Deposit Coverage Protection Program
Secure your deposits and receive up to a 100% payout with coverage protection from Palmetto.
You can cover all of your funds.
Reasons to Go with Palmetto Insurance: Program is absolutely free Easy fulfillment terms to receive coverage Perfect tool to save the funds on your account and minimize your risk.
Main Provisions of the Program live trading accounts can be insured.
The client can insure 100% of the account's balance Minimum deposit to be insured is $25000 or its equivalent to the account's currency.
There is no limit of a maximum insured deposit.
The insurance is paid to the client when the insurance event has occurred and the client has met the requirements on risk.
The insurance event occurs when the account balance reaches 80% of the insured amount.
The insurance payments to be credited to the client’s trading account during 14-30 business days after the compliance of the Program requirements is verified.
All positions on the trading account should be closed at the moment of request of the insurance payments.
The spreads on the insured trading accounts are increased on .25 point
The commission for trading precious metals on the insured trading account stands at $7 per standard lot In order to refuse the Insurance Program.
The account's balance should not be less than the insured amount size after the transaction The client can increase the insurance size after making a new deposit to the insured trading account.
Palmetto Brothers Capital reserves the right, at its sole discretion, to amend and/or delete and/or completely terminate the terms of the Insurance Program after the initial period of the enrollment if the program becomes unavailable
Rules and restrictions:
Softwares have to be approved in order to be subject to the program.
Current softwares approved for program:
Alexander and Ainstein from Avoria Prime
Specs to follow:
10 % risk per week allowed
If draw down is higher than this trades must be closed out for the week.
Position size allowance for the account is .02 per $1000 in the account.
Anything higher than this will not be covered.
Account must sit idle and have no trades going on the amount that is to be covered for 30-45 days until you get an email saying that part is now covered under the program.
After the 45 days your account will receive a credit of 5% bonus for waiting the 45 days.
****If an account is purposely blown the account will not be covered.****
To Enroll in the program please email support and say you would like your account to be added to the Depository insurance program.