Forex Calculator is a useful tool for newbies and pro traders. By using this instrument traders can plan their actions.
Why do you need it?
Every time when you open a trade, it’s always good to know exactly how much you spend and what the conditions of the trade are. Doing it roughly isn’t a problem when you’re an experienced trader. But if you’re a beginner or if you want to make sure you’ve done all your calculations well – the FBS Forex calculator will be a very handy tool for you.
How to use it?
Very easy: you set the conditions on the input of your trade, and it automatically calculates the output showing it on the same screen.
Here are the elements on the input that you need to set:
- Your account type
- Your trading instrument
- Your trade value in lots
- Your currency
- Your leverage
Once you fill in those five elements, you’ll immediately have the following resulting specifications of your trade:
- Contract size
- Point value
- Spread
- Swap (long)
- Swap (short)
- Margin
Most of the above data is available in MetaTrader’s contract specifications but it’s obviously easier to have it already in front of your eyes rather than specifically looking for it in the trading terminal.
All the trading instruments available in products of FBS are also available for calculation in the FBS Forex calculator.