Forex Calculator: The 9 Best Forex Calculators & Tools

When planning your trade, it is important to understand the potential profit or loss of a trade. Our Forex profit loss calculator can be used as a take profit or stop loss calculator whether you’re actually using sl/tp values or closing the trade manually. If you wish https://g-markets.net/ to calculate your profit with a more advanced calculator to include the exact risk you wish to use, head over to our position size calculator. We have placed this calculator at the very top of our list as we think it’s the most useful forex calculator there can be.

Through this, we can check how much a person will lose or earn. Once his Take-Profit and Stop-Loss points have got attained. To compute this predicted profit or gain through this best forex calculator calculator. You will need a currency pair, lot size, account types, profit, and stop-loss value. If you aim to put your currencies on a longstanding or short-range trade.

What’s a Forex trading calculator and why do you need it?

Furthermore, since units are typically quite small, a larger number of decimals are needed to capture variations in exchange rates to a greater degree of accuracy. Use the forex compound calculator to calculate the profits you might earn on your foreign exchange currency trading. A trader can use it to access a rate for the swapped currencies. It measures the rate after removing any type of open position.

As well as defining your risk as a percentage of your balance, you also have the option to enter exactly how many units of your account balance you would like to risk on the trade. The calculator will then give this figure as a percentage of your balance. Most trading happens in the UK and US market, so 8am GMT to 5pm EST, is when the market is most liquid and the difference between the bid and ask rates is minimal. We have over 31 years of historical data for over 38,000 forex pairs and rates from over 200 currencies, commodities, and precious metals. One of the most important tools in a trader’s bag is risk management. Proper position sizing is key to managing risk and to avoid blowing out your account on a single trade.

All-in-One Calculator

Our position sizing calculator will suggest position sizes based on the information you provide. Below you will find several forex calculators to help you make trading decisions during your forex trading. Values are calculated in real-time with current market prices to provide you with an accurate result. It is a forex calculator that is helpful to you in managing risks very fast.

• The tool will then produce a projection of the instrument’s price, based on standard Fibonacci levels.
• You either mark a loss or gain in your account at that point.
• For example, if you experience 5 losses in a row after risking 1%, you will still have over 95% of your account capital remaining.
• It will also print out how much capital is at risk, so you can confirm that it has calculated the position size correctly.

Simply put, if you are long (a buyer) and the exchange rate rises, you have a gain. Likewise, if you are short (a seller) and the rate rises, you have a loss. Conversely, if you are short and the rate drops, you have a gain.

All-in-one Calculators

This kind of calculator is for analyzing the size of lots and units appropriate for trade. A lot is defined as account exchange units or base exchange that you want to buy or sell. Calculate your exact profit or loss before entering a position and plan your trading plan accordingly. Using the forex profit calculator you can adjust your trade size or take profit and stop loss levels to increase or decrease potential gain or loss to match your trading plan. If the lot size tool is the most valuable calculator, then we think this tool is the one most likely to capture people’s interest or imagination.

You can send a variety of international currencies to multiple countries reliably, quickly, and safely, and at a rate cheaper than most banks. If you already have an XM account, please state your account ID so that our support team can provide you with the best service possible. Our margin calculator helps you calculate the margin needed to open and hold positions. With our all-in-one calculator you can calculate the required margin, pip value and swaps. Check the currencies and amount are correct, get the expected delivery date, and send your money transfer.

Profit and Loss Calculator

It is also popularly known as ‘take profit calculator’. Stopping Loss and Taking Profit are the most fundamental attributes to verify the forex trade. Alter the value of pip into the selected currency as per the chosen rate.

One Standard Lot is 100,000 units of the base currency. Most brokers also allow trading with fractional lot sizes, down to 0.01, sometimes even less. Fractional lot sizes are categorized as mini lots (0.10), micro lots (0.01) and nano lots (0.001). Please refer to the image above to compare the lots and correspondent currency units.

Currency Converter

For forex pairs, the calculator considers 1 lot as 100,000 units, so you will have to take that into account when entering the size of a trade if you have a mini or micro account. OANDA’s Currency Converter allows you to check the latest foreign exchange average bid/ask rates and convert all major world currencies. OANDA Rates™ are foreign exchange rates compiled from leading market data contributors. Our online calculators allow clients to make accurate assessments at the right time to make the most out of their trades. Calculate the foreign exchange rates of major FX currency pairs. To use the position size calculator, enter the currency pair you are trading, your account size, and the percentage of your account you wish to risk.

This comes under the technical analysis and used by many traders. This helps to identify points around which the market can shift. This shift is all about confrontation levels and possible support areas. Traders can use them to calculate pivot points for multiple tools. The Forex Trading calculators are a tool for updating traders about likely parameters.