Balance:  The value of your account not including unrealized gains or losses on open positions.

Equity:  This represents the current market value of your account.  Equity = Balance + (unrealized profit/loss on open positions).

Used Margin:  The amount that is needed in your account as margin for open positions.  Margin requirements on ICM MetaTrader are $250 per lot.   For example, if you have 3 lots of open positions, your Used Margin is 3 x $250 = $750.  Note that margin is not a "charge" and is not deducted from your account in any way. 

Free Margin:  The amount in your account available as margin for new positions.  Free Margin = Equity - Used Margin

Profit:  Total Net Profit/Loss on all your open positions. 

S / L or "Stop Loss":   An order to close out your position above the market for a short position, or below the market for a long position.  Designed to close the position in the event of an adverse price move.

T / P or "Take Profit":  Also referred to as a Limit Order.   An order to close out your position below the market for a short position, or above the market for a long position.  Designed to take advantage of a favorable price move by closing the position.

Expert Advisors:  Expert Advisors are automated trading programs that are integrated with ICM's MetaTrader software.