Binary Xchange Privacy & Security
Access to a client’s personal information is restricted to the personnel who must have knowledge of such information in order to provide certain services to our clientele. We implement a series of electronic, procedural and physical safeguards which adhere to all applicable laws to ensure for the optimum safety of clients’ personal information.
The Company must be alerted of any and all changes to a client’s identification details immediately.
Clients may be asked to provide us with certain identification documents in addition to other necessary documents we may require, as a precondition for performing transactions through our site. If clients do not provide these documents as and when prompted, the Company reserves the right to freeze the client’s account for any period of time, or even permanently shut down the account. Without prejudice to the aforementioned, the Company may, at its sole discretion, refuse to open an account for any or no reason for any person or corporation.
As part of the measures we take to safeguard our clients’ private information and accounts, the Company will implement and update advanced data protection procedures.
The use of our website with a client’s username and password is the sole responsibility of that client and the Company shall not be held responsible for any such use, or for validation that it is the client who is in actuality operating his/her Account.
Binary Xchange invests substantial resources in ensuring its clients information is protected, as we view security in all senses as something of the utmost importance.
To ensure authorized access only, Binary Xchange employs a two tier top class firewall protection: one at the server level and one at the application level.
For user authentication and data transfer, Binary Xchange uses an advanced SSL by Verisign.
The application servers, i.e. the servers that handle our clients’ online activity, are separate from the transaction information, which is stored on a different data server.
For data recovery, integrity and replication, Binary Xchange uses two different server farms, which are physically located apart from each other. Data must be synchronized in both locations, and thus cannot be tampered with. All information stored on the servers is encrypted.
The most common method for securing the exchange of data is encryption. The way encryption works is by encoding the data transferred over the communication line in a special way at the sending end, and decoding it using the same algorithm in reverse at the receiving end. The data being transferred through the communication channel is of no meaning or use to an eavesdropper, even if he does successfully intercept the data. Unless the interceptor can decode the data, it cannot be read. The length of the encryption key determines the encryption strength, while the key used to encrypt/decrypt the data is in the form of a very long number. The longer the number, the more difficult it is, exponentially, to decode the data. Lengths of keys vary between 32, 64, 128, 256 bit and so on. The minimum length for what is considered good security is 64-bit. When selecting a very long key, computing power must be taken into consideration as more is required to encode/decode the message, and at times this can cause the processing time to be slow. Different software protocols are used for privacy and data integrity, but they are overall handled in the same way as described above.
You can access our system by entering a username and password unique to you. This data is personal and must not be revealed to others on your end. Please take care that when you log into the system using your personal details, no unauthorized person is in a vicinity where they can view this information.
Your personal password must never be revealed to anyone, and this includes service personnel. If anyone requests your password for whatever reason, do not reveal it to them and notify customer service immediately.