CWG Markets: Best CFD Trading Platform For Beginners

ACCOUNT	A Real, demo or IB account that the trader opened with the broker. Not to be confused with client’s Personal Area on the website.
ACCOUNT MONITORING	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.
ACTIVE CLIENT	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.
ARBITRAGE	The trade when purchase and sell of the asset happen simultaneously in order to take an advantage of a price difference between two or more markets. It is a practice that profits by taking advantage over price differences of the same or similar financial instruments, on different market. Arbitrage trading strategy is strictly prohibited by CWG customer agreement. In case a client uses arbitrage, the company reserves a right to cancel such orders.
ASIAN SESSION	One of the three major trading sessions that opens at 00.00 EET (01.00 EEST) and ends at 10.00 EET (11.00 EEST) when market is operating through financial centers in Japan, China, Australia, New Zealand, and Russia. The most traded currency during Asian Session is Japanese yen.
ASK PRICE	The price at which an asset can be bought, also known as the offer price. A buy order is opened by the ask price, while a sell order is closed by it. It represents how much you will get in the quote currency for selling one unit of base currency.
ASSET ALLOCATION	An investment strategy that implies a distribution of instrument funds among markets in order to achieve diversification or maximization of return.
ASX SPI 200 Index (AUS200)	Market index of Australian stocks listed on Australian Securities exchange
AUSSIE	An unofficial term for Australian Dollar or AUD/USD pair.
AUTOCHARTIST	A leading provider of technical analysis based price predictions which offer a powerful tool scanning the market for trading opportunities 24/5.
AUTOTRADING	A trading strategy based on a system or a program (for example, an Expert Advisor or a cBot) where buy or sell orders are placed automatically under specific market conditions. These conditions can be various and are usually based on price movements and technical indicators. Autotrading often allows to enter and exit positions at much higher rate than manual trading. Expert Advisors are created in MetaEditor in MQL 4 programming language and are used in Metatradrer trading platform. cBots are specifically written for cTrader in C# language with cAlgo code editor.

BACK TESTING	The process of testing an Expert Adviser or a cBot over historical prices to determine how it would 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.
BALANCE	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 supporting the open positions is a part of the balance. When a client has no open positions, balance denotes client’s personal funds.
BANK RATE	The rate at which a central bank lends money to its domestic banking system.
BAR CHART	A type of OHCL chart on which the top of the bar indicates the highest price and the bottom represents the lowest price over the period of time. Opening price is shown on the left side of the bar and closing price is shown on the left.
BASE CURRENCY	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.
BEAR	A trader who assumes that the asset price will decline in the future and attempts to profit by opening short positions. The opposite of Bull.
BEAR MARKET	A period of time, which the asset price consistently falls. It usually occurs when the economy is in recession or when the inflation is high.
BEARISH CANDLESTICK	A candlestick indicates that the currency pair closed is lower than it opened at.
BID PRICE	The price an asset can be sold at. Sell orders are opened by the bid price and buy orders are closed by it. Bid price represents how much of the quote currency is needed for get one unit of the base currency.
BITCOIN	A digital currency used to make transactions via decentralised block chain technology. Transactions are supported by ‘miners’ whose computers process transactions and who are rewarded for that in Bitcoins.
BONUS	The extra amount of funds given by the broker to a client as a promotion, often under certain conditions.
BREAWKDOWN	The price movement through an identified level of support. Breakdown is normally followed by sharp declines and heavy volume.
BREAKOUT	A situation where the price moves through an identified level of support or resistance. It is often followed by increased volatility and heavy volume.
BROKER	Brokers are individuals or firms that act as intermediaries between buyers and sellers. In foreign exchange, brokerage provides 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.
BRONZE	Represents the user status when the user's overall balance exceeds 5 USD. This status allows its holders to enjoy 24/7 Customer Support and commission-free deposits and withdrawals. Once achieved, this status cannot be downgraded.
BULL	A trader who expects the price to rise and attempts to profit from this upward movement by opening long positions. Bull is considered to be the opposite of Bear.
BULL MARKET	A period of time when the market that is on the rise, that is, the price of the asset is growing continuously and is expected to increase further. Economy during such period is usually strong and the level of employment is high.
BULLISH CANDLESTICK	A type of candlestick indicating that the currency pair closed is higher than it opened.

CABLE	An unofficial term used referring to Great British pound and the GBP/USD currency pair.
CAC 40 INDEX (FRA40)	The most widely used indicator of Paris Market, covering the performance of 40 largest equities listed in France
CANDLESTICK CHART	A type of chart that displays high, low, open and close prices for a period of time. The wide part of the candlestick shows whether the closing price was higher or lower than the open price. The former is referred as to Bullish candlestick and the latter is called Bearish candlestick.
CBOT	The software written in C# programming language designed to automatically execute orders in cTrader when specific market conditions are met. It is created in cAlgo - a code editor provided by Spotware systems.
CENTRAL BANK	The bank which is responsible for managing a country's monetary system. Central bank is involved into the process of currency stabilization, maintaining low inflation and keeping full employment. It also issues currency, acts as the bank of the government, regulates the credit system, as well as controls commercial banks.
CFD	A contract for difference (CFD) is a derivative financial instrument which enables trading in an asset without actually owning the underlying asset. The price of the CFD reflects the price of the underlying asset. The CFD is essentially a contract between a trader and a spread-betting company. When a trade is closed, the two parties exchange the difference in the asset's price from when the trade was initiated.
CHART	A graphical representation of prices over a set period of time used for technical analysis. MT4 and cTrader have 4 types of chart available: line chart, bar chart, tick chart and candlestick chart.
CHART PATTERN	A distinct formation on a chart that creates a trading signal or indicates the further price movement.
CLOSED POSITION	A transaction that leaves the trade with a zero net commitment to the market with respect to a trading instrument.
CLOSING ORDER	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.
COMMISSION	Commission is a service fee charged by the broker from the client. It can be applied to deposit or withdrawal of funds, opening or closing a position, keeping a position overnight. CWG does not charge any fee for deposit or withdrawal. Our trading commission is already included in the spread as a markup on MT4 accounts and MT5 accounts and we charge round-turn commission on cTrader ECN accounts. We charge a 3-day fee on mt5, swap on MT4 Micro and a weekly rollover fee on cTrader ECN account
COMMODITIES	Are goods that are traded over an exchange, including hard commodities (gold, silver, platinum, crude oil) and soft commodities (wheat, corn, coffee, sugar).
COPIER	A client who copies the trades of other traders (Masters) via CWG Copytrading.
COPYTRADING COMMISSION	The Master’s remuneration charged to the Copier for trades copied via CWG Copytrading. Masters can set any commission amount for copying their orders, from 1 USD to 15 USD per trading lot opened by a Copie
COUNTERPARTY	The other organization or party with whom the exchange deal is being transacted. In other words, every buyer must be paired with a seller in order to perform a transaction.
CPI (CONSUMER PRICE INDEX)	The statistical measurement of average consumer goods and services prices used to identify periods of inflation and deflation. Large rises in CPI during a short period of time typically denote inflation, while large drops over a short period of time mark periods of deflation.
CROSS RATES	The rates between two currencies that are based on the price of each of them against a third currency.
CRYPTOCURRENCY	A new digital currency based on blockchain technology, which provides secure, decentralised and anonymous transactions between clients.
CTRADER	A trading platform designed by Spotware Systems specifically for ECN brokers. cTrader allows reverse, double or close all positions in one click and has Level II quotes available.
CURRENCY PAIR	The quotation of one currency in terms of the other, for example EUR/USD, NZD/CAD. The first currency is called a base currency and the second currency in the pair is known as a quote currency. When you open a Buy order, you buy the base currency and sell the quote currency. It is opposite for a Sell order - you sell the base currency and buy the quote one.
CUSTOMER SERVICE	A department dedicated to respond clients’ inquiries, consult on the company services, handle and resolve issues. It can be provided through various means, including email, live chat, phone and social media.
cAlgo	A coding application that allows a programmer to create, build, optimize and backtest cBots and custom indicators in C# programming language.

DAX 30 INDEX (GER30)	German stock index consisting of 30 major German companies traded on Frankfurt Stock Exchange
DAY TRADING	The practice of buying and selling a trading instrument within one day in order to profit from relatively small movements in price. Also referred as to intraday trading.
DEALING DESK	A broker that acts as counterparty to its clients’ orders which may create a conflict of interest. Orders placed with a dealing desk broker are internalized instead of being offset with the liquidity providers. Moreover, a Dealing Desk sets bid and ask price, therefore its quotes often do not reflect the market situation accurately. Also referred as to market marker.
DEMO ACCOUNT	Demo account is a trading account that allows a trader to become familiar with a trading platform without making a deposit. Funds are simulated in the demo account therefore you can try it out. There are available trading tools and other features to test your trading strategy risk free. CWG demo account provides the same conditions as real account. Open the free forex demo account here.
DEPOSIT	A transaction involving a transfer of funds to one’s trading account. Deposited funds are credited to account balance and used to open orders.
DEPOSIT BONUS	A promotion intended to increase trading volume and overall revenue of the client. Bonus funds support account margin and can be withdrawn after completing bonus amount/2 standard lots.
DERIVATIVE	A contract between two or more parties used for speculating purposes. Its price is derived from or depends on the underlying asset (for example, a share or a commodity). Derivatives may be exchange based (e.g. futures and options) or OTC (e.g. CFDs). The former are traded through an organised exchange while the later are traded between two parties
DIRECT QUOTATION (QUOTE)	A foreign exchange rate quoted in fixed units of foreign currency against variable amounts of the domestic currency.
DOVE	An economic policy advisor that promotes maintenance of low interest rates assuming that inflation will have little to no impact on society. The statement such advisors make are referred as to “dovish”. The antonym for Hawk.
DOW JONES 30 INDEX (US30)	A price weighted stock market index of 30 most significant companies (Microsoft, Disney, Exxon, General Electric, etc) traded on the NYSE; often considered to be the most watched index in the world. Get US30 live charts and quotes.
DRAWDOWN PERCENTAGE	The volume expressed as a percentage below which the equity of your investment as a Copier with a single Master can’t fall below in order to control your loss risk (available in CWG Copytrading). It can equal any percentage from 1% to 100%. For example, when it is set to 20%, new trades won’t be copied if your current equity falls below 80% of your current balance. The drawdown percentage is calculated as follows: Equity (Copier) < (100% – Deposit Percentage) × Balance (Copier).

EASING	A moderate decline in price.
ECN	Stands for Electronic Communication Network; an automated system that matches and executes buy and sell orders by offsetting them with the liquidity providers without dealer intervention. It aggregates prices from multiple liquidity providers and streams the best bid and ask to the trading platform. (To read more about ECN trading model click here.)
ECN BROKER	A brokerage which provides its clients direct access to other participants in the foreign exchange market using electronic communication networks (ECNs). Since an ECN broker receives quotes from several liquidity providers, it is usually able to offer tight spreads. ECN broker does not trade against its clients but rather serves as an intermediary between them and the real market.
ECONOMIC CALENDAR	A calendar used to keep track of market moving events, such as interest rate decisions, non-farm payroll numbers, and changes in gross domestic product (GDP), Consumer Price Index (CPI) and Purchasing Managers' Index (PMI). Scheduled data releases are usually graded by the impact they have on the markets
ECONOMIC INDICATOR	A government-issued statistic that indicates current economic growth and stability. Common indicators include employment rates, Gross Domestic Product (GDP), inflation, retail sales, etc.
EQUITY	The amount of funds on an account that includes balance and floating profit/loss. When there are no open positions on the account, equity is equal to balance. In case of claiming a 50% deposit bonus, until the volume requirements are met, deposit bonus funds are a part of account equity as well.
ETHEREUM	A digital currency created in 2015. It uses a blockchain for transactions based on a smart contracts system. It works using an ‘if:then’ algorithm. The contract is executed only if the condition is met. Ethereum is used for ICO (initial coin offering), which is a means of crowdfunding for new startups.
EUROPEAN SESSION	The trading session that operates through financial centers in Paris, Frankfurt, Zurich, and London. The most active currencies in this session are the GBP, EUR, and CHF. European session opens at 9.00 EET (10.00 EEST) and closes at 18.00 EET (19.00 EEST).
EUROSTOXX 50 INDEX (EUSTX50)	Index representing 50 largest and most liquid stocks from 12 Eurozone countries. Get EUSTX50 live charts and quotes.
EXECUTION	Is the way the broker fills client’s order. An order is deemed to be executed as soon as it is accepted by the broker and filled. Depending on its type, a brokerage can apply market execution or instant execution. With instant execution a broker undertakes to fill the order at the price requested by the client. If the requested price is not available anymore, the broker will return request with a requote. Brokers that operate under market execution offset all clients’ order with the liquidity providers to be executed at their end. Orders are always executed at the best available price at the market.
EXOTIC CURRENCY	A currency which is not broadly traded.
EXPERT ADVISOR (EA)	An algorithmic trading system written for MetaTrader trading platform that executes orders under the market conditions it was set up to observe. Expert Advisors’ developers use MQL programming language and MetaEditor coding application.

FALLING WEDGE	A bullish chart pattern formed by two descending trend lines indicating whether upward trend is about to reverse or to continue.
FAST MARKET	A financial market that is typified by high levels of volatility and heavy trading.
FIBONACCI	An indicator based on so called Fibonacci numbers, that is a sequence of numbers where each number is the sum of two preceding numbers. Interpretation of the Fibonacci numbers allows to a trader to identify key levels of support and resistance.
FIX API	A protocol providing interaction with the cTrader server. FIX stands for Financial Information Exchange; API is an interface providing access to it. FIX API conducts exchange of financial information, quotes, order types, etc., via special FIX messages between traders and servers. It allows retail traders to access and perform trading and all collateral functions directly in the cTrader account from an external system or platform.
FIXED SPREAD	The difference between Ask and Bid prices that remains the same even though the prices are changing. As opposed to floating spreads, fixed spreads do not fluctuate because of market conditions. Fixed spreads allow trading with confidence, as traders know the trading costs at any time, regardless of the period of the day, regardless of levels of liquidity or volatility. CWG offers fixed spread on MT4 Micro accounts. To activate Fixed spread feature just create a new trading account. If you already have MT4 Micro USD trading account, please contact support to activate Fixed spread option.
FLOATING SPREAD	The difference between Ask and Bid prices that may vary depending on the market situation. It accurately reflects the prices of trading instruments and how quickly they are changing. Floating spread may have range that is lower than typical when the market is quiet and liquidity is high.
FOREX CALCULATOR	A tool designed to calculate required margin, pip price, long and short swap for a specific position.
FOREX MARKET	It is the largest and most liquid market in the world where participants buy, sell and speculate on currencies. Among these participants are banks, commercial companies, central banks, hedge funds and retail forex brokers. FX market is open 24 hours a day and 5 days a week. It has no central marketplace and involves a global network of computers and brokers with major financial centres in London, New York, Tokyo, Zürich, Frankfurt, Hong Kong, Singapore, Paris and Sydney.
FOREX TRADING STRATEGY	A set of analytical tools based on news events or technical analysis of charts. Strategies can be manual, which involves a trader tracking and interpreting the signals, and automated, which involves the use of software designed to track and interpret the signals. Both manual and automated trading strategies are available for purchase or can be developed by the traders themselves.
FUNDAMETAL ANALYSIS	A method of analysis based on examining current economic conditions, government policy and societal factors within a business cycle framework in an attempt to predict future market conditions.
FUTURE CONTRACT (also referred to as FUTURES)	An agreement to buy or sell particular currency or option at a specified price and time in the future. Some Forex brokers offer futures among other trading instruments.
FX	An acronym for Forex, which is an abbreviation for Foreign Exchange Market.

GDP	An abbreviation for Gross Domestic Product; the value of all goods and services produced in a country within a specific period of time that indicates the economic health of a country.
GOLD	Represents the user status when the user's overall balance exceeds 2,500 USD. This status allows its holders to enjoy all the benefits of Bronze and Silver, as well as the ability to make faster withdrawals and deposits, trade with lowers spreads on the Forex extended currencies, complete deposit bonuses under better terms (the number of the lots to trade equals the bonus amount divided by 2.5), and accumulate more prize lots (1.5 prize lots for 1 lot traded). Gold status holders can be downgraded to Silver if their balance goes below 2,000 USD.
GRID TRADING	A trading technique employed during normal price volatility in currency markets by placing sell and buy orders at specified regular intervals below and above a predetermined base price.
GTC (GOOD-TILL-CANCELLED)	A type of pending order with no period of validity which remains active until cancelled or executed.

HAWK (ISH)	A policymaker or an advisor that favours high interest rates in order to keep inflation in check; Such policy or statement made by this advisor are called hawkish; hawk is opposite of dove.
HEAD AND SHOULDERS	A chart pattern indicating that the current trend is about to reverse.
HEDGE	A transaction opened to protect an existing or anticipated order from an unwanted price movement.
HEDGING	A trading strategy used to minimize the risk in forex trading. A forex hedge is opening a trade in opposite direction to protect the existing one from an unfavourable move.

IB	A person or a company that refers client to a broker and receives commission for their trading.
IB COMMISSION	The revenue an IB receives per lot traded by his or her referral.
IB rank	A certain IB status, that determines the commission per lot traded. It depends on the number of active clients an IB has.
INDIRECT QUOTE	A foreign exchange rate quoted as the foreign currency per 1 unit of domestic currency.
INTERBANK MARKET	A decentralized market where banks and other financial institutions conduct transactions. For individual traders, this is the source of price quotes and is where forex brokers offset their positions
INTERNAL TRANSFER	Funds transfer from one trading account to another within an individual’s account
INTRADAY TRADE	An order opened and closed during the same business day. Also known as day trading.
ISLAMIC ACCOUNT (SWAP FREE)	An account specifically designed for traders of Islamic Faith that has no swap applied during a rollover but a fixed fee instead. The fixed fee is not an interest. It primarily depends on whether the order is buy or sell.

JAPANESE CANDLES	A type of OHLC chart visualized in the form of rectangular shaped "body" with a vertical line on both the top and bottom (the "wicks"). Each candle represents a specific time period and shows whether the closing price was higher or lower than opening price.

LIMIT ORDER	An order to open a position at specified price or better. Until the price is reached, the order is considered to be pending and does not affect account equity or free margin. For a buy limit order open price should be below the current ask price. Sell limit order price should be above current bid.
LINE CHART	A type of chart created by connecting the closing price for each interval with a line.
LIQUIDITY PROVIDER	A company, a bank or a financial institution that quotes both a buy and a sell price in a financial instrument or commodity.
LONG POSITION	A position opened by a buy order and closed by a sell order.
LOT	The measurement of order’s volume. 1 standard lot (1.00) equals 100 000 units of base currency. 1000 Units of Base Currency (0.01) are often referred as to micro lot and 10 000 Units (0.1) are called Mini lot.

MAJORS	The most commonly traded currencies: EUR, USD, GBP, JPY, CAD, AUD, CHF, NZD. Major currency pairs comprise of US dollar another major currency from the list
MARGIN CALL	The point at which additional funds may be required to maintain open positions should the market go against the trader.
MARGIN LEVEL	The relation between account's current equity and required margin calculated as equity/required margin*100%.
MARKET DEPTH	Also known as Level II quotes. It’s the liquidity that is available at different prices levels of a currency pair.
MARKET GAP	A market situation when: Current Bid price is higher than the Ask of the previous quote; Current Ask price is lower than the Bid of the previous quote. It may occur during major news releases, on the start of a new trading week and high volatility periods. Also referred as to Price gap.
MARKET MAKER	A type of brokerage that acts as the counterparty to the clients’ orders. It holds the other side of clients' trades and receives profit from clients’ losses. Also referred as to dealing desk broker.
MARKET MOVEMENTS	An evaluation of how much the price of an asset has changed that identifies how volatile the underlying asset is.
MARKET ORDER	It is an order to buy or sell a currency pair at the best available current price. It does not contain any restrictions on buy/sell price or any specific timeframe.
MARTINGALE	A trading strategy based on 18th century gambling system. The main principle is to double the volume each time you lose so that if you win you recover a previous loss and will also gain the first bet amount.
MASTER	A trader who allows others to copy his or her trades for a fee via CWG Copytrading.
METAEDITOR	A coding application specifically designed by MetaQuotes to develop, edit and compile Expert Advisors in MQL programming language.
METATRADER4	A trading platform developed by MetaQuotes Software and released in 2005. The platform provides a variety of tools that allow traders to analyze price, place and manage trades, and employ automated trading techniques.
MICRO LOT	The equivalent of 1000 units of the base currency expressed in lots (0.01).
MOBILE TRADING	Mobile trading allows traders to access the trading platform from their mobile devices. We offer both MT4 and cTrader applications for IOS and Android.
MOMENTUM	An indicator measuring the acceleration of price change.
MOVING AVERAGE	A trend-following technical indicator widely used to identify general price direction and to determine support and resistance levels.
MetaTrader5	The new generation of MetaTrader platform unlike its predecessor, offers more tools for technical and fundamental analysis

NFP	A statistic reported on the first Friday of the month by the U.S. Bureau of Labor Statistics representing the total number of paid U.S. workers of any business excluding government, private household, nonprofit organizations and farm employees. The statistic is determine the current state of the economy and predict future levels of economic activity.
NON DEALING DESK (NDD)	A foreign exchange trading that provides access to interbank market. Unlike a market maker, a broker using no dealing desk system automatically offsets positions with interbank. An NDD broker has multiple liquidity providers in order to get the most competitive bid and ask prices.
NORTH AMERICAN SESSION	The trading session that opens at 14.00 EET (15.00 EEST) and closes at 23.00 EET (00.00 EEST). It is is dominated by U.S. transactions, with contributive trades coming from Canada, Mexico, and South America.

ORDER	An instruction from the trader to open, close or modify a position.

PIP	A standardized unit of change in the price of a trading instrument. Initially, when only 4-digit pricing was available, it was the smallest unit of price change. With the introduction of more accurate 5-digit pricing, 1 pip is still calculated by the 4th digit (0.0001). The smallest unit is now referred as to point (0.00001). In 5-digit pricing 1 pip is equal to 10 points. Example: When the price for EUR/USD currency pair changes from 1.11634 to 1.11645, it means the price has changed in 1.1 pips or 11 points. For USD/JPY currency pair, which has 3-digit pricing, a change from 123.857 to 123.864 means that the price has grown in 0.7 pips or 7 points.
PIVOT POINTS	A set of indicators that allows determining potential turning points, also known as "pivots". They are calculated as the average of the high, low and close from the previous trading session: (high price + low price + close price)/3
PLATINUM	Represents the user status when the user's overall balance exceeds 10,000 USD. This status allows its holders to enjoy all the benefits of Bronze, Silver, and Gold, as well as to get experts prompts on their trading, be assigned with a personal manager, attend VIP events, complete deposit bonuses under better terms (the number of the lots to trade equals the bonus amount divided by 3), and accumulate more prize lots (2 prize lots for 1 lot traded). Platinum status holders can be downgraded to Gold if their balance goes below 8,000 USD.
PMI	An economic indicator denoting economic health of the manufacturing sector that is based on new orders, inventory levels, production, supplier deliveries and the employment environment. Index reading over 50 represents expansion of manufacturing sector, under 50 indicates a contraction and a reading at 50 indicates no change.
POINT	The smallest unit used by traders to measure price change in 5-digit pricing (0.00001). In 5-digit pricing 1 point equals 0.1 pips.
PPI	A set of indexes that measures monthly change in selling prices received by domestic producers.
PRACTICE ACCOUNT	Also known as demo account; a type of trading account that allows to review and test platform features funded with simulated funds.
PRECISION	The accuracy of changes in currency pair price. Until recently Forex Brokers offered only 4-digit pricing. Nowadays 5-digit pricing is more common.
PRICE GAP	A situation when current Bid price is higher than the Ask price of previous quote or when the current Ask price is lower than the Bid price of the previous quote. Gaps often occur after economic data or news releases and on the start of new trading week. A price gap may be enclosed in a candle and not visible on the chart.
PROFIT	The revenue gained by a trader measured in pips or in account currency.
PROFIT FACTOR	An index of trading skills. It is calculated from the ratio of all your profit from profitable trades to all your losses from unprofitable trades. If this ratio is above 1.6, your trading is effective. If it is below 1.6, you are taking too much risk in your strategy.
PULL BACK	A type of price movement denoted by the falling back of price from its peak.

REAL ACCOUNT	An account that allows traders to place orders in the real market and requires a deposit to be able to do so, unlike a demo account.
REBATE	The returns of a certain part of the commission an IB received from client's trading paid on a regular basis.
REBATE CALCULATOR	A tool that allows an IB to calculate the amount he or she should pay to his referral as rebate.
REQUOTE	A situation when a Market Maker, unable or unwilling to fill an order at the price requested by the client, sets an execution delay and returns the request with a different quote, often less favourable for the client. Brokers that operate under market execution have no requotes and always fill the order at the best available market rate.
RESERVE CURRENCY	The foreign currency held by central banks to pay off international debt obligations, or to influence their domestic exchange rate.
RESISTANCE (LEVEL)	The price level where a trading instrument tends to find resistance as it is increasing and is more likely to to stop and reverse.
REVERSAL	Is the change in the direction of price trend.
RISING WEDGE	A bearish chart pattern formed by two ascending trend lines indicating whether downward trend is about to reverse or to continue.
RSI	A technical indicator intended to measure the strength or weakness of the market based on the closing prices.

SAFE HAVEN	A globally traded currency that is expected to retain or increase its value during high volatility periods. It is characterized by long-term stability of its purchasing power and often services as reliable and stable store of value. The following currencies are often recognized as safe haven: USD, EUR, CHF, GBP.
SEGREGATED ACCOUNTS	A type of bank accounts brokers use to keep clients funds separate from the company's sheets. The measure is indented to keep clients' funds safe and secure.
SENTIMENT	The prevailing attitude toward a particular security or larger financial market based on a variety of fundamental and technical factors, including price history, economic reports, seasonal factors, and national and world events.
SHORT POSITION	The position opened by a Sell order and closed by a Buy order.
SILVER	Represents the user status when the user's overall balance exceeds 1,000 USD. Silver status allows its holders to enjoy all the benefits of Bronze, as well as to get trading signals from Autochartist, claim premium gifts in Trade and Win, and accumulate more prize lots (1.25 prize lots for one lot traded). These status holders can be downgraded to Bronze if their balance goes below 800 USD.
SPIKE	A slight open or close price movement that occurs due to lack of liquidity at the requested price or market gaps. Depending on the market conditions, the order may be filled at a more favourable rate (positive slippage) or less favourable rate (negative slippage). If a broker has a deep liquidity pool, only few orders will experience slippage. It is more common during high volatility periods, major news releases or when the market is illiquid.
SPREAD	The stop out algorithm applied on cTrader accounts where once the margin level falls below the stop out level all open positions are partially closed, as opposed to the algorithm where the positions are closed in their entirety.
SSL PROTECTION	A comparatively large upward or downward price movement over a short period of time. This non-market spike may occur due to a transaction that entered the system by mistake or a technical issue. If a client experienced a loss due to an off-market spike, CWG either compensates the funds lost or deletes the order.
STATUS	The difference between the lowest ask price and the highest bid price, which is measured in Pips. The bid price is always lower than the ask price. Example: When EUR/USD bid is 1.13583 and ask is 1.13588, spread is equal to 0.5 pips. Currency pairs have different spreads depending mostly on their liquidity. The more liquid a currency pair is, the tighter its spread.
STOP LIMIT ORDER	A security technology that establishes an encrypted link between a web server and a browser in order to keep all data passed between the web server and browsers private and integral.
STOP ORDER	Represents the user's level in CWG's status program that determines the set of benefits the user can enjoy. The higher the users' overall balance, the higher is their user status. Higher status holders have access to more benefits.
STOP LOSS ORDER	A pending order which combines features of stop order and limit order: it becomes a buy limit or sell limit once the price reaches your stop level.
STOP OUT	A pending order that determines the price the position should be opened at. Buy stop order is entered above the current ask price and sell stop order is entered below the current bid price.
SUPERCHARGED	A real contest that gives CWG client an opportunity to win one of the prizes by trading adroitly with his or her real account.
SWAP	The payment for holding a position overnight. Swap can be negative or positive.
SWAP-FREE ACCOUNT	A type of account designed for traders of Islamic faith that has fixed fee instead of swap. The fee is not an interest and depends on the direction of the order.

TECHNICAL INDICATOR	A tool used in to analyse charts and price movements
TICK	The minimal upwards or downwards movement in a trading instrument price; tick value is not fixed and fluctuates depending on the market conditions.
TICK CHART	A type of chart based on a certain number of transactions per bar, as opposed to time based Candlestick, Bar or Line charts.
TRADE	The instruction from a trader to a broker to buy or sell a specified financial instrument.
TRADING PLATFORM	The software provided by the broker that allows a trader to open, close and manage positions, observe and analyze charts. We offer two trading platforms for our customers: Metatrader 4 and cTrader.
TRADING VOLUME	The size of an order measured in lots.
TRIANGLE	A chart pattern used to confirm current trend: descending triangle indicates that the price is going to fall while ascending triangle is believed to prove that the price is going up.

UPTICK	The transaction executed at a price greater than the previous transaction.
USER STATUS	The user's level in CWG's status program that determines the set of benefits the user can enjoy. The higher the users' overall balance, the higher their user status is. Higher status holders have access to more benefits.

VALID ORDER	An order which an IB will receive commission for. A valid order should last 180 seconds or more, have at least 30 points (3 pips) difference between open price and close price and should not be closed by means of Partial close or Multiple close by.
VIRTUAL PRIVATE SERVER (VPS)	A dedicated server that can be used to run Expert Advisors even if the trader exits the program. It also minimizes a chance of system downtime due to technology or/and connectivity failures.
VOLATILITY	The tendency of prices to fluctuate over time. The higher the volatility, the higher the risk involved.

WALLET	A central financial repository for CWG clients. You can deposit funds to it and parcel them between your trading accounts or Masters, or use it for accumulating profit from trading accounts and Copytrading, to withdraw it all together. Also, Masters get their commission payouts sent to their Wallets.
WEB TRADING	A trading platform that provides access to the forex trading via internet browser. It does not require installation and can be used on almost any PC with internet access.

ZIG ZAG INDICATOR	A trend indicator use to confirm the direction of price movement and eliminate accidental price fluctuations. It predicts trend changes and determine the areas of support and resistance.

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