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. 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 above agreements.

Last Updated: August 2025
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