Privacy Policy

Please read the privacy statement (“Privacy Statement”) below. This Privacy Statement sets out how Velocity Trade may collect, use or disclose information about you when you interact with Velocity Trade and your associated rights. By signing the Application Form or selecting ‘accept/agree’ online, you consent to the matters outlined in the Privacy Statement. 

Personal information

If you complete the Application Form; trade online with us; or communicate with us (which includes the use of our website, speaking to us on the telephone or sending us correspondence or information by post or email to us), you will be supplying Velocity Trade (of Level 8, Phillips Fox Tower, 209 Queen Street, Auckland 1010 New Zealand) with, and Velocity Trade will be collecting, information that is “Personal Information” which we will deal with in accordance with the Privacy Act 1993 (New Zealand) (‘the Privacy Act’).

Collection and disclosure of personal information
We may collect and use your Personal Information for the following purposes:

• assessing your application;
• assessing the credit and other exposure that Velocity Trade has to you (see below for more details regarding the use of your Personal Information for credit checking purposes);
• marketing of similar products and services;
• determining future product and business strategies and to develop Velocity Trade's products and services;
• communicating with you in relation to Velocity Trade's products and services including in relation to any Transaction made and/or your Account;
• providing products and services to you; and
• Velocity Trade's hedging arrangements or Transactions with Hedging Counterparties.

When we communicate with you for the above purposes, you consent to receiving communications from us in any form, including email.

Your Personal Information may be disclosed to entities associated with Velocity Trade, Velocity Trade's counterparties or third party product or service providers for the above purposes. It may also be disclosed to any financial institution nominated by you and may be disclosed to your financial adviser if you request so in writing.

We will not disclose your Personal Information to any other third party except where required to or permitted to by law, where you have authorised us to do so, or where disclosure is connected to the purposes for which the information was collected.

You can, by contacting us, instruct us not to disclose your Personal Information to companies related to us.

If you do not wish to be kept informed of Velocity Trade's marketing or promotional activities electronically, please contact us via email. We do not sell Personal Information to other organizations.

While the information we ask you to supply is not required by law, we may not be able to assess your application if the information is not supplied.

Credit Checks

Velocity Trade may provide your Personal Information to one or more third-party credit reporting agencies to conduct a credit check on you which will be used for the purposes of determining your credit worthiness. As a result of Velocity Trade's enquiry to that/those credit reporting agencies:

• That/ those credit reporting agencies may provide Velocity Trade with information, including Personal Information, about you;
• Velocity Trade may provide Personal Information to the credit reporting agencies and the credit reporting agencies will hold the Personal Information on their systems and use it to provide their credit reporting service, which may include providing the Personal Information to third parties that may use the credit reporting agencies’services; and
• Velocity Trade may use one or more credit reporting agencies’ services in the future for purposes related to the provision of Velocity Trade’s services to you. This may include using that/ those credit reporting agencies’ monitoring services to receive updates if any of the information held about you changes.

If you fail to perform your obligations under the Client Agreement or any transaction, information about that default may be given to one or more credit reporting agencies, and the credit reporting agencies may give information about your default to other customers of that/ those credit reporting agencies.

Velocity Trade will not provide any credit reporting agencies with information regarding the specific Foreign Exchange Transactions that you enter into.

Website

When you visit our website, we (or our service providers in connection with the website) may use technology to collect information to assist us with administering the website and with enhancing the content and facilities on the website. An example of the technology that we use is “cookies”.

A “cookie” is a packet of information placed on a user's computer by a website. The purposes for which cookies are used on this website may include:

• enabling access to online services;
• managing advertising - we may use advertising companies to deliver our online advertising. When you see one of our ads on a third party website, cookies are sometimes used to collect information about what pages you visit and the type of software you are using; and
• monitoring web traffic - we may use tracking companies to gather information about how people are using the Velocity Trade website, this information includes time of visit, pages visited, and some system information about the type of computer you are using.

You can configure your browser to accept all cookies, reject all cookies, or notify you when a cookie is sent. Each browser is different, so check the "Help" menu of your browser to learn how to change your cookie preferences.

If you disable the use of cookies on your web browser or remove or reject specific cookies from this website or linked websites then you may not be able to gain access to all of the content and facilities on this website.

Your rights

Under the Privacy Act 1993, you have rights to access and to correct the Personal Information we hold about you.

• You can contact us by phone, fax or email including requesting access to your information. In normal circumstances, we will give you full access to your information. However, there may be some legal or administrative reason to deny you access, in which case we will tell you of that reason. Further, we may impose a charge to give you full access where your request requires the compilation of information that has been archived or is significant in volume.
• If you have any concerns about the accuracy of your Personal Information, please contact us.

Your Personal Information will be held by us at Velocity Trade’s offices, Level 8, Phillips Fox Tower, 209 Queen Street, Auckland 1010, New Zealand. Your Personal Information will be retained only for as long as necessary to fulfil the purposes for which it was collected.

If you have any questions about this Privacy Statement or requests relating to your Personal Information, please contact our Privacy Officer by emailing help@velocitytrade.com, by phoning +64 9 918 8800, or by sending a fax to +64 9 309 6283.

In accordance with the Anti-Money Laundering and Counter-Terrorism Act 2006 (Commonwealth of Australia), Velocity Trade has an obligation to collect information about and verify the identity of its clients. This information is referred to as Know Your Client information or KYC information. Velocity Trade will carry out its customer identification and verification procedures in accordance with the Privacy Act 1988 (Commonwealth of Australia).