GLossary

Is a real, demo or IB account a trader opened with the broker. Not to be confused with client's Personal Area on the web site.

Is a tool used to share, view, analyse and compare trading performance of one or several trading accounts. With account monitoring you can learn from other traders, find an asset manager or advertise your trading strategy.

Is an IB-related term: client account which has a cumulative personal funds of 100 or more USD in all his/her trading accounts and has at least 5 valid orders closed within the last 30 days from the current date. Number of active clients defines IB rank and the commission paid per one lot.

Is a leading provider of technical analysis based price predictions which offers a powerful tool scanning the market for trading opportunities 24/5.

The use of electronic platforms (like Expert Advisor) to enter trade orders, where buy or sell orders are placed automatically under specific market conditions. These conditions vary and are usually based on price movements and technical indicators. Autotrading often allows one to enter and exit positions at a much higher rate than manual trading. Expert Advisors are created in MetaEditor in MQL 4 programming language and used on the MetaTrader trading platforms. Also, Algorithmic trading, Automatic trading, Black box trading, and Algo trading.

Is the process of testing an Expert Adviser or a cBot over historical prices to determine how would it perform in the market conditions. To test an EA, launch MT4, click View>Tester or press F2 on your keyboard to open “Tester” window. Select the EA you would like to test, symbol, periodicity and mode. Click “Start” button to begin testing. To backtest a cBot you would need cAlgo. Find the robot in “cBots” tab click “+” button to add an instrument and set the variable parameters. Then Open Backtesting tab and click “Play’ button.

Is the amount of funds on a trading account that includes all closed positions, deposits and withdrawals. It does not include floating profit/loss, however the margin required to support open positions is a part of the balance. When a client has no open positions, balance denotes client’s personal funds.

Canada's Central Bank, in charge of the nation's monetary policy. Also, BOC.

A bank in charge of U.K.'s monetary policy. Interesting fact: the Bank of England has only been in charge of U.K.'s Monetary Policy since 1997. Also, BOE.

A bank in charge of Japan's monetary policy. Also, BOJ.

Is the first currency in a forex quote, for example in EUR/USD currency pair a base currency is EUR. Base currency is always equal to 1 unit, and the price indicates how much of the second (quote) currency is required to buy or sell it. When for EUR/USD currency pair Bid price is listed as 1.13644, it means that 1 EUR is equal to 1.13644 USD.

A period of time during which the asset price consistently falls. It usually occurs when the economy is in recession or when inflation is high.

Brokers are individuals or firms that act as intermediaries between buyers and sellers. In foreign exchange, brokerage providers individual traders access to a trading platform that allows them to buy and sell currency pairs. Brokers can be compensated through commission or spread. Depending on the execution model applied, brokers can be divided into ECNs, Market Makers, Dealing Desk and Non-dealing Desk.

is an opposite transaction to opening a position. A trader closes a short position by buying the same instrument, or closes a long position by selling it.