Forex Glossary
Term Description
Absolute advantage is an advantage in the production of certain goods or services some country has over the others due to peculiarities of climate, education, labour resources and other factors. If a country has an absolute advantage in certain industries, it can produce the corresponding goods and services at a lower cost per unit than its competitors.
Account a special personal account opened with the company by a client. This account is used to offset the obligations of the client and the dealer that result from the deals concluded under the present agreement.
Account history a full list of completed transactions and non-trading operations of a certain trading account.
Accounting currency the currency unit in which deposit/withdrawal operations are performed.
Adviser a trading account management algorithm in a form of a program engineered in MetaQuotes Language 4, that sends requests and orders to the server via the client terminal (platform).
AMIEU stands for Australian Meat Industry Employees' Union. The union represents the interests of workers in the meat industry in Australia.
Angela Merkel is a German politician, a leader of the Christian Democratic Union of Germany since April 10, 2000. Angela Merkel has been the Chancellor of the Federal Republic of Germany since November 22, 2005, when her party won the 2005 federal election. Merkel is the first woman to have become Chancellor of Germany.
Annual inflation is the increasing of the overall prices for goods and services during the period of one calendar year.
APEC (Asia-Pacific Economic Cooperation) is a forum of 21 Asia-Pacific countries that seeks to promote free trade, investment liberalisation and facilitation across the region, as well as to foster economic growth and strengthen the Asia-Pacific community.
Ask is the offer price; the price at which a seller is willing to sell the base currency.
AК&M is an information and analytical agency focused on economics. AК&M was created in 1990. It has long been a leading informational portal in the field of economics and finance.
Balance the total financial result of all fully executed transactions and deposits/withdrawals to/from an account.
Balance of payments shows the balance of a country’s overseas payments and payments incoming from abroad over a given period of time.
Bank Stress Test is a compulsory condition for high estimation of the risk management system under the Direction of the Central Bank of Russia dd. January 16, 2004 No 1379 U "On assessment of the financial stability of the bank with the purpose to confirm it as sufficient for participating in the deposit insurance system."
Barrel is a unit of liquid volume which is used on the international oil market. The price for basic oil brands is estimated in dollars per barrel.
Base currency the currency unit in which an account, balances, commission fees and payments are nominated and calculated.
Bear is the market participant who opens sell trades and believes that a currency exchange rate is about to fall.
BHP Billiton is the world’s largest mining company, founded in 2011 with headquarters in Melbourne
Bid is the demand price; the price at which a market participant is willing to buy the base currency.
Bloomberg is an American mass media corporation which provides a range of informational services from the world’s finance platforms.
Bloomberg Banks Stress Test Index tracks the US banks whose balance sheets will be reviewed by US regulators to see how much capital the banks will require to meet the standards in the current economic environment. Tests would be applied to banks possessing over $100 billion in assets.
BNP Paribas is a financial conglomerate, one of the world’s largest, most reliable banks. It has offices in 80 countries all over the world and headquarters in Paris, Geneva, and London with a total amount of employees of over 200,000 people.
Brent is a standard oil brand which is sourced near the European shoreline in the North Sea. This brand is famous for the low percentage of sulfur which makes it attractive for oil-processing companies. Brent is a pricing benchmark for almost 40% of all global oil brands. It is traded on international oil markets.
Broker the firm that provides crediting services and trader support.
Brokerage is the fee or commission paid to a broker for the services rendered. The amount of the brokerage is usually proportionate to the value of the deals.
Bull traders that count on currency rate escalation.
Bull market a market that tends toward escalating rates.
Business Climate Indicator (BCI) the business climate indicator of a particular country is based on the responses of business representatives. Index data has a direct impact on the market.
Capital account is the other component of the balance of payments directly related to the GNP. It represents the balance of public and private capital inflow and outflow as well as the amount of funds borrowed and lent.
Carry trade is a Forex trading strategy in which the profit is gained not from the price movement and the closure of a profitable position, but from holding a position with a positive swap (see swap).
Caspian Pipeline Consortium (CPC) is an oil-producing company which develops reserves in the western area of Kazakhstan. Oil is transported by means of a pipeline to the shores of the Black Sea for further transportation to Europe.
Central Bank of the Russian Federation is the primary bank of Russia, its main issuing monetary body. Together with the government, it develops and implements the monetary policy. The bank has broad powers. In particular, it is accredited to issue the national currency and regulate commercial banks. The central bank of the Russian Federation coordinates and regulates Russia’s entire credit system. It acts as an economic regulator. The bank supervises lending institutions and grants, and withdraws banking licences. The headquarters of the bank are in Moscow.
Chicago Board Options Exchange (CBOE) is the US options exchange located in Chicago. More than 2,200 companies, 22 market indices, and 140 market indices funds with an overall trade turnover of 1 billion contracts are listed in it.
Client a physical or a legal party executing operations with the company.
Client log file a file created by the client terminal which records all requests and orders sent from the client to a dealer with an accuracy of one second.
Client terminal a MetaTrader 4 or 5 software product that lets the client get information about financial market trades in real time (the volume is defined by the company), perform technical analysis of markets, operate, set/change/cancel orders, and receive messages from the dealer and the company as well.
Close position is a fixation of profits or losses on an open position; the removal of a pending order.
Closed transaction consists of two opposite trading operations of equal volume (the position opening and closing): buying followed by selling or selling followed by buying.
COMEX (Commodity Exchange) is a leading exchange market of valuable metals, a department of the New York commodity market. Futures contracts are conducted for any month, including the current one. Schedules for trading sessions of every futures contract are individual, but overall the instruments are trading from Monday to Friday from 8:00 till 13:30. An electronic trading session is held daily from Sunday to Friday from 6:00 till 17:15.
Commerzbank is a German group of banking companies established in 1870. The headquarters of Commerzbank are located in Frankfurt am Main. The total assets of Commerzbank are about 600 billion euros. Its staff is 360,000 people, and the number of customers amounts to 8 billion in more than 40 countries. It is Germany's second-largest bank by assets.
Comparative advantage is an economic law referring to the ability of an individual or a country to demonstrate the best performance producing goods and services in the sphere they are the most competent, qualified or experienced.
Concealed Unemployment is not reflected in official statistics. It relies on data on how many people receive unemployment benefits in a country. Apart from this group of people, there are other categories of employable citizens: those who are almost out of work, but do not get any jobless benefits; those employed part-time; and those who have not claimed any benefits for some reason.
Consolidation is a period during which a price action fluctuates in a certain range without establishing a trend either up or down. Consolidation is believed to be followed by a breakout in one direction or the other.
Consumer Confidence indicates how consumers feel about the current economic conditions in their country. The index is calculated on the basis of a monthly survey. The survey participants are asked to assess the economic prospects of their country. The index does not tend to affect the markets much because it provides a subjective vision of the economy, rather than the real picture. A rising index augurs well for the national currency.
Continuous Linked Settlement (CLS) is a global multi-currency payment system founded in 1997 by the largest brokerage Forex companies for cash remittances on currency deals.
Contract specifications general trading conditions (such as spread, lot size, minimal trading operation volume, trading operation volume increment, initial margin, lock margin, etc.) for each instrument.
CPI is a consumer price index which shows the average level of prices for goods and services for a certain period of time. It is the main instrument for inflation rate estimation in the USA.
CPI (Consumer Price Index) indicates changes in retail prices for goods and services the market basket comprises. The index is based on the costs of food, clothes, education, housing and household utilities, leisure and entertainment, charges for health care services and transportation fares. The index is calculated monthly. It is a key measure of inflation in any country.
Credit (credit relationship) is a relationship between subjects arising from cost flow. There are various forms of credit: commercial and banking borrowing, loaning, leasing, factoring, etc.
Credit rating measures the creditworthiness of an individual, firm, region, or a country. Ratings are calculated based on the past and current financial performance of market participants as well as on the estimated amount they borrowed and obligations incurred. The estimates are supposed to give potential lenders/investors an insight into the probability of on-time repayment.
Cross rate is the currency exchange rate between two currencies, both of which are not the official currencies of the country where the exchange rate quote is given.
Currency intervention is a significant one-time and direct intervention by the central bank in the currency market and the currency rate implemented by means of buying and selling a large amount of foreign currency. A currency intervention is used to regulate the course of foreign currencies in the interest of the government.
Currency pair two currencies which make up a foreign exchange rate, for example, EUR/USD.
Current account balance is one of the two components of the balance of payments referring to net revenue on exports minus payments for imports, net revenue on investments and net transfer payments.
Dealing non-cash currency trading.
Dealing center a company that provides access to the money market.
Deflator is a statistical tool used to convert a national currency into inflation-adjusted national currency.
Demo account (Demonstration account) is a virtual trading account rendered by a broker to review and test the trading system’s features on financial markets without the risk of losing real funds. As a rule, the demo account interface is similar to that of a live account.
Developer “MetaQuotes Software Corp.” is the trading platform developer.
Dinghong Fund is China's first privately offered wine equity fund. The fund was founded by Ling Zhijun, a banking professional and wine enthusiast who manages Pacific Asset Management of Beijing, and French winemaker Jean-Pierre Moueix's China representative Zhang Yanzhi.
Divergence is the difference between two correlative instruments. For instance, intermarket divergence happens when one of the markets reaches cyclical/session/history price extremes (highs or lows) when the correlated market does not do so. Divergence quite often signifies a price reversal; (it) is used by traders as a trading signal.
Diversification is the distribution of invested or loanable money assets among different investments with the purpose of smoothing out potential losses.
DJIA is Dow Jones Industrial Average index, the oldest stock index in the USA which is a simple arithmetic average of the price growth of the top 30 industrial U.S. companies’ shares.
Double bottom is a classic pattern of technical analysis where the price reaches two consecutive lows placed at the same level; it signifies a reversal.
Double top is a classic pattern of technical analysis used to depict two consecutive price increases placed at the same level; it signifies a reversal.
ECB the European Central Bank which carries out the monetary policy of the European Union. It was established on June 1, 1998. The ECB headquarters are situated in Frankfurt am Main, Germany. The General Council of the European Central Bank includes representatives of all the EU countries. The ECB is independent from other EU authorities.
Economic integration is the development of stable relations among neighbouring countries into the unification of economies. This process is usually accompanied by a coordinated interstate economic policy.
Economy Watchers Survey assesses the current economic conditions in a country.
Equity the secured part of the client account, including open positions, that is bound to the Balance and the Floating rate (profit/loss) by the following formula: Balance + Floating + Swap, i.e. the funds on the client account minus the current loss of the open positions, plus the current profit of the open positions.
ESM stands for European Stability Mechanism. It is a joint financial fund of the Eurozone countries replacing the two existing EU funding programmes.
ETF (Exchange Traded Fund) investment funds much like securities which serve as certificates for share portfolios. An ETF may consist of securities of different companies and share funds. On a legal basis, the ETF is a type of share funds.
Euribor is a rate European banks use to borrow funds from peers for three months.
Export delivering (or shipping) goods or capital abroad.
Federal Reserve Bank is a regional bank of the Federal Reserve System of the USA. A network of 12 Reserve Banks carry out the money management of the government.
Federal Reserve System is the U.S. banking system which fulfills the functions of the country’s Central Bank.
Financial Transaction Tax allows regulating financial markets, in particular the market of derivatives.
Fitch Ratings is one of the largest rating agencies which provide analytical data of financial markets and estimates the borrowing power of companies.
Flat is the situation on the currency market characterized by the absence of an uptrend or downtrend; also known as non-trend or sideways movement.
Force majeure circumstances occurrences which could not be foreseen or prevented. These include: natural disasters, wars, acts of terrorism, government actions, actions of an executive or a legislative government authority, hacker attacks and other unlawful acts toward servers.
Forex (foreign exchange market) is a segment of the financial market for interbank currency exchange at non-fixed rates.
Forex indicator is a software-based analytical tool that can be used to receive and visualize additional information (or information transformed into a more understandable format) about the price chart.
Free margin determines the state of an account. Calculated according to the formula: Equity - Margin = Free margin.
FSSS stands for Federal State Statistics Service of Russia. It is a federal executive institute responsible for official statistical data on social, economic, demographic, and ecological conditions in Russia. In addition, FSSS controls and supervises state statistics in the Russian Federation.
Gap is a break between prices which may happen as a result of sharp fluctuations on the market or during the weekends (between the closing price of one week and the opening price of the other).
Gasprom is a natural gas supply and distribution company which is the largest in Russia and the entire world. The company possesses the most extensive gas pipeline system.
GDP (Gross Domestic Product) is a macroeconomic indicator measuring the market value of output produced within a year in all of the economic sectors of a country, for consumption, exporting and hoarding, regardless of the producer's nationality.
Goldman Sachs (GS) is a huge commercial bank, a financial conglomerate established in 1869 by Marcus Goldman and Samuel Sachs in order to perform stock market operations. Currently, the bank’s activity includes an investment banking business together with an exchange business, as well as management of securities and assets.
HDFC Bank Limited is an Indian financial services company located in Mumbai and registered in 1994. The fifth largest bank in India by volume of assets, and the second largest by market capitalization. The bank was supported by the Housing Development Finance Corporation, which is the main real estate investment company (established in 1977) in India.
Hedging an operation that protects an asset or liability against a fluctuation in the foreign exchange rate.
HICP stands for Harmonized Consumer Price Index. HICP is an indicator of inflation, a single cornerstone in the statistical system for the EU countries. The index is particularly important in the periods of interest rate increases, as its growth provokes further monetary tightening and consequently the national currency upswing.
High-Frequency Trading, HFT is a type of trading which applies technical tools and computer algorithms (high-speed servers) to trade securities at a high speed. In contrast to usual trading, High-Frequency Trading uses powerful computers to execute a greater number of trading operations. Usually a computer analyzes the markets and executes operations based on its own trading strategy. The number of operations generated via High-Frequency Trading daily is counted in tens or thousands.
IMF (International Monetary Fund) an international organization established by the UN which grants loans to member countries to meet the balance of payments needs.
Import the delivery of goods or capital into the country from abroad.
Import substitution is fostering domestic production of goods rather than importing foreign goods.
Industrial Production Index is an economic indicator published by the Federal Reserve Board of the United States. It is based on the most significant categories of industrial goods. Since this index reflects changes in the output of mineral resources, energy efficiency, gas and water usage as well as manufacturing production, it can be regarded as a GDP constituent.
Inflation is the process of increase in prices for goods and services. Due to inflation, a certain amount of money sufficient for purchase of some good or service at present will not be sufficient anymore in future.
Initial margin the funds cover required by the company for the maintenance of open positions.
International division of labour implies that each country produces certain goods because it has everything necessary to produce them as compared to other countries. By specializing in a suitable production, the country satisfies its own needs while relying on foreign trade. Thus, international division of labour is a principle of the world economy where every country has its own specializations, exports the goods produces while importing the goods other countries specialize in.
International reserves refer to a country’s external highly liquid assets, namely gold and currency, controlled by the monetary authorities. International reserves are meant to finance the current account deficit, currency interventions, etc.
International trade is a system of relations implying the exchange of goods and services across international borders.
Intraday trade trade oriented at gaining profit within one day.
Investment refers to the long-term outlay of money for profit.
IPO (Initial Public Offering) is the initial public offering of joint-stock company shares for sale.
ISM Service Index surveys supply managers in the field of services with an aim to trace changes in this field. The index tends to be sensitive to psychological factors, rather than actual situations. New readings of the index are published at the beginning of every month at 10:00 EST (NY).
Jefferies & Co is an American global investment banking firm. Jefferies & Co is the largest independent bank in the USA.
Leading index shows an average of leading economic indicators such as Factory Orders, Initial Jobless Claims, Money Supply, Average Workweek, Building Permits, quotes of common stocks, Durable Goods Orders and Consumer Confidence. The leading index is believed to predict the pace of economic growth over the next six months. The index is calculated at the beginning of every month and released at 10:00 EST (NY).
Libor stands for London Interbank Offered Rate. Libor is a commonly recognized indicator of the cost of funds to banks. This is the rate that determines the cost of loans the world’s largest banks provide each other with on the London Interbank Exchange. Libor is one of the most widely used benchmarks for short-term interest rates. At present, it fixes rates for EUR, USD, GBP, JPY, CHF, CAD, AUD, DKK, and NZD. Libor is calculated for various borrowing periods, ranging from overnight to one year.
Light Sweet is a standard oil brand which is extracted in Texas (the USA). Due to the low content of sulfur and relatively high output of useful products, it is used mainly for gasoline processing. This kind of oil is in high demand in the USA and China. Light Sweet Crude Oil is a pricing benchmark for world types of oil. It is traded on NYMEX (New York Mercantile Exchange).
Limit order is a type of pending order (see pending order) that enables entering the market at the given potentially important level after which the reversal is expected. Limit order types are Buy limit and Sell limit.
Liquidity is the degree to which an asset (currency, security, etc.) can be sold at the current market price. This term refers to market volatility and dynamics: a liquid market is a type of a market with large trading volumes.
Long position is the buying of a financial instrument.
Loss is the fixed loss on the position.
Lot is a trading unit on the market; the standardized quantity of goods making up a transaction, exchange-traded securities, or a certain amount of currency on Forex. The lot also represents the trade volume (position, order).
Lot Size the quantity of the base currency in one lot that is specified in the contract.
M&A (Mergers and Acquisitions) is a buyout market. It is highly developed in the USA and in Euro area where in the history of every company information about its merging and absorption into other companies is stated.
Margin the required equity which an investor must deposit to collateralize a position equal to 1% (when leverage = 1:100) of an open position deposit.
Margin level determines the condition of an account. Calculated according to the formula: (Equity / Margin) * 100%.
Margin trading using borrowed money to buy securities, with the expectation of increasing profits. Margin trading can bring big returns but is also risky.
Mario Draghi is an Italian economist. He has been the ECB President since 2011. He also headed the Bank of Italy from 2005 to 2011.
Market opening trade opening after a weekend, holidays or after an interval between trading sessions.
Market opening price gap either of the following situations: the market opening quote Bid is greater than market closing quote Ask; the market opening quote Ask is less than market closing quote Bid.
Market price the last posted bid and ask prices for a given asset currently valid on the market.
Market-makers major banks and financial firms that pledge to provide liquidity by accepting the other side of a trade in a currency, security or futures contract.
Merchandise trade balance The merchandise trade balance of a country is a difference between the value of exports and that of imports over a certain period of time. The merchandise trade balance includes all the actual transactions and those carried out on credit.
MICEX (Moscow Interbank Currency Exchange) is a Russian stock exchange where papers of more than 700 issues with a total capitalization of 10 trillion rubles are trading.
MSCI (Morgan Stanley Capital International) is a leading international analytical company which calculates global, national, and regional stock indices. The review of MSCI indices greatly influences stock markets.
MSCI Asia Pacific is the Morgan Stanley capitalization composite index which unites 15 countries of the Asia-Pacific region. The index with the reading of 100 notched at the end of December, 1987 is considered to be the standard.
NASDAQ (National Association of Securities Dealers Automated Quotation) is the US stock market where shares of more than 4,000 hi-tech companies with the total capitalization of $6 trillion are trading.
New York Stock Exchange (NYSE) is New York stock exchange where securities of more than 3,000 issues’ bodies are trading daily with an overall capitalization above $27 trillion.
Nikkei 225 Stock Average is a Japanese stock market index which represents the average of the most widely quoted Japanese equities of 225 companies in the first section of the Tokyo stock exchange.
Non-trading operation depositing or withdrawing funds from a trading account or extending credit.
Nordgold is an international gold-mining company which operates in Russia, Kazakhstan, the African states of Burkina Faso, and Guinea. The company’s quotes are traded on the London stock market.
Normal market conditions condition of a market that meets the following requirements: an absence of noticeable breaks in relation to the trading platform quotes; an absence of rushing price dynamics; an absence of significant price gaps.
North American Free Trade Agreement is the world’s largest free trade area which includes the USA, Mexico, and Canada. The area’s population makes up 406 million people while the total GDP is $10.3 trillion.
Obvious mistake opening/closing client positions or executing client orders at a price that greatly differs from the price quoted per instrument at the moment of processing. Or some other dealer activity or inactivity that deals with a mistaken interpretation of the market prices at the present moment.
Open position the result of the first part of a completed transaction; at the position opening, the client accepts the following liabilities: to execute the opposite operation of equal volume; to maintain equity not lower than 10% of the necessary margin.
Output is the volume of goods a company has produced or services it has provided. It is measured in real and value terms.
Overbought is a situation on the currency market in which the demand for an asset increases the asset’s value to a level that does not meet the fundamental factors. It is commonly believed that in the overbought zone traders should sell.
Oversold is a situation on the currency market in which the demand for an asset decreases the asset’s value to a level that does not meet the fundamental factors. It is commonly believed that in the oversold zone traders should buy.
Pending order the client instructs the dealer to buy or sell once the price reaches the order level.
Pips (points) the smallest unit of price for any foreign currency, also referred to as points.
Pivot point is the key point of the support/resistance level calculated by taking the average of an asset’s previous high, low, and closing price.
PMI (Purchasing Managers’ Index) is a leading indicator. Its reading is determined by polling manufacturing supply managers. The index provides insight into business trends and influence of the economy on price formation.
PPI (Producer Price Index) measures changes in prices domestic producers receive for their output.
Price gap A quick market move in which prices skip several levels without any trades occurring. Gaps usually follow economic data or news announcements.
Price prior to non-market quoting the closing price of the minute bar, prior to the minute bar with non-market quoting. Price Gap – either of the following situations: the present quoting Bid is greater than prior quoting Ask; the present quoting Ask is less than prior quoting Bid.
Principal value is a trader’s initial capital, start-up capital.
Producer-Price Inflation is the increasing of the average prices for raw materials and consumer goods calculated for the base/reference period.
Pyramiding is a method of increasing a position size in which each new position is lesser (greater) than the previous one.
Quote flow a sequence of numerical data describing the price value of an instrument at a certain time period.
Range the distance between levels of support and levels of resistance.
RBA Reserve Bank of Australia. The bank is responsible for Australia's monetary policy, works to maintain a strong financial system and issues the nation's banknotes.
RBC (RosBusinessConsulting) is a Russian media group operating on the Internet, mass media, and on TV. It encompasses the RosBusinessConsulting information agency, a news website, the business analytics portal, and the RBC daily weekly analytical newspaper.
RBI is an investment holding company, one of the biggest players in the housing and construction markets. The RBI headquarters are located in Saint Petersburg. The company operates in the segments of residential and commercial construction.
Real GDP shows the production output and incomes in real terms.
Resistance level the highest borderline in a channel.
Reuters is one of the world’s largest news agencies. It was founded in the middle of the 20th century.
Rising trend occurs when every following value of the wave curve is higher than the previous rate value. The lows of the waves are connected with a straight line – the trend line.
Risk management using a strict set of rules in trading in order to limit losses.
Rollover the closure of an expired position at current market price and the simultaneous opening of the exact same position; the method of carrying the position overnight.
RTS (Russian Trading System) conducts trades on the stock and derivative markets. Open 10:00 to 23:50 MSK (GMT+4). In December 2011, RTS merged with MICEX into MICEX-RTS. In 2012 the united stock exchange was renamed as OAO Moscow Stock Exchange (MSE).
RusRating is an independent national rating agency accredited by the Ministry of Finance of the Russian Federation. It has been operating since 2001. The agency focuses on banks’ credit ratings.
RWE (Rheinisch-Westfälisches Elektrizitätswerk) is a German company engaged in selling natural gas. It is second rated after EON.
S&P is one of the largest rating agencies which deal with analytical investigations of the financial market. The company to one of the world’s most powerful rating agencies. S&P is also known as the creator and editor of the American stock index S&P500 and the Australian S&P200.
S&P 500 is the stock index of Standard & Poor’s rating agency which is comprised of the top 500 publicly traded companies of the USA whose securities can be found on the largest U.S. stock markets. It is a market-value-weighted index and one of the main indicators of the American economic climate.
Scalping is a method of short-term trading that suggests a large number of positions opened during a trading day fixing small amounts of profit or loss.
Sentix Investor Confidence measures the credibility of the Eurozone economy in the eyes of investors. The indicator is calculated on the basis of a survey held among investors and analysts. If the indicator rises, a foreign currency is converted into a national one when buying securities or non-financial assets, which pushes the national currency rate up. Readings of the indicator exceeding the forecast bode well for the currency.
Server log file a file created by the server which records all requests and orders received from the client to a dealer as well as the processing result, with an accuracy of one second.
Shld stands for the American international trading network founded by Richard Warren Sears and Alva Roebuck in the late nineteenth century. In early 2005, the company, which earlier was part of the industrial rating (Dow Jones Industrial Average), merged with the company Kmart and became known as Sears Holdings Corporation.
Short position is a situation where a trader sells a financial instrument.
Slippage is the situation on the currency market in which a broker closes an open position at a less profitable price than stated in the order. It happens amid price spikes when the level of position closure is broken too fast.
Societe Generale is one of France’s largest financial conglomerates. Its headquarters are located in Paris. Societe Generale was founded in 1864; it specializes in asset management, investment banking, financial services, etc.
Spike a comparatively abrupt movement of a price or value level upwards or downwards (usually exceeding the spread). Spikes have a peculiarity of recurrence during a certain period of time, from several minutes to several hours. According to the SuperForex Public Offer Agreement, all positions opened and closed by non-market quotations are to be cancelled, which guarantees the safeguard of funds against spikes.
Spread the difference in pips between the Bid and the Ask quote.
Stock Index represents a compilation of stocks to measure the value of a stock market sector.
Stock market (securities market) is a segment of the financial market where securities are traded.
Stop loss is a pending order to close the losing position when it reaches a certain price.
Sturdy beggar is a term denoting someone who is able to work, but begs or wanders for a living instead.
Support level the lowest borderline in a channel.
Swap the amount of money deducted from or added to a client account for the overnight position.
Take profit is a pending order to close the winning position when it reaches a certain price.
The Organization of the Petroleum Exporting Countries, OPEC established in 1960 by the world’s largest exporters in order to create a common oil policy and ensure stable prices on the global oil market.
Ticker a unique identification number given to each open position or a pending order in a trading platform.
Trade balance is the difference between the monetary value of exports and imports over a certain period of time (for example, a year). It is calculated for both separate nations and groups of countries and includes both actual transactions and those carried out on credit.
Trade deficit is a negative trade balance.
Trade operation volume the number of lots multiplied by lot size.
Trader a person who trades currency on the Forex market in order to make a profit.
Trading Account a unique personalized stock-taking operations register on the trading platform where completed closed transactions, opened positions, non-market operations and orders are reflected.
Trading operation an act of buying or selling any instrument performed by the client.
Trading platform the software and technical facilities that provide the transmission of financial trading information in real time, the execution of trading operations by an account of mutual obligations between the client and the dealer, and control of conditions and restrictions. For the purposes of the present regulation, it consists of a "Server" and a "Client terminal."
Trailing stop is a pending stop loss order automatically moved at a specified distance from the current price.
Transaction trade operations where money resources move from the base currency into the quoting currency and vice versa.
Trend is the current general direction of a price movement for a substantial period of time. There can be an uptrend (bullish trend), downtrend (bearish trend), and non-trend (flat or sideways movement).
Trend lines the straight lines with a positive slope plotted on a graph through low points when the tendencies are going up, and with a negative slope drawn through the high points when tendencies are declining; the lines define the current trends; the trend line gaps usually signal tendency changes.
TSE (Tokyo Stock Exchange) consists of more than 2,500 Japanese and foreign largest companies that are members of this stock exchange. It takes the second place in the world by capitalization after the New York exchange.
Unemployment Rate is calculated by dividing the number of unemployed citizens by the number of the employed or by the total number of people of a certain population category. In most cases, the unemployment rate is expressed as a percentage.
Usable margin is a part of the deposit not involved in trading which can be used to open new positions (orders). It is denoted as “Free” in the trading platform.
Used margin is the blocked part of the deposit which is used to cover potential losses on open orders. In the trading platform it is displayed in the Margin field.
Volatility instability; the measure of how much the market conditions, demand or prices change.
Wayne Swan is the Treasurer of Australia.
Wing Lung Bank is a wholly-owned subsidiary of the sixth largest Chinese bank China Merchants Bank; it is based in Hong Kong.
Wing Lung Bank (Trustee) Limited is a 100% sister company of Wing Lung Bank Limited, offering the full range of services related to renting and managing real estate.
Wolfgang Schaeuble is a German politician, a member of the Christian Democratic Union of Germany. He has been the Federal Minister of the Interior since 2005 and Federal Minister of Finance since October 2009.
Xie Xuren is China's Minister of Finance.
ZPMC (Shanghai Zhenhua Heavy Industries Company Limited) is a manufacturer of cranes and large steel structures.
Changing of the Conditions of the Micro Cent Account.Dear clients and partners, Please note that we have updated some of the conditions of our Micro Cent account type. As of now, the following terms apply: All deals with the Micro Cent account are 0.05 lots; The step is 0.05 lots; The maximum deal volume is 10 lots. We wish yo...
New Domains in IndonesiaDear Clients, We are pleased to inform you that as part of the development of our company in Indonesia, our website for Indonesian clients has moved to a new domain.Now has become Our new domain name is accompanied by a number of updates: We added the ability to...
New Currencies for Charging Your AccountTo ensure you can make the most of our your trading career with us and always enjoy convenient services from SuperForex, we have added more ways for you to use your local currency to charge your account. First of all, accounts from all countries can now use the British pound (GBP) as their base cur...
New Local Depositor in NigeriaWe would like to introduce you to our newest Local Depositor in Nigeria. The office is under the name of PSN Traders (PHOBS Services Nigeria). The office is located at this address: Harare suit, 2nd floorDeborah Lawson HouseAbacha Road, G.R.APhase III Port Harcourt.   You can get in tou...
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