Some useful definitions
You will find these jargon words and phrases littered about online application forms.
Administration Fee: The amount charged for running and looking after your account. Distinct from dealing charges. Admin fees are the hidden cost of share trading - so watch out for them before you sign up.
Best: The obligation to deal at the best price available at that time.
Business Day: Monday - Friday; 8.00am to 4.30am (excluding Bank Holidays).
FSA: The Financial Services Authority, or any superseding body.
FSMA: Financial Services & Markets Act (2000).
ISA: Individual Savings Account.
IRS: International Retail Service. Provides retail investors access to trading in international stocks. The service supports trading in major European and US blue chips, using sterling prices.
Limit Order: A buy or sell order to be executed at a price specified by the client.
LSE: London Stock Exchange.
PEP: Personal Equity Plan as shown on Your application form and defined by the Inland Revenue Rules and Regulations.
RSP: Retail Service Provider, or electronic market maker.
Settlement Date: The date on which you actually pay for your shares.