The Forex profit calculator is a program that lets you determine the potential gain and loss of a trade. It calculates the expected profit by combining the profits of previous periods with the initial deposit. Profits accrue in an arithmetic progression without reinvestment and geometric progression with reinvestment. It also allows you to see the growth of your profits over time.
What Is Forex Profit Calculator?
The profit calculator is very useful as it helps you determine the profit of a specific trade. It also helps you set the Stop Loss and Take Profit levels. To use the calculator, you first need to input the instrument and the base currency. It also needs to know the length of the trade and whether it was a long or short trade. After entering the information, the calculator will work out the profit based on the opening and closing price and will even factor in the swap fee if applicable.
The forex profit calculator is a useful tool to use to help plan your trading strategy. It helps you adjust trade size, take profit, stop loss, and direction according to market conditions. It also calculates the profit based on the difference between the entry and exit prices and multiplying the resulting value by a pip value. For example, if you decide to buy EURUSD at 1.35560, you should expect to earn $100. If you are willing to risk more, you can change the Trade Size to 1,000,000 and make $1,000.
Despite being an essential tool for trading, the profit calculator is not a foolproof method to determine a trade’s success. Different types of accounts use different spreads, commissions, and swaps. These factors all affect your personal profit. It’s therefore important to understand the details of the terms and conditions that apply to your account before making any trade.
Check The GlobeX360 Review First
The GlobeX360 trading platform offers three kinds of accounts: standard, pro, and expert. A standard account requires a minimum deposit of $100. There are spreads starting at 0.9 pips on currency pairs and 1.2 pips on other tradable assets. Maximum order size is 50 lots, and leverage is one to three hundred. The platform has support for automated trading, educational events, and account management, and a free 30-day trial period.
The GlobeX360 app gives you access to your account and allows you to review your trade history, submit withdrawal requests, and transfer funds between trading accounts. The app also supports currency conversion and refers you to IBs and traders. The only drawback is that you can’t access the account’s privacy settings or other information.
Another plus for the globeX360 trading platform is the low margin requirements. The company is regulated by the Financial Sector Conduct Authority, which encourages fair treatment and financial education. It also offers a stable environment for its clients. Moreover, it protects customer assets. Customer funds are kept in a separate account to ensure that the broker does not use them for day-to-day operating expenses.
Globex360 accepts several payment methods, including credit cards, debit cards, bank transfers, and SWIFT. It also doesn’t charge for account maintenance or software. However, you can expect to pay a higher trading commission than other brokers. Furthermore, you can choose to set up multiple trading accounts with different currencies. You can transfer funds between them as needed.