Frequently Asked Questions
Forex calculators are vital trading tools.
They are used for you to understand what profits you can make out of buying or selling currencies in the foreign exchange market.
In order to get a proper figure of your money you have to put your starting balance, percentage and number of months into the formula for compounded interest. You can go to this website any time and see how much money you as a trader will get any month of the economic calendar.
Whatever base currency you trade, United States dollar or UK pound, our trading calculator will work out for you. Our service provides calculating in GBP/USD, EUR/USD and a lot of other currency options.
One pip is the smallest unit of measurement by which a currency quote can lose position. You can learn more information about how this property works while using our free forex calculator.
A broker should know what profit he can expect out of the deal so as not to lose money. The sum can be calculated by this formula: (Open Price - Close Price)*Volume of Trade*Contract size
It is critically to understand the potential profit or loss of a trade. Here our free forex calculator comes in handy. However, if you need to do your calculations in a more advanced manner, check our position size calculator.