A market where traders can buy and sell large volumes of assets anytime and with low transaction costs.

An order to buy or sell the given amount of an asset at a specified price or at a better one. For example, if the current price of USD/JPY is 108.24/108.26 (Bid/Ask), the trader can set a buy limit order, for example, at 107.50, if the price falls and the Ask price reaches 107.50, the deal will be made and the corresponding Buy position will be opened.

LIBID stands for London Interbank Bid Rate. LIBOR stands for London Interbank Offered Rate.

A credit provided by the broker to his client for making large volume deals with a relatively small amount of capital.