Glossary: A

AT OR BETTER

An instruction given to a dealer to buy or sell at a specific price or better.

AIM (Alternative Investment Market)

A sub-market of the London Stock Exchange (LSE), allowing smaller companies to raise capital with a more flexible regulatory system than is required for the main market of the LSE. CFDs in AIM-listed shares are not available.

AFFILIATE

Website owners who promote trading in return for receiving a percentage of each sale that they make. The affiliates typically only refer customers to the site of the broker and then receive a commission if a sale occurs.

APPRECIATION

To rise in value or price.

ARBITRAGE

Arbitrage is the practice of taking advantage of a price difference between two or more markets. Or, it is a trade that profits by exploiting price differences of identical or similar financial instruments, on different markets or in different forms. Arbitrage is considered to be riskless.

ASIAN CENTRAL BANKS

Refers to the central banks or monetary authorities of Asian countries. These institutions have been increasingly active in major currencies as they manage growing pools of foreign currency reserves arising from trade surpluses. Their market interest can be substantial and influence currency direction in the short-term.

ASIAN SESSION

The Tokyo stock exchange is open from 9am to 3pm JST.

AT BEST

An instruction given to a dealer to buy or sell at the best rate that can be obtained at a specific time.

ASK (OFFER) PRICE

The price at which the market is prepared to sell a product. Prices are quoted two-way as Bid/Ask. The Ask price is also known as the Offer.

In FX trading, the Ask represents the price at which a trader can buy the base currency, shown to the left 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 also represents the price at which 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.

AUS 200

A term for the Australian Securities Exchange (ASX 200), which is an index of the top 200 companies (by market capitalization) listed on the Australian stock exchange.

AUSSIE

Refers to the AUD/USD (Australian Dollar/U.S. Dollar) pair. Also "Oz" or "Ozzie".

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