International Bank Account Number (IBAN) 

An IBAN number contains information detailing the country, bank and branch of the beneficiary, as well as the account number itself.

It is used to facilitate automatic processing of cross-border payments.

An IBAN can be obtained from the beneficiary's bank. An IBAN is mandatory within the EU.

If done border

An If Done order actually consists of two orders: a primary order that will be executed as soon as market conditions allow it, and a secondary order that will be activated only if the first order is executed.

In-the-Money (ITM)

A call Option is in-the-money when the price of the underlying stock is greater than the call's strike price. Conversely, a put Option is in-the-money when the price of the underlying stock is lower than the put's strike price. At expiration, Options that are .01 ITM are automatically exercised.


A numerical measure of the way the price of a representative group of Stocks has changed over time. Every major exchange has one or more indices. For example, the NASDAQ exchange has the NASDAQ 100 Index (a composite of the100 largest non-financial companies listed on NASDAQ). Some indices are created and managed by private corporations, such as the Dow Jones Industrial Average and S&P 500. You can trade CFDs based on many of the world's stock market indices.


A tradable symbol with a monetary value. This can be a Forex cross (currency pair), or a stock ticker (for CFDs and Stocks), etc.

Instrument currency

The currency the instrument is traded in


Short-term (often overnight) borrowing and lending between banks, as distinct from a banks' business with their corporate clients or other financial institutions.


Interest is a charge applied to borrowed money, and is generally expressed as a percentage per year.

When buying CFDs, you are in principle borrowing money for a trade, so you are charged a standard interest rate based on the current LIBOR (London Interbank Offer Rate) plus a small percentage.

When you sell a CFD, on the other hand, you receive interest for the amount the CFD represents. This percentage is the LIBID rate minus a small percentage.

Interest rate differential

The yield spread between two otherwise comparable debt instruments denominated in different currencies.

Intrinsic value

The amount by which an Option is in the money. In the case of a call Option, the intrinsic value is the current price for the underlying asset, less the strike price. For a put Option, the intrinsic value is the strike price less the price for the underlying asset. If the difference between the prices is not positive in either case, then the intrinsic value is zero.