Just a heads up, Element and Matrix are the same thing. Matrix is the name of the protocol and Element is the predominant front end application to access the network.
As for the services themselves. Everything is end to end encrypted, so as long as you only communicate with other Matrix users in encrypted rooms you won't have that data exposed to any prying eyes or be subject to any ToS (it can bridge to other platforms, pretty much anything from Discord to Telegram to SMS, which due to the nature of how external services work on a fundamental level, could potentially expose your data to whomever runs your homeserver, and would also subject you to those third party service ToS' as well)
The main public homeserver, matrix.org, should be avoided, as it is very full and will provide a poor user experience, not to mention would be subject to whatever homeserver T&C they may have.
Just a heads up, Element and Matrix are the same thing. Matrix is the name of the protocol and Element is the predominant front end application to access the network.
As for the services themselves. Everything is end to end encrypted, so as long as you only communicate with other Matrix users in encrypted rooms you won't have that data exposed to any prying eyes or be subject to any ToS (it can bridge to other platforms, pretty much anything from Discord to Telegram to SMS, which due to the nature of how external services work on a fundamental level, could potentially expose your data to whomever runs your homeserver, and would also subject you to those third party service ToS' as well)
The main public homeserver, matrix.org, should be avoided, as it is very full and will provide a poor user experience, not to mention would be subject to whatever homeserver T&C they may have.