European Brokerage · glossary
A bank’s promise to pay a multiple of one day’s index move, up or down, which resets each day. It can lose value fast and is made for short-term trading, not saving. If the issuing bank fails, the client may lose everything, and the compensation fund does not pay. Schedule 6, paragraph 3 · Chapter 1 · see Complex instrument, Target market
Explained in Chapter 1, What an Online Broker Does, and Why Its Client Agreement Matters, of European Brokerage.
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