Regulation

ThinkPrime is a trading name of TF Global Markets (Aust) Pty Ltd, the holder of Australian Financial Services Licence number 424700.

Privacy Policy

  1. INTRODUCTION
    1. Your privacy is important to us. TF Global Markets (Aust) Pty Ltd (ABN 69 158 361 561) (referred to as ‘TF Global’, ‘we’, ‘our’, ‘us’) is bound by the Privacy Act 1988 (‘Privacy Act’), including the Australian Privacy Principles (‘APPs’) and recognises the importance of ensuring the confidentiality and security of your personal information.All third parties (including clients, suppliers, sub-contractors, or agents) that have access to or use personal information collected and held by TF Global must abide by this Policy.In this Policy:
      • ‘Disclosing’ information means providing information to persons outside TF Global;
      • ‘Our services’ means our financial, educational and other services associated with trading in derivatives and foreign exchange contracts;
      •  ‘Personal information’ means information or an opinion relating to an individual, which can be used to identify that individual;
      • ‘Privacy Officer’ means the contact person within TF Global for questions or complaints regarding TF Global’s handling of personal information;
      • ‘Sensitive information’ is personal information that includes information relating to a person’s racial or ethnic origin, political opinions, religion, trade union or other professional or trade association membership, sexual preferences and criminal record, and also includes health information; and
      • ‘Use’ of information means use of information within TF Global.
  2. WHAT KINDS OF PERSONAL INFORMATION DO WE COLLECT AND HOLD?
    1. We may collect and hold a range of information about you to provide you with our services, including:
      • your full name;
      • contact details;
      • date of birth;
      • employment details;
      • country of residency;
      • financial and trading information;
      • identification details such as passport or driver’s licence details;
      • proof of address such as utility bills and banks statements;
      • trading preferences;
      • banking details; and
      • other personal information we require to meet your needs and provide our services to you.
  3. HOW DO WE COLLECT PERSONAL INFORMATION?
    1. We generally collect personal information directly from you. For example, personal information will be collected through our application processes, forms and other interactions with you in the course of providing you with our services, including when you visit our website, call us or send us correspondence.
      We may also collect personal information about you from a third party, such as identity verification services, your introducing broker or marketing agencies. If so, we will take reasonable steps to ensure that you are made aware of this Policy if we have not done so previously. We may also use third parties to analyse traffic at our website, which may involve the use of cookies. Information collected through such analysis is anonymous.TF Global will not collect sensitive information about you without your consent unless an exemption in the APPs applies. These exceptions include if the collection is required or authorised by law or necessary to take appropriate action in relation to suspected unlawful activity or serious misconduct.If you do not provide us with the personal information we request, we may not be able to provide you with our products or services, or meet your needs appropriately.TF Global does not give you the option of dealing with us anonymously, or using a pseudonym. This is because the nature of services and the associated regulatory obligations mean that it is illegal or impractical for TF Global to deal with individuals who are not identified.
  4. UNSOLICITED PERSONAL INFORMATION
    1. TF Global may receive unsolicited personal information about you.  We do our best to destroy or de-identify all unsolicited personal information we receive, unless it is relevant to TF Global’s purposes for collecting personal information, as set out in this Policy. We may retain additional information we receive about you if it is combined with other information we are required or entitled to collect. If we do this, we will retain the information in the same way we hold your other personal information.
  5. WHO DO WE COLLECT PERSONAL INFORMATION ABOUT?
    1. The personal information we may collect and hold includes (but is not limited to) personal information about the following individuals:
      • clients;
      • potential clients;
      • visitors to our website;
      • introducing brokers; and
      • service providers or suppliers.
  6. WHY DOES TF GLOBAL COLLECT PERSONAL INFORMATION?
    1. We collect and hold personal information about you so that we may:
      • provide you with our services;
      • review and meet your needs;
      • provide you with information relating to derivatives and foreign exchange contracts that we believe may be relevant or of interest to you;
      • let you know about other products or services we offer, send you information about our special offers or invite you to events;
      • consider any concerns or complaints you may have;
      • comply with relevant local and overseas laws, regulations and other legal obligations, such as the Anti-Money Laundering and Counter-Terrorism Act 2006 and the Corporations Act 2001;  and
      • help us improve the products and services offered to our clients and enhance our overall business.

      We may use and disclose your personal information for any of these purposes. We may also use and disclose your personal information for secondary purposes which are related to the primary purposes set out above, or in other circumstances authorised by the Privacy Act.
      Sensitive information will be used and disclosed only for the purpose for which it was provided (or a directly related secondary purpose), unless you agree otherwise or an exemption in the Privacy Act applies.

  7. WHO DO WE DISCLOSE PERSONAL INFORMATION TO?
    1. We may disclose personal information to:
      • a related entity of TF Global;
      • an agent, professional advisor or service provider  we engage to provide us with administrative, marketing, financial, insurance, research and other services such as our counterparty banks, liquidity providers, marketing agencies and IT service providers;
      • your introducing broker or money manager;
      • organisations involved in a transfer or sale of our assets or business;
      • financial institutions involved in managing our payments, such as banks;
      • regulatory bodies, government agencies, law enforcement bodies and courts; and
      • anyone whom you authorise us to disclose it to.

      If we disclose your personal information to service providers that perform business activities for us, they may only use your personal information for the specific purpose for which we supply it. We will take steps to ensure that all contractual arrangements with third parties adequately address privacy issues and will make third parties aware of this Policy.

  8. SENDING INFORMATION OVERSEAS
    1. We are likely to disclose your personal information to our affiliates located in the United Kingdom and Germany. We also use cloud data storage providers, which means your personal information will be stored on servers that may be located overseas in countries such as Hong Kong, the United Kingdom and the United States.We will not disclose your personal information to overseas recipients without your consent unless:
      • we have taken reasonable steps to ensure that the recipient does not breach the Privacy Act, or the APPs; or
      • the recipient is subject to a similar information privacy regime.
  9. MANAGEMENT OF PERSONAL INFORMATION
    1. TF Global recognises the importance of securing the personal information of our clients. We will take steps to ensure your personal information is protected from misuse, interference or loss, and unauthorised access, modification or disclosure.Your personal information is generally stored in our computer database. Any paper files are stored in secure areas. In relation to information that is held on our computer database, we apply the following guidelines:
      • passwords are required to access the system and passwords are routinely checked;
      • data ownership is clearly defined;
      • we change employees’ access capabilities when they are assigned to a new position;
      • employees have restricted access to certain sections of the system;
      • the system automatically logs and reviews all unauthorised access attempts;
      • unauthorised employees are barred from updating and editing personal information;
      • all computers which contain personal information are secured both physically and electronically;
      • data is encrypted during transmission over the network; and
      • print reporting of data containing personal information is limited.
  10. DIRECT MARKETING
    1. TF Global may only use personal information we collect from you for the purposes of direct marketing without your consent if:
      • the personal information does not include sensitive information; and
      • you would reasonably expect us to use or disclose the information for the purpose of direct marketing; and
      • 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.

      If we collect personal information about you from a third party, we will only use that information for the purposes of direct marketing if you have consented (or it is impracticable to obtain your consent), and we will provide a simple means by which you can easily request not to receive direct marketing communications from us. We will draw your attention to the fact you may make such a request in our direct marketing communications.

      You have the right to request us not to use or disclose your personal information for the purposes of direct marketing, or for the purposes of facilitating direct marketing by other organisations. We must give effect to the request within a reasonable period of time. You may also request that we provide you with the source of their information. If such a request is made, we must notify you of the source of the information free of charge within a reasonable period of time.

  11. IDENTIFIERS
    1. We do not adopt identifiers assigned by the Government (such as driver’s licence numbers) for our own file recording purposes, unless one of the exemptions in the Privacy Act applies.
  12. HOW DO WE KEEP PERSONAL INFORMATION ACCURATE AND UP-TO-DATE?
    1. We are committed to ensuring that the personal information we collect, hold, use and disclose is relevant, accurate, complete and up-to-date.We encourage you to contact us if any personal information we hold about you needs to be updated.  If we correct information that has previously been disclosed to another entity, we will notify the other entity of the correction within a reasonable period. Where we are satisfied information is inaccurate, we will take reasonable steps to correct the information within 30 days, unless you agree otherwise. We will not charge you for correcting your personal information.
  13. ACCESSING YOUR PERSONAL INFORMATION
    1. Subject to exceptions in the Privacy Act, you can access the personal information that we hold about you by contacting the Privacy Officer. We will generally provide access within 30 days of your request.   If we refuse to provide you with access to the information, we will provide reasons for the refusal.We will require identity verification and specification of what information is required. An administrative fee for search and photocopying costs may be charged.
  14. UPDATES TO THIS POLICY
    1. This Policy will be reviewed from time to time to take account of new laws and technology, and changes to our operations and the business environment. In case of doubt, personal information we collect and hold is governed by the current version of this Privacy Policy on our website at the relevant time.
  15. OUR RESPONSIBILITIES
    1. It is the responsibility of management to inform employees and other relevant third parties about this Policy.  Management must ensure that employees and other relevant third parties are advised of any changes to this Policy. All new employees are to be provided with timely and appropriate access to this Policy, and all employees are provided with training in relation to appropriate handling of personal information. Employees or other relevant third parties that do not comply with this Policy may be subject to disciplinary action.
  16. MAKING A COMPLAINT
    1. If you have any questions about this Policy, or wish to make a complaint about how we have handled your personal information, you can lodge a complaint with us by:
      • telephoning – 1300 390 515
      • writing – TF Global Privacy Officer, Level 11, 636 St Kilda Rd, Melbourne VIC 3004
      • emailing – [email protected]

 

If you are not satisfied with our response to your complaint, you can also refer your complaint to the Office of the Australian Information Commissioner by:

  • telephoning – 1300 363 992
  • writing – Director of Complaints, Office of the Australian Information Commissioner, GPO Box 5218, SYDNEY NSW 2001
  • emailing – [email protected]

Collection Statement

We are Committed to Client Privacy

TF Global Markets (Aust) Pty Ltd (ABN 69 158 361 561) (‘TF Global’) is committed to ensuring the confidentiality and security of your personal information. Our Privacy Policy, which provides further information about how we handle your information and is available for your review.

  1. How do we collect personal information?
    1. We generally collect personal information directly from you. For example, personal information will be collected through our application processes, forms and other interactions with you in the course of providing you with our derivative and foreign exchange trading services, including when you visit our website, call us or send us correspondence. We may also collect personal information about you from a third party, such as identity verification services, your introducing broker or marketing agencies.
  2. Why do we collect personal information?
    1. We collect and hold personal information about you so that we may:
      • provide you with our financial, educational and other services associated with trading in derivatives and foreign exchange contracts;
      • review and meet your ongoing needs;
      • provide you with information relating to derivatives and foreign exchange contracts that we believe may be relevant or of interest to you;
      • let you know about other products or services we offer, send you information about our special offers or invite you to events;
      • consider any concerns or complaints you may have;
      • comply with relevant local and overseas laws, regulations and other legal obligations, such as the Anti-Money Laundering and Counter-Terrorism Act 2006 and the Corporations Act 2001;  and
      • help us improve the products and services offered to our clients and enhance our overall business.
  3. What if you don’t provide your personal information?
    1. If you do not provide us with the personal information we request, we may not be able to provide you with our products or services, or meet your needs appropriately.
  4. Disclosure of your personal information
    1. We may disclose personal information to:
      • a related entity of TF Global;
      • an agent, professional advisor or service provider  we engage to provide us with administrative, marketing, financial, insurance, research and other services such as our counterparty banks, liquidity providers, marketing agencies and IT service providers;
      • organisations involved in a transfer or sale of our assets or business;
      • financial institutions involved in managing our payments, such as banks;
      • regulatory bodies, government agencies, law enforcement bodies and courts; and
      • anyone whom you authorise us to disclose it.
  5. Sending information overseas
    1. We are likely to disclose your personal information to our affiliates located in the United Kingdom and Germany. We also use cloud data storage providers, which means your personal information will be stored on servers that may be located overseas in countries such as Hong Kong, the United Kingdom and the United States.We will not disclose your personal information to overseas recipients without your consent unless:
      • we have taken reasonable steps to ensure that the recipient does not breach the Privacy Act 1988 (‘Privacy Act’), or the Australian Privacy Principles (‘APPs’); or
      • the recipient is subject to a similar information privacy regime.
  6. Your rights
    1. Our Privacy Policy contains information about how:
      • you may access the personal information we hold about you;
      • you may seek the correction of your personal information; and
      • you may complain about a breach of the Privacy Act, including the APPs; and
      • TF Global will deal with a privacy complaint.

Benchmarks

Benchmark 1: Client Qualification

ThinkForex operates a client qualification policy that is intended to ensure that new Australian resident clients are adequately qualified to trade in any product offered through ThinkForex.

In order to be deemed sufficiently qualified to trade with ThinkForex, potential clients must prove that they are able to satisfy one of the three following criteria:

  1. Have sufficient trading experience; or
  2. Pass a multiple choice quiz designed to test the extent of their knowledge in trading and financial markets; or
  3. Complete a training course that meets the minimum requirements.

1. Sufficient Trading Experience

In order to establish that an individual has had sufficient trading experience, potential clients must prove all of the following. That they:

  1. Have operated, within the past three (3) years, an OTC margin forex or CFD account, through an ASIC regulated provider similar to ThinkForex*; and
  2. Have had at least two months of trading experience; and
  3. Operated as an active trader**.

If a potential client fails to completely satisfy all three of the above criteria, then they either attempt the quiz (part 2) or attend a training course (part 3)

2. Multiple-choice quiz:

n order to qualify as a potential client for ThinkForex, you must record a pass score (of 70% or greater). The quiz consists of 10 (ten) multiple choice questions, with at least one correct answer required from each of the following sections:

  1. Previous experience in investing in financial instruments, including securities and derivatives.
  2. Understanding of the concepts of leverage, margins and volatility.
  3. Understanding of the nature of CFD trading.
  4. Understanding of the processes and technologies used in trading.
  5. Preparedness to monitor and manage the risks of trading.
  6. ThinkForex has a large pool of suitable questions for each category from which the quiz questions are selected. These questions are altered each time the quiz is taken.

If a mark of 70% or greater is achieved, you will be deemed qualified to trade through ThinkForex. If a pass grade is not achieved, then you will be required to complete a training course, as per part 3.

3. Training Course:

To be deemed eligible to trade with ThinkForex, an individual must undertake and complete a training course that satisfies the following criteria:

  1. A duration of 8-16 hours
  2. If the course does not meet the minimum time required, then it will be deemed an insufficient qualification
  3. Regulated by ASIC
  4. The provider must operate under an AFSL that allows them to provide general financial product advice.
  5. Provides ongoing support and coaching for a minimum 6 (six) week period.
  6. You must provide ThinkForex with a copy of your certificate of completion.

If a training course fulfills all three of the above requirements, then an individual will be deemed qualified to trade with ThinkForex.

If you cannot fully satisfy one of the aforementioned elements, then you will not be considered qualified to be a client with ThinkForex.

* Call ThinkForex for clarification regarding the eligibility of your provider.

** To be considered ‘actively operating’ as a trader, you must have made at least 20 trades during the time that your account has been open, and you must be assessed for compliance by providing your trading statement to ThinkForex.

Benchmark 2: Opening Collateral

The minimum opening balance requirement for all ThinkForex accounts is $250 AUD.

ThinkForex provides credit card funding for the ease of providing secure electronic payment system to its clients. This is used for both instantaneously funding accounts and meeting margin calls.

ThinkForex does not encourage the use of leverage products with borrowed funds.

ThinkForex does not accept “cash equivalents” as opening collateral (e.g. no securities as deposits).

ThinkForex has chosen not to comply with ASIC’s suggested benchmark on Opening Collateral requirements, which suggest limiting initial funding by credit card to a maximum of $1000.

Benchmark 3: Counterparty risk (hedging)

ThinkForex implements strict controls to ensure that the procedures it adopts when managing exposure to market risk are followed. Further, ThinkForex ensures that the counterparties, with which it transacts to hedge client trades, are of appropriate financial standing. ThinkForex only hedges its positions through prime brokers that hold a minimum capital of 10 million USD (equivalent and are regulated under either ASIC , FCA or a Central Bank in their country of origin.

‘Hedging’ refers to the process where a financial service provider such as ThinkForex reduces or removes its exposure to market risk by entering into a corresponding transaction with another entity. ThinkForex’s main Prime Brokerage accounts are with CitiBank PLC, Saxo Bank Australia and GFT UK.

Furthermore, ThinkForex has enforced trading limits with its prime brokers, which are automatically applied and can only be adjusted by the CEO of ThinkForex, upon request.

Benchmark 4: Counterparty risk (Financial resources)

AFSL Compliance

Monthly financial reports are prepared to ensure compliance with ThinkForex’s AFSL Conditions and the financial requirements which are contained in ASIC Regulatory Guide 166.

An annual financial audit is also conducted by an ASIC approved auditor.

Stress testing of capital adequacy

The capital requirements and surplus position of ThinkForex is monitored on a daily basis. ThinkForex’s risk exposure that our clients face is calculated by our position keeper and reconciliation software in real time. This software is monitored by risk management staff, 24 hours a day, 5 days a week at all times whilst the foreign exchange markets are operating. Our free margin levels with our hedging counterparties are displayed at all times, showing how much market movement or increase in client position size can be sustained with the current level of funds.

Daily stress testing is conducted and alerts have been established at pre-defined levels to ensure that appropriate remedial action is taken in the event of market movements that are adverse to ThinkForex’s financial position.

Benchmark 5: Client Money

This document has been produced by ThinkForex to explain how client money is handled. The purpose is to provide clients with an insight into how client money is reconciled and segregated so that they are better informed to assess the safety of their funds in relation to other financial product providers. All client free margin* is held with National Australian Bank (NAB) and Commonwealth Bank of Australia (CBA), all of which are Australian Authorised Deposit-taking Institutions (ADIs).

The ThinkForex platform automatically emails clients when they fall below their required free margin level. When a client’s free equity falls below 50% of margin requirement, the client’s open positions will be instantly closed out. This helps ensure that the one client’s funds are not used to fund the positions of other clients.

ThinkForex creates an individual trading account for each client, which allows a complete record of transactions to be maintained, so that every client account is monitored and followed. Any default or outstanding payment is immediately followed up, to ensure that the client account stays in balance.

The Compliance Officer will ensure that all unencumbered client funds are placed in segregated trust accounts and invested in accordance with the Australian Client Money Rules, ASIC Regulatory Guide 212 (titled ‘Client money relating to dealing in OTC derivatives’) and ASIC Regulatory Guide 227, where appropriate. We ensure that reconciliations of client monies are conducted and reviewed on a daily basis.

*Free Margin is the amount of funds not in use as margin requirements for holding open positions. For example, If you have equity of $1,000 on your account and the total margin requirements are $250, the free margin amount is $750.

Benchmark 6: Suspended or halted underlying assets

Foreign exchange markets trade continuously. They open at 05:00pm American EST* Sunday evening (Monday morning 11 am AEST) and close at 05:00pm, American EST** on Friday (Saturday morning 11 am AEST). They are open 24 hours during this period.

Prices are continuously streamed during this period. Because foreign exchange is not an exchange-traded product, it is not possible to suspend or halt the streaming of these prices.

For our futures, commodities and index products, ThinkForex will halt client trading and the use of client money in an asset or derivative when a trading halt exists for the underlying asset, or trading in the underlying asset has been suspended through an exchange or otherwise.

* Eastern Standard Time (America)

Benchmark 7: Margin Calls

ThinkForex provides all clients with the option of applying a ‘stop loss’ on any order they place, in order to prevent losses exceeding their desired maximum loss on a position. This does not guarantee that a ‘stop loss’ order will be executed at the desired ‘stop loss’ price.

This email instructs the client to either close some positions or deposit more funds to cover the margin requirement. Furthermore, when a client’s free equity falls below 50% of free initial margin requirement, the client’s open positions will be instantly closed out, reducing the likelihood that clients enter negative equity.