Accident Compensation

Accident Definition

During the regular trading hours, the quotation is missing and the instument cannot be traded for more than 5 minutes and it only happens on UBFX.

Affected Order Definition

Affected order must meet the following conditions

Condition 1: The order which was opened before the accident and the client plan to closed it in the accident and closed it within half an hour after the price recoverredl;
or the tp/sl of the order might be triggerred in the accident according to the LP history data

Condition 2: Client reported the issue to the platform by through following official report channels: online customer support, dedicate client manager in APP, customer mailbox(customer@ubfx.co.uk) ,

Compensation

Take the optimal close price of the affected order during the accident and compare it with the actual close price of the order. If optimal close price is better than the actual close price, the platform will compensate the client for the profit difference.
*The optimal close price is provided by the liquidity provider.
*If there are hedging orders in the accident, the close price shall be the best close price within 30s before and after the complaint time。

For example

Some day, due to some reasons, the gold price was missing and wasn't able to trade for 30 minutes. During the accident, Client A planed to close a position but failed, he made a complaint through online customer support. After the system recoverred, Client A closed the order immediately. For this order, the platform will compensate to make up for the losses caused to customers due to accident.

Compensation amount:

Providing that the open price of the order is 1398.69, and the volume is 1 lot, the direction is short (Sell), the close price of the order is 1390.58, the P/L of the order 811 USD.

After the accident, the platform get historyt ticked data from the LP, according to the rule, we found the optimal close price was 1388.44 during the accident , therefore, if the order was closed on this optimal prices, the P/L would be US$1,025.

In this case, the platform will compensate the client $214 for the order in this accident.

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