CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60.7% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

60.7% of retail investor accounts lose money when trading CFDs with this provider.

Important Information

In line with Article 24 GDPR (EU) 2016/679, taking into account the nature, scope, context and purposes of processing as well as the risks to the rights and freedoms of natural persons, BUX Financial Services Ltd (“BFS”) has implemented appropriate technical and organisational measures to ensure compliance with, and pursuance to, the General Data Protection Regulation (GDPR). This policy stands as the cornerstone of BFS compliance with GDPR and is reviewed and updated accordingly.

General Data Protection Regulation (GDPR)

The EU General Data Protection Regulation (GDPR) replaces the Data Protection Directive 95/46/EC and is designed to harmonise data privacy laws across Europe, to protect and empower all EU citizen’s data privacy and to reshape the way organisations across the region approach data privacy.In line with Article 5 of GDPR, BFS must conform to the following principles at all times.

Lawfulness, fairness and transparencyPersonal data shall be processed lawfully, fairly and in a transparent manner in relation to the data subject.
Purpose limitationPersonal data shall be collected for specified, explicit and legitimate purposes and not further processed in a manner that is incompatible with those purposes.
Data minimisationPersonal data shall be adequate, relevant and limited to what is necessary in relation to the purposes for which it is processed.
AccuracyPersonal data shall be accurate and, where necessary, kept up to date.
Storage limitationPersonal data shall be kept in a form which permits identification of data subjects for no longer than is necessary for the purposes for which the personal data is processed.
Integrity and confidentialityPersonal data shall be processed in a manner that ensures appropriate security of the personal data, including protection against unauthorised or unlawful processing and against accidental loss, destruction or damage, using appropriate technical or organisational measures.
AccountabilityThe controller shall be responsible for, and be able to demonstrate compliance with GDPR.

BFS is at all times responsible for, and able to demonstrate compliance with the aforementioned principles.


This privacy policy applies to the processing activities of BFS. The details of BFS are as follows:

BUX Financial Services Limited: a company registered in England and Wales under register number 03148972. The registered address of the company is 16 Great Queen Street, Covent Garden, London, WC2B 5AH, United Kingdom. It is registered with the UK Information Commissioner under registration number is Z1457804.

BFS provides execution only trading services to retail and professional clients for Spread Betting (‘SB’) and Contract for Difference (‘CFD’) products.

Compliance Monitoring

In order to maintain a high level of compliance in relation to the rules stipulated within this policy, BFS carries out an annual Data Protection compliance audit. Conducting a thorough diagnostic audit allows BFS to recognise any deficiencies or areas for improvement; upon mitigation, ensuring total compliance to GDPR. Examples of the areas covered within an audit include:

  • Data protection governance, and the structures, policies and procedures to ensure GDPR compliance;
  • The processes for managing both electronic and manual records containing personal data;
  • The processes responding to any request for personal data;
  • The technical and organisational measures in place to ensure that there is adequate security over personal data;
  • The provision and monitoring of staff data protection training and the awareness of data protection; and
  • Data audit as per Appendix 2.

Data Subject Rights and Requests

GDPR provides the following rights for individuals:

  • The right to be informed;
  • The right of access;
  • The right to rectification;
  • The right to erasure;
  • The right to restrict processing;
  • The right to data portability;
  • The right to object; and
  • Rights in relation to automated decision making and profiling.

BFS has in place adequate systems and controls to enable and facilitate the application of the eight data subject rights listed above.

When a data subject makes a request, BFS will embark on a pragmatic decision-making process headed up by the Data Protection Officer.

Unless BFS deems requests to be excessive or unnecessary in their nature, no fee will be charged to the data subjects for considering and/or complying with such requests.

Rights to Access

All requests of this nature should be referred to the Data Protection Officer. BFS shall respond to such requests within 30 days.

The data subject has the right to obtain the following information from BFS:

  • The purposes of the processing;
  • The categories of personal data concerned;
  • The recipients or categories of personal data stored for the data subject;
  • The envisaged period for which the personal data will be stored, or, if not possible, the criteria used to determine that period; and
  • The use of any automated decision-making e.g. profiling.

When requested, BFS shall provide a copy of the personal data held. For any further copies requested by the data subject, BFS may charge a reasonable fee based on administrative costs. Where requests are made via electronic means, BFS shall provide the data in a commonly used electronic form.

Right to Rectification

BFS shall ensure all that data subjects are able to exercise their right to obtain from the firm, without undue delay, the rectification of inaccurate personal data concerning him or her.

Right to Erasure

Without undue delay, BFS shall erase personal data of a data subject where requested, and where one of the following grounds applies:

  • The personal data is no longer necessary in relation to the purposes for which it was collected or otherwise processed;
  • The data subject withdraws consent which the processing is based on, and where there is no other legal ground for the processing;
  • The data subject objects to the processing and there are no overriding legitimate grounds for the processing, or where the data subject objects to processing;
  • The personal data has been unlawfully processed;
  • The personal data has to be erased compliant with a legal obligation in the member state law; and/or
  • The personal data has been collected in relation to the offer of information society services.

Article 17 3 (b) GDPR, states that the right to erasure is disapplied where the firm must retain data in order to comply with other applicable regulation. The superseding regulations in BFS case are The Money Laundering Regulations requirement for firms to hold KYC data for 5 years, and MiFID II Article 16 requirements on record keeping. This is referred to in BFS privacy notice.

Right to Restrict Processing

BFS will cease the processing of personal data in the following circumstances:

  • Where an individual contests the accuracy of the personal data, BFS will restrict the processing until the accuracy of the data is verified;
  • Where an individual has objected to the processing and BFS is considering whether it has legitimate grounds to override those of the individual;
  • When processing is found to be unlawful and the individual opposes erasure and requests a restriction instead; and/or
  • If BFS no longer needs the data but the individual requires the data to establish, exercise or defend a legal claim.

Right to Data Portability

The right to portability only applies:

  • To personal data an individual has provided to a controller;
  • Where the processing is based on the individual’s consent or for the performance of a contract; and
  • When processing is carried out by automated means.

To comply, BFS must:

  • Provide the personal data in a structured, commonly used and machine readable format;
  • Provide the data free of charge (unless excessive or unnecessary);
  • If requested and technically feasible, transmit the data directly to another organisation; and
  • Consider possible prejudice of the rights of individuals, where the personal data concerns more than one individual.


Consent must be given by a clear affirmative act, which establishes freely given, specific, informed and unambiguous indication of the data subject’s agreement to the processing of their data. BFS will obtain consent via a written statement, by electronic means, or an oral statement.

BFS requests, manages and records consent pursuant to Articles 5, 6, 7 and 9 of GDPR.

  • BFS checks that consent is the most appropriate lawful basis for processing;
  • BFS makes the request for consent prominent and separate from its terms and conditions;
  • BFS requests a positive opt in;
  • BFS does not use pre-ticked boxes or any other type of default consent;
  • BFS uses clear, plain language that is easy to understand;
  • BFS specifies why it wants the data and its purpose;
  • BFS provides granular options to consent separately to different purposes and types of processing;
  • BFS names its organisation and any third party controllers who will be relying on its consent;
  • BFS ensures that individuals can refuse to consent without detriment; and
  • BFS avoids making consent a precondition of service.

BFS records when and how the firm obtained consent from individuals. The firm also keeps a record of the exact information originally provided.

Exercises BFS may carry out to ensure the appropriate management of consent include the following:

  • BFS regularly reviews consents to check that the relationship, the processing and the purposes have not changed;
  • BFS has processes in place to refresh consent at appropriate intervals, including any parental consents (if so applicable);
  • BFS considers using privacy dashboards or other preference-management tools as a matter of good practice;
  • BFS makes it simple for individuals to withdraw their consent at any time, and publicises how this is done;
  • BFS acts on withdrawals of consent as soon as possible; and
  • BFS does not penalise individuals who wish to withdraw consent.

BFS will not infer consent from silence or inactivity. When the processing of personal data has multiple purposes, BFS will obtain consent for all of these. Where a data subject’s consent is to be given following a request by electronic means, BFS will ensure the request is clear, concise and not unnecessarily disruptive to the use of the service for which it is provided.

Data Privacy by Design

BFS has in place technical and organisational measures which integrate data protection into processing activities.

Privacy and data protection is a key consideration in the early stages of any project BFS undertakes

For example, when:

  • Building new IT systems for storing or accessing personal data;
  • Developing legislation, policy or strategies that have privacy implications;
  • Embarking on a data sharing initiative; and/or
  • Using data for new purposes.

Privacy and data protection considerations will be integrated within BFS risk management methodologies and policies.

Data Protection Impact Assessments (DPIA)

BFS carries out a DPIA where data processing is likely to result in high risk to individuals, for example:

  • Where a new technology is being implemented;
  • Where a profiling operation is likely to significantly affect individuals; and/or
  • here there is large scale processing of special categories of data.

In assessing the level of risk, BFS considers both the likelihood and severity of any impact to the individuals concerned.

BFS ensures that there is a sound understanding of DPIA amongst certain members of the firm.

  • BFS provides training so that all staff understand the need to consider a DPIA at the early stages of any plan involving personal data;
  • BFS existing policies, processes and procedures include references to DPIA requirements, where applicable;
  • BFS understands the types of processing that requires a DPIA;
  • BFS creates and documents a robust DPIA process; and
  • BFS provides training for relevant staff on how to carry out a DPIA.

Breach Reporting

In the case of a personal data breach, BFS shall without undue delay, and where practicable, notify the relevant supervisory authority not later than 72 hours after having become aware of the breach. This is not required where the breach will not likely result in a risk to the rights and freedoms of natural persons. Where the notification is not made within 72 hours, BFS must provide a valid reason for the delay. Relevant supervisory authorities contact details can be found within Appendix 1.

Notifications made by BFS shall at least:

  • ⦁ Describe the nature of the personal data breach;
  • ⦁ Communicate the name and contact details of the relevant department handling the data breach;
  • ⦁ Describe the likely consequences of the personal data breach; and
  • ⦁ Describe the measure taken or proposed to be taken by BFS to address the personal data breach, including, where appropriate, measures to mitigate its possible adverse effects.

Where the personal data breach is likely to result in a high risk to the rights and freedoms of subjects, BFS shall communicate the data breach to the data subject without undue delay.

BFS shall communicate the matter to the data subject in clear and plain language the nature of the personal data breach, detailing at least the information in points (b), (c) and (d) as above.

Record Keeping

BFS employs fewer than 250 people and therefore Article 30 GDPR is technically not applicable. That being said, due to the other data monitoring requirements dictated by GDPR and for best practice, BFS shall maintain a record of processing activities under its responsibility. That record shall contain the following information:

  • ⦁ The name and contact details of the controller;
  • ⦁ The purposes of the processing;
  • ⦁ A description of the categories of data subjects and of the categories of personal data;
  • ⦁ The recipients to whom the personal data has been or will be disclosed including recipients in third counties or international organisations;
  • ⦁ Where applicable, transfers of personal data to a third country or international organisation, including the identification of that third country or international organisation;
  • ⦁ Where possible, the envisaged time limits for erasure of the different categories of data; and
  • ⦁ Where possible, a description of the technical and organisation measures referred to in Article 32(1).

BFS keeps records in writing, and in electronic format.

If requested by the relevant supervisory authority, BFS will make records available immediately.

Complaints Handling

Upon receipt of a data subject complaint, BFS shall internally investigate the complaint. BFS shall inform the data subject of progress and subsequently the outcome of the complaint. This must be communicated within a reasonable period.

Where the complaint cannot be resolved between the data subject and BFS, the data subject may choose to seek redress through mediation, litigation procedure or via a complaint to the supervisory authority. BFS must inform data subjects of their right to complain directly to the relevant supervisory authority.

Appendix 1

Personal dataAny information (including opinions and intentions) which relates to an identified or identifiable natural person
Data controllerA natural or legal person, public authority, agency or other body which, alone or jointly with others, determines the purposes and means of the processing of personal data
Data subjectThe identified or identifiable natural person to which the data refers
ConsentAny freely given, specific, informed and unambiguous indication of the data subject’s wishes by which he or she, by a statement or by a clear affirmative action, signifies agreement to the processing of personal data relating to him or her
International organisationAn organisation and its subordinate bodies governed by public international law, or any other body which is set up by, or on the basis of, an agreement between two or more countries.
Supervisory AuthorityData protection supervisory authority for BUX Financial Services Limited:

Information Commissioner’s Office
Wycliffe House
Water Lane
Tel: +44 (0) 303 123 1113
Fax: +44 (0) 1625 524 510


Appendix 2

Details of the data held by BFS
Reason for holding the data
Methods for obtaining the data
Date that the data was obtained
Individuals responsible for the data
Data storage
Data retention
Data deletion methodology