Special Terms and Conditions for Managed Accounts

Ascend Forex Managed Account Service
VIA Ultima Markets 

1. Acceptance of Terms

By enrolling in the Ascend Forex Managed Account Service (the "Service"),

You ("PAMM Investor") agree to:

• These Terms and Conditions;
• Ascend Forex’s standard Terms and Conditions, Privacy Policy, Risk Disclosure and all other Policies.
• Ultima Markets’ standard Terms and Conditions, Privacy Policy, Risk Disclosure PAMM Service Agreement, its Supplemental Agreement (collectively, the "PAMM Agreements"), and all other Policies;

Refusal to accept these terms prohibits Service use.

2. Service Description

2.1 Managed PAMM Account

• Ascend Forex provides discretionary Forex/CFD management via Ultima Markets’ PAMM accounts.
• PAMM Investors must:
• Open/maintain a PAMM account with Ultima Markets;
• Link it to Ascend Forex’s PAMM management system.
• Trading authority is granted to Ascend Forex’s traders, but PAMM Investors retain fund ownership.

2.2 Supplemental PAMM Terms

• The Supplemental Agreement to the PAMM Service Agreement (August 2025) governs fee enforcement and investor removal. Key terms:
• Agreed Fees: Management/performance fees payable directly to Ascend Forex (not via Ultima Markets).
• Non-Payment: Ascend Forex will request Ultima Markets to remove the PAMM Investors from PAMM accounts after 24 hours of late payment.
• No Broker Liability: Ultima Markets is not responsible for fee disputes or removal consequences.
  

3. PAMM Investor Eligibility

• Age/Legality: 18+ and compliant with local Forex regulations.
• KYC: Complete verification with both Ascend Forex and Ultima Markets.
• PAMM Compliance: PAMM Investors must adhere to both Ascend Forex and Ultima Markets’ terms and Conditions.
  

4. Fees & Profit Sharing

4.1 Fee Structure

• Management Fee: $ 199 billed monthly or $99 billed weekly by Ascend Forex.
• Performance Fee: 50% of net profits (charged daily) by Ascend Forex.

4.2 Payment Terms

• Fees are non-refundable and billed separately from Ultima Markets’ platform fees.
• Non-Payment: Triggers suspension/termination per Section 7.
  

5. Risk Disclosure

• Market Risks: Forex/CFDs may lead to total capital loss.
• No Guarantees: Past performance ≠ future results.
• Broker Risks: Ultima Markets’ platform issues (e.g., slippage, downtime) may affect trades.
  

6. Account Funding & Withdrawals

• Minimum Deposit: $ 1000.
• Withdrawals: Processed in 1 day (subject to Ultima Markets’ procedures).
• Balance Requirements: Falling below minimums may suspend Service.
  

7. Termination

7.1 Voluntary Termination

• Either party may terminate with 1 days’ written notice.

7.2 Non-Payment Termination

• Missed Fees: Ascend Forex may:
• Suspend trading after 1 day overdue;
• Terminate Service and request Ultima Markets remove the PAMM Investor from the PAMM system.
• Reinstatement: Requires full payment of arrears + late fees.

7.3 Post-Termination

• PAMM accounts will be unlinked from Ascend Forex;
• Open positions may not be closed automatically.
  

8. Liability & Indemnification

• Ascend Forex and Ultima Markets are Not Liable For:
• Market losses, broker/platform failures, or force majeure events.
• Ascend Forex’s’ actions (e.g., PAMM removals, fee disputes).
• Ultima Markets’ actions (e.g., PAMM removals, fee disputes).
• PAMM Investor Indemnification: Covers unauthorized account use or policy breaches.
  

 9. Partnership with Ultima Markets

• Ascend Forex is a third-party manager; Ultima Markets is solely the broker.
• PAMM Investors must separately agree to Ultima Markets’ terms.
  

10. Dispute Resolution

• Negotiation → Arbitration in Saint Vincent and Grenadines.
• Governing Law: Saint Vincent and Grenadines.
  

11. Risk Disclaimer

Risk Disclosure Clause – Ascend Forex Managed Account Service

11.1. Acknowledgement of High Risk
You (“the Client”) acknowledge and understand that trading in foreign exchange (Forex), contracts for differences (CFDs), and other derivative instruments is highly speculative and carries a very high level of risk. These products are leveraged, meaning they can result in the loss of your entire invested capital and may expose you to further losses beyond your initial deposit. You should not invest funds you cannot afford to lose.

11.2. No Guarantee of Profit
Past performance, whether actual or simulated, is not indicative of future results. Ascend Forex does not guarantee, and makes no representation or warranty regarding, the future profitability of your managed account. There is a possibility that you may sustain substantial losses, including the total loss of all funds in your account.

11.3. Specific Risks of the PAMM Structure
Your account will be managed through Ultima Markets’ PAMM (Percentage Allocation Management Module) system. Specific risks include:

• Manager Discretion: All trading decisions are made at the sole discretion of Ascend Forex’s traders. You have no control over individual trades executed in the PAMM account.
• Allocation of Losses: Losses incurred within the PAMM account will be allocated to all investors, including you, in proportion to your share of the total equity.
• Forced Liquidation Risk: The actions of other investors in the PAMM pool (e.g., large withdrawals) may impact overall equity and potentially contribute to stop-out events.

11.4. Broker and Platform Risks
Ascend Forex operates as a third-party manager and uses the trading platform and infrastructure provided by Ultima Markets. You are exposed to risks including, but not limited to:

• Execution Risk: Orders may be subject to slippage, requotes, or delays, especially during periods of high market volatility.
• Technical Failures: Losses may occur due to system malfunctions, communication failures, internet connectivity issues, or other technical disruptions on Ultima Markets’ platform.
• Liquidity Provider Risk: Deterioration in the creditworthiness of Ultima Markets’ liquidity providers may impact trade execution and pricing.
• Broker Insolvency: In the event of Ultima Markets’ insolvency or loss of regulatory license, your funds may be at risk. Ascend Forex assumes no liability for the financial health or actions of the broker.

11.5. Risks Related to Manager Authority and Fees

• Removal for Non-Payment: As per the Supplemental PAMM Agreement, if you fail to pay the agreed management or performance fees on time, Ascend Forex has the right to request Ultima Markets to remove your account from the PAMM system. This removal may result in the forced liquidation of your positions at unfavorable prices and the withdrawal of your remaining equity, potentially crystallizing losses.
• Fee Impact: All fees (management, performance, broker commissions) will reduce your account equity and overall profitability. Even a profitable trading strategy may result in a net loss to you after all fees are applied.

11.6. Regulatory and Legal Risk
The regulatory environment governing Forex trading and managed accounts varies by jurisdiction. Changes in laws, regulations, or policies could adversely affect the value of your investment or the ability of Ascend Forex or Ultima Markets to provide services.

11.7. Uncontrollable Market Forces
Financial markets are influenced by numerous factors beyond anyone’s control, including but not limited to: changes in government policy, economic factors, acts of God, war, terrorism, and other force majeure events. These can cause sudden and significant market movements that may lead to substantial losses.

11.8. No Liability for Consequential Loss
To the fullest extent permitted by law, neither Ascend Forex nor its directors, officers, employees, or agents shall be liable for any loss, damage, or expense (including indirect or consequential loss) suffered by you in connection with your participation in this Service, except in the case of proven gross negligence or wilful default.

11.9. Client Acceptance
By enrolling in the Ascend Forex Managed Account Service, you confirm that:

• You have read, understood, and accepted all the risks described herein.
• You are aware of all the costs, fees, and charges involved.

• You are solely responsible for your investment decisions and the selection of Ascend Forex as your manager.

12. Supplemental PAMM Agreement

This Service operates under:

1. Ultima Markets’ PAMM Service Agreement;
2. Supplemental Agreement (August 2025), which permits:
• Fee enforcement via PAMM removal;
• No broker involvement in fee disputes.

By enrolling, PAMM Investors acknowledge all the above agreements.

Last Updated: August 2025
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