How to Use
What is a Forex Profit Calculator?
A Forex Profit Calculator is an essential tool for traders to determine the financial outcome of a trade. By entering specific values, it calculates the profit or loss in both money and pips, based on the selected financial instrument, trade direction, and trade size.
How to Use the Forex Profit Calculator?
Instrument Selection: The calculator offers a wide range of financial instruments, including currency pairs, stock indices, commodities, and cryptocurrencies, such as EURUSD, XAUUSD, Oil, ADA, and BTC. For this example, let's choose the AUD/USD currency pair.
Deposit Currency: This field requires traders to choose the deposit currency, which will be used to convert the calculations. In this example, let's select AUD.
Buy or Sell: The calculator requires traders to input the trade direction, either long or short. For our example, we will choose to buy, which is the long trade direction.
Trade Size: Traders can input the trade size, either in lots or units. In forex, one standard lot is equivalent to 100,000 currency units. For this example, let's trade with 0.10 lots.
Open Price: The open price is the price at which the trade was opened. For this example, let's enter 0.75345 as the open price for the AUD/USD trade.
Close Price: The close price is the price at which the trade was closed. In this example, let's close the trade at 0.75855.
Calculating the Results: After entering the required information, simply hit the "Calculate" button. The calculator will then display the profit in money (converted to the deposit currency) and the profit in pips. For our example, a long AUD/USD trade of 0.10 lots, opened at 0.75345 and closed at 0.75855, will yield a profit of AUD 67.66, with a total of 51 pips gained.