Calculator
All-in-one forex calculator
Work out the margin, pip value, point value and overnight swap for a trade in one place. Choose your account currency, the pair, your leverage and position size, and add the swap rates from your broker’s contract specifications.
- Required margin
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- Pip value
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- Point value (min. price move)
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- Position value
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- Swap long per night
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- Swap short per night
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Type the current price for exact figures; the pre-filled prices and the USD rate for your account currency are only examples. Swap points come from your broker’s contract specifications, usually quoted per lot per night in points. Brokers usually charge three nights’ swap once a week (often on Wednesday).
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What the calculator works out
- Required margin: the part of your balance the broker sets aside to keep the trade open. It is the position value divided by your leverage.
- Pip value: what a one-pip move is worth on your position, in your account currency.
- Point value: the value of the smallest price move your broker quotes, a tenth of a pip on most pairs.
- Position value: the full size of the trade in your account currency (lots × contract size × price).
- Swap: the overnight financing charged or paid for holding the position past the daily rollover, from the swap points your broker publishes.
Leverage and margin
Leverage doesn’t change your profit or loss per pip; it only changes how much margin is locked up. With a $10,000 account, one standard lot of EUR/USD needs $3,600 of margin at 1:30 but only $216 at 1:500, and in both cases a 10 pip move is worth $100. Higher leverage makes it easier to open positions that are too large for your account, so size trades by risk with the lot size calculator, not by the margin you have free.
Where to find swap rates
Swap rates change often, with interest rates and broker pricing. In MetaTrader, right-click the symbol in Market Watch and open Specification to see “Swap long” and “Swap short”. Most brokers also publish them on their website. Islamic (swap-free) accounts replace swap with a fixed fee or none at all.
To compare what brokers charge in spreads and commissions, use the trading cost calculator. For pip value on its own, see the pip calculator.
Frequently asked questions
How is forex margin calculated?
Margin = position size in units × price ÷ leverage, converted into your account currency. One standard lot of EUR/USD at 1.0800 is worth $108,000, so at 1:30 leverage the broker holds $3,600 as margin; at 1:500 it holds $216.
What is the difference between a pip and a point?
On most currency pairs a pip is the fourth decimal place (0.0001) and a point is a tenth of a pip (0.00001), the smallest price move a five-digit broker quotes. On yen pairs a pip is 0.01 and a point is 0.001. On gold most brokers quote two decimals, so the minimum move is $0.01.
How do I calculate swap?
Brokers publish swap rates per lot per night, usually in points, separately for long and short positions. Multiply the swap in points by the value of one point for your position size. A negative number is a charge, a positive number is a credit. Most brokers charge three nights’ swap once a week, often on Wednesday, to cover the weekend.
Why does my broker show a different margin?
Brokers can set lower leverage for some instruments, for weekends or for large positions, and regulators cap leverage for retail clients (for example 1:30 on major pairs in the UK, EU and Australia). Your broker’s live price and the exchange rate it uses for your account currency will also differ slightly from the example rates here.
Risk warning: CFDs and leveraged forex are complex instruments and come with a high risk of losing money rapidly. Between roughly 60% and 89% of retail investor accounts lose money when trading CFDs, depending on the provider. Consider whether you understand how they work and can afford to lose your money. Read the full risk warning.