Online Forex Interest Calculator

Every so often I get curious about how much interest I'm earning or losing by holding certain currency positions. For instance, I recently discovered I've shelled out a lot more than I've made in interest this year because I've been making a lot more long EUR/USD trades than short ones. Knowing that I can make a few extra bucks may also affect my decision to hold a position through the weekend or not. So I decided it would be helpful to have a handy calculator on hand that would tell me exactly how much I could expect to earn or pay out in interest.

Fortunately there's no shortage of these calculators online, and Oanda offers this easy to use one as part of its FXMath suite of currency trading tools. Curious how exactly interest is calculated, or perhaps you'd enjoy nothing more than calculating it yourself? Here's a detailed explanation of how it's done.

Related topics:
Forex Calculators & Converters
Learning about carry trades