Free Forex Calculators — Pip, Lot Size, Drawdown
Essential trading tools used by professional traders every day. Calculate pip values, lot sizes, drawdown recovery, and compound growth — instantly and for free.
Free Forex Trading Calculators — Essential Tools for Every Trader
Every professional forex trader uses calculators before placing a trade. Not because they can't do the maths — but because getting position sizing, pip values, or risk calculations wrong by even a small margin can cost hundreds or thousands of dollars. Our free trading calculators give you instant, accurate results for the four most important calculations in forex trading.
Whether you're trading gold (XAU/USD), major forex pairs, or indices like the Dow Jones (US30), these tools work for every instrument and account size. Bookmark this page — you'll use it before every trade.
What Each Calculator Does
💰 Pip Value Calculator
Calculates the monetary value of each pip movement for any currency pair, lot size, and account currency. This is the foundation of risk management — you can't size a position correctly if you don't know what each pip is worth. Supports major pairs, cross pairs, XAU/USD (gold), and US30 (Dow Jones). Particularly important for gold traders, where pip values are very different from standard forex pairs.
📐 Lot Size Calculator
The most important calculator on this page. Enter your account balance, risk percentage per trade, and stop-loss distance — and it tells you the exact lot size to use. This is the calculation that separates traders who survive from those who blow their accounts. If you're risking more than 1–2% per trade, you're gambling, not trading. This calculator enforces proper risk management on every trade.
📉 Drawdown Recovery Calculator
Shows the harsh reality of drawdowns: a 50% loss requires a 100% gain to recover. A 75% loss requires a 300% gain. This calculator reveals exactly how much gain you need to recover from any drawdown, and estimates how many months it will take at your target monthly return. Use it to understand why preventing losses is mathematically more important than maximising gains.
📈 Compound Interest Calculator
Demonstrates the power of compounding in trading. A $5,000 account making 5% monthly doesn't grow by $250/month — it accelerates because each month's gains are reinvested. After 12 months, that $5,000 becomes $8,979 through compounding, not the $8,000 you'd expect from simple interest. Add optional monthly deposits to see how additional capital injection supercharges growth. Includes a month-by-month breakdown table.
Why These Calculations Matter for EA Trading
If you're using Expert Advisors for automated trading, these calculators are essential for initial setup. Every EA requires you to configure lot sizes, and the right lot size depends on your account balance, risk tolerance, and the instrument you're trading. Running an EA on gold with the same lot size you'd use on EUR/USD is a recipe for a blown account — gold pip values are fundamentally different.
For prop firm traders, the lot size calculator is non-negotiable. With daily drawdown limits of 4–5%, you need to know exactly how much each trade risks before the EA opens it. Use the drawdown recovery calculator to understand why a single bad day can take weeks to recover from — and why conservative risk settings aren't boring, they're profitable.
Test Your Forex Knowledge
Now that you've got the right tools, how solid is your trading knowledge? Our free forex quizzes cover everything from basic concepts to advanced prop firm rules — 79 questions across 6 interactive quizzes including a Gold Trading IQ test, Risk Management quiz, and Prop Firm Readiness test. Each question comes with a detailed explanation so you learn as you go.
Frequently Asked Questions
How do I calculate pip value for gold (XAU/USD)?
Gold pip values work differently from forex pairs. For XAU/USD, one pip equals $0.01 in price movement, and for 1 standard lot (100 troy ounces), each pip is worth $1.00. This means a $10 move on gold equals 1,000 pips and $1,000 per standard lot. Use our pip calculator with the XAU/USD pair selected for instant, accurate results at any lot size.
What lot size should I use for a $10,000 account?
It depends on your risk per trade and stop-loss distance — not your account size alone. Using the 1% risk rule on a $10,000 account with a 30-pip stop-loss on EUR/USD, you'd trade approximately 0.33 standard lots. Use our lot size calculator with your specific parameters for an exact answer. Never use a fixed lot size without calculating it against your risk tolerance first.
How much gain do I need to recover from a 50% drawdown?
You need a 100% gain to recover from a 50% loss. If your $10,000 account drops to $5,000, you need to double it to get back to $10,000. This asymmetry gets exponentially worse — a 75% drawdown requires a 300% gain to recover. This is the single most important reason to prioritise risk management above everything else in trading.
Is 5% monthly return realistic in forex?
With proper risk management and a proven strategy, 3–8% monthly is achievable and sustainable. Anything consistently above 10% monthly carries significant risk. Our compound calculator lets you model different scenarios — you'll see that even a conservative 3% monthly turns $5,000 into $7,129 in 12 months, or $17,909 in 36 months through the power of compounding.
Do these calculators work for prop firm accounts?
Yes — and they're essential for prop firm trading. Use the lot size calculator to ensure every trade stays within your daily drawdown limit (typically 4–5%). Use the drawdown recovery calculator to understand why even a small breach matters. If your prop firm account is $100,000 with a 5% daily limit, one poorly sized trade can wipe out $5,000 of breathing room instantly.
How do I calculate lot size for an Expert Advisor?
Before running any EA, use the lot size calculator to determine the correct starting lot size for your account balance. Enter your balance, your desired risk per trade (1–2% recommended), and the EA's typical stop-loss distance (found in the EA's documentation or settings). The calculator gives you the exact lot size to configure in your EA's settings. Re-calculate whenever your account balance changes significantly.
Are these forex calculators free?
Yes, completely free with no registration, no email required, and no limitations. Use them as many times as you need. We built these tools because proper risk calculation is the foundation of successful trading — and every tool that helps traders make better decisions helps the entire forex community.