The 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 prices to the trading platform. ECN broker provides access to the network and serves as an intermediary between traders and the real market. Read more about ECN trading in this article.

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.

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.

A government-issued statistic that indicates current economic growth and stability. Common indicators include employment rates, Gross Domestic Product (GDP), inflation, retail sales, etc.

Electronic Data Interchange.

Electronic Fund Transfer.

A form of technical analysis that is based on spotting financial market cycles and forecasting trends. It also considers market prices, investor psychology, and Fibonacci Retracements.

The amount of funds on a trading account that includes balance and floating profit/loss. When there are no open positions on the account, equity equals balance. If a deposit bonus is applied, its amount also becomes a part of account equity until the volume requirements for withdrawal are met.

The Ethereum Classic platform hosts decentralised applications on the Ethereum blockchain but with more security. Its digital currency uses the abbreviation ETC.

The official currency of the eurozone, the second largest reserve currency, and the second most traded currency after the U.S. dollar. Also, euro.

An institution created under the Treaty of the European Union. The ECB is the central bank for the euro, which administers the eurozone's monetary policy.

Is 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).

Index representing 50 largest and most liquid stocks from 12 Eurozone countries. Get EUSTX50 live charts and quotes.

A physical location where the trading activity occurs. The biggest ones are the New York Stock Exchange (NYSE), the National Association of Securities Dealers Automated Quotations (NASDAQ), the Shanghai Stock Exchange (SSE), and the European New Exchange Technology (EURONEXT).

The value of one country's currency against another country's currency. It can be floating or fixed. Floating exchange rate means that the currency is floated freely in the market, and price fluctuations happen in connection with supply and demand for the money. Conversely, fixed exchange rate (or pegged exchange rate) occurs when a government or a central bank has control over currency operations and ties (or pegs) the national currency to some specific currency or gold.

The way a broker fills a client's order. The order is deemed executed as soon as it is accepted by the broker and filled. A brokerage can apply market execution or instant execution. With instant execution, the broker undertakes to fill the order at a price requested by the client and, if the bid price is unavailable, will return the request with a requote. Brokers operating under market execution offset all clients' orders with the liquidity providers to be executed at their end. Orders are always executed at the best available price in the market.

A thinly traded currency. It usually lacks market depth, is illiquid, and has low trading volumes. Spreads for exotic currencies are typically high to compensate for the volatility risks.

Is 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.

A technical analysis tool that reacts faster to price changes than Simple Moving Average. As EMA is exponentially weighted, recent data weighs more than older data, thus creating a curve that reacts to recent price fluctuations. Also known as Exponentially Weighted Moving Average (EWMA) and, if reacting faster to price changes, Double Exponential Moving Average (DEMA).