forex glossary


Check our forex glossary in order to understand common words, phrases and terms used by forex traders.

Forex glossary

One Cancels Other. Two orders placed, where if one is completed it cancels the other.

The price at which you can buy at.

The price at which the market is prepared to sell a product. Prices are quoted two-way as Bid/Offer. The Offer price is also known as the Ask. The Ask represents the price at which a trader can buy the base currency, which is shown to the right in a currency pair. For example, in the quote USD/CHF 1.4527/32, the base currency is USD, and the ask price is 1.4532, meaning you can buy one US dollar for 1.4532 Swiss francs. 

In CFD trading, the Ask represents the price a trader can buy the product. For example, in the quote for UK OIL 111.13/111.16, the product quoted is UK OIL and the ask price is £111.16 for one unit of the underlying market.* 

If a market is said to be trading ‘offered’, it means a pair is attracting heavy selling interest, or offers. 

A trade that cancels or offsets some or all of the market risk of an open position. 

Attempting to sell at the current market order price. 

A designation for two orders whereby if one part of the two orders is executed, then the other is automatically cancelled. 

An option that pays a fixed amount to the holder if the market touches the predetermined Barrier Level. 

An order that will be executed when a market moves to its designated price. Normally associated with Good 'til Cancelled Orders. 

An active trade with corresponding unrealized P&L, which has not been offset by an equal and opposite deal. 

A derivative which gives the right, but not the obligation, to buy or sell a product at a specific price before a specified date.

An instruction to execute a trade. 

A system used to show market depth of traders willing to buy and sell at prices beyond the best available. 

Over The Counter. A market not traded on a recognised exchange.

The price at which CLIQ FX is willing to buy or sell at.

When a market has been aggressively bought causing the price to move to unsustainably high levels.

When a market has been aggressively sold causing the price to move to unsustainably low levels.

Used to describe any transaction that is not conducted via an exchange. 

A trade that remains open until the next business day.

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