Currency F&O Brokerage
One of the largest markets in the world is the global forex market.
However, that isn’t the only way to take part in foreign exchange. The currency
market is not as large as the forex on, but it has a fairly high daily average.
Currency futures give you access to the foreign exchange market which feels
like the share trading market.
In this market, currency futures, also called forex futures, are contracts which
are used to buy or sell an amount of a particular currency at a price and date
in the future which is set.
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Online currency trading first introduced at the
Chicago Mercantile Exchange, after the gold standard system was removed. This
market works just like a regular futures market, where the currency is traded
in terms of contract months at standard maturity rates.
The currency brokerage calculator
The currency brokerage calculator is a simple
online tool available. It can be used to calculate the net profit or loss after
or before taxes. The calculator requires a number of input values. The brokers
charge a small amount (variable) as stamp duty. Just like all other online
calculators, you will need to input known values like selling and buying price.
If the contracts are being traded at multiple prices, then you need to take the
average. Another factor to look at is the lot size. The number of lots indicates
the number of lots traded for which the net profit or loss is to be calculated
using the online currency brokerage calculator.
This process takes place through stock brokers, and brokerage is payable in mere amounts of paisa, determined by
the turnover, which is influenced by lot size. Brokerage charges are
made on both sides of transactions separately. The other charges, in the form
of taxes, are calculated automatically. You can see two results on your
calculator. One with and without the extra charges.
The net profit or loss is
given only after taking into consideration the brokerage and taxes, as these
are what most traders look for.
You can buy and sell prices, and can be entered
upto 4 decimal values. For trading in National Stock Exchange of India, the
tick size is 0.0025. The way these values are determined to vary according to
the exchange you are on. In India, the currency trading is offered in NSE-SX,
MCX-SX, and USE. There are popular currency pairs like USD-INR, EUR-INR,