Privacy Policy

1. Introduction

MKX Virtual Assets Broker and Dealer Services LLC ("MKX") is a company incorporated in the United Arab Emirates (UAE), owns and operates MKX.ae, which includes our website, APIs, and mobile applications (collectively referred to as the “MKX Site” or “MKX Platform”. Users can buy and sell digital assets through this platform. This Privacy Policy outlines the information we collect from you via the MKX Platform and explains how we handle that information.

2. Company Information

MKX Virtual Assets Broker and Dealer Services LLC has a registered address as R260 Building, Shop 01, Al Rigga, Deira, Dubai, UAE. MKX provides payment services that enable you to purchase digital assets using your credit or debit cards for transactions on the MKX Platform.

If you have any questions about this Privacy Policy, please contact us via our Support Page or with the following details:

• Email: contact@mkx.ae
• Phone: +971 4 297 7655

3. Scope of the Privacy Policy

This Privacy Policy applies to all websites, APIs, and mobile applications under the MKX.ae domain and the MKX brand. If we make any material changes to our privacy practices, we will post a revised Privacy Policy on this page, or we may notify you directly.

4. Consent and Updates

By accessing or using the MKX Platform, you agree to this Privacy Policy. If you do not accept and agree with our Privacy Policy, you must not access or use the MKX Platform. Continued use of the MKX Platform following any changes to this Privacy Policy constitutes your acceptance of those changes.

5. Information We Collect

5.1 Personal Data

We collect the following types of personal data:

• Identification Information: Full Name, address, email address, phone number, date of birth, national ID, passport, and other identification documents, self-portrait photograph (for identity verification purposes)
• Financial Information: Bank account details, transaction history, and related financial data. Bank Statement and/or Salary Certificate to verify source of funds

5.2 Non-Personal Data

• Technical Information: Location - IP address, browser type, browser type time zone, and usage data collected through cookies and similar technologies.
• Log Information: This information is generated through the client’s use of MKX’s Services. This includes device information, location information, system activity, internal information related to pages visited on the MKX’s website including the full Uniform Resource Locators (URL), date and time of visit, page response times, length of visit on each page, page interaction information (clicks, scrolling, and mouse-overs) and download errors

6. Use of Personal Data

MKX uses your personal data for the following purposes:

• Account Management: To create, manage, and maintain your MKX account.
• Service Provision: To facilitate transactions, provide customer support, and enhance our services.
• Regulatory Compliance: To comply with legal obligations, including anti-money laundering (AML) and combating the financing of terrorism (CFT) regulations.
• Marketing and Communication: To send you updates, promotional materials, and other information related to our services, with your consent.

7. Legal Basis for Processing

Our processing of your personal data is based on the following legal grounds:

• Contractual Necessity: Processing necessary to perform our contract with you.
• Legal Obligation: Compliance with legal and regulatory requirements.
• Legitimate Interests: Processing necessary for our legitimate business interests, such as fraud prevention and service improvement.
• Consent: Processing based on your explicit consent for specific purposes.

8. Data Sharing and Disclosure

MKX may share your personal data with:

• Regulatory Authorities: To comply with legal obligations and regulatory requirements.
• Service Providers: To facilitate our services through third-party providers bound by confidentiality obligations.
• Financial Institutions: For transaction processing and verification.
• Security Partners: To prevent fraud and ensure security.

9. Data Retention

We retain your personal data only as long as necessary to fulfil the purposes for which it was collected, comply with legal obligations, and resolve disputes. Typically, data is retained for up to 8 years.

10. Data Security

MKX adheres to industry-standard physical and electronic procedures to safeguard and secure clients' personal and non-personal information. To protect clients' data, MKX employs a range of security measures including encryption, firewalls, penetration testing, and access controls. Our servers are housed in highly secure facilities under continuous surveillance.

Access to information is restricted to authorized employees and third parties who need the information to operate, develop, and enhance MKX's services. While we strive to use the most advanced security measures available, no method of transmission over the internet or electronic storage is completely secure. Consequently, MKX cannot guarantee absolute security.

11. Data Subject Rights

You have the following rights regarding your personal data:

• Right to Access: Request access to your personal data.
• Right to Rectification: Request correction of inaccurate or incomplete data.
• Right to Erasure: Request deletion of your data under certain conditions.
• Right to Restriction: Request temporary restriction of data processing.
• Right to Data Portability: Receive your data in a structured, commonly used format.
• Right to Object: Object to data processing based on legitimate interests or direct marketing.
• Right to Withdraw Consent: Withdraw your consent for data processing at any time.

12. International Data Transfers

If personal data is transferred outside the UAE, we ensure appropriate safeguards are in place to protect the data in accordance with applicable laws.

13. Third-Party Access and Disclosure

We may disclose your information to third parties, including but not limited to service providers, business partners, and regulatory authorities, as necessary to fulfil the purposes described above.

14. Cookies and Tracking Technologies

We use cookies and similar tracking technologies to collect and use data about your usage of our services. You can control cookies through your browser settings and other tools.

15. Data Breach Response

In the event of a data breach, we will promptly notify affected individuals and relevant authorities in accordance with applicable laws.

16. Privacy of Minors

MKX does not allow individuals under the age of 18 to register for our services. We do not knowingly collect personal data from individuals under 18. If we become aware of such collection, we will take steps to delete the data.

17. Confidentiality Agreements

We have strict policies and procedures to ensure that client-related information is used solely for its intended purposes and in compliance with confidentiality agreements and regulatory requirements.

18. Compliance with UAE PDPL

MKX adheres to the UAE Personal Data Protection Law (PDPL) by ensuring transparency in data processing, maintaining lawful grounds for processing, minimizing data collection, implementing robust security measures, and respecting data subject rights.

19. Data Protection Officer (DPO)

MKX will appoint a DPO to oversee compliance with data protection laws and act as a point of contact for data protection matters.

20. Training and Awareness

We provide comprehensive training to our staff on data protection and privacy requirements, ensuring adherence to internal policies and regulatory stipulations.

21. Cooperation with Regulatory Authorities

MKX cooperates with regulatory authorities to ensure compliance with data protection laws and responds to inquiries and investigations as required.

22. Accessing, Editing, and Removing Your Information

After creating an account, you can access and edit your information through the log-in dashboard. While you can update your information, please note that you cannot opt out of our data collection practices through the dashboard. If you wish to opt out of our data collection practices or request the removal of your information, please contact us via the contact form provided on our website.

Please reach out to our customer support team if you have any questions or require further information at contact@mkx.ae.