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Forex Dictionary

Term Equivalent terms Definition
Indicator pollution Term invented by us to describe how the addition of outside indicators and techniques to any one indicator can obscure and distort the true nature of that indicator.
Inflation The rate at which the general price level of consumer goods and services is rising, indicating erosion in the purchasing power of money. Inflation has historically occurred when a country prints too much of its currency in too short a period of time, and central banks attempt to control inflation by raising interest rates when necessary, which decreases the amount of money in circulation.
Initial Margin The initial deposit that determines a corresponding maximum trade size. In a 50:1 brokerage, the initial margin required to open a 10,000 unit is $200.
Interbank Market A non-physical, electronic communication network in which financial institutions can trade.
Interbank Rates The Foreign Exchange rates at which large international banks quote other large international banks.
Interest Rate The rate charged (for the borrowing of) or paid (for the lending of) money. An interest rate is expressed as an annual percentage of the principal, and it changes as a result of inflation and Central Bank policies.
Interest Rate Differential IRD The difference in the interest rates associated with two currencies.
Interest Rate Swap An exchange of interest for the mutual benefit of the exchangers, with one party y paying an agreed-upon fixed interest rate for the notional amount in exchange for the interest that same amount earns for the duration of the agreement.
International Monetary Fund IMF Established in 1944, this supranational organization seeks to stabilize foreign exchange rates, lower trade barriers, and lend foreign currency reserves to members with short-term balance of payment problems.
International Monetary Market IMM A division of the Merc established in 1972, it trades currencies, interest-rate options and interest rate futures, along with the eurodollar and LIBOR-based securities, and is the second largest futures exchange in the world and the largest in the United States.
International Organization for Standardization The organization responsible for developing the standardized forex trading codes used by traders, such as EUR for Euros or CAD for the Canadian Dollar.
Intra Day Position Positions that are opened and closed within the same trade day.
Introducing Broker A person or firm that introduces customers to a market maker often in return for commission or a portion of the spread.
ISO 4217 It is the international standard describing three-letter codes (also known as the currency code) to define the names of currencies established by the International Organization for Standardization (ISO). The first two letters of the code are the two letters of ISO 3166-1 alpha-2 country codes (which are also used as the basis for national top-level domains on the Internet) and the third is usually the initial of the currency itself. So Japan's currency code becomes JPY—JP for Japan and Y for yen.
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