Position Insurance Terms and Conditions
- The present Terms and Conditions (hereby referred to as “the Terms”) govern all actions in respect of the Position Insurance Offer, (hereby referred to as “PI Offer”), whereby eligible clients of Green Pole Ltd operating under the brand name of Ubanker (hereby referred to as “the Company”), will receive limited position(s) insurance coverage according to the present Terms.
- In order to participate in the present PI Offer. By accepting the PI Offer, you unconditionally acknowledge that you have read, understood and intend to be legally bound by these Terms, as well as the general terms and conditions that apply to your trading account as those can be found on the UBanker website at www.ubanker.com.
- The PI Offer allows you to receive a percentage of your Net Loss back to your trading account on some of your position(s), in case your position is closed in loss (hereby referred to as “Insured Position(s)”), based on the present Terms. The PI Offer may be offered to specific clients, according to their experience and trading habits.
- The Company reserves the right to withdraw or restrict any of the PI Offer at any time without notice.
- The Company reserves the right to amend any of the present Terms or the whole of the PI Offer at any time after notifying its clients. Upon such change and in case you do not wish continue using the PI Offer, you may contact Customer Support in order to request the removal of the PI Offer.
- It is recommended that you always read the relevant Terms before you accept to receive the PI Offer from the Company.
- Definition of the Spread: The difference between the bid (sell) and ask (offer) prices.
- Definition of the Net Loss: The total Positions loss minus the Spread value.
Conditions of Eligibility
- The PI Offer is available only to existing to clients that have a trading account with the Company, sufficient experience and meet the criteria of these Terms, upon the approval of the Compliance Department.
- The PI Offer is available only on the PROfit trading platform, upon indication of the account holder of his choice to implement the PI Offer on a specific transaction by clicking the relevant field.
- The PI Offer is not transferable.
The PI Offer
- The PI Offer is valid for up to 5 (five) positions and up to 14 (fourteen) days from opening the first insured position.
- Prior to the opening of the Insured Position(s), you will receive the exact details and the Terms of the Insured Position(s).
- Upon the closure of the Insured Position(s), the Company will reimburse only the Percentage Coverage of the Net Loss of each Insured Position(s), as per the definition stated above.
- The calculated Percentage of the Net Loss will be reimbursed back to your trading account as a withdrawable equity.
- The maximum amount to be reimbursed, upon the calculation of the Percentage Coverage of the Net Loss, per Insured Position is $300 (US Dollar Three Hundred).
- It is provided that the PI Offer cannot be enabled in conjunction with other trading benefits for the same position.
- The Percentage Coverage resulting from the PI Offer as per the present Terms, will be credited back to your trading account and may be withdrawn at any time.
- The number of your Insured Positions will be adjusted as per paragraph 14 accordingly or cancelled, if the required Deposit Amount is reduced following a withdrawal request. Any Insured Position(s) opened prior to the reduction of the Deposit Amount, due to a withdrawal, will not be affected.
- In the event that you are not coming in good faith and the main activity of your trading account is not for trading but rather for hunting the PI Offer, the Company, reserves the right to reverse the trading transactions and close your trading account upon notification.
- All Terms of this PI Offer shall be governed by the laws and regulations of Vanuatu.