Privacy Policy

May 26th 2024, 5:11:32 pm

This Privacy Policy constitutes a part of Ibx Exchange (IBXPEERS MARKETPLACE LTD RN:6965508) Terms of Use (the “TOU”). The terms used in this Privacy Policy shall have the same meanings as in the TOU except as otherwise provided.

This Privacy Policy explains how Ibx Exchange and Ibx Exchange Operators collect, use, process, disclose, share, transfer, and protect user’s personal information obtained through the Ibx Exchange’s platform and its partners. The terms “we”, “us”, and “our” refer to Ibx Exchange and Ibx Exchange Operators. When we ask for certain personal information from users, it is because we are required by applicable laws or government orders to collect such information, and/or it is relevant for our specified operational purposes.

Please carefully read the full content of this Privacy Policy. When visiting Ibx Exchange, regardless of whether or not you register for or log in to Ibx Exchange Services, you acknowledge, understand, and consent to all articles described in this Privacy Policy.

Please note that Ibx Exchange Services available on our website and mobile app are not intended for minors below the age of 18 years and we do not knowingly collect data relating to minors.
We will not use your personal information for any purpose not covered in this Privacy Policy or the TOU (including any other business rules of Ibx Exchange) without prior notification to you and your consent.

This Privacy Policy has incorporated elements from the General Data Protection Regulation (GDPR) and Nigerian Data Protection Regulation (NDPR). We utilize standard contract clauses, rely on the European Commission's adequacy decisions about certain countries, as applicable, and obtain your consent for these data transfers to third countries if required by applicable laws.



The following are the types of information we collect when you register for and use Ibx Exchange Services:


Information You Provide to Us When Registering

When you create an Ibx Exchange Account, you provide us with your email address, name, date of birth, nationality, ZIP code, country code, gender, utility bills, home address, password, and other information to help us identify you (“Identification Information”). You can also choose to add a phone number for SMS or a Google Authenticator account for Two-Factor Authentication to improve account security. If you agree to use biometric authentication methods to log in or use Ibx Exchange services, such as fingerprint recognition and facial recognition, you need to provide us with the corresponding information, such as the fingerprint information and facial information, and your consent to the processing of your biometric data


Information We Collect to Comply with Regulatory Policies

To comply with global industry regulatory standards, local industry regulatory standards, and government orders in different aspects such as Anti-Money Laundering (AML), Know-Your-Customer (KYC), and Counter-Terrorist Financing (CTF), Ibx Exchange is required to collect personal information in addition to Identification Information, such as identity documents (including passport, driver's license, national identity card, voters card, tax ID number, passport number, driver's license details, national identity card details, visa information, etc.), proof of address, source of fund declaration,  BVN, purposes of fund documents, and source of wealth “Regulation Information”). We will explain to you the content and requirements of such personal information each time we collect information and we reserve the right to change the content and requirements of the collected information as the global industry regulatory standards, local regulatory standards or government orders change. This provision applies to both personal, merchant, and institutional Ibx Exchange Accounts


Information We Collect as You Use Ibx Exchange Services


Service Usage Information

Through your access to and use of Ibx Exchange Services, we may monitor and collect tracking information related to usage including but not limited to your phone number, access date and time, device type and device identification, operating system and hardware setting, browser type, and information derived from SIM card, network operator, IP address, GPS, base station and WLAN(“Service Usage Information”. This information may be directly obtained by Ibx Exchange or through third-party service providers. The collection of Service Usage Information helps our systems to ensure that our interface is accessible for users across all platforms and can aid during criminal investigations.


Transaction Information

For all personal, merchant, and institutional user accounts, we may collect transaction information as you use Ibx Exchange Services, including but not limited to deposit snapshots, account balances, trade history (such as transaction initiation, payment method, price, quantity, time, withdrawal and authorization information), order activity, and distribution history “Transaction Information”. We collect such transaction information to monitor suspicious trading activity for user fraud protection, legal case resolution, and any other purposes disclosed in this Privacy Policy.


Communication Information

You agree that, for the purposes disclosed in this Privacy Policy, we are entitled to collect and use the information contained in or related to the communication that you send to us or generated through your use of Ibx Exchange Services( “Communication Information”) which includes:

1. All messages, requests, or other information you send in the course of your contact with Ibx Exchange;

2. All communications and file attachments in connection with your transactions with other users or other data generated primarily through your communications with them.


Financial Information:

You agree that, for the purposes disclosed in this Privacy Policy, we are entitled to collect and use the information contained in or related to your financial information when you use Ibx Exchange Services, including without limitation, bank account information, payment card details, transaction history, trading data, and/or tax identification. We collect such financial information to monitor suspicious financial activity for user fraud protection, legal case resolution, and any other purposes disclosed in this Privacy Policy.




Information Ibx Exchange Automatically Collects

Most of the personal information that we collect is directly provided by you. In the following situations, we will collect and process the information about you:

. Where you registered from, log in or visit Ibx Exchange, or use any service of

Ibx Exchange;


Where you voluntarily complete any user survey or provide feedback to us via email or any other channel;


Where you use cookies of the browser or software in visiting or using our website or mobile apps;


Other situations where we may automatically collect your information as mentioned in this Privacy Policy or our TOU (including the Ibx Exchange PlatformRules, the same below).


Information Collected from Third-party Sources

We may collect information about you from third party sources, including but not limited to, the following channels:


Public databases, credit bureaus, and ID verification partners;


Marketing partners and resellers;


Advertising partners and analytics providers.


Anonymized and Aggregated Data

Anonymization is a data processing technique that removes or modifies personal information so that it cannot be associated with a specific individual. Except for this section, none of the other provisions of this Privacy Policy applies to anonymized or aggregated personal data (i.e. information about our Users that we combine so that it no longer identifies or references an individual User). We may use anonymized or aggregate customer data for any business purpose, including to better understand Users’ needs and behaviours, improve our products and services, conduct business intelligence and marketing, and detect security threats. We may perform our analytics on anonymized data or enable analytics provided by third parties.



We use the information we collect about you for the following purposes or in the following ways:


To Provide and Maintain Ibx Exchange Services

We use the information collected to deliver, maintain, and provide better Ibx Exchange Services (including but not limited to processing transactions) and verify Users’ identities.

We use the IP address and unique identifiers stored in your device’s cookies to help us authenticate your identity and activities and provide Ibx Exchange Services. Given our legal obligations and system requirements, we cannot provide you with all or some of Ibx Exchange Services without data including; Identification Information. We may also share your unique identifiers with companies and organizations that act as our agents, affiliates, and/or professional advisers or companies and organizations that assist us in processing or otherwise fulfilling transactions that you have requested;


To Protect Our Users

We use the information collected to protect our platforms, Users’ accounts, and archives. We use IP addresses and cookies to protect against automated abuse such as spam, phishing, and Distributed Denial of Service (DDoS) attacks. We analyze trading activities to detect suspicious behaviours as early as possible to prevent potential fraud and loss of funds to bad actors.


To Comply with Legal and Regulatory Requirements

Concerning the privacy and security of personal information, we will use the information in compliance with our legal obligations, government requests, and reasonable user-generated inquiries. In cases where it is strictly necessary, such as to protect the vital interests of the Users or other natural persons, to fulfill the purpose of public interest, to pursue our reasonable interests (but not to damage the interests of the Users), we may process your personal information without your consent. Except for the situations stated in this Privacy Policy or the TOU, we will not disclose or provide any of your personal information to third parties without a review from our legal team and/or prior consent from the User.


For Measurement, Research, and Development Purposes

We actively measure and analyze data to understand the way you use and interact with Ibx Exchange Services. This review activity is conducted by our operation teams to improve our Platforms’ performance continually and to resolve issues with the user experience. In addition, we use such information to customize, measure, and improve Ibx Exchange Services and the content and layout of our websites and apps, and to develop new services. We continuously monitor activity information within our systems and our communications with users to look for and quickly fix problems.


To Communicate with You

We use personal information collected, like your phone number or email address to interact with you directly when providing customer support on a ticket or to keep you informed on logins, transactions, account security, and other aspects. Without collecting and processing your personal information to confirm each communication, we will not be able to respond to your submitted requests, questions, and inquiries. All direct communications are properly kept at Ibx Exchange or the service provider designated by Ibx Exchange, to be reviewed for accuracy, to be kept as evidence, or to be used to perform other statutory or contractual obligations.


To Enforce Our TOU and Other Agreements

The collected information is also used to continually and actively enforce our TOU and other agreements with our Users, including but not limited to reviewing, investigating, and preventing any potentially prohibited or illegal activities that may violate the foregoing provisions, or disclose the relevant information to a third party in accordance therewith.

Ibx Exchange reserves the right to suspend or terminate the provision of any Ibx Exchange Services to any User found to be engaged in activities that violate our TOU and other agreements with our Users.


To Facilitate Corporate Acquisitions, Mergers, or Transactions

We may process any information regarding your Ibx Exchange Account and use of Ibx Exchange Services as necessary in the context of corporate acquisitions, mergers, or other corporate transactions.


For Marketing and Advertising

We may share your personal information with our marketing partners for targeting, modeling, and/or analytics as well as marketing and advertising.


For Rebates

We may share the information collected, including but not limited to your Identification Information and Transaction Information, with your referrer for rebates and other benefits.


For Any Other Purpose

We may disclose your personal information for any other purpose and will request your consent. We will only use your 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 data for an unrelated purpose, we will notify you and we will explain the legal basis which allows us to do so. Please note that we may process your data without your knowledge or consent, in compliance with the above rules, where this is required or permitted by law.



If we think you may like specific Ibx Exchange Services or products and services of our partners, we hope to keep you informed about such products or services. If you agree to receive the above marketing information, you can choose to receive it at any time in the future. You have the right to ask us at any time to stop contacting you for marketing purposes or to send relevant information to you. If you do not want to be contacted for marketing purposes in the future, please click on the unsubscribe link at the bottom of the marketing email and submit your request to unsubscribe. Where you opt out of receiving marketing messages, this will not apply to service messages that are directly related to the use of our Services (e.g. maintenance, change in the terms and conditions, and so forth).

We will get your opt-in consent before we share your data with any third party for marketing purposes.



Ibx Exchange has kept your personal information safe using fault-tolerant secured storage with industry-standard encryption and implemented many security measures to ensure that your information is not lost, abused, or altered, including, but not limited to:


Physical Measures

Materials containing your personal information will be stored in a locked place.


Electronic Measures

Computer data containing your personal information will be stored in the computer systems and storage media that are subject to strict log-in restrictions


Management Measures

Only authorized employees are permitted to come into contact with your personal information and such employees must comply with our internal confidentiality rules for personal data. We have also imposed strict physical access controls to buildings and files.


Technical Measures

Encryption technology such as PCI Scanning and Secured Sockets Layer Encryption may be used to transmit and store your personal information. We use various currently available general security technologies and supporting management systems to minimize the risks that your information may be disclosed, damaged, misused, accessed without authorization, disclosed without authorization, or altered.


Other Measures

Our web server is protected by the “firewall”.

Please note that it is impossible to guarantee 100% security of information. As such, we request that you understand the responsibility to independently take safety precautions to protect your personal information. You agree that we shall not be liable for any information leakage and other losses not caused by our intention or gross negligence, including but not limited to hacker attack, power interruption, or unavoidable technical failure, to the maximum extent permitted by law. If you suspect that your personal information has been compromised, especially account and password information, please lock your Ibx Exchange Account and immediately contact the Ibx Exchange Customer Support team at [email protected]

Unless otherwise stipulated by law or the TOU, you agree that we have the right but not the obligation to retain all the collected personal information for the duration of your Ibx Exchange Account for as long as reasonably necessary to fulfill the purposes we collected it for. We may retain your data for a longer period in the event of a complaint or if we reasonably believe there is a prospect of litigation concerning our relationship with you. To determine the appropriate retention period for personal data, we consider the amount, nature, and sensitivity of the personal data, the potential risk of harm from unauthorised use or disclosure of your data, the purposes for which we process your data, and whether we can achieve those purposes through other means, and the applicable legal, regulatory, tax, accounting or other requirements.

In some circumstances, we will anonymise your data (so that it can no longer be associated with you) for research or statistical purposes, wherein we may use this information indefinitely without further notice



You understand that we have the right to have all or some of the collected personal information transferred to or stored in other countries or regions than your country of nationality, your country of residence, or the country where the server is, without your specific consent, under the following circumstances:


if it is necessary to protect, process, analyze, and reasonably use the personal information;


if it is necessary to enforce the TOU and other agreements with our Users;


if it is necessary for the public interest;


if it is necessary to establish, exercise, or defend the rights of us, our partners, or other Users;


other circumstances required by law or government orders.

You also have the right to request a transfer of your data to you or a third party. We will provide to you, or a third party you have chosen, your data in a structured, commonly used, machine-readable format. Note that this right only applies to automated information that you initially provided consent for us to use or where we used the information to perform a contract with you.



Privacy Policies of Non-Ibx Exchange Websites

If you visit other third-party platforms, partner’s websites, or apps via the links on Ibx Exchange, you should agree with and abide by their separate and independent privacy policies. We do not control these third-party sites and we are not responsible for the content or the activities therein. Privacy Policies of Ibx Exchange

This Privacy Policy applies to all platforms, websites, and departments of and Ibx Exchange ecosystem. If you visit any link to any sub-platforms of Ibx Exchange, you should agree with and abide by the separate and independent privacy policies of such sub-platforms. If the privacy policy of any sub-platform conflicts with this Privacy Policy, the privacy policy of such sub-platform shall prevail.



We hope to ensure that you are fully aware of the data protection rights that you enjoy. Unless otherwise required by law or government orders, each User has the following rights:


Right of Access

You have the right to access or obtain copies of your personal information. We may charge a reasonable fee for providing the access service.


Right to Rectification

You have the right to correct personal information that you deem inaccurate. You also have the right to ask us to complete the personal information that you deem incomplete within a reasonable limit.


Right to Erasure (Right to be Forgotten)

You have the right to request the erasure of your data under certain circumstances.


Right to Object

Under certain circumstances as required by Law or as specifically reminded by us, you have the right to object to the processing of your personal information; however, you understand that such objection to the processing may prevent us from providing you with some of Ibx Exchange Services.


Right to Data Portability

Under certain circumstances, as required by Law or as specifically reminded by us, you have the right to request us to transmit the personal information that we collect to another body, or directly to you. We may charge a reasonable fee for providing the transmission service. We may need to request specific information from you to help us confirm your identity and ensure your right to access your data (or to exercise any of your other rights). This is a security measure to ensure that personal data is not disclosed to any person who has no right to receive it. We may also contact you to ask you for further information on your request to speed up our response



From time to time, Ibx Exchange may revise this Privacy Policy to reflect changes in Law or our personal data collection, processing, and use practices. Changes to this Privacy Policy will be announced by posting on You shall regularly review the Privacy Policy and pay attention to its revisions. If you do not agree with the revised content, you shall stop accessing Ibx Exchange immediately. When an updated version of the Privacy Policy is released, your continued access to Ibx Exchange means that you agree to the updated content and abide by the updated Privacy Policy.



We are committed to respecting the freedoms and rights of all our Ibx Exchange Users. Should you have any questions or concerns regarding this Privacy Policy, or if you would like to file a data protection request, please contact our Support, at[email protected] or [email protected].

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