Forex traders using the Maxwell trading platform will have access to a pip calculator. This allows investors to determine the value of trades executed in terms of pips, which is important for implementing a risk management strategy. The calculations are based upon real-time exchange rates.
The pip calculator can also give you the pip value for trade with results displayed in terms of the base currency of your trading account. Maxwell’s pip calculator gives you a variety of base currencies to choose from.
It is really easy to use the pip calculator. First, indicate the size of the trade executed in terms of a number of lots. Second, choose the currency pair you are looking to trade. Then, specify your trading account’s base currency. Finally, click on the button labeled “Calculate” to display the pip value of your trade. As simple as that!
There are various events that traders need to keep track of due to their impact on the markets. These include central bank decisions, releases of macroeconomic data, political events, and trade talks between countries. Maxwell assists traders in keeping track of these events through our economic calendar on the Maxwell trading platform.
Our economic calendar will give you details for each event and the level of impact expected from each event. Also, the economic calendar specifies the potential relevance for particular assets. With our calendar you will be able to keep tabs on the timing of relevant economic reports and data releases. Additionally, the calendar lists scheduled announcements by central bank officials as well as other important figures.