Risk Warning: CFDs and spread bets are complex instruments and come with a high risk of losing money rapidly due to leverage.
Approximately 80% of retail client accounts lose money when trading in CFDs and spread bets.
You should consider whether you understand how CFDs and spread bets work and whether you can afford to take the high risk of losing your money.

Participating shares

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05/03/2026

Shares providing dividends plus a portion of additional company profits.

Market capitalisation

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05/03/2026

The total value of a company’s outstanding shares, calculated by multiplying share price by total shares.

Net asset value (NAV)

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05/03/2026

The per-share value of a fund’s holdings after subtracting liabilities from total assets.

Out of the money

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05/03/2026

An option with no intrinsic value (call: strike > price, put: strike < price).

Quantitative easing

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05/03/2026

A monetary policy where central banks buy assets to stimulate lending and economic growth.

Moving average

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05/03/2026

A technical indicator that smooths price data over time to reveal underlying trends.

Negative balance protection

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05/03/2026

A safeguard that prevents traders from losing more than their account balance, even during extreme volatility.

Overexposure

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05/03/2026

Allocating excessive capital to one position or market, increasing risk.

Quote currency

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05/03/2026

The second currency in a forex pair, showing how much is needed to buy one unit of the base currency.

Maintenance margin

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05/03/2026

The minimum capital required in a trading account to keep a leveraged position open.