At CompareForexBrokers, we are all forex traders ourselves, so we understand the importance of accurate information. This is why we offer a range of different calculator tools, each designed to give you a solid foundation of data and insight.
These include profit calculators, lot size calculators, and trading cost calculators, to help you make the right decisions when you trade. We’ve developed all of these tools to be intuitive and easy to use. This way, you can quickly integrate them into your CFD trading, spread betting, or forex trading approach.
Whenever you trade forex, you’re always looking to make a profit. Our profit calculation tools help you predict how much this may be, based on the factors that influence a live trade. These factors include the account type, currency pair, the opening and closing price, and the base currency. When you hit the ‘Calculate’ button, you will see a prediction of the potential profit. The word ‘prediction’ is important here, as this profit is not guaranteed.
The lot size calculator helps you keep your trades sustainable. Our tool recommends a position size in Standard, Mini, Micro or Nano lots. To do this, the calculator considers factors like account balance, risk ratio, and stop-loss level.
A pip is the smallest possible price movement on your trade. With this calculator, you’ll learn how much these pip movements are actually worth in your base currency.
This tool compares the different spreads and commission fees available in the market. You can differentiate between brokers, pairs, and account types, comparing and contrasting until you find the best forex broker for you.
The margin is the amount of your own money you’ll need to put up to open a trade. This tool calculates how much the margin will be, based on various factors. The base currency, your leverage ratio, the forex pair, and the position size, are the main variables here.
Additional Forex Trading Tools – Time Zone Converter
We provide other trading tools too. For example, the Forex Market Time Zone Converter, displays global trading volumes and major active trading sessions across New York, London, Sydney and Tokyo. In the future, we plan to develop this range further, with tools for share trading, indices trading, crypto trading, and other activities. Check back here for further calculator launches as we make them available.
Developing Our Comprehensive Range of Forex Trading Calculators and Tools
Our tools are all developed with the same aim in mind – to give you the data you need to carry out important trading actions. This includes calculating profit and loss, comparing broker fees, and keeping risk to a minimum.
However, we understand that people trade in different ways. This is why we make our tools compatible with several base currencies. Whether you’re working with the US Dollar, Australian Dollar, Euro, or UK pound, you can use our calculators.
You may also be trading in different markets. We offer tools suitable for CFD trading, spread betting, forex trading, and other types of market activity. All of these tools are built by our in-house team. We think this is an important factor for two reasons.
Firstly, all of our team are experienced traders, so you can trust their insight and understanding of the process.
Secondly, it means we stand by our tools. You can rely on these calculators, because we rely on them too.
Both User-Friendly and Accurate
All our tools are both accurate and easy to use. We believe that you can’t have one without the other. It doesn’t matter whether you’re highly experienced or if you’re completely new to trading, you’ll be able to navigate these calculators with ease. At the same time, we don’t compromise on accuracy. You can depend on these tools to provide data that is as up-to-date and accurate as possible.
However, we cannot offer any guarantees on the data the tools provide. Keep in mind that these tools are designed for informational purposes only. Any moves you make in the market are at your own risk. To discover more about how we gather data and develop tools, take a look at our methodology.
Tailored for Diverse Trading Strategies
There are lots of different ways to trade the markets. You might be a committed scalper or day trader, or you may prefer to take the longer view with a swing trading strategy. Our calculators help you, no matter which approach you take.
With these tools, you’ll be able to fine-tune your methods, manage risks, and target new opportunities. They may even help you expand into new strategies, as you become more confident working with different markets.
We Welcome Your Feedback
We are all traders ourselves, and this experience helps us to develop tools we would want to use. But at the same time, we can’t do this without you. You are the end user, and so it’s your experience that matters.
If you encounter a problem with the usability or accuracy of our tools, please reach out to our team. Also, please get in touch if you have any feedback on our existing tools, or any recommendations for tools you’d like to see in the future.
Risk Warning
Please note that any information you receive from our calculators, or from any of our other tools, is for advisory purposes only. The CompareForexBrokers team does not guarantee any of the information we offer, and any action you take is at your own risk.
Individual brokers can change their spreads and fees at any time. This means the information you gain from our tools won’t necessarily be reflected when you trade for real.
Forex trading, and other types of CFD and derivative trading, always carry significant risk. Even the most experienced traders can suffer losses. We recommend that you trade conservatively and use risk management tools and features at all times.