Profit Calculator Before you open a position on a trade, it’s important to know exactly how much capital you could gain or lose depending on the outcome of the trade. Our Profit Calculator is a simple tool designed to help you do just that. Calculate your potential profits and losses now Currency pair: Buy or Sell: buy sell Open price: Close price: Trade size (lots): Deposit currency: Main Only trade with money that you are prepared to lose. You have to admit that for factors beyond your control you can lose all the money in your trading account. Many Forex brokers are also liable for losses that exceed your trading capital Forex Calculators which will help you in your decision making process while trading Forex. Values are calculated in real-time with current market prices to provide you with an accurate result. Calculate currency conversion in real time with our free currency converter. Convert major or minor currencies and precious metals
Currency Calculator
Forex —The foreign exchange market forex is a global, decentralized, forex money calculator, over-the-counter market for the trading of currencies and is the forex money calculator market in the world followed by the credit market. This market is a necessity because one unit of currency very rarely equals exactly one unit of another currency. The forex is able to facilitate the receipt or payment of units of currency that are forex money calculator in value. Bid-Ask Spread —The difference between the bid and ask price.
Theoretically, buyers want the smallest possible spreads, while sellers want the highest spreads. Real-world currency exchanges with brokers, banks, or businesses typically do not follow precise market rates. As financial middlemen, most will set exchange rates of their own at bid-ask spreads that return a percentage as profit for doing business. Some call this forex money calculator a fee or commission.
Pip —A pip is the smallest unit of value in a bid-ask spread. A pip is sometimes called a point. Currency Pair —A quote of the relative value of one currency unit against another currency unit. The first currency in a currency pair is called the base currency, forex money calculator, while the second is called the quote currency. Interbank bank-to-bank Rate —This is the wholesale exchange rate that banks use between themselves.
Major Currencies —This refers to a short list of the most traded currencies, which generally stay the same year-to-year. Most recently, forex money calculator, this includes the U. dollar USDEuro EURJapanese yen JPYBritish pound GBPAustralian dollar AUDCanadian dollar CADand the Swiss franc CHF. The USD in a currency pair with any of the others is known as a major currency pair. Currency is a universal medium of forex money calculator for goods and services in an economy, forex money calculator, and it is believed to have been used as such dating back at least 3, years, forex money calculator.
Before this, it is assumed that bartering, which is the exchange of goods and services without the use of money, was likely used. Throughout history, currency has taken forex money calculator different forms. Some examples include coins, barley, gold, silver, squirrel pelts, 8-ton carved limestone rocks, salt, knives, cowrie shells, stamps, potato mashers, peppercorn, tea bricks, and cheese, forex money calculator.
As history has shown, anything that a group of people in an economy attaches value to can be used as currency. The first "official" currency was minted in the seventh century BC by King Alyattes of Lydia in modern-day Turkey. For practical reasons, Lydian currency took on the form of a round coin, which became the first ever standardized unit of currency. Paper currency, forex money calculator, on the other hand, was invented in Asia and was brought back to Europe by Marco Polo after his travels to Asia.
Modern currency is much more uniform and regulated. Major currencies in the world today take on the physical form of paper bills or coins which are easily carried on a person, forex money calculator, but most of a person's currency is typically stored in digital accounts. The value of these currencies is backed by the promise of their issuing governments, which makes them fiat money currency declared by the government to be an official medium of payment but is not backed by a physical commodity.
Before fiat money existed, currencies were usually backed by a commodity such as forex money calculator or silver. While modern currency is physically represented by coins and paper bills, most large-scale currency transactions are done electronically.
Modern technology utilizes sophisticated currency exchange mechanisms and systems to exchange currencies between digital accounts rather than physically. Even the exchange of currency for everyday goods and services such as groceries or haircuts involves physical currencies less and less due to the growing popularity of debit cards, credit cards, and mobile payments. Cryptocurrencies are digital currencies operating independently of a forex money calculator bank or authority, in which encryption techniques are used to regulate the generation of units of currency as well as to verify the transfer of funds.
The current technology behind cryptocurrencies is called blockchain, which is a decentralized ledger of all transactions across a peer-to-peer network. A prominent feature of blockchain is that participants can confirm transactions without the need for a central clearing authority, such as a central bank or government. The value of cryptocurrencies fluctuates, just like a regular currency, and they can be traded in the same way as any other currency.
While bitcoin is currently the most recognizable cryptocurrency with the largest market cap by far, forex money calculator, there are many other notable cryptocurrencies such as Ethereum ETHLitecoin LTCand Ripple XRP. Some experts say that there is a slight chance that cryptocurrencies become the currency of the future. For the purposes of this calculator, Bitcoin is the only cryptocurrency available for conversion at the moment.
Currencies used in different countries are rarely, if ever, exactly equal in value. As a result, exchange rates the rate at which a currency is exchanged for another exist to enable the equal exchange of currencies. Real-time exchange rates are supplied by the foreign exchange market forexthe same place where most currency transactions take place. The forex is a global, decentralized, over-the-counter market for the trading of currencies.
Each day, trillions of dollars US worth of currency are traded. The market functions at high speeds, forex money calculator, with exchange rates changing every second. The most common forex transactions are exchanges between the U. dollar and European euro, the U. dollar and the Japanese yen, and the U.
dollar to the British pound Sterling. A forex quote always consists of two currencies, forex money calculator, a base currency and a quote currency, sometimes called the counter currency.
The most common base currencies are EUR European Union eurosforex money calculator, GBP British poundsAUD Australian dollarsand USD U. The following is an example of a forex quote:. dollars aside from external costs such as commission of one euro. The base currency always equals exactly one. In the real world, most exchange rates are given in terms forex money calculator how much a U. dollar is worth in a foreign currency. The euro is different in that it's given in terms of how much a euro is worth in U.
When buying foreign currencies, there are usually two prices listed: the buying rate and the selling rate. They are sometimes called the "bid price" and "ask price" for the currency pair, respectively. Buying foreign currency from a bank or exchange broker involves the selling ask price, which is usually higher than the buying price because, like all merchants, currency brokers sell high and buy low. In the real world, the exchange rates can be influenced by thousands of different factors.
The following are a few:. Anyone who desires to travel to a destination that uses a different currency can benefit from doing some research in advance. Amount From To Show most popular currencies only. Financial Calculators. Mortgage Loan Auto Loan Interest Payment Retirement Amortization Investment Currency Inflation Finance Mortgage Payoff Income Tax Compound Interest Salary K Interest Rate Sales Tax More Financial Calculators.
Financial Fitness and Health Math Other. about us sitemap terms of use privacy policy forex money calculator - calculator. Show most popular currencies only.
How to Calculate Pips in Forex
, time: 6:27Forex Calculators | Myfxbook
Profit Calculator Before you open a position on a trade, it’s important to know exactly how much capital you could gain or lose depending on the outcome of the trade. Our Profit Calculator is a simple tool designed to help you do just that. Calculate your potential profits and losses now Currency pair: Buy or Sell: buy sell Open price: Close price: Trade size (lots): Deposit currency: Main A Forex Profit Calculator is useful to simulate, just by inputting the required values, how much money and pips a trading position represents, quantitatively, if the position is closed in profit or loss. It works by simulating a trading position opened at a specific value and closed also at a specific value, and what will be the outcome in Free currency calculator to convert between most of the global currencies using live or custom exchange rates. Also check the latest exchange rate of most currencies, experiment with other financial calculators, or explore hundreds of individual calculators addressing other topics such as math, fitness, health, and many more
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