We would like to inform you that we are about to launch updates to the trading conditions of the accounts, to the iPAMM-Manager Account Ranking and iBroker services in the near future.
Let’s start with the news about Mini and Standard account types. Having carefully analyzed the demand for each type of account and the features which our customers select a particular type of account for, we decided to combine their best qualities into one account, keeping one of the previous names – Standard account.
Basically, the following trading conditions of the new Standard account will be established:
Once new Standard accounts are launched, detailed information on the trading conditions of this type of account will be published in the corresponding section of our website.
Please note that existing Mini accounts will not be closed. This means that our customers who already have Mini accounts can continue to use them according to the previous trading conditions as long as they want. However, once the terms are updated, no new Mini accounts will be opened.
Also, we would like to introduce you to our innovation: a new special account type for VIP customers of our Company. This account type will be available to those customers who perform operations with large volumes of funds and will offer better trading conditions.
Detailed information on the trading conditions of this new account and how to open one will be published on our website at the time of the updates to the Standard and Mini accounts.
In light of such changes, we would like to remind you about the upcoming amendments to the terms and conditions of taking the iPAMM-Manager Test, which we announced on 9 January 2015. Along with these amendments the new Standard account
trading conditions will be applied to the accounts where the iPAMM-Manager Test is being taken.
Now, let’s turn to the iPAMM-Manager Account Ranking. It will be launched along with the updates of trading accounts. We would like to let you know that the testing of the iPAMM system has been completed. Currently, our experts are installing the iPAMM-Manager Account Ranking on our websites and servers, and we expect to launch the services by our deadlines without any glitches.
This also applies to the iBroker service, which is being deployed along with the iPAMM-Manager Account Ranking.
News with detailed information about the launch of those services will be published on our website on the day they start.
We have even more good news for you. We’d like to share some ideas and plans that will be implemented after the launch of all the above-mentioned services!
First of all, we will be updating iPro Marketplace trading platform. We will publish a list of changes and bug fixes within a month that will be implemented in the program in the near future. We have been working on this update for a long time and eventually we managed to implement additional features for iPAMM-Managers!
Some changes will also be made to our website. So very soon we will start adding new sections and updating existing ones. It’s reasonable that the first sections to be added will be “iPAMM-Manager Account Ranking” and “Partnership” sections. Later, we will design the educational section containing video tutorials. We have already done most of the work on the videos and all we need now is to make the final polish!
Finally, another interesting innovation that we believe you may find interesting is that currently we are considering the possibility of using different pricing policies for the services and products of our Company for the markets of different countries. In particular, we want to bring the cost of all of our products to an acceptable level for the people of any country or region. In making our estimates we will rely on the economic growth, average living standards and salary levels of the countries.
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Once the results of the European Central Bank (ECB) meeting are announced on January 22, 2015, the volatility of some financial instruments is expected to increase. Due to that fact, all UBK Markets’ counterparties will raise the margin requirements.
As a result, we have to triple our existing margin requirements for the period of higher volatility from now until January 27, 2015.
Please be advised to adjust the size of your open positions in a timely manner if necessary.
In case of low liquidity it may also happen that the positions can only be closed which means that you will not be able to open new positions within this period of time.
You probably already know what happened in the financial markets on January 15, 2015. That was quite an ambiguous situation: the Swiss National Bank (SNB) abandoned its cap on the value of the Swiss franc within the EUR/CHF currency pair. The chain of events that immediately followed this announcement provoked increasing of Swiss franc by 40% against the euro and the US dollar, which, in turn, immediately caused a huge turmoil in the currency markets and almost complete disappearance of liquidity. Many investors and brokerage firms across the world were pounded with losses because of inability to perform trade operations in conditions of excessive volatility.
Such Swiss franc surge has affected a large number of foreign-exchange brokerage (including world famous brands) and lots of them will have to close as they are unable to meet their financial obligations and repay their customers that suffered losses.
In this light, we would like let you know that:
Finally, we would like to assure you that UBK Markets with its technologies and experience is a reliable retail Forex broker that guarantees your financial success. So the existing situation will help you and many other traders and investors all over the world to find the broker you can really trust!
In light of the approaching planned launch of the iPAMM-Manager Account Ranking by our Company, we would like to let you know several important facts regarding obtaining the iPAMM-Manager status and further participation in the iPAMM-Manager Account Ranking.
First of all, we would like to thank you for all enthusiasm and efforts that you put into the iPAMM-Manager Test. We are very satisfied with the results you achieved and once again we see that our iPAMM technology proves to be accurate and efficient. It’s worth saying that it went beyond our expectations: currently 31 customers has already completed the Test and they are ready to participate in the iPAMM-Manager Account Ranking, and about 50 customers are already on their final stage and they are expected to complete the Test within the next three months.
Thus, at the time of launching the iPAMM-Manager Account Ranking, which will take place at the beginning of March, we will have the minimum required number of participants. We need at least 50 iPAMM-Managers as this will allow the iPAMM technology to show its real potential, which with the increasing number of participants will become more stable.
Now let’s take a look at what is going to be changed in the iPAMM-Manager Test requirements: as soon as the iPAMM-Manager Account Ranking is launched, the forth criteria “Trade Quality” will be added to evaluate your Test results.
We’ve been thinking on how to make the whole process of selecting really motivated and active traders better. Finally we’ve found a way and now we’re ready to introduce an effective tool. “Trade Quality” measures how profitable the transactions carried out by potential iPAMM-Managers are.
The “passing score” of this criterion is as follows: the Customer should make at least 250 trades with profit of at least 150 pips each. We do believe that together with other criteria this would be the most efficient way to determine and select successful traders who are able to show the best results in the Ranking.
Taking into account that the process of obtaining iPAMM-Manager status becomes deeper, we also increase the requirements for other two criteria. Now to complete the Test, it is necessary to make 100,000 pips with the total volume of all trades no less than 75 lots.
All those changes will apply during the launch of the iPAMM-Manager Account Ranking. All participants who have already started or will start the Test before the date of new rules applied will continue to complete their Test under the old rules.
The exact date and time of iPAMM-Manager Account Ranking launch will be published a few days prior to this event. From the moment of its launch new rules will apply for those who start the Test on or after the launch of the Ranking.
During Christmas and New Year holiday period Forex market will be open according to the following schedule:
Trading sessions during the period from December 12, 2014 to January 2, 2015
December 24 — market closes at 07:00 pm UTC;
December 25 — market closed;
December 26 — market opens at 06:00 am UTC;
December 31 — market closes at 07:00 pm UTC;
January 1 — market closed;
January 2 — market opens at 06:00 am UTC.
Please note that due to lack of market liquidity and high market volatility during Christmas and New Year holiday period trading conditions and margin requirements are subject to change and may result in wider spreads and order processing delays.