Volume Fee recalculation on MAM accounts 2014.03.27

March 27, 2014 17:22

Dear Trader,

Recently our team has detected orders that were calculated inaccurately on MAM accounts that are subject to a Volume Fee (Admiral.MAMI and Admiral.Control). We sincerely apologise for any inconvenience and would like to inform you that the amounts will be recalculated and applied to your account(s) in order to rectify any discrepancy in your account balance.

The cause of this particular issue was due to a malfunction in a plug-in which is responsible for calculating commission. Investors began to gain a Volume Fee as well as a profit from the moment a trade closed which resulted in their Volume Fee expenses being reimbursed straight away. As a consequence of this, Managers gained an additional percentage on their Control accounts from an Investor’s profit which was based on inaccurate calculations.

Admiral.MAMI and Admiral.Control are subject to balance corrections, including all orders until 12:14 (Server time, EET) today - 27 March 2014. The plug-in has already been fixed and corrections will be applied as a separate transaction on your account(s) within the next 48 hours. This action will be stamped in your statement with a comment for your reference.

Please accept our deepest apologies for the confusion!

Should you have any queries, our helpful Customer Support Representatives will be happy to answer them. Feel free to email us at support@admiralmarkets.com or ask your questions over our live chat, available 24 hours a day, 5 days a week.

Best regards,
Admiral Markets Team

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