PAMM Account Terms & Conditions

1. PAMM Account Terms

The PAMM account Terms, jointly with the Account Opening Agreement, Risk Disclaimer, and Terms of Business include all the provisions and conditions provided to the Client by the Company for the use of PAMM accounts.  Reading and understanding all of the above documents is a mandatory requirement in order to access the PAMM service. The client’s registration as a Manager or an Investor will be considered by the Company as an official confirmation that all documents were read, understood and accepted.

All transactions performed by the Manager on PAMM accounts are subject to the Terms and Conditions of the aforementioned account opening agreement, Risk Disclosure and Terms of Business.

The JD Capital PAMM account program is not an asset management tool for Investors. This service provides the opportunity to follow the trading strategies of the Manager, who manages their own personal capital through a specific PAMM account, with the Investor’s own capital. The investor, voluntarily, at their own risk, selects the Manager pursuant to a Public Offer. All decisions of acceptance or rejection of the Offer are a personal matter of each potential investor and are received without any recommendation or solicitation by the Company.

The Company has no right to disclose any personal information about the managers, as any registered Managed PAMM account is a personal account of the Company’s customer and therefore its owner’s details are privileged information, which cannot be disclosed to third parties. Based on this, any claims and/or requests that may be brought against the Company on behalf of investors relating to the legal and professional competence level of managers will be rejected outright.

An Investor accepting the Manager Offer confirms that he/she understands and accepts the nature of inherent risks to the transactions in the foreign exchange market. The Company therefore states to the investor that it does not and will not guarantee the recurrence of rates of return that have been made by the Manager in the past.

All trading on the PAMM accounts can only be performed by the Manager on the basis of such terms. The Company will reject all claims of the Investor(s) that the manager failed to comply with their recommendations.

All transfers of funds between the investor’s personal accounts and PAMM trading accounts are carried out only on the basis of requests from Investors or persons authorised to do so by the investor and acting under the power of attorney. The manager cannot influence the decision making for the inflow or outflow of investor funds or prevent them from being executed by the Investor.

The Investor has no right to bring a claim against the Company’s trading operations conducted in the PAMM account. Only the manager, according to procedures set by the Company, may submit a claim for consideration of improper performance of the Company’s Trading Terms.

The Company reserves the right to terminate the provision of the PAMM service to any manager at any time upon its sole discretion. The company may reject any request of Managers or Investors to provide the motives or reasons for such a decision. Such a decision, in relation to any Manager, cannot be used by Customers as a fact which can harm the Company, its employees or owners, in the media.

All records of trading transactions carried out in the Managed Accounts will be placed in the Traders Room Client Area according to the corresponding PAMM accounts at the time of the trade closing.

The transfer of the client PAMM investment account from one referral group to another is not allowed. The company allows the change of the existing group, on an exceptional basis, only in case there is no trading history in the account.

2. PAMM Accounts

PAMM accounts are designed to allow the application of strategies as set by the Manager, who manages his/her own capital in trading in the Forex and Financial markets, in relation to the Investor’s capital (or part of the capital). The manager performs trades on PAMM accounts, which consist of that Manager’s funds and the Investor’s capital.

The manager has the ability to:

a)      Carry out trading transactions on PAMM accounts on the instruments offered by the Company.

b)      Perform non-trading transactions in the Traders Room Client Area -> My Investments, within the ‘Investments’ section.

c)      Establish the Manager Offer

d)      Obtain information about Investors Balances.

e)      Withdraw funds from his/her Manager Capital Account (when applicable).

The Manager has no right or possibility to request the deposit or withdrawal of funds to or from the Investor Accounts.

All PAMM account calculations, deposit and withdrawal of funds, crediting and debiting of performance fees are performed by the Company.

3. Manager Account Registration

A client who wants to register as a manager is required to fill out a PAMM account opening form. The Company considers the act of filling and submitting this form as an unconditional acceptance of the terms on this form. The necessary conditions for registration of a Manager PAMM Account are the following:

a. Opening and verifying a Traders Room client profile.

b. Opening a PAMM Manager account via JD Capital:

  • Specification of Manager’s Nickname
  • Specification of Strategy’s Trading Name
  • Specification of Collateral (used for investors only)
  • Specification of Performance Fee
  • Trading Style Description and other requirements

Failure to satisfy one or more of the above requirements will result in the rejection of the registration application.

The Fund Manager will receive an acceptance email with the login details after successful registration. Unless otherwise specified by Manager. Client is permitted to open up to 5 Manager Accounts. The Company reserves the right to limit the number of Manager Accounts and/or remove, suspend or terminate any account upon its sole discretion.  The company reserves the right to take any precautionary measures deemed as necessary in order to protect the best interests of the PAMM Program without prior notice. In particular the Company has the right, but not limited to, proceed with the following actions:

  • Modify the PAMM Master Account leverage
  • Modify the PAMM Master Account Stop Out Level
  • Restrict the number of investors a PAMM master account can have at any given time
  • Restrict the amount of funds a PAMM master account can accept from investors at any given time
  • Request a PAMM master account to cease operations

Accounts with no trading activity for more than 6 months are subject to deactivation.

The PAMM Manager Account status is changed to ‘Active’ only when Manager invests an amount which is equal or higher than the set Collateral.

NOTE: The PAMM Manager Accounts that are not funded and activated within a period of 3 months are removed from the Traders Room client area.

A Manager needs to invest an amount, which is equal or higher than the Collateral Amount. This amount will be reflected in the Manager’s Capital Account. This account is opened automatically for the Manager upon successful registration of the PAMM Manager Account.

A PAMM Manager can generate a deposit into their Manager Capital Account from the Traders Room.

The PAMM Manager Account will only be listed and fully activated upon depositing sufficient funds (equal or higher than the corresponding Collateral) into the Manager Capital Account. If the PAMM Manager withdraws an amount that brings the Manager Capital Account Balance below the Collateral Amount, prior to the commencement of any trading activity the PAMM Manager account will be disabled.

If available manager balance (deposits + profit) is less than the collateral, he/she cannot make any withdraw request.

4. Manager’s Offer

An Offer is a proposal to use strategies, used by Managers to perform trading transactions by any Client of the Company. Each offer consists of a set of parameters used by the Company for the calculation of the remuneration of the Manager, as well as a set of conditions for the formation and operation of Managed accounts.

Acceptance or rejection of any Offer regarding the investment in any PAMM account is an entirely voluntary decision of the customer and does not entail the conclusion of any contract, material reciprocal relationship or any other commitment binding the Company, Manager and Investors.

The offer parameters are mentioned below in section 5.

Note: The Manager cannot influence the process of funds withdrawal from the Investor’s account, which is carried out by the Company upon the request of the Investor. 

5. PAMM Account Parameters

Trading Name – must agree to and abide by the JD Capital PAMM rules.

Collateral – This amount will also equal the Manager Capital required Amount. (This is normally referred to as Collateral)

Stop Loss Level – Withdrawal of all funds are made instantly when the stop loss level for investors is reached or if the investment balance falls below the stop loss value.

Performance Fee – It is the percentage of profits payable to Fund Manager.

Performance Fee percentage applicable to the Fund Manager account is directly linked to the Collateral amount selected:

  • 1,000 USD Collateral requirement – 5% to 30% Performance Fee options available.
  • 5,000 USD and higher Collateral requirement – 5% to 50% Performance Fee options available.

Manager’s Capital – This amount equals the Collateral.

Always Reduce – partial closure of open trades on a PAMM Manager Account is executed to allow for a withdrawal of funds. 

6. Rollover

Rollover is a daily procedure for PAMM accounts. This procedure commences at UTC 00:30 server time and its duration, depending on the amount and composition of the PAMM accounts, may take 20 – 30 minutes to finish.

NOTE: In the event of volatile market conditions (i.e. scheduled market news), rollover time may be changed to another suitable hour on the same day.

There are 5 rollovers during week, first being at Tuesday at 00:30 UTC and last being on Saturday 00:30 UTC.

Each Rollover includes:

  • Value of Investment that is calculated based on P/L
  • Processing of Pending Deposits
  • Processing of Pending Withdrawals
  • Processing of Performance Fess if applicable
  • Recalculation of new Investor Accounts Participation if applicable

Note: When an investor requests a withdrawal, all such withdrawal requests are processed at PAMM rollover. If there is a withdrawal delay then this has a delay in X days before money is returned to investment account.

Calculation of the positions, obtained profit and loss and the payment for overnight positions carrying is calculated for each managed account based on the Investor Account Participation. 

7. Deposits

An Investor can complete a Deposit into multiple PAMM Manager Accounts via the Traders Room Client Area.

A PAMM Manager can generate a deposit into his/her Manager Capital Account via the Traders Room client area.

All deposits into PAMM Manager Accounts are processed only at PAMM rollover

Pending deposits can be cancelled until the PAMM rollover.

Investors will not be able to view the open trades of the PAMM Manager but they can follow the balance update of the Manager account.

The value of the deposited funds cannot be less than the Collateral. 

8. Withdrawals

An Investor may generate a request for withdrawal of funds from an account in the ‘My Investments’ section within Traders Room.

The Manager may generate a request for withdrawal of funds from his/her Manager Capital Account as long as it does not bring the account balance below the Collateral before trading commences. The withdrawal can be requested via the ‘My Investments’ section within Traders Room.

If there are no open trades within the PAMM Manager Account, the corresponding Investor account withdrawals are processed at rollover only.

In the case that there are open trades in the PAMM Manager Account, withdrawals are processed at the rollover as long as the balance does not drop below the collateral.

Investors can cancel a withdrawal request any time before the corresponding rollover time from the Traders Room.

All withdrawal requests are processed and withdrawn once the rollover has passed.

Calculation of the positions, obtained profit and loss and the payment for overnight positions carrying is calculated for each managed account based on the Investor Account Participation.

While placing a withdrawal, investors are prompted with the following two options:

  • Standard Withdrawal – Investor enters the amount to be deducted from their equity at the rollover. In case account equity drops below the amount requested, withdrawal of all available equity will be processed.
  • Account Closure – System will automatically enter the Amount to Cash Out. Withdrawal of all available equity at the relevant rollover time will be processed, regardless of the amount requested.

In the case that a withdrawal is requested by an Investor while there are open trades in the corresponding PAMM Manager account the following actions will take place: The withdrawal will be processed at the relevant rollover time

NOTE:    When partial trade reduction is not possible due to the MT4 minimum contract size, trade will be closed fully during the PAMM rollover.

9. Stop Loss Level

Stop Loss Level applies on all PAMM Manager Accounts irrespective of the Collateral Amount requirement. Stop Loss Level is the percentage of Equity that an investor can keep secured in case of loss on the Investor Account. As the equity drops to the specified Stop Loss Level, all open trades relative to the Investor Account are closed and remaining balance is withdrawn.

Stop Loss Level may be adjusted during deposit/withdrawal to/from investment account and can be set to a maximum of 20% of the deposit amount/balance. It can also be adjusted at any time but will only have effect on next rollover.

In the case of full stop out of the PAMM Manager Account, no Stop Loss Level will be triggered. The Company is not liable in case no Stop Loss Level is triggered during the full stop out on the PAMM Manager Account. If this happens, Stop levels are triggered for investments. PAMM Manager could requested to disable Stop Loss Function. The Company is not liable for any loss amount and actual amount in case of volatile market conditions.

Due to high volatility, Stop Loss Level can be triggered below or above expected amount. The Company is not liable for the difference between expected stop loss amount and actual amount in case of volatile market conditions.

Investors can readjust the Stop Loss Level at any time but realised at rollover only.

10. PAMM and Managed Accounts Calculations

The Company calculates the Investor’s balance according to the following formula:

Balance = Deposit – Withdrawals + Profit/Loss – Fees

Balance = Investors Balance

Deposit = Amount deposited

Withdrawals = Amount withdrawn

Profit/Loss = the value of the Profit/Loss achieved with the PAMM account during the trading session preceding the current rollover.

Fees = Includes Performance Fees

The Performance Fee payable is calculated according to the formula:

(Allocated Profits – Allocated Losses) * Performance Fee %

Allocated Profits include profits from closed and open trades. Similarly, Allocated Losses include losses from closed and open trades.

The formula is based on the investment duration and therefore covers the period starting from the last Performance Fee pay-out to the current date. Indicative Performance Fees to pay may change as the value of open positions rises or falls (High Watermark principle).

Performance Fees or Tier Commission are processed and calculated at each PAMM rollover and is credited to strategy investment. If, as a result of technical issues, a Performance Fee pay-out does not occur, the pay-out will take place during the next suitable schedule.

11. Manager’s Obligations

The manager, taking into account all of the risks of trading, engages in activities aimed at increasing the Managers Capital and Investor Funds. In the event that the Company decides that the Manager does not comply with Investor Interests, it reserves the right to inform the Customers and/or liquidate the PAMM account.

The Manager Confirms that:

  1. He / She self regulates every, but not limited, requirement of Foreign Exchange, tax and civil law of the jurisdiction a resident of which he/she is.
  2. All the personal data that was provided to the Company while obtaining the status of the Customer and the registration of the PAMM account is accurate.
  3. All documents that regulate trading and non-trading operations as well as these terms were carefully read and understood.
  4. All of the risks and implication of trading on the financial markets are defined and understood.

The Manager agrees that he/she would be obliged to autonomously settle all possible claims or complaints against him/her by investors or from the governing authorities, and under no circumstances would the Company or any of its owners or any of its representatives be involved in such a legal matter.

The Manager shall continuously monitor and manage the PAMM account.

Manager agrees that he has no right to do the following without prior approval from the Company:

  1. Affiliate him/herself with the Company publicly or otherwise, in contracts and agreements either verbally or in writing.
  2. Use the Company trademark or its logo in any documents or offer.
  3. Make statements, calculations or obligations on behalf of the Company on any public means of communications (such as forums, journal articles, books presentations etc).

Manager agrees that if the results of his/her activities the Company will be presented with any claims or demands, he/she is obliged to settle all financial claims at his/her own expense (including all balances in his/her trading accounts with the Company). In such cases, all requests for Withdrawal of Funds on behalf of the Manager will be blocked and they will not be executed until the full resolution of the conflict.

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