Expatriates Forums in Montenegro

Clean defaced and black money

baabirich — Thu Jul 23, 2009 1:54 pm

Author: baabirich

Posted: Thu Jul 23, 2009 1:54 pm

If you got defaced or black money and you honestly want to get it cleaned contact me

Richard
+447024075833

Casino and slot machines license for sale

Chlup — Tue Jun 09, 2009 6:02 pm

Author: Chlup

Posted: Tue Jun 09, 2009 6:02 pm

Casino and slot machine license for the republic of Montenegro for sale. Never registered. Total of 12 licenses have been issued. No more licenses to be issued. Price negotiable.

For more information plase contact Mr. Mica (pronounced Meecha) at rotariservice@seznam.cz

GSM: +420 725 867 510

TRADING ON LINE Coaching in Montenegro

Miky — Fri May 01, 2009 8:30 pm

Author: Miky

Posted: Fri May 01, 2009 8:30 pm

We have solid experience in ONE to ONE Trading On Line coaching and our coaching sessions are also on-line, via the internet.

We use a state-of-the-art remote-learning platform in which is possible to share audio, video, trading platform and desktop documents like trading charts.
In this way you can learn how to trade better and better from your home or office. Coaching plans can be completely personalized to reach concrete individual goals.
We are looking for private investors in Montenegro interested in improving their Trading On Line results, on a pay per sessions basis.
michele.castorina@t-online.hu

Do you need help managing your holiday home in Montenegro?

tangomontenegro — Thu Jan 08, 2009 9:50 pm

Author: tangomontenegro

Posted: Thu Jan 08, 2009 9:50 pm

We provide complete Property Management service for your Holiday Villa, House or Apartment. You can relay on us 24 hours a day, seven days a week and have the peace of mind, that your property is well looked after while you’re away.

www.key2montenegro.net

email: admin@key2montenegro.net

Montenegrin mobile: +382 69 978 292

UK tel: +44 20 3286 3428

plannig permission

tangomontenegro — Thu Jan 08, 2009 9:57 am

Author: tangomontenegro

Posted: Thu Jan 08, 2009 9:57 am

I've had a house in the area not covered by the detailed urbanistic plan (DUP) in the Tivat municipality.

It was originally built in the eighties and the second floor was added in the nineties. Both floors were registered in the municipality's kadastre (I was paying tax on it), but the house was (like almost all around it) marked as without a building permission.

I asked if I could obtain the building permission and build an extension, and the official answer was no, since they couldn't issue any building permissions before the DUP arrives. Unofficially was told I could built without a permission up to 250m2, which counts as a family home.

I built an (small) extension and sold the house in 2007 without any building permissions.

So in short, even though it is not legal, it is possible since it is not illegal either.

If you need any assistance with anything related to a property in Montenegro check our services www[.]key2montenegro[.]net

Please take out the square brackets before using the web address. Sorry but I can't post it properly before I've posted at least 10 messages on this forum

join our unique investment club

dutchjobs — Sun Nov 30, 2008 7:45 pm

Author: dutchjobs

Posted: Sun Nov 30, 2008 7:45 pm

Dear reader,

In these times of economic and financial crisis, there are alway great opportunities for making a very good return on investment capital.

We are looking for serious members to expand our investment community within Eastern Europe and the rest of the world.

Want to know more?

Just send us an email if you would like to have more information or give us a call if you wish to make an appointment.
0032 497 545587

Kind regards,
Bodhi
independent Bridge member

DOING BUSINESS IN MONTENEGRO / MONTENEGRO BUSINESS GUIDE

Montenegro Info — Thu May 10, 2007 8:30 am

Author: Montenegro Info

Posted: Thu May 10, 2007 8:30 am

DOING BUSINESS IN MONTENEGRO

STARTING A BUSINESS

STANDARDIZED COMPANY
Legal Form: Closely-held Limited Liability Company
Minimum Capital Requirement: EUR 1
City: Podgorica

Registration Requirements:

Procedure 1. Obtain application form and reserve the company name

Time to complete: 1 day

Cost to complete: EUR 10 to 20

Comment: The company name can be checked online at the Central Registry of Companies of Montenegro website: www.crps.cg.yu. The name reservation is valid for 120 days with no possibility for extension. The company name reservation can be transferred to a third party (upon notification of the Company Registry). The application form can be obtained at a bookstore or on the website of the Central Registry of Companies.

Procedure 2. Certify the company's founding agreements

Time to complete: 1 day

Cost to complete: EUR 30 to 100

Comment: The Republic of Montenegro still has no public notaries, but the profession is expected soon. The Law on Companies of the Republic of Montenegro authorises all lawyers to certify documents. In practice, however, only the Company Registry accepts such certified documents. All other institutions required documents to be certified by the court. The fees vary depending on the number of pages, documents, etc. There is no need to make an appointment - the certification is done on the spot at the lawyer's office.

Procedure 3. Register with the Company Registry

Time to complete: 2 days

Cost to complete: EUR 10 (registration fee) + EUR 10-15 (publication fee)

Comment: The only registry in the country is located in Podgorica, within the Commercial Court building. The registry is computerized. The legal time limit for registration is 4 days, but in practice, the registry completes the registration in 2 days.

The text for the advertisement is prepared by the Company Registry. The registry also estimates the publication fee (based on the length of the notice) and sends the advertisement to the Official Gazette. The time of publication is between 10 and 15 days; the registry sends all advertisements and they are published within the next Gazette publication. Nevertheless, this is not required in order to complete subsequent procedures so the client can continue to form the company regardless of when the publication takes place

Procedure 4. Make a company seal

Time to complete: 1 day

Cost to complete: EUR 30 to 40

Comment: The seal or stamp of the company is an important instrument in company representation actions to be undertaken. The company must order a seal or stamp immediately after company registration with the registry, since no subsequent procedure can be undertaken without the seal/stamp. The seal is completed on the same day it is ordered.

Procedure 5. Obtain statistical number of the company

Time to complete: 6 days

Cost to complete: EUR 5

Comment: After company registration, the company must apply for the Identification Number with the Directorate of Statistics.

Procedure 6. Open a bank account

Time to complete: 1 day

Cost to complete: no charge

Comment: The certificate of the opening of the bank account is required before registering for taxes. The bank account is opened as soon as the company is registered with the Company Registry and Directorate of Statistic

Procedure 7. Obtain municipal licence

Time to complete: 12 days

Cost to complete: EUR 50
Comment: Once registered, the company must file the verified copy of registration with the Central Registry; the copy of registration with the Bureau of Statistics; the copy of the bank account the incorporation documents, the certified lease agreement, a professional evaluation that the registered business activity can be conducted in that particular business premise, and the appropriate application form duly completed, signed and stamped, with the municipality where the company is seated and shall conduct business activities. The appointed commission will visit the business premises and issue the licence. The municipal licence is required for all companies, regardless of the field of their activity. In addition, some activity-specific licences may apply.

The cost depends on the area of the leased business premises, and is subject to the following schedule:
- Up to 50 m2 € 30
- From 50 m2 to 200 m2 € 50
- Above 200 m2 € 75

Procedure 8*. Receive municipal inspection

Time to complete: 7 days (included in previous procedure)

Cost to complete: no charge

Comment: It typically takes 1 week from the moment of the application, until the officials visit the premises.

Procedure 9*. Register with the Pension Fund

Time to complete: 2 days (simultaneous with procedure 6)

Cost to complete: no charge

Procedure 10*. Register with the Employment Bureau

Time to complete: 2 days (simultaneous with previous procedure)

Cost to complete: no charge

Procedure 11*. Register with Health Fund

Time to complete: 2 days (simultaneous with previous procedure)

Cost to complete: no charge

Procedure 12*. Register for income tax

Time to complete: 2-3 days (simultaneous with previous procedure)

Cost to complete: no charge

Comment: The following documents are required: an application form duly filled with the company's information and signed by the company representative, copies of the registration documents, copy of the certificate on the identification number of the company, certificate of the bank account opened, proof that the company filed for a business licence, identification cards or passports of the executive director.

If the application form is completed correctly, the tax number and VAT number certificate are issued within 2-3 days. The tax number always matches the company number. The tax number is issued after obtaining the municipal business licence. There is no tax inspection before issuing the number.

Procedure 13*. Register for VAT

Time to complete: 2-3 days (simultaneous with previous procedure)

Cost to complete: no charge

Comment: Once the company is registered for income tax, only an application form, duly completed, signed and stamped, is required.

Procedure 14. Register employees for Social Security

Time to complete: 2 days

Cost to complete: no charge

Comment: Employees are registered for the social security with the Pension Fund. It is necessary to enclose the following documents: the proof of registration with the Central Registry, the proof of registration with the Bureau of Statistics, the proof of registration with the Pension Fund and a fulfilled form provided by the Pension Fund

Procedure 15. Register company with Chamber of Commerce

Time to complete: 1 day

Cost to complete: no charge

Comment: Chamber of Commerce membership is obligatory and is done by submitting an application form.

Note: Procedures sometimes take place simultaneously. Instances of this are marked with an asterisk (*).

FORMS OF BUSINESS ORGANISATION

1. Limited liability company
2. Joint stock company

In addition to the limited liability company and joint stock company, general and limited partnerships may also be formed. The minimum required capital for founding a limited liability company is €500 and the maximum number of shareholders is 50. A joint stock company can be open (more than 100 shareholders) or closed (up to 100 shareholders). The minimum required founding capital is €25,000 for an open joint stock company and €10,000 for a closed joint stock company. Non-residents may operate through branches.

TAXATION

Corporate tax
Main rate: 9%

Resident companies are taxed on their worldwide income; non-resident companies are taxed on income sourced in Montenegro. A company that is registered in Montenegro, or that has its management and control there, is deemed to be resident for tax purposes. Dividends are subject to withholding tax, but are not included in taxable income. Capital gains realised from the disposal of shares, securities and real estate are taxed as income. Disposal of equipment does not give rise to capital gains/losses.

Individual tax
Progressive rates up to 23%

Resident individuals pay tax on their worldwide income; non-residents are taxed only on income sourced in Montenegro. Personal income tax is charged at progressive rates up to 23%.

Capital gains
Company gains taxed as income

Capital gains of companies are taxed as income. Gains of individuals are reduced by 50% and included in taxable income taxed at the normal progressive income tax rates.

Indirect tax
VAT standard rate: 17%

Value-added tax (VAT) applies to most transactions at a standard rate of 17%. Exports are zero-rated.

Tax administration and compliance
Tax year: Corporations and individuals: calendar year

Monthly advance tax payments are due, based on the results of the previous year. Tax returns must be filed within three months after the year-end. Employment income of individuals is taxed by withholding. Individual tax returns are due by April 30th. An assessment of final tax is raised on the basis of the information in the tax return.

Additional tax information

Withholding taxes: Dividends 15%, Interest 5%, Royalties 15%.

Tax treaties: Montenegro continues to honour double-taxation treaties signed by the former Yugoslavia. Certain treaties were renegotiated and some new treaties have been concluded.

Dividends: Income from dividends (whether from residents or non-residents) is not included in taxable income. Dividends received by individuals are subject to a 15% tax on income from capital. The tax is levied on the full amount of dividends.

Revenue protection: There are transfer-pricing and thin-capitalisation rules. Interest expense is adjusted based on a market level of interest. There are no anti-haven (CFC) rules.

Groups: Consolidation is possible for resident 75% groups.

Incentives: Newly established entities in underdeveloped regions; investment in fixed assets; employment of new workers.

Other taxes: Customs and excise duties, Inheritance and gift tax, Real estate tax, Tax on gambling and lottery winnings, Tax on transfer of immovable property.

Financial Advisors services, Offshore Fund - Know More

admin — Mon Feb 05, 2007 4:42 am

Author: admin

Posted: Mon Feb 05, 2007 4:42 am

Financial Advisors services, Offshore Fund - Know More

Dear members & guests

Due to the continuous marketing approach of our expatriate community by multiple financial planners services company, Allo' Expat has decided to provided you with some usefull imformation on the Expat Offshore Banking issue. Hope you'll invest wisely..... in the future

Financial Advisors - who are they?

Q1 - How do I get the best offshore financial advice?

The best offshore financial advice is probably given by Independent Financial Advisors. Independent financial advisors (or IFA's, as they are sometimes called) advise their clients on savings, investments and pensions. They may also provide Savings Plans for offshore investing to their clients.

When counselling a client, the best offshore financial advisors should complete the following steps:

* Step 1 - collect detailed information about a client's financial circumstances and requirements ? be they for retirement planning, retirement income, expat investment, or another purpose.

* Step 2 - check all the offshore tax havens for the best offshore plans.

* Step 3 - provide impartial advice as to which plan(s) best meet their client's needs (in the form of a written report).

* Step 4 - arrange for a client to buy the chosen offshore plan(s) on the best terms available.

You may want to complete your own research to ensure you know the right questions to ask your advisor.

When all these stages are completed, you can be confident you have received the best offshore financial advice.

Q2 - What is a Certified Financial Advisor?

Financial advisors may need a license to practice, issued by the Financial Services Regulator in their Country. Only these advisors may be called 'Certified Financial Advisors'.

It may be a condition that prospective certified financial advisors show their Regulator that they are:

* competent to advise

* impartial in their advice

* independent of Providers

* covered by professional indemnity insurance.

So it is important to check that your financial advisor is listed under:

* Certified Financial Advisors, licensed to advise in the Country where you live and

* Independent Financial Advisors - advising on a wide range of offshore plans from a full list of providers.

Now you should feel confident you are receiving the best offshore financial advice.

Q3 - How are offshore financial advisors paid?

Independent financial advisors (IFA's) earn their living from commissions they receive from plan providers. This is their income for the offshore financial advice they give.

The commission that advisors (IFAs) receive from offshore financial advice cases may range from hundreds to thousands of dollars.

Good offshore financial advisors should not be influenced by the amount of commission they receive.

Some clients prefer to pay fees to their financial advisors for advice to ensure impartiality. When this occurs offshore financial advisors refund commission received from a plan provider either in cash or as an increased allocation of contributions invested.

Q4 -How do I find a list of Independent Financial Advisors (IFAs)?

Search the web! Try searching using the search words independent financial advisors or certified financial advisors PLUS the name of the Country in which you live.

Personal recommendations are always helpful - ask your friends if they would recommend their offshore financial advisors. Always check that a recommended advisor is both certified and independent.

Offshore Investing - What do that mean

Q1 - What is Offshore Investing or Offshore Investment?

When we talk about Offshore investing plan opportunities it is like the savings plans available in many countries, except these plans:

* Are registered in tax havens and are regulated by their Financial Services Authorities.

* Can be used for investing by non-residents of the tax havens.

* Are sometimes more tax efficient than or have other advantages over domestic savings plans.

Q2 - Why would expatriates choose offshore investing?

Expatriate investment in the savings plans catalogued here and offering offshore investing opprotunities might be appropriate when:

* No local or Home Country tax free regular savings plans are available.

* No local or Home Country tax free lump sum investment plans are available.

* An expatriate is planning to retire to a third country.

If you fit any of these categories of expatriates you should investigate the offshore plans researched by Offshore Boffin and consult your Financial Advisor.

Q3 - Are there other people who might benefit from Offshore Invesment?

Yes. People who are not living abroad might find offshore investment attractive in the following circumstances:

* They have more cash available for savings than can be invested tax free in their resident countries' investment plans (perhaps because the amount they can invest each year is capped).

* They may live in countries which do not have domestic tax free savings plans.

* They live in countries which are not suitable long-term investment environments for political or economic reasons.

* They wish to limit the effects of inheritance tac on their estates.

Q4 - Is there safe offshore investing?

The answer is that All investors should remember that the value of ALL their investments can go down as well as up!

Safe offshore investing is more likely by choosing plans:

* From politically stable tax havens - the quality of tax havens varies.

* From well-regulated tax havens - the tax havens whose savings plans are catalogued here all regulate their financial services companies to avoid 'fly-by-night' companies.

* From reputable investment management and life assurance companies - whilst past performance is not always a guide to the future, the companies whose savings plans are listed here are all well-known names.

* Investing in 'mutual' or 'collective' funds. these funds are based on a simple idea. If a large number of investors pool their savings in - for example - an equity fund, the larger fund can be invested in shares in many companies, spreading each individual's risk.

For expat investment - and others - to be successful the best offshore investment opportunities must be found. For that you'll need a good Financial Advisors.

FX Currency Trading / FX Forex Trading Online - Know More

admin — Mon Feb 05, 2007 4:40 am

Author: admin

Posted: Mon Feb 05, 2007 4:40 am

Forex Trading / FX Trading

Foreign Exchange
This short introduction explains the basics of trading Forex online, a brief explanation of the markets and the major benefits of trading Forex online. There are also two scenarios describing the implications of trading in a bear as well as bull market to better acquaint you with some of the risks and opportunities in the largest and most liquid market in the world.

As an additional aid for those who are new to Forex, there is also a glossary at the bottom of this text which explains some of the terms used in connection with currency trading.

Overview
Foreign exchange , forex or just Forex are all terms used to describe the trading of the world's many currencies. The forex market is the largest market in the world, with trades amounting to more than $1.5 trillion every day. This is more than one hundred times the daily trading on the NYSE (New York Stock Exchange) . Most forex trading is speculative , with only a few percent of market activity representing governments' and companies' fundamental currency conversion needs.

Unlike trading on the stock market, the forex market is not carried out by a central exchange, but on the "interbank" market , which is thought of as an OTC (over the counter ) market. Trading takes place directly between the two counterparts necessary to make a trade, whether over the telephone or on electronic networks all over the world. The main centres for trading are Sydney, Tokyo, London, Frankfurt and New York. This worldwide distribution of trading centres means that the forex market is a 24-hour market.

Trading Forex
A currency trade is the simultaneous buying of one currency and selling of another one. The currency combination used in the trade is called a cross (for example, the Euro/US Dollar, or the GB Pound/Japanese Yen.). The most commonly traded currencies are the so-called "majors" - EURUSD, USDJPY, USDCHF and GBPUSD.

The most important forex market is the spot market as it has the largest volume. The market is called the spot market because trades are settled "immediately" or on the spot. In practice this means within two banking days.

Trading on Margin
Trading on margin means that you can buy and sell assets that represent more value than the capital in your account. Forex trading is usually done with relatively little margin since currency exchange rate fluctuations tend to be less than one or two percent on any given day. To take an example, a margin of 2.0% means you can trade up to $500,000 even though you only have $10,000 in your account. In terms of leverage this corresponds to 50:1, because 50 times $10,000 is $500,000, or put another way, $10,000 is 2.0% of $500.000. Using this much leverage gives you the possibility to make profits very quickly, but there is also a greater risk of incurring large losses and even being completely wiped out. Therefore, it is inadvisable to maximise your leveraging as the risks can be very high. For more information on the trading conditions at Saxo Bank, go to the Account Summary on your Client Station and open the section entitled "Trading Conditions" found in the top right-hand corner of the Account Summary.

Why trade Forex?

24 hour trading
One of the major advantages of trading forex is the opportunity to trade 24 hours a day from Sunday evening (20:00 GMT) to Friday evening (22:00 GMT). This gives you a unique opportunity to react instantly to breaking news that is affecting the markets.
Superior liquidity
The forex market is so liquid that there are always buyers and sellers to trade with. The liquidity of this market, especially that of the major currencies, helps ensure price stability and low spreads . The liquidity comes mainly from large and smaller banks that provide liquidity to investors, companies, institutions and other currency market players.
No commissions
The fact that forex is often traded without commissions makes it very attractive as an investment opportunity for investors who want to deal on a frequent basis. Trading the "majors" is also cheaper than trading other crosss because of the high level of liquidity. For more information on the trading conditions at Saxo Bank, go to the Account Summary on your Client Station and open the section entitled "Trading Conditions" found in the top right-hand corner of the Account Summary.
50:1 Leverage
With a minimum account of USD 10,000, for example, you can trade up to USD 500,000. The USD 10,000 is posted on margin as a guarantee for the future performance of your position.
Profit potential in falling markets
Since the market is constantly moving, there are always trading opportunities, whether a currency is strengthening or weakening in relation to another currency. When you trade currencies, they literally work against each other. If the EURUSD declines, for example, it is because the U.S. dollar gets stronger against the Euro and vice versa. So, if you think the EURUSD will decline (that is, that the Euro will weaken versus the dollar), you would sell EUR now and then later you buy Euro back at a lower price and take your profits. The opposite trading scenario would occur if the EURUSD appreciates .

Important Forex Trading Terms

Spread
The spread is the difference between the price that you can sell currency at ( Bid ) and the price you can buy currency at ( Ask ). The spread on majors is usually 5 pips under normal market conditions. For more information on the trading conditions at Saxo Bank, go to the Account Summary on your Client Station and open the section entitled "Trading Conditions" found in the top right-hand corner of the Account Summary.
Pips
A pip is the smallest unit by which a cross price quote changes. When trading forex you will often hear that there is a 5-pip spread when you trade the majors. This spread is revealed when you compare the bid and the ask price, for example EURUSD is quoted at a bid price of 0.9875 and an ask price of 0.9880. The difference is USD 0.0005, which is equal to 5 "pips". On a contract or position, the value of a pip can easily be calculated. You know that the EURUSD is quoted with four decimals, so all you have to do is the cancel-out the four zeros on the amount you trade and you will have one pip. Thus, on a EURUSD 100,000 contract, one pip is USD 10. On a USDJPY 100,000 contract, one pip is equal to 1000 yen, because USDJPY is quoted with only two decimals.

Trading Scenario - Trading Rising Prices
If you believe that the Euro will strengthen against the dollar you'll want to buy Euro now and sell it back later at a higher price.

You buy Euro	We quote EURUSD at Bid 0.9875 and Ask 0.9880, which means that you can sell 1 Euro for 0.9875 USD or buy 1 Euro for 0.9880 USD. In this example you buy Euro 100,000, at the quote price of 0.9880 (ask price) per Euro.
The market turns	Later the market turns in favour of the Euro and the EURUSD is now quoted at Bid 0.9894 and Ask 0.9899.
Now you want to sell your Euro and get the profit	You sell Euro at a Bid price of 0.9894.
The profit is calculated as follows:	Sell price-buy price x size of trade (0.9894 minus 0.9880) multiplied by 100.000 = $140 Profit (Note that the profit or loss is always expressed in the secondary currency )

Trading Scenario - Trading Falling Prices
If, on the other hand, you believe that the Euro will weaken against the dollar, you'll want to sell EURUSD.

You sell Euro	We quote EURUSD at a Bid price of 0.9875 and Ask price of 0.9880 and you decide to sellEuro 100,000 at a Bid price of 0.9875.
The market moves in your favour	The Euro weakens against the dollar and the EURUSD is now quoted at bid 0.9744 and ask 0.9749.
Now you buy back your Euro	You buy EUR at an ask price of 0.9749.
Your Profit/loss is then	Sell price-buy price x size of trade (0.9875 minus 0.9749) multiplied by 100.000 = $ 1260 Profit

Remember that trading EUR 100,000 as we have done in our examples, does not mean that you have to put up Euro 100,000 yourself. It means that you have to deposit 2.0% of Euro 100,000, which is Euro 2,000 on margin as a guarantee for the future performance of your position.

Further Reading
To see how you can trade the forex market and benefit from our toolbox of information and live quotes, please proceed to our Forex Quick Start found under the Trading menu on the toolbar, under Forex.

Glossary

Appreciation	Anincrease in the value of a currency.
Ask	Theprice at which you can buy. Traders also speak of an ask price,the price requested. This usually indicates the lowest price aseller will accept.
Basecurrency	Thecurrency that the investor buys or sells (i.e. EUR in EURUSD).
Bear	Someonewho believes prices are heading down. A bear market is one inwhich there is a sustained fall in prices and which does not looklike it will recover quickly.
Bid	Theprice at which you can sell. Traders also speak of a bid price,the price offered. This usually indicates the top price apurchaser will pay.
Bid/Ask	TheBid rate is the rate at which you sell. The Ask (or offer) rate isthe rate at which you can buy.
Bull	Someonewho is optimistic about the market. A bull market is characterisedby enthusiastic and sustained buying.
cross	Whentrading currencies, the investor buys one currency againstanother. These two currencies form the cross: for example, EURUSD.
Crossrate	Anexchange rate that is calculated from two other exchange rates.
Depreciation/decline	Afall in the value of a currency.
Exchangerate	Whatone currency is worth in terms of another, for example the $Amight be worth 58 US cents or 70 yen. Currencies traded freely onforeign-exchange markets have a spot rate (applying to tradessettled 'spot', ie, two working days hence) and a forward rate.Countries can determine their exchange rates in a variety of ways:a floating exchange rate system where the currency finds its ownlevel in the market; a crawling or flexible peg system which is acombination of an officially fixed rate and frequent smalladjustments which in theory work against a build-up of speculationabout a revaluation or devaluation; a fixed exchange-rate systemwhere the value of the currency is set by the government and/orthe central bank.
EURUSD	Meansthat you trade EUR against dollars. If you buy Euro you pay indollars and if you sell Euro you receive dollars.
FX,Forex, Foreign Exchange	Allnames for the transaction of one currency for another, e.g. youbuy �100.00 with $150.25 or sell $150.25 for �100.00.
Interbank	Short-term(often overnight) borrowing and lending between banks, as distinctfrom banks' business with their corporate clients or otherfinancial institutions.
Interestrate differential	Theyield spread between two otherwise comparable debt instrumentsdenominated in different currencies.
Leverage(gearing)	Inthis case leverage means that the investor only funds part of theamount traded.
Long	Tobuy.
Longposition	Aposition that increases its value if market prices increase.
Liquid(-ity)	Thecapacity to be converted easily and with minimum loss into cash.Ultra-short-dated treasury notes are an example of a liquidinvestment. A liquid market is one in which there is enoughactivity to satisfy both buyers and sellers.
Margin	Theinitial amount or deposit required when entering into a position.Margin is a guarantee for future performance.
NYSE	Acomputerised system providing brokers with the prices of sharesand securities traded on the New York stock exchange and over thecounter. The quotes are published in real-time.
Openposition	Aposition in a currency that has not yet been offset. For example,if you have bought 100,000 USDJPY, you have an open position inUSDJPY until you offset it by selling 100,000 USDJPY.
"Overthe counter"	Whentrading takes place directly between two parties, rather than onan exchange.
Pips	Apip is the smallest unit by which a cross price quote changes. Soif EURUSD bid is now quoted at 0.9767 and it moves up 2 pips, itwill now be quoted at 0.9769.
Position	Money-market,futures, foreign-exchange and sharemarket traders talk of 'takinga position' which simply means buying or selling one currencycross. 'Position' can also refer to a trader'scash/securities/currencies balance, whether he or she is short ofcash, has money to lend, is overbought or oversold in a currency,etc.
Risk	Tryingto control outcomes to a known or predictable range of gains orlosses. Risk management involves a set of steps which begin with asound understanding of one's business and the exposures or risksthat have to be covered to protect the value of that business.Then an assessment should be made of the types of variables thatcan affect the business and how best to protect against unwelcomeoutcomes. Consideration must also be given to the preferred riskprofile - whether one is risk- averse or fairly aggressive inapproach. This also involves deciding which instruments to use tomanage risk, and whether a natural hedge exists that can be used.Once undertaken, a risk-management strategy should be continuallyassessed for effectiveness and cost.
Secondarycurrency (variable currency or counter currency)	Thecurrency that the investor trades the base currency against (i.e.USD in EURUSD).
Shortposition	Aposition that benefits from a decline in market prices.
Short	Tosell.
Speculative	Buyingand selling in the hope of making a profit, rather than doing sofor some fundamental business-related need.
Spot	ASpot rate is the current market price of an asset.
Spotmarket	Thepart of the market calling for spot settlement of transactions.The precise meaning of 'spot' will depend on local custom for acommodity, security or currency. In the UK, US and Australianforeign-exchange markets, 'spot' means delivery two working dayshence.
Spread	Thedifference between the bid and the ask rate.

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