It is important for every beginner and experienced trader to understand the terminology. That is why we publish a shopping glossary on the site. It is convenient to use and search for words. The calendar contains definitions that are based on official and current sources, so you can always be sure that you are on the right track.
a rapid or thin market.
a register of completed transactions, balance operations, and canceled orders in the customer’s account.
between the hours of 23:00 to 08:00 (Tokyo).
the price a seller or market-maker is willing to accept for a traded instrument; also known as the offer price; a price for establishing an open Buy position.
another name for the Australian Securities Exchange (ASX 200); 200 stands for top 200 (by market capitalization) companies listed on the ASX.
Aussie or Ozzie are nicknames for the AUD/USD currency pair.
also called free margin; the rest of funds in the customer’s account with the deduction of margin, floating profit/loss, and rollovers summary.
a summarised financial result of all funds deposited in, and withdrawn from the customer's account, and of all closed positions in that account.
the first currency in a currency pair (e.g. if EUR/USD rate is 1.3283 then one EUR is worth 1.3283 USD).
the given central bank country lending rate, which is used by banks to calculate the interest rate given to borrowers.
a unit that describes the minimum change in the price of a product.
slang for a trader who expects prices to decline; a trader who is holding a short position.
slang for a downtrend market (price is declining).
the price at which a seller or a market maker is willing to buy a traded instrument; a price for establishing an open Sell position.
ank Of Canada (Canada’s central bank).
Bank Of England (UK’s central bank).
Bank Of Japan (Japan’s central bank).
slang for a trader who expects prices to rise; a trader who is holding a long position.
slang for an uptrend market (price is rising).
Germany’s central bank; also referred to as BUBA.
a pending order for establishing an open Buy position in the customer's account. In the event that the price on the specified instrument falls to the specified level; it can be only executed at the Ask price, and then placed below the current Ask price of the specified instrument.
an open position that represents the expectation that the market price will increase (e.g. buying the base currency against the quote currency, or buying a contract for difference on an underlying security rate).
a pending order for establishing an open Buy position in the customer’s account, in the event the price on the specified instrument rises to the specified level; can be only executed at the Ask price and placed above the current Ask price of the specified instrument.
slang for the GBP/USD currency pair.
short name for the French Stock Exchange; 40 stands for the top 40 companies (by market capital).
one of the ways to view or present a chart. The Candlestick Chart indicates the opening and closing price in a chosen date range; if the close price is higher than the open price, then that area of the candlestick is not shaded, and vice versa if the open price is higher than the close price.
short for central banks.
usually, a government organization that manages a country’s monetary policy.
an object of an electronic transaction based on the price fluctuation of an underlying asset (e.g. stock or futures contract).
a diagrammatic representation of historical quotes in the form of lines, bars, or candlesticks.
a text file located in the folder 'MetaTrader4/Logs' that is used for recording all requests from the client terminal; it is created in the form of separate daily files.
the MetaTrader 4 (hereafter called MT4) program designed for customer trading, exercising supervision over customer accounts, obtaining real-time and historical quotes, news, and other market information that OrbitGTM may have made available to our customers. Also commonly used for technical analysis, automated trading by expert advisors, and customer feedback via the internal mail system.
a request or instruction for closing a specified position at the current market price.
a request or instruction for closing two locked positions on the same instrument.
A number of service payments charged to the customer’s account.
a standard unit on the Forex market (e.g. 1 lot).
parameters of an instrument specified by OrbitGTM for customer trading and published on the OrbitGTM website.
one of the participants in a financial transaction.
traded instruments based on the change of the value of one currency against another currency.
a physical or juridical person; a signatory of the Customer Agreement with OrbitGTM.
our customer’s personal system register of transactions, orders, and balance operations.
a stream of quotes in OrbitGTM MT4 trading platform.
a OrbitGTM employee responsible for accepting customer requests, executing customer orders, and carrying out the liquidation of customer open positions in the event of a Stop Out.
negative balance for a trade or payment (i.e. not enough money).
money deposited on an account.
an event that occurs when our customers believe that OrbitGTM actions or inactions are erroneous or contradictory to what is found in the Terms or/and the OrbitGTM Customer Agreement, and vice versa.
an adjustment that is applied when a share passes its ex-dividend date (including the ex-date of any special dividend) in the underlying stock market.
short for the Dow Jones Industrial Average or US30.
refers to easier monetary policy or lower interest rates; opposite to hawkish.
declining price action, which can be described as lower-lows and lower-highs.
European Central Bank.
Electronic Communication Network, which eliminates the third party in executing an order.
a net worth of funds in the customer’s account.
New York City time zone (United States Eastern Standard Time/Eastern Daylight Time).
short for the Euronext 50 index.
between the hours of 07:00 to 16:00 (London).
order execution mode where a transaction order is passed to an external gateway connected to exchange or another liquidity provider.
a less traded currency pair.
a program is written in MQL4 (MetaQuotes Language 4) and executed by the Client Terminal for the purpose of automated trading in the customer’s account.
an instruction for cancellation of a pending order at a specified time and date.
an event where the position opening or closing price significantly differs from the market price being actual at the moment of execution; an event where the execution of the customer’s order or request is inconsistent with the order or request by general meaning.
The Federal Reserve Bank (USA central bank).
means the order has been successfully executed.
order type where if the order cannot be filled, then it will be canceled (killed).
a difference value between the customer account’s equity and balance.
The Federal Open Market Committee is the policy-setting committee of the FED.
"Forex (FX) is the global market for buying one currency and selling another."
Another name of CAC 40.
short name for UK 100 index.
a group of seven nations including the USA, Japan, Germany, the UK, France, Italy, and Canada.
G7 + Russia.
A significant difference between the two consecutive quotes; may be shown on charts as a blank field between bars or candles when the time period between the two quotes covers the bars or candlestick’s close time.
Gross Domestic Product is the total value of a country's output, income, or expenditure produced within its physical borders.
a dealer in contracts for differences on spot foreign currencies, stocks, and futures.
refers to easier monetary policy or higher interest rates: opposite to dove.
combination of positions or a position that reduces the risk of your primary position.
OrbitGTM margin requirements for maintaining locked positions.
short name for Hong Kong Seng Index.
OrbitGTM requirement for security collateral to open a position.
a request execution type that means all quotes shown in the Client Terminal can be accepted by OrbitGTM for customer trading, with no preliminary requests for quotes.
symbol for S&P 500 index.
short name for the NEKKEI index.
slang for the NZD/USD currency pair.
transaction size/margin ratio (e.g. 1:100 leverage means the customer needs to have 1% of the transaction size in his/her account as security collateral or margin).
The London Inter-Bank Offered Rate, which banks use as a base for international lending.
consists of equal long and short positions on the same instrument; locked positions require 50% of the summarized margin for both positions.
customer account’s unique identification number.
between the hours of 08:00 to 17:00 (London).
when the pair’s base currency is bought, the position is deemed long.
slang for the Canadian dollar, which is also known as Funds.
a transaction size unit in MT4, where: 1 lot is equal to a contract on 100000 base currency units for currency pairs; 1 lot is equal to one unit of an underlying security for stock CFDs.
A number of base currency units or underlying asset units that are specified by OrbitGTM contract as a transaction size per 1 standard lot.
a summarized value of the customer’s account funds that are reserved as security collateral for maintaining that customer’s open position; in accordance with OrbitGTM margin requirements.
an equity/margin percentage ratio.
a customer trading service utilizing the leveraged technique, which allows the customer to make transactions exceeding his/her account deposit.
order execution mode where a transaction is processed at the best price available on a trade server.
the time when instruments become available for customer trading after weekends, holidays, regular closing intervals, or server downtimes.
an electronic instruction for opening a position in the customer’s account, at the current market price.
a request for modification of a pending order level; a request for placement, cancellation or modification, or Stop Loss & Take Profit levels on an open position or pending order.
a software platform designed for online trading, which is the technology base for OrbitGTM customer trading services; consisting of MT4 Client Terminal (customer terminal), MT4 Server, MT4 Data Center, MT4 Multiterminal, MT4 Mobile and MT4 Smartphone.
a request or instruction to close all locked positions in a customer's account.
between the hours of 08:00 am to 05:00 pm (New York time).
the opposite of a rapid market; where there are no market data errors.
a contract for buying or selling an instrument within the customer’s account; the first part of a complete transaction and an obligation to make an equal counter transaction afterward; also treated as the customer’s obligation to satisfy OrbitGTM margin requirements and to maintain, without notice or demand from OrbitGTM, a sufficient account balance at all times that continuously meets OrbitGTM margin requirements and the equity/margin minimum ratio specified by OrbitGTM (e.g. a minimum ratio of 30%).
an electronic instruction for opening or closing a position in the customer’s account on a specified instrument, in the event its price reaches the specified level.
a price specified by the customer in the order placement request as an instruction for opening a position in his/her account, at this price, and under conditions determined by the order type.
describes any transaction that is not conducted via an exchange.
an electronic instruction for opening a position in the customer’s account, in the event the price of a specified instrument reaches a specified level; the customer is enabled to use pending orders that include Buy Limit, Sell Limit, Buy Stop and Sell Stop.
the time which the OrbitGTM server is synchronized with; a time zone which is used for recording any events into the server log-file; OrbitGTM MT4 is currently synchronized with London time (GMT+0; daylight saving time - GMT+1).
a minimum price change (e.g. 0.0001 for EUR/USD); also called a Pip.
a two-way quote consisting of Bid and Ask prices; a position’s opening or closing price; an order level.
an event where the current Bid price is above the previous Ask price and vice versa.
an electronic message about the current price displayed in the Client Terminal, which consists of demand price (Bid) and supply price (Ask).
OrbitGTM server archive file, which contains historical quotes.
providing the customer with quotes that OrbitGTM may accept for buying or selling instruments in his/her account.
market conditions characterized by significant price changes in short periods of time that frequently cause wide gaps between consecutive quote values; commonly occurs immediately before and/or after important events (e.g. key economic reports on any G7 countries, press conferences by G7 financial ministers or central banks’ chairmen, central bank’ decisions on interest rates, market interventions, political or natural force majeure such as war or terrorism).
the base currency value in the quoted currency for a currency pair; the underlying asset value for a CFD.
an electronic instruction for opening or closing a position, placement, cancellation, or modification of an order that is given by the customer via the Client Terminal; a query for a two-way quote.
a pending order for establishing an open Sell position in the customer’s account, in the event the price on the specified instrument rises to the specified level; can only be executed at the Bid price and placed above the current Bid price of the specified instrument.
an open position, which represents the expectation that the market price will decline (e.g. selling the base currency against the quote currency or selling a contract for difference on an underlying security rate).
a pending order for establishing an open Sell position in the customer’s account, in the event the price on the specified instrument falls to the specified level; can only be executed at the Bid price and placed below the current Bid price of the specified instrument.
the MT4 server that transmits requests from the Client Terminal to dealers, sends (i.e. news, quotes, execution confirmations) to the Client Terminal and records all messages related to the customer trading process; it maintains mutual liabilities between OrbitGTM and our customer, which are formalized in the OrbitGTM Customer Agreement, contract details, and margin requirements.
a text file generated by the MT4 server that is used for recording all events related to customer trading and platform performance, including all dialogues between client terminals and dealers.
a price gap between the first quote of the current market session and the last quote of the previous market session.
a parameter of Expert Advisor that sets-up the maximum difference between the requested price and the dealer’s price, that is acceptable to Expert Advisor for opening a position in the customer’s account; a difference between the order’s price and its actual price execution.
an incorrect quote generated by the server because of a data feed error; commonly looks like a significant price gap returning close to the previous level on the next price update, with no signs of the rapid market around; OrbitGTM has the discretion, but not the obligation, to remove such errors from its quotes database.
a partial position closing (e.g. closing 0.5 lots of 2 lots).
the difference between Bid and Ask price, which is evaluated in points.
an order for closing a specified open position at a specified level, in the event the price moves in an unfavorable direction; can only be executed at the Bid price and placed below the current Bid price with reference to Buy positions; can be only executed at Ask price and placed above the current Ask price with reference to Sell positions.
compulsory closing of the customer’s open positions by OrbitGTM, in the event the customer’s account does not satisfy OrbitGTM margin requirements.
Straight Through Processing, i.e. passing all transactions electronically to the execution venue without human intervention.
an amount of overnight adjustments paid or charged to the customer’s account at 23.59 in the platform’s time zone, in accordance with values specified in OrbitGTM contact details; it is a daily settlement for margin trading services.
It is a slang word for the Swiss Franc.
an object of an electronic transaction (e.g. currency pair, stock CFD, futures CFD); an instrument within MT4.
an order for closing a specified open position at a specified level, in the event the price moves in a favorable direction; can be only executed at the Bid price and placed above the current Bid price with reference to Buy positions; can be only executed at Ask price and placed below the current Ask price with reference to Sell positions.
periods of low trading activity and amounts of quotes per time, as compared to normal market conditions (e.g. periods between 21.00 and 00.00 GMT and before Christmas holidays).
a unique identification number of a position, order, or balance operation in the customer's account.
a built-in option of the Client Terminal that automatically adjusts a Stop Loss order level by a specified amount of points, if the favorable price motion exceeds this amount; it only works with the Client Terminal connected to the server.
an operation consisting of two equal counter trades in a specified instrument.
lot size multiplied by the number of lots.
a chart shape showing a gradual price rise back to its previous peak, after a gradual decline.
short name for Brent Crude Oil.
short name for the FTSE 100 index.
a new price quote, at a price higher than the previous quote.
short name for WTI Crude Oil.
short name for the Dow Jones index.
a chart shape showing recovery that involves a sharp rise to a previous peak, after a sharp decline.
the future date on which counterparts to a financial transaction agree to determine the value of a product’s price; for a spot foreign exchange trade this date is normally two business days after a transaction is agreed.
measure for fluctuation of the price of a financial instrument over time; delegate to an active market that represents trading opportunities.
a chart shape showing a change of sharp decline, rise, decline, and ending with another sharp rise; the middle part of the shape can be lower than two price peaks on each side.
slang for a very high volatility market where the price is moving similar to a ‘whipsaw’ at work; the price movement is followed by a sharp and quick reversal movement.
Stop or Limit orders that have been placed but not filled yet.
symbol for the Silver Index.
symbol for the Gold Index.
any measurable event that recurs annually; a popular way to compare the performance of investments.
the percentage-based income return on investment.
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