Privacy Policy

Finqalab (“Finqalab”, “we”, “us” or “our”) respects your privacy and is committed to protecting the information entrusted to us.

This Privacy Policy explains how Finqalab collects, receives, uses, stores, processes and discloses information when you use the Finqalab website, mobile application, digital platform and related services (collectively, the “Platform”), or otherwise interact with us.

By using the Platform or providing information to us, you acknowledge that your information may be handled as described in this Privacy Policy, subject to applicable laws, regulations and regulatory requirements.

This Privacy Policy should be read together with the Finqalab Platform Terms, the Terms and Conditions governing your Trading Account and CDC Sub-Account, and any additional terms applicable to specific products or services.

 

1. INFORMATION WE COLLECT

We may collect or receive different categories of information depending on how you interact with Finqalab and which services you use.

 

 

1.1 Information You Provide

We may collect information that you provide directly to us, including:

• Identity information, such as your name, date of birth, CNIC or other identification information, photographs and other information required for identity verification;
• Contact information, such as your mobile number, email address, residential or correspondence address and other contact details;
• Account and KYC information, including information provided during account opening, verification and onboarding;
• Financial information, including information relating to your bank account, deposits, withdrawals, transactions, holdings and other account-related financial information;
• Tax and regulatory information, including information relating to your tax status, filer status and other information required for regulatory or compliance purposes;
• Profile information, such as your account preferences and other information you provide while using the Platform;
• Communications, including information you provide when contacting customer support, submitting a ticket, responding to surveys or otherwise communicating with us; and
• Any other information that you voluntarily provide to us through the Platform or through other interactions with Finqalab.

 

1.2 Information Relating to Your Account and Transactions

When you use Finqalab’s services, we may receive, generate or maintain information relating to your Account, including:

• orders and transactions;
• securities purchased, sold or held;
• transaction dates and prices;
• deposits and withdrawals;
• portfolio and holdings information;
• dividends and other corporate actions;
• account balances and ledger information;
• historical transaction information; and
• other information generated or maintained in connection with your Account and use of our services.

Some of this information may be received from or maintained by our regulated broker (Next Capital Limited), market infrastructure institutions, financial institutions or other service providers in connection with the provision of our services.

 

1.3 Information We Collect Automatically

When you use the Platform, we may automatically collect certain technical and usage information, including:

• device type and operating system;
• browser and application information;
• IP address;
• unique device or account identifiers;
• date and time of access;
• pages, screens or features accessed;
• interactions with the Platform;
• crash reports and diagnostic information; and
• other technical information necessary to operate, secure and improve the Platform.

We may use cookies, software development kits (SDKs), analytics tools and similar technologies to collect certain technical and usage information, subject to applicable law.

 

1.4 Information We Receive from Other Sources

We may receive information from third parties where necessary or permitted to provide our services, comply with legal and regulatory obligations, or protect the security of the Platform.

These sources may include:

• our regulated broker (Next Capital Limited) and related entities;
• Central Depository Company of Pakistan Limited (CDC);
• National Clearing Company of Pakistan Limited (NCCPL);
• National Database and Registration Authority (NADRA);
• Centralized Know Your Customer (CKO) or other applicable regulatory systems;
• banks and payment service providers;
• identity verification and onboarding service providers;
• technology, security and infrastructure providers;
• analytics and service providers; and
• regulators, government authorities or other persons where permitted or required by law.

 

2. HOW WE USE YOUR INFORMATION

We may use information we collect or receive for purposes including:

• opening, maintaining and operating your account;
• verifying your identity and completing KYC and customer due diligence requirements;
• providing, operating and maintaining the Platform and its features;
• processing and recording transactions, deposits, withdrawals and other account activity;
• providing customer support and responding to your requests;
• providing account information, reports, notifications and other communications;
• complying with applicable laws, regulations, regulatory requirements, court orders and lawful requests;
• preventing, detecting and investigating fraud, unauthorized activity, security incidents and other unlawful activity;
• protecting the rights, property and security of Finqalab, our users and other persons;
• monitoring Platform performance and usage;
• identifying, diagnosing and resolving technical issues;
• analyzing how the Platform is used;
• improving existing services and developing new products, features and functionality;
• generating analytical, statistical and reporting information;
• communicating with you about service updates, new features, products and other information relevant to your relationship with Finqalab; and
• any other purpose which can be reasonably attributed to the services of the Platform.

Where permitted by applicable law, we may also use aggregated, statistical or de-identified information for purposes such as research, analytics, service development and improvement.

 

3. PORTFOLIO AND ANALYTICAL FEATURES

Certain features of the Platform may use information already available through your Account, including transaction, holdings and other account information, to provide analytical, reporting and portfolio-related insights.

For example, Portfolio Analytics may use available account information to generate calculations and insights relating to investment performance, realized and unrealized gains, per-stock returns, sector-level performance, dividends and comparisons against selected market indices.

The use of information for such features does not create a separate requirement for you to provide information that is not otherwise available to Finqalab or its relevant service providers in connection with the provision and operation of your Account.

The accuracy and completeness of analytical outputs may depend on the accuracy, completeness and availability of the underlying information. Where historical or other relevant information is incomplete or unavailable, including where securities or holdings have been transferred from another broker without complete historical data, the resulting analysis may not fully or accurately reflect your actual cost basis or investment performance.

Analytical and performance-related outputs are provided for informational purposes only and do not constitute investment, financial, tax, accounting or other professional advice. Finqalab and Next Capital disclaim any and all liability arising from relying on the analytical and performance-related outputs provided by the Platform.

 

4. HOW WE DISCLOSE INFORMATION

We may disclose information to the following categories of persons or entities, where necessary, permitted or required for the purposes described in this Privacy Policy or under applicable law.

 

4.1 Regulated Entities and Market Infrastructure Institutions

We may share relevant information with our regulated broker (Next Capital Limited), PSX, SECP, CDC, NCCPL, CKO and other market infrastructure institutions or regulatory bodies where required for account opening, KYC, settlement, custody, trading, clearing, reporting, compliance or other regulated activities.

 

4.2 Service Providers

We may share information with third-party service providers that perform services on our behalf, including providers of:

• identity verification and KYC services;
• cloud hosting and infrastructure;
• cybersecurity and fraud prevention;
• payment and banking services;
• customer support;
• communications;
• analytics and performance monitoring;
• software and technology services; and
• other services necessary to operate and improve the Platform.

Such service providers may access or process information only to the extent necessary to provide the relevant services to us and subject to applicable contractual, legal and regulatory requirements.

 

4.3 Affiliates and Business Partners

We may share information with our affiliates and business partners where necessary to provide, support, maintain or improve services, or for other purposes permitted by applicable law.

 

4.4 Regulators, Government Authorities and Law Enforcement

We may disclose information where required or permitted by applicable law, regulation, court order, regulatory requirement or lawful request from a competent authority, including disclosures to SECP, PSX, CDC, NCCPL, FMU, SBP, law enforcement agencies and other government or regulatory bodies.

 

4.5 Legal and Corporate Purposes

We may disclose information where reasonably necessary to establish, exercise or defend legal rights, enforce agreements, investigate suspected violations, protect the security of our Platform or users, or in connection with a merger, acquisition, restructuring, financing, sale of assets or similar corporate transaction.

 

4.6 Aggregated or De-identified Information

We may share aggregated, statistical or de-identified information that does not reasonably identify an individual, where permitted by applicable law.

 

5. DATA RETENTION

We retain information for as long as reasonably necessary to fulfil the purposes for which it was collected, provide our services, maintain appropriate business and financial records, resolve disputes, enforce agreements, protect our rights, and comply with applicable legal and regulatory requirements.

Certain information relating to your trading account, transactions, KYC records and other regulated activities may be required to be retained for periods prescribed by applicable laws, regulations or regulatory requirements, including after your relationship with Finqalab has ended.

The applicable retention period may therefore vary depending on the type of information and the purpose for which it is maintained.

 

6. DATA SECURITY

We take reasonable administrative, technical and organizational measures designed to protect information against unauthorized access, use, alteration, disclosure or destruction.

These measures may include access controls, authentication procedures, encryption and other security measures appropriate to the nature of the information and the risks involved.

However, no method of transmission over the internet or method of electronic storage is completely secure. While we take reasonable measures to protect information, we cannot guarantee the absolute security of information transmitted to or stored by us.

You are also responsible for maintaining the confidentiality of your login credentials and for notifying us promptly if you believe that your account or credentials have been compromised.

 

6.1 Security Incidents 

In the event of a security incident affecting information held by us that is likely to result in a significant risk to you, we will take steps to contain and investigate the incident and may notify you, where required by applicable law or regulatory requirement or where we otherwise consider notification appropriate.

Such notification may be made through the Platform, by email, by SMS or by other appropriate means, and may describe the nature of the incident, the categories of information involved, the measures taken or proposed, and any steps you may wish to take.

We may also be required to report security incidents to SECP, PSX, the SBP, CDC, NCCPL, the relevant broker or other competent authorities in accordance with applicable regulatory requirements. Notification to you may be delayed or skipped where necessary to preserve the integrity of an investigation, to comply with a lawful direction, or to avoid compromising the security of the Platform.

 

7. YOUR CHOICES AND RIGHTS

Subject to applicable laws, regulations and regulatory requirements, you may have certain rights in relation to information held by Finqalab.

These may include the ability to:

• request access to certain information held about you;
• request correction of inaccurate or incomplete information;
• update certain account or contact information;
• withdraw consent where processing is based on consent, subject to applicable limitations;
• manage certain communications preferences; and
• raise questions or concerns regarding our handling of your information.

Some information may not be capable of being deleted, modified or withdrawn upon request where Finqalab or its regulated partners are required to retain or process such information under applicable laws, regulations, regulatory requirements, legal proceedings or legitimate record-keeping obligations.

Requests relating to information maintained by our regulated broker (Next Capital), CDC, NCCPL or other third parties may need to be addressed to the relevant entity in accordance with its applicable procedures.

To exercise an applicable right or raise a privacy-related request, you may contact us using the details provided in the “Contact Us” section below.

 

8. COMMUNICATIONS

We may send you service-related communications, including account notifications, transaction-related information, security alerts, technical notices, updates to our terms or policies, and other communications necessary to provide our services.

We may also send communications about new features, products, educational content, research, offers or other information that may be relevant to your relationship with Finqalab.

You may be able to manage certain promotional communications through the preferences or unsubscribe options provided in those communications. We may continue to send communications that are necessary for the operation, security or administration of your account or the Platform.

 

8.1 Recording of Calls and Voice Interactions

Telephone calls and other voice interactions between you and Finqalab, including calls relating to orders, instructions, account servicing and customer support, may be recorded and retained. Recordings may be used to verify instructions received, maintain records of transactions and communications, resolve queries and disputes, monitor and improve service quality, train personnel, prevent and investigate fraud or unauthorized activity, and comply with applicable laws, regulations, regulatory requirements and lawful requests.

Certain interactions may be handled, in whole or in part, by automated or voice-based systems or AI based systems, including systems that use speech recognition and automated response technologies. Where such systems are used, your voice input and the resulting transcripts or records may be processed by us and by our technology service providers for the purposes described in this Privacy Policy.

Recordings and related records may be retained for such periods as are required under applicable laws, regulations and regulatory requirements, or as otherwise reasonably necessary for the purposes described above.

 

9. COOKIES AND SIMILAR TECHNOLOGIES

We may use cookies, SDKs, pixels, log files and similar technologies on our website and Platform to:

• operate and secure our services;
• remember preferences;
• understand how users interact with the Platform;
• measure performance;
• identify and resolve technical issues; and
• improve our services and user experience.

Third-party service providers may also use similar technologies when providing services to Finqalab, subject to their applicable terms and privacy policies.

You may be able to control cookies through your browser or device settings. Disabling certain technologies may affect the functionality of some services.

 

10. THIRD-PARTY SERVICES AND LINKS

The Platform may contain links to or integrations with third-party websites, applications or services.

This Privacy Policy does not govern the privacy practices of third parties. You should review the privacy policies of any third-party service before providing information to it.

Where you use a third-party service in connection with Finqalab, information shared with that service may be governed by that third party’s own terms and privacy policy.

 

11. ELIGIBLE PERSON

Finqalab’s services are intended for persons who are eligible to open and maintain an account under applicable laws and regulatory requirements.

We do not knowingly seek to collect personal information from persons who are not eligible to use our services.

If you believe that information has been provided to us by a person who is not eligible to use the Platform, please contact us so that we can review the matter and take appropriate action where required.

 

12. DATA RELATING TO REGULATED SERVICES

Certain information processed in connection with your trading account, CDC Sub-Account, KYC, trading activity, settlement, custody and other regulated services may be subject to additional terms, privacy requirements, record-keeping obligations and disclosures prescribed by SECP, PSX, CDC, NCCPL, CKO, the relevant broker or other competent authorities.

Where such requirements apply, they will continue to govern the relevant information and may require Finqalab or its regulated partners to collect, retain, process or disclose information notwithstanding any request to restrict or delete such information.

Nothing in this Privacy Policy limits any obligation imposed by applicable law, regulation or regulatory authority.

 

13. CHANGES TO THIS PRIVACY POLICY

We may update this Privacy Policy from time to time to reflect changes in our services, technology, legal or regulatory requirements, or our information-handling practices.

When we make material changes, we may notify you through the Platform, website, email, or other appropriate means, where required.

The updated Privacy Policy will be posted on our website with its revised effective date.

Your continued use of the Platform after an updated Privacy Policy becomes effective will be subject to the updated Privacy Policy, to the extent permitted by applicable law.

 

14. CONTACT US

If you have questions, concerns or requests regarding this Privacy Policy or Finqalab’s handling of your information, please contact us through the support channels made available through the Platform or at:

Email: support@finqalab.com 

Address: 2nd Floor, Imperial Court, Dr Ziauddin Ahmed Road, Karachi, Pakistan

We will review and respond to privacy-related requests in accordance with applicable laws, regulations and our internal procedures.