Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd. You should consider whether you understand how CFDs or our other products work and whether you can afford to take the high risk of losing your money.

The industry’s
most important terms explained.

Discover a wealth of financial terms and definitions that every trader should know.

Forex Glossary

I

ISM Non-Manufacturing

An index that survey service sector firms for their outlook, representing the other 80% of the U.S. economy not covered by ISM MANUFACTURING REPORT. Values over 50 generally indicate an expansion, while values below 50 indicate contraction.

ISM Manufacturing Index

An index that assesses the state of US manufacturing sector by surveying executives on expectations for future production, new orders, inventories, employment and deliveries. Values over 50 generally indicate an expansion, while values below 50 indicate contraction.

Introducing Broker

A person or corporate entity which introduces accounts to Tickmill for a fee.

Intervention

Action by a central bank to effect the value of its currency by entering the market. Concerted intervention refers to action by a number of central banks to control exchange rates.

Interbank Rates

The Foreign Exchange rates at which large international banks quote other large international banks.

Initial Margin

The initial deposit of collateral required to enter into a position as a guarantee on future performance.

Inflation

An economic condition whereby prices for consumer goods rise, eroding purchasing power.

Industrial Production

Measures the total value of output produced by manufacturers, mines and utilities. This data tends to react quickly to the expansions and contractions of the business cycle and can act as a leading indicator of employment and personal income.