Our comprehensive glossary explains many of the terms commonly used in the international markets.

Account overview

An overview of your Webtrader account(s), including base currency, value, cash available, unrealized margin, profit/loss, funds available for margin trading and margin utilization.

Account statement

An overview of the current balance and of changes in the balance of each account you hold in overview of the current balance and of changes in the balance of each Webtrader account.

Account summary

The status and trading activity of a specific account in Webtrader. If you maintain multiple accounts, the Account Summary shows information about individual accounts, as well as an aggregate of all the accounts.

Account value

The current value of the Webtrader account, combining Cash balance, Unrealised value of positions and Transactions not booked.

Accounting period

The period for which the affairs of a company are being accounted for. The matching principle ensures that the incomes for the accounting period are offset against the expenses for the same period to arrive at the profit. The balance sheet shows the asset and liability position at the end of the accounting period. Companies are required to have an annual accounting period.

Accounting policy

For public companies, the accounting policies are set out in the first note to the accounts. They usually concern the method used to value stock and depreciate assets, the principles used in consolidating accounts, the method by which leases are charged, provisions made for deferred taxation, exchange rates used to value foreign currencies, what constitutes turnover and other items specific to the company.

Accounts payable

These are amounts reflected in the balance sheet as owing to the company's creditors in the balance sheet. These appear under current liabilities. These amounts owed to the company the short term, usually as a result of purchases on credit.

Accounts receivable

Money owed by customers (individuals or corporations) to another entity in exchange for goods or services that have been delivered or used, but not yet paid for. Receivables usually come in the form of operating lines of credit and are usually due within a relatively short time period, ranging from a few days to a year.


When the volumes traded in a share start to pick up while the share price moves sideways or upwards, this is known as an accumulation phase. It indicates that the share is becoming stronger - after a period of accumulation, the supply of shares will be exceeded by the demand and this may lead to a sharp upwards move in the share price.

Activity log

A list of all your Webtrader activities. The log includes details of trades, orders, requested prices, system messages and, for demo or simulation accounts, account resets.

American style options

Options that can be exercised at any time or before the expiration date.


The study and analysis of historic price data to anticipate future movements in the price of an instrument.


A person with expertise in evaluating financial instruments; he or she performs investment research and makes recommendations to institutional and retail investors to buy, sell, or hold. Most analysts specialize in a single industry or business sector.


The highest point; the pointed end, tip, of a triangle.


An increase in the value of an instrument.

Ascending Trend Channel

The area between the two parallel upsloping trendlines comprising of the basic up trendline sloping across the reaction lows of an advance and the parallel upsloping trendline sloping across the peaks of the reaction highs of an advance

Ascending triangle

A sideways price pattern between two converging trendlines in which the lower line is rising while the upper line is flat. This is generally a bullish pattern.

Ask price

The price at which you can buy the specific instrument. This is also called the Offer price. For Forex trading, it is the price at which you can buy the trade/base currency (quoted first) by selling the price currency of the pair. For example, if you buy EURUSD 100 000, you are buying 100 000 Euros against US dollar.


In Options trading, a common term for the underlying asset. This is the financial instrument upon which Options, a derivative product, are based. For example, the underlying asset for IBM stock Options is the IBM stock itself.

At the Money (ATM)

A condition in which the strike price of an Option is equal to (or nearly equal to) the market price of the underlying security.

At the Money (ATM) forward strike

The ATM forward strike price of an Option is the strike price of the corresponding forward outright price at a specific forward date, as calculated via interest rate differentials.


The maximum amount of the instrument that can be automatically traded before manual confirmation from a dealer ('Live price') is required. In periods of volatile market conditions, automatic trade execution may be disabled.

Available for margin trading

The funds available in your Webtrader account for margin trading, derived from subtracting 'Used for margin requirements' from 'Account value.'