On the UBK Markets official website, date and time are defined according to Coordinated Universal Time (UTC), which is an international standard of Greenwich Mean Time.
Regular events relating to trading accounts:
- The initial level of leverage is automatically reduced by half every Friday at 19:00 (UTC).
Leverage means the proportion between the borrowed amount and the amount of the total trade size. Leverage size depends on the current account balance.
- Automatic closing of all positions in the iPA-Manager account is executed every Friday at 17:00 (UTC).
- Rollover is calculated from Saturday to Sunday.
Rollover means a technical procedure held at the end of each trading interval from Monday to Friday and is intended for calculation and remuneration accrual according to trading activity in the iPA-Manager accounts.
Let us consider an example:
Let us suppose that you live in London. The initial level of leverage is automatically reduced by half every Friday at 19:00 (UTC) that corresponds to:
- 19:00 local winter time;
- 20:00 local summer time.
If you are in Beijing, this time will correspond to 03:00 local time in the next 24 hours.