Find the potential profit and loss of your forex trade quickly and easily, with our calculator.
With this calculator, you’ll quickly determine how much profit and loss you can expect from your forex trade. This is an important consideration as you plan your strategy, and will inform your risk management measures and decision-making.
Your Profit
Profit in pips:
Profit in Pips Calculation
= ( Close Price - Open Price ) / 0.0001 x Trade size
= ( - ) / 0.0001 x
Profit in Pips Calculation
= ( Open Price - Close Price ) / 0.0001 x Trade size in lot
= ( - ) / 0.0001 x
Profit/Loss Calculation:
Profit/Loss in Calculation
= Profit in Pips x Pip value
=
How to Use the Forex Profit and Loss Calculator
The tool is designed to be simple and straightforward, so essentially anyone can use it. But to help you get the best out of it, we’ve provided this step-by-step guide.
1. Choose your Currency Pair
To get started, select your currency pair from the list. You can set the calculator to AUD/USD, EUR/GBP, EUR/USD, or GBP/USD. These pairs are specifically chosen because they are among the most commonly traded pairs in the market.
2. Pick the Lot Size
The lot size dictates the size of your position. Generally, this will be a standard lot, which is 100,000 units of a particular currency. However, some brokers offer smaller lot sizes, such as mini, micro, and nano lots. Mini lots are 10,000 units, and micro lots are 1,000. Nano lots are the smallest, at just 100 units. Smaller lot sizes mean smaller potential profits and losses.
3. Define the Opening and Closing Prices
Select an opening price for your trade, and then choose a closing price. The difference between the opening and closing prices is a key factor in determining profit and loss.
4. Calculate Your Profit
Once all fields are filled in, hit the ‘Calculate’ button. This gives you an estimate of what the profit or loss would be, based on the parameters you entered.
Keep in mind that there are no guarantees when using this tool. It is just designed to give you useful information as you assess the possible outcomes of your trade. It will help you make the right strategic decision, but solid risk management is still vital.
What Does the Calculator Tell You?
When you use the calculator, you will receive the following insights into your potential trade.
Profit or Loss in Pips
A pip is the smallest possible price movement of the forex pair. While your trade is open, the price will move either up or down by a certain number of pips. The tool tells you how many pips of movement to expect, based on the information you have added.
Profit or Loss in Deposit Currency
The pip movement is just a representation of your profit and loss. You then need to translate this into your deposit currency, which will be USD, EUR, GBP or AUD. The tool will tell you how much actual monetary profit and loss to expect.
Bear in mind this is not guaranteed. The tool is for informational purposes only, and acts upon the information you enter.
Other Forex Calculators and Trading Tools
We provide plenty of different calculators and tools, so you can build the ideal toolkit to support your strategy. These include:
lot calculator
lot calculator
Determines position size in various lot units to manage risk.
pip calculator
pip calculator
Calculates the value of a pip in the deposit currency for risk management.
fee comparison
fee comparison
Compares spreads and commission fees across major forex pairs and brokers.
margin calculator
margin calculator
Calculates required margin using leverage, trade size, and forex pair.
time zone converter
time zone converter
Shows trading sessions and volumes in major global markets.
Disclaimer
Please note: We cannot guarantee the accuracy of any of the tools or calculators we offer. They are designed for informational purposes only. Any action you take in the market is carried out at your own risk.
FAQs
How can I calculate my profit in forex?
To calculate your profit in forex, you can use a simple formula. Subtract the trade’s opening price from its closing price. This gives you the price differential in pips. Multiply this by the value of a single pip, to arrive at your profit calculation.
Closing price – Opening price = Price differential (in pips)
Price differential * Value of a single pip = Profit or loss
Use our forex profit calculator to get an accurate estimate, and remember that there may be other factors and costs involved, too.
How do you calculate P&L in forex?
Profit and loss, or P&L, in forex are calculated in the same way. First, you look at the opening and closing prices. If you’ve opened a long position, you are hoping that the exit price is higher than the entry price. On a short position, you’re hoping for the opposite.
You will then subtract the opening price of the trade from the closing price. This will give you the value differential in pips. Multiply this by the value of a single pip to give you the overall value of your profit or loss. Our calculator tool makes this process easy and accurate.
How much is 1 pip in dollars?
In a pair with the United States Dollar as the quote currency, a pip will be worth US$10 for a standard lot. On a mini lot, it will be $1, $0.10 on a micro lot, and $0.01 on a nano lot. The number of lots and the leverage ratio will influence the actual monetary value of each pip movement.
Bear in mind that there is no definitive value for a single pip in forex. The value of the pip will be different for pairs with other quote currencies.
What is the best forex broker?
The best forex broker really depends on your own specific needs and aims, as well as your level of experience. Most people look for the lowest spread forex brokers, as these companies help you to keep trading costs under control.
However, the best CFD brokers offer more than just tight spreads. They also give you a strong range of financial instruments, and the top trading platforms to work with. As well as this, they will offer the best trading tools and conditions, such as fast trade execution.
If you’re relatively new to trading, you’ll need to look for the best forex brokers for beginners. These brokers give you intuitive trading tools, a gentle learning curve, excellent educational resources, and top client support.
