Formulas
Check the units, follow an example and try your own numbers where a calculator is available.
Trade volume
The real size of your position in units.
- Lots:
- Number of lots in the position.
- Contract size:
- Units per lot. Depends on the instrument.
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Pip value
Estimated value of one pip in the account currency for linear contracts.
- Lots:
- Number of lots in the position.
- Contract size:
- Units per lot. Depends on the instrument.
- Pip size:
- Price change defined as one pip; it can differ from the minimum tick.
- Account conversion:
- Account currency per unit of quote currency; 1 when they are the same.
First calculate the value in the quote currency, then convert it to the account currency. The value may change with the exchange rate.
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Spread
The difference between buy and sell, in pips. It's an implicit cost.
- Ask:
- Buy price.
- Bid:
- Sell price.
- Pip size:
- Price change defined as one pip; it can differ from the minimum tick.
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Spread cost
Monetary equivalent of the observed spread for this size; excludes other charges.
- Spread:
- The difference, in pips.
- Pip value:
- Value per pip in the account currency for this size and exchange rate.
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Swap
Estimated charge or credit for holding a position, when the rate is expressed in pips.
- Swap rate:
- Long or short rate, expressed in pips per equivalent daily charge.
- Equivalent periods:
- Equivalent charging periods: account for multiple charges and days with no charge.
- Pip value:
- Value per pip in the account currency for this size and exchange rate.
Assumes a constant rate in pips per equivalent charge. Confirm the unit, schedule and account conditions; a published rate without its unit is insufficient for this formula.
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Required margin
Estimate in the account currency: notional exposure divided by the applied leverage.
- Lots:
- Number of lots in the position.
- Contract size:
- Units per lot. Depends on the instrument.
- Price:
- Quote currency per unit of the asset; EUR/USD 1.10 means 1.10 USD per EUR.
- Account conversion:
- Account currency per unit of quote currency; 1 when they are the same.
- Leverage:
- Leverage applied to this calculation (200 represents 1:200).
Linear contract model: lots × units per lot × price gives exposure in the quote currency; convert it to the account currency. Here USD→USD conversion is 1. The broker may apply fixed or variable requirements by instrument and account; margin does not limit the loss.
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Free margin
Equity minus used margin. It can be negative and changes with open positions.
- Equity:
- Your capital including floating P&L.
- Margin:
- Used margin, in the same currency as equity.
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Margin level
Equity as a percentage of used margin; not a guarantee of safety.
- Equity:
- Your capital including floating P&L.
- Margin:
- Used margin, in the same currency as equity.
Only calculated when used margin is greater than zero. Margin call and stop out thresholds depend on the broker and account conditions; risk also exists above 100%.
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Profit / Loss
Estimated gross result from the price move, before commissions, swap and other adjustments.
- Change in pips:
- The move for or against you, in pips.
- Pip value:
- Value per pip in the account currency for this size and exchange rate.
Buy: (closing Bid − opening Ask) / pip size. Sell: (opening Bid − closing Ask) / pip size. When using these execution prices, the spread is already reflected; do not subtract it again. Use the currency conversion applicable to the calculation.
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Take Profit / Stop Loss
Planned price level at a distance from the opening price; it does not guarantee the execution price.
- Open price:
- The price you opened at.
- Change in price:
- Distance in pips multiplied by pip size.
Add for a buy TP or sell SL; subtract for a buy SL or sell TP. Execution can differ due to slippage, gaps and order conditions.
The calculator opens without registration so you can enter your own data.