attributable breach of our obligations, an unlawful act or otherwise, our liability will be limited to compensation of only your direct damages to a maximum of the fees paid by you to us during the six(6) month period prior to the cause of action.
9.2. Indirect damages: Any liability for damage other than direct damage ("indirect damages"), including – but not limited to – consequential damages, loss and/or damage of data, loss of profits, business opportunity, revenue or goodwill as well as lost Trades or sales, is excluded.
9.3. Unavailability: We shall not be liable for any damages you may incur due to(parts of) the Platform or the API being (temporarily) unavailable.
9.4. No limitation: The limitations and exclusions of liability mentioned in the preceding paragraphs of this article will lapse if and in so far as the damage is the result of our intentional or willful recklessness.
9.5. Notice of liability: We shall not become liable for the compensation of your damages before you have reported the damages to us in detail. Any claim for compensation will lapse if you have failed to report such claim within three months after your damages arose.
Article 10. Force Majeure
10.1. Force Majeure: any event beyond our reasonable control, such as – but not limited to – flood, extraordinary weather conditions, earthquake, or any other Act of God, fire, war, insurrection, riot, labor dispute, accident, action of government, failure of our suppliers to comply with their obligations, a communications failure (including internet), power failure, or equipment or software malfunction shall qualify as a"Force Majeure Event".
10.2. Excused Performance: Any non-performance from our side that is the result of aForce Majeure Event shall not be attributable to us.
10.3. No liability: We shall not be liable for any damages which we could not prevent due to a Force Majeure Event.
Article 11. Warranties & Indemnification
11.1. Your warranties: you represent and warrant that:
11.1.1. You have accepted our Terms of Service when you create an Account;
11.1.2.You are at least 18 years old and have the capacity to create an Account and use the Platform;
11.1.3. You are not a resident or representative of an entity in the sense of article 2.4 of these Terms of Service;
11.1.4. if you are using our Platform on behalf of your organization, you are authorized to do so. The relevant organization will be liable for your actions, including any breach of these Terms of Service;
11.1.5. You, or any party affiliated with you, are not in any way sanctioned by or under investigation in relation to anti-money laundering laws, counterterrorism financing laws, anti-corruption laws, economic sanctions laws or related regulations;
11.1.6. You must not use the Website in any way that causes, or may cause, damage to the Website or impairment of the availability or accessibility of the Website, or in any way which is unlawful, illegal, fraudulent or harmful, or in connection with any unlawful, illegal, fraudulent or harmful purpose of activity;
11.1.7. You must not use the Website to copy, store, host, transmit, send, use publish or distribute any material which consists of, or is linked to, any spyware, computer virus, Trojan horse, worm, keystroke, logger, rootkit or other malicious computer software;
11.1.8. You shall not perform any (distributed) denial of service or other malicious attacks, or conduct any systematic or automated data collection activities (including without limitation scraping, data mining, data extraction and data harvesting);
11.1.9. You only deposit, trade and withdraw Cryptocurrency that are your own and that have been legally obtained in your Account;
11.1.10. the Cryptocurrency deposit addresses and withdrawal addresses you have provided to us are your own and that you have full control over these addresses;
11.1.11. You are aware of the risks using our Platform, including, but not limited to, high volatility risk of Cryptocurrency and the fact that you may loss all your Cryptocurrency in your Account if the market moves against you;
11.1.12. You will at all times comply with applicable laws and regulations;
11.1.13. You have knowledge and experience in trading the Products we offer and are aware of the risks related to our Platform and services, including losing all the Cryptocurrency you deposit to your Wallet;
11.1.14. You will not be involved or initiate any form of market manipulation, including spoofing orders or otherwise; and
11.1.15. The information and documents you provide are correct, genuine and up to date.
11.2. Upon our first request, you will indemnify us from all third-party claims resulting from or related to your breach of these Terms of Service, applicable law, or any of the terms that apply to your use of our Platform, as made available on our Website.
Article 12. Privacy
12.1. Use of personal data: You warrant that the personal details you provide to us are at all times correct and up to date. We will at all times process your personal data in accordance with our Privacy Policy.
Article 13. Intellectual Property Rights
13.1. Ownership: The Intellectual Property Rights in relation to our Platform, are held by us or our licensor(s). Nothing in these Terms of Service may be interpreted to constitute a transfer of Intellectual Property Rights from one party to the other.
13.2. License: Under the condition that you comply with these Terms of Service, you are granted a non-exclusive, non-sublicensable and non-transferable right to access and use the Platform, including our Website, your Account and all materials made available on our Platform for your own personal use and to the extent required for your use of our services.
Article 14. Suspension & Termination
14.1. Termination by you: You are entitled to terminate your agreement with us by sending an email to the address provided on our Website.
14.2. Suspension: if we suspect that you have breached these Terms of Service, applicable law and/or the trading terms provided on our Website, we may temporarily suspend your Account and limit your trading. We are entitled to limit your right to place Orders, cancel Orders and/or close your Positions during this investigation. Deposits or withdrawals of Cryptocurrency may be limited by us. We are not liable for any alleged damages you may have incurred due to such measures.
14.3. Termination by us: We reserve our rights to terminate your Account at any time and without stating reasons. Unless we are required otherwise by applicable law or a judicial order, we will provide a notice period of seven days before your Account is terminated. In this notice period you will be able to close your Positions and withdrawCryptocurrency from your Wallet. After the notice period has lapsed, we are entitled to immediately close any Positions that may still be open and return any remaining Cryptocurrency to you. We will not be liable for any damages you may incur due to us invoking our right to terminate your Account.
14.4. Survival: The terms of these Terms of Service that are constituted to survive termination of our agreement shall remain applicable in case of termination of such agreement, including, but not limited to the following articles: Article 2, Article 9, Article 11, Article 12, Article 14, Article 15, Article 16 and Article 17.
Article 15. Enforceability
15.1. Enforceability: If at any time any provision of these Terms of Service is or becomes illegal, void or invalid, such invalidity shall not affect the validity of the remainder of the Terms of Service. We will replace such invalid provision by such other provision which, being valid in all respects, shall have an effect as close as possible to that of the replaced provision.
Article 16. No Waiver
16.1. Any failure or delay by us to enforce any provision of these Terms of Service or to exercise any right under these Terms of Service will not be construed as a waiver to any extent of our rights.
OrangeX Privacy Notice
Last updated: September 29, 2024
1. Introduction
OrangeX Fintech s.r.o. (hereafter also referred to as "the Company", "we", "us", or "our") is authorized as a virtual currency exchange operator. The Company is incorporated under the laws of Czech, with legal entity code 19892853 and registered address at Sokola Tůmy 743/16, Mariánské Hory, 709 00 Ostrava. The Company owns and operates the domain https://www.orangex.com (hereafter the "Website).
OrangeX is the brand name for our onramp service, operated by OrangeX Fintech s.r.o.. Throughout this privacy policy, any reference to "OrangeX" or "we" refers to OrangeX Fintech s.r.o., the legal entity responsible for operating the OrangeX service.
OrangeX Fintech s.r.o. operates a comprehensive cryptocurrency exchange platform, providing services such as spot trading, perpetual contracts, and copy trading. OrangeX collects and processes personal data, including KYC (Know Your Customer) and transaction information, in compliance with applicable regulations. As a traditional cryptocurrency exchange, it ensures the security and privacy of users while offering a seamless trading experience across multiple cryptocurrencies.
The Company is the controller of your personal data collected via the means described herein and any process of your personal data is performed in accordance with this Privacy Policy (hereafter "the Policy") and the requirements of theRegulation (EU) 2016/679 of the European Parliament and of the Council of 27th April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation) (hereafter "GDPR"), Law on the Legal Protection of Personal Data of the Czech Republic and other applicable legal acts.
Data Subject (hereinafter "you" or "your") stands for an identified or identifiable natural person, whose personal data the Company processes in course of conducting business, regardless the personal data were obtained from this person directly or from third parties. At the Company, we treat all former, existing, or prospective clients, individual visitors that enter our Website, all private individuals that represent our corporate clients (i.e. authorized representatives, proxies, etc.), and all our private individual clients as Data Subjects in the sense of the GDPR.
Personal data means any information relating to an identifiable natural person (i.e. using information and data in order to directly or indirectly identify a specific person).
Processing means any operation(s) which is performed on personal data (or on sets of personal data) whether or not by automated means such as collection, recording, organization, structuring, storage, adaptation or alteration, retrieval, consultation, use, disclosure by transmission, dissemination or otherwise making available, alignment, combination, restriction, erasure or destruction.
2. Scope and Applicability
As part of the Company’s daily operations, it is necessary for us to collect personal data from you to be able to provide you with our products and services. This Policy describes how the Company processes your personal data.
Any personal data the Company collects about you will only be used for the purposes we have collected it for, or as allowed under the applicable legislation, and to perform our contractual obligations concerning the products and services offered. This Policy covers the Company’s Website https://www.orangex.com all its related sub-domains that are registered and operated by the Company, as well as the payment gateways and any other software solutions used by the Company.
This Policy applies to the processing of personal data regardless of the form/environment in which the personal data is provided (e.g. on paper, electronically, by phone or otherwise) and whether or not the Company process it by automated means or manually.
The Company strives to protect the privacy, confidentiality and security of all personal data obtained from you during the course of your business relationship and dealings with the Company, including information obtained during your visits to our Website.
3. Our Commitment to You
The Company fully understands the importance of maintaining the confidentiality and privacy of your personal data. We respect your privacy, and to this end, we are committed to taking all reasonable steps to protect and safeguard the privacy, confidentiality, security, and integrity of your personal data.
4. How do we collect your Personal Data?
We use different methods to collect information from and about you, including through:
Direct interactions. You may provide us with your Identity Data, Social Identity Data, Contact Data, Financial Data, Profile Data and Marketing and Communications Data by directly interacting with us, including by filling in forms, providing a visual image of yourself via the Service, by email or otherwise. This includes personal data you provide when you:
- Visit our Site or App;
- Apply for our Services;
- Create an account;
- Make use of any of our Services;
- Request marketing to be sent to you, for example by subscribing to our newsletters;
- Enter a competition, promotion or survey, including through social media channels; or
- Give us feedback or contact us.
Automated technologies or interactions. As you interact with us via our Site or App, we will automatically collect Technical Data about your equipment, browsing actions and patterns. We collect this personal data by using cookies, server logs and other online identifiers. We will also collect Transactional Data and Usage Data. We may also receive Technical Data and Marketing and Communications Data about you if you visit other websites employing our cookies. You may find more information about how we use cookies through the Cookie Preferences.
Social media widgets and similar links. Our Site may contain links, social media plug-ins, "widgets", "tweet", "share" and "like" buttons linked to social media platforms such as Facebook, X (Twitter), Instagram, Threads, Discord, LinkedIn, Reddit and Telegram.
5.What Personal Data do we collect?
Personal data
Personal data, or personal information means any information that relates to an identified or identifiable living individual. This includes information you provide to us, information which is collected about you automatically, and information we obtain from third parties.
| Category of personal data | Examples of specific pieces of personal data |
| Identity Data |
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| Contact Data |
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| Financial Data |
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| Transactional Data |
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| Technical Data |
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| Profile Data |
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| Usage Data |
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| Marketing and Communications Data |
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6. How do we process your Personal Data?
Lawful basis
We will only use your personal data when the applicable legislation allows us to. In other words, we must ensure that we have a lawful basis for such use. Most commonly, we will use your personal data in the following circumstances:
performance of a contract: means processing your data where it is necessary for the performance of a contract to which you are a party or to take steps at your request before entering into such a contract; we use this basis for provision of our Services;
legitimate interests: means our interests (or those of a third party), where we make sure we use this basis as far as your interests and individual rights do not override those interests;
compliance with a legal obligation: means processing your personal data where we need to comply with a legal obligation we are subject to;
consent: means freely given, specific, informed and unambiguous indication of your wishes by which you, by a statement or by a clear affirmative action, signify agreement to the processing of personal data relating to you; under specific circumstances this consent should be explicit – if this is the case, we will ask for it properly.
Purposes for which we use your personal data
We have set out below, in table format, a description of the ways we plan to use your personal 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 your personal data for more than one lawful ground depending on the specific purpose for which we are using your data. Please contact us if you need details about the specific legal ground, we are relying on to process your personal data where more than one ground has been set out in the table below.
| Purpose and/or activity | Categories of personal data | Legal basis for processing |
| To register you as a new customer |
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| To carry out and comply with anti-money laundering requirements |
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| To process and deliver the Services (including products offered by third-party service providers with whom we work) and any App features to you, including to execute, manage and process any instructions or orders you make through the Services |
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| To prevent abuse of our Services and promotions |
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| To manage our relationship with you which will include asking you to leave a review, take a survey or keeping you informed of our company's business and product development |
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| To keep our recordsupdated and to studyhow customers use ourproducts/services |
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| To manage, process, collect and transfer payments, fees and charges |
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To obey applicable legislation and handle complaints, including:
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| To enable you to partake in a prize draw, competition or complete a survey |
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| To gather market data for studying customers' behavior including their preference, interest and how they use our products/services, determining our marketing campaigns and growing our business |
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| To administer and protect our business, our Site, App(s) and social media channels including bans, troubleshooting, data analysis, testing, system maintenance, support, reporting, hosting of data |
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| To deliver relevant website content and advertisements to you and measure or understand the effectiveness of the advertising we serve to you |
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| To use data analytics to improve our website, products/services, marketing, customer/user relationships and experiences |
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| To make suggestions and recommendations to you about goods or services that may be of interest to you |
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| To use the services of social media platforms or advertising platforms some of which will use the personal data they receive for their own purposes, including marketing purposes |
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| To use the services of and enter into partnerships with, financial institutions, third-party partners whose products form a part of the Services offered, crime and fraud prevention companies, risk measuring companies, which will use the personal data they receive for their own purposes in their capacity of independent controllers |
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Automated Decision Making
What is an automated decision?
Automated decision is usually a decision that may impact you and is made automatically based on software algorithms, without human intervention. As an illustrative example, we use automated decisions to complete the onboarding process of a new customer or to perform anti-fraud monitoring.
Why is an automated decision important to you?
Depending on the particular case, using your personal data may lead to automated decisions being taken (including profiling) that legally affect you or similarly significantly affect you.
How do we protect your interests regarding automated decisions?
The rights and interests of individuals whose personal data undergoes automated decision-making is safeguarded through appropriate measures. When an automated decision is made about you, you have the right to oppose the decision.. If you need more detailed information or wish to exercise this right, please contact us.
Marketing
We may use your Identity Data, Contact Data, Technical Data, Transactional Data, Usage Data and Profile Data to form a view on what we think you may want or need, or what may be of interest to you. This is how we decide which products, services and offers may be relevant for you.
You will receive marketing communications from us if you have requested information from us and consented to receive marketing communications, or if you have purchased from us and you have not opted out of receiving such communications. We will use your Marketing and Communications Data for our respective activities.
Third-party marketing
We will obtain your opt-in consent before we share your personal data with any third party for marketing purposes.
Opting out
Youmay opt out of marketing communications at any time by following the opt-out links on any marketing message sent to you.
Further, you can login and cancel the marketing messages in Notifications.
Where you opt out of receiving marketing messages, this will not apply to service messages which are directly related to the use of our Services (e.g. maintenance, change in the terms and conditions and so forth).
Our Use of Cookies and Other Tracking Mechanisms
We and our third-party service providers use cookies and other tracking mechanisms to track information about your use of our Platform. We may combine this information with other personal information we collect from you (and our third-party service providers may do so on our behalf).
Cookies.
Cookies are alphanumeric identifiers that we transfer to your computer’s hard drive through your web browser for record-keeping purposes. Some cookies allow us to make it easier for you to navigate our Platform, while others are used to enable a faster log-in process or to allow us to track your activities at our Platform. There are two types of cookies: session and persistent cookies.
Session cookies exist only during an online session. They disappear from your computer when you close your browser or turn off your computer. We use session cookies to allow our systems to uniquely identify you during a session or while you are logged into the Platform. This allows us to process your online transactions and requests and verify your identity, after you have logged in, as you move through our Platform.
Persistent cookies remain on your computer after you have closed your browser or turned off your computer. We use persistent cookies to track aggregate and statistical information about user activity.
Please note that our systems do not currently respond to do-not-track signals.
Disabling Cookies. Most web browsers automatically accept cookies, but if you prefer, you can edit your browser options to block them in the future. The general settings on most browsers will tell you how to prevent your computer from accepting new cookies, how to have the browser notify you when you receive a new cookie, or how to disable cookies altogether. Users of our Platform who disable cookies will not be able to browse certain areas of the Platform.
Third Party Analytics. We use automated devices and applications, such as Google Analytics, to evaluate usage of our Platform. We also may use other analytic means to evaluate our Platform. We use these tools to help us improve our Platform, performance and user experiences. These entities may use cookies and other tracking technologies to perform their services. We do not share your Personal Information with these third parties.
Change of purpose
We will only use your personal data for the purposes for which we collected it, unless we reasonably consider that we need to use it for another reason and that reason is compatible with the original purpose. If you wish to get an explanation as to how the processing for the new purpose is compatible with the original purpose, please contact us.
If we need to use your personal data for an unrelated purpose, we will notify you and we will explain the legal basis which allows us to do so.
Sale or transfer of business
We may also need to process your data in connection with or during the negotiation of any merger, financing, acquisition, bankruptcy, dissolution, transaction or proceeding involving all or a part of our shares, business or assets. This will be based on our legitimate interests in carrying out such transactions, or to meet our legal obligations.
7. Contacting You
The Company or its affiliates, business partners, associates or other agents may, from time to time, contact you by telephone, email, or otherwise, for the purposes of offering you further information about the Company’s products and services, or to inform you of promotional offerings, or for marketing purposes, or to conduct market research, with your prior consent.
In case you do not agree to receive these marketing messages or calls, this will not have any impact on the provision of our services to you.
If you wish to opt-out of any further contact at any time and for whatever reason, you are entitled to do so by contacting the Company’s back-office department via email dpo@orangex.com and requesting in writing that you wish no further contact in relation to the above reasons.
8. Disclosure and Transfer of your Personal Data
We may share your personal data with our third-party service providers, agents, subcontractors and other associated organizations, our group companies, and affiliates (as described below) in order to complete tasks and provide the Services and use of the App to you on our behalf. When using third party service providers, they are required to respect the security of your personal data and to treat it in accordance with the law.
We pass your personal data to the following entities:
- Companies and organizations that assist us in processing, verifying or refunding transactions/orders you make and in providing any of the Services that you have requested;
- Third-party service providers with whom we work and whose products, services or applications are hosted/integrated on our Site and App;
- Identity verification agencies to undertake required verification checks;
- Fraud or crime prevention agencies to help fight against crimes including fraud, money-laundering and terrorist financing;
- Anyone to whom we lawfully transfer or may transfer our rights and duties under the relevant terms and conditions governing the use of any of the Services;
- Any third party because of any restructure, sale or acquisition of our group or any affiliates, provided that any recipient uses your information for the same purposes as it was originally supplied to us and/or used by us; and
- Regulatory and law enforcement authorities, whether they are outside or inside the Republic of Seychelles, where the law allows or requires us to do so.
Specifics regarding the use of blockchain
The blockchain technology used in the provision of certain Services operates on a decentralized network, where transactions are recorded in an immutable and transparent manner. This characteristic ensures the integrity and security of the data stored on the blockchain. However, it also means that once data is added to the blockchain, it becomes virtually impossible to remove or delete it.
Transfer of Information
Please note, we may store your Personal Information on servers located in the countries where our main offices are located. If such jurisdiction is outside your jurisdiction of residence, you consent to the transfer of your Personal Information to such jurisdiction for purposes of providing the Platform to you, even if such other jurisdiction has less protection for Personal Information than your jurisdiction of residence. We will ensure that security provisions are in place consistent with our obligations to maintain the security of your Personal Information under the laws of your jurisdiction of residence.
9. Safeguard Measures
While there is an inherent risk in any data being shared over the internet, we have put in place appropriate security measures to prevent your personal data from being accidentally lost, used, damaged, or accessed in an unauthorised or unlawful way, altered, or disclosed. In addition, we limit access to your personal data to those employees, agents, contractors and other third parties who have a legitimate business need to know. They will only process your personal data on our instructions, and they are subject to a duty of confidentiality.
Depending on the nature of the risks presented by the proposed processing of your personal data, we will have in place the following appropriate security measures:
- Organisational measures (including but not limited to staff training and policy development);
- Technical measures (including but not limited to physical protection of data, pseudonymization and encryption); and
- Securing ongoing availability, integrity, and accessibility (including but not limited to ensuring appropriate back-ups of personal data are held).
We have put in place procedures to deal with any suspected personal data breach and will notify you and any relevant regulator of a breach where we are legally required to do so.
10. Our identification tools
To perform your identity verification, OrangeX Fintech s.r.o. uses an in-house solution to collect and process the necessary identification data. This process includes capturing photo images or video recordings of your face and ID document using a secure web or mobile interface. The data collected is used to meet our legal obligations, such as those under the Law on Prevention of Money Laundering and Terrorist Financing of the Czech Republic, as well as for fraud and crime prevention and risk management purposes.
The face comparison results (match or mismatch) are retained only for as long as necessary to complete the verification and to comply with anti-money laundering regulations. We ensure that your facial data is used solely for one-time verification and is not stored as a facial template, nor is it possible to regenerate the raw data from the retained information.
By using this in-house solution, we verify that the individual in the ID document matches the person captured in the photo or video, facilitating a precise and efficient identity verification process. Should you prefer an alternative identification method, you may contact us at dpo@orangex.com.
11. Automated decision making
In some instances, the Company may implement automated decision-making processes, which involve decisions made purely through automated data processing, without human intervention. This could involve the use of software algorithms for tasks such as verifying user identities, detecting fraudulent activities, or assessing trading risks.
Automated decision-making helps us efficiently manage certain aspects of our services. If you feel that an automated decision has been inaccurate or unfair, you have the right to request a manual review of the decision.
For more information about your rights regarding your personal data, please refer to the section titled Your Rights Regarding Your Personal Data.
12. Storage and Retention Period of your Personal Data
Retention periods will be determined taking into account the type of information that is collected and the purpose for which it is collected, bearing in mind the requirements applicable to the situation and the need to destroy outdated, unused information at the earliest reasonable time. When personal data is no longer necessary for the purpose for which it was collected, we will securely destroy the records. This means that we store your data for as long as it is necessary for provision of our services and as required by the retention requirements in laws and regulations. If the legislation of the Czech Republic does not provide any applicable data retention period, it shall be determined by us, taking into account the legitimate purpose of the data retention, the legal basis and the principles of lawful processing of personal data.
The terms of data retention of the personal data for the purposes of the processing of the personal data as specified in this Policy are as follows:
- as long as your consent remains in force, if there are no other legal requirements which shall be fulfilled with regard to the personal data processing. We reserve the right to retain records of any consent given and withdrawn for a period of time necessary to protect our rights;
- in case of the conclusion and execution of contracts – until the contract concluded between you and us remains in force and up to 10 years after the relationship between you and us has ended;
- the personal data collected for the implementation of the obligations under the Law on the Prevention of Money Laundering and Terrorist Financing shall be stored up to 10 (ten) years as provided in the Act No. 253/2008 Coll. on Certain Measures against Money Laundering and Terrorist Financing of the Czech Republic. The retention period may be extended for a period not exceeding 2 (two) years, provided there is a reasoned request from a competent authority;
- the personal data submitted by you through our website or via e-mail is kept for an extent necessary for the fulfilment of your request and to maintain further cooperation, but no longer than 6 months after the last day of the communication, if there are no legal requirements to keep them longer.
In the cases when the terms of data keeping are indicated in the legislative regulations, the legislative regulations are applied.
We may retain your personal data for a longer period when:
- it is necessary in order for us to defend ourselves against existing or threatened claims, or to exercise our rights, or for the proper resolution of dispute, complaint or claim;
- there is a reasonable suspicion of illegal activity;
- it is required by applicable laws.
Upon expiration of the retention period, we will delete and/or reliably and irrevocably depersonalize your data as soon as possible, within a reasonable time required to perform such action.
13. Transfer of Personal Data outside the EEA
European Union (EU) data protection rules apply to the European Economic Area (EEA) which includes all the EU countries and non-EU countries: Iceland, Liechtenstein and Norway. If necessary, the Company may transfer your personal data to a country outside the EEA, for storage and/or for processing by staff operating outside the EEA who work for the Company and/or to our suppliers, business partners, associates, affiliates, agents, business introducers or service providers who are engaged on our behalf to fulfil our contractual obligations under the Client Agreement. Moreover, personal data we collect from you may be stored or processed in a jurisdiction that is different to the country in which the specific entity of the group you are dealing with is registered and established. Therefore, by entering into the Client Agreement with the Company and submitting your personal data, you agree to the transmittal, storing and processing of your personal data outside the EEA.
Nonetheless, when your personal data is transferred outside the EEA, the Company will take all steps reasonably necessary to ensure that the transfer is lawful, that the organization to whom your data are send provides data protection at an adequate level, or provided that receiving Company undertakes sufficient guarantees in accordance with the provisions of the GDPR to ensure that your personal data are treated securely.
Where it is not possible to avoid disclosing your personal data, and we are legally required to do so (e.g., by law or court order), we will comply with the applicable legal and regulatory obligations under Czech and European Union (EU) law. OrangeX will only transfer personal data outside the EU/EEA to a country that has not been recognized by the European Commission as having an adequate level of data protection, and which does not provide corresponding guarantees, if:
- You have provided explicit consent to the proposed transfer after being informed by OrangeX of the potential risks associated with such a transfer;
- The transfer is necessary to fulfill a contract between you (the client) and OrangeX, or to implement measures required by you before entering into a contract;
- The transfer is necessary for the conclusion or execution of a contract between OrangeX and another individual or legal entity in your interest;
- The transfer is required for important public interest reasons;
- The transfer is necessary for the establishment, exercise, or defense of legal claims; or
- The transfer is necessary to protect your vital interests when you are physically or legally incapable of giving consent.
14. Cookies and Links
The Company utilizes cookies to enhance user interaction on its Website. These small data files are sent from our Website and stored in your browser, allowing us to gather information about how you use our services. By collecting this data, we aim to tailor our offerings and provide a more personalized experience according to your preferences. Cookies contain a unique identifier but do not grant us access to your computer or any sensitive information beyond what you voluntarily share.
While cookies are employed across our Website, none of the data stored in them is linked to personal information you provide. You have the ability to manage cookie acceptance via your browser’s settings. Please note, however, that disabling cookies may limit your access to certain parts of the Website or affect the functionality of your customer account. We recommend reviewing our Cookies Policy to better understand how we use these files and other web tracking technologies.
Additionally, some of the Company’s partners, associates, and affiliates may also utilize cookies on the Website. As we do not have control over these third-party cookies, we cannot be held responsible for any loss or misuse of personal data that may occur as a result. If you visit external sites linked through our Website, this Policy does not cover them, so we advise reviewing their respective privacy policies to understand how your data is handled.
15. Your Rights regarding your Personal Data
In accordance with the GDPR and Czech regulatory requirements, you are entitled to the following rights concerning your personal data:
- Access to your Personal Data: You have the right to request access to the personal data we collect and process during your business relationship with OrangeX. This includes reviewing, updating, and checking the accuracy of all data related to you.
- Rectification: Should the personal data we hold be inaccurate or incomplete, you have the right to request corrections or updates. We may ask for supporting documentation to verify the changes.
- Changes: You may notify us of any changes to your personal data by emailing dpo@orangex.com, and we will update your data accordingly. Please note that we may require evidence for these updates.
- Deletion: You can request the deletion of your personal data when it is no longer necessary for us to process it. However, this does not apply if we are required to retain it for legal or regulatory purposes (e.g., anti-money laundering requirements). Deleting your personal data will result in the closure of your account.
- Information on Use and Processing: You have the right to know how your data is being used, why we process it, and request a copy of the personal data we hold about you.
- Processing Restrictions: You may request that we limit or stop processing your personal data for specific reasons, such as:
- Disputing the accuracy of the data (restriction applies while we verify the data).
- If the data processing is unlawful, but you prefer restriction over deletion.
- If we no longer require the data, but you need it to establish, exercise, or defend legal claims.
- If you object to processing based on our legitimate interests (while we assess whose interests prevail).
- Portability: You have the right to request that we transfer your personal data to you or another data controller in a structured, commonly used, and machine-readable format. After the transfer, OrangeX is no longer responsible for the data’s use by the third party.
- Withdrawal of Consent: You may withdraw your consent to data processing at any time by contacting our DPO. While the withdrawal halts future processing, any processing performed before the withdrawal remains lawful.
- Right to File a Complaint: If you believe your rights are being violated or your data is being mishandled, you may file a complaint with the Czech Data Protection Authority. The process for filing complaints can be found at https://www.uoou.cz/en/.
To exercise any of these rights, please contact our Data Protection Officer (DPO) via dpo@orangex.com. Requests will be processed within 30 days. If needed, the period may be extended to two months based on the complexity or number of requests. Additional copies of personal data may incur a reasonable fee based on administrative costs. Requests may be refused if they are excessive or unjustified, particularly if repetitive.
16. Legal Disclaimer
The Company is not responsible for the use, misuse, or loss of personal data that may occur on external websites linked from the Company's Website. Additionally, the Company has no control over or access to the information provided to or collected by such third-party sites. When you choose to access co-branded or linked websites, any personal data you provide may be governed by the third party’s Privacy Policy.
You are solely responsible for keeping your login credentials secure and confidential. If any unauthorized person gains access to your account or personal data, the Company will not be liable for any resulting damages or unauthorized use of your account. Any misuse or loss of your login credentials, whether due to negligence or unauthorized actions by yourself or those authorized by you, will be your responsibility. The Company is not responsible for unauthorized access due to actions or omissions by you or individuals you authorize.
17. Consent
The collection, use, and storage of your personal data are carried out based on your explicit consent. By entering into an agreement with the Company, creating a customer account, and using the Website, trading platforms, or payment gateways, you acknowledge and agree to the collection, use, and storage of the personal data you provide, as outlined in this Policy. Additionally, by downloading the Company’s platforms or accepting cookie settings in your web browser, you further consent to this Policy. Please note that you may withdraw your consent at any time; however, any data processed prior to your withdrawal will remain lawfully processed and unaffected.
18. Data Protection Officer (DPO)
If you have any questions regarding this Policy, wish to make a complaint or exercise any of your rights in relation to your personal data you may contact our DPO as follows:
Via email at: dpo@orangex.com
With registered post at: Sokola Tůmy 743/16, Mariánské Hory, 709 00 Ostrava
19. Amendments to this Policy
The Company will review this Policy at least once a year or whenever there are significant changes in legal requirements, internal procedures, or as deemed necessary for any other reason. You will be notified of any updates by the posting of an updated Policy on the Company’s Website. In the event of substantial changes, we will notify you promptly through additional means of communication.
By continuing to use the Website after an updated Policy is posted, you acknowledge and accept that such posting serves as official notice from the Company. We encourage you to periodically check this Policy to stay informed about the data we collect, how it is used, and to whom it may be disclosed, in accordance with the latest version of this Policy.