Trading Cost Calculator
A trading cost calculator adds up what a trade costs before the price moves your way, from the spread, the commission and the overnight swap. On 1.00 lot of a USD-quoted pair, a 2-pip spread alone costs 2 × $10 = $20.
How do you calculate the cost of a trade?
The total cost of a trade = spread cost + commission + swap, each worked out in your account currency for the lots you trade. Spread is paid on every trade, commission depends on the account, and swap applies only to positions held overnight. The parts are:
- Spread cost = spread in pips × pip value per lot × lots.
- Commission = commission per lot, round turn (opening and closing) × lots.
- Swap = swap per lot per night × lots × nights held. A negative swap is charged and adds to the cost; a positive swap is credited and reduces it.
Dividing the total by the pip value of your position gives the cost in pips: how far the price must move in your favour before the trade breaks even.
What is a worked example of trading cost?
One lot of a USD-quoted pair with a 2-pip spread, $7 commission and two nights of −$2.50 swap costs $32 in total, or 3.2 pips. In a USD account one pip on 1 lot is worth $10, so the price must move 3.2 pips in your favour to cover it.
1.00 lot of a USD-quoted pair in a USD account, so one pip is worth $10. The spread is 2 pips, the commission $7 per lot round turn, and the swap −$2.50 per lot per night, held for 2 nights.
| Part | Calculation | Cost |
|---|---|---|
| Spread | 2 × $10 × 1 | $20.00 |
| Commission | $7 × 1 | $7.00 |
| Swap | $2.50 × 1 × 2 | $5.00 |
| Total | $20 + $7 + $5 | $32.00 |
$32 ÷ $10 a pip = 3.2 pips. The price must move 3.2 pips in your favour before the trade covers its own cost. What each cost is, and when it is charged, is explained in the lesson Spread, Commission and Swap.
What does each input mean?
The calculator needs the pip value per lot, your position size, the spread, the commission per lot, the swap per night and the nights held. Take the spread, commission and swap from the symbol specification in MetaTrader 5. The pip value calculator gives the pip value for any symbol.
- Account currency: the currency your account is held in. All the amounts are in it.
- Pip value per 1.00 lot: what one pip is worth on one lot, in your account currency. It is 10 for a USD-quoted pair in a USD account. The pip value calculator works it out for other symbols and currencies.
- Position size (lots): how many lots the position is.
- Spread (pips): the gap between the buy and sell price, from your platform's quote.
- Commission per 1.00 lot, round turn: the total for opening and closing one lot, if your account charges commission.
- Swap per 1.00 lot per night: the overnight financing amount from the symbol's specification. Enter it negative when it is charged.
- Nights held: how many nights the position stays open past the daily rollover.
What are the assumptions and limits?
The result covers the three costs you enter, spread, commission and swap, for one trade held for the nights you choose. Spreads widen around news and at the daily rollover, and swap rates change. How swap works overnight is covered in the carry trade and swap lesson.
- Commission and swap start at zero on purpose. They depend on the account type and the symbol, so read your own symbol specification in MetaTrader 5 and enter those values.
- Spreads change through the day and can widen sharply around news and at the daily rollover, so the spread you pay can differ from the one you enter.
- Swap rates change, and one weekday is usually charged three nights to cover the weekend.
- The calculator shows costs only. It does not show any gain or loss from the price moving, and nothing you enter is stored.
Frequently asked questions
What is a round-turn commission?
It is the commission for both opening and closing a position. If an account quotes commission per side, the round turn is twice that figure. Enter the round-turn amount per lot.
Is the spread charged when I close the trade?
The spread is paid once per trade. You open at one side of the quote and close at the other, so the gap between the buy and sell price is the cost, whichever way the trade goes.
Why is swap sometimes positive?
Swap reflects the interest-rate difference between the two currencies, adjusted by the broker. Depending on the pair and the direction, it can be charged or credited. Check the symbol's long and short swap in its specification.
How many pips do I need to cover my costs?
Divide the total cost by the pip value of your position. In the worked example, $32 ÷ $10 = 3.2 pips. The calculator shows this figure under the total.
Do costs matter more for short trades?
Yes. The spread and commission are the same however long you hold, so they are a larger share of a small target. A trade aiming for 10 pips with 3 pips of cost keeps much less of the move than one aiming for 100.
Sources
- MetaQuotes, MetaTrader 5 Help: Market Watch (accessed 20 October 2026): the symbol specification shows the spread in points, swap long for buy positions, swap short for sell positions and a swap multiplier for each day of the week. https://www.metatrader5.com/en/terminal/help/trading/market_watch
- MetaQuotes, MetaTrader 5 Help: Basic Principles (accessed 20 October 2026): buying is executed at the Ask price and selling at the Bid price. https://www.metatrader5.com/en/terminal/help/trading/general_concept
- MetaQuotes, MetaTrader 5 Help: Executing Trades (accessed 20 October 2026): commission can be charged per deal or accumulated over a day or month, and it is deducted in the equity calculation. https://www.metatrader5.com/en/terminal/help/trading/performing_deals
- Commodity Futures Trading Commission (CFTC), CFTC Glossary (accessed 20 October 2026): a round turn is a completed transaction of a purchase and a liquidating sale, or a sale and a covering purchase. https://www.cftc.gov/LearnAndProtect/AdvisoriesAndArticles/CFTCGlossary/index.htm
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