# How do I calculate the P/L (profit or loss) per trade?

To calculate the profit or loss for a closed trade, please use the formula below:

• BUY Trade: (Close rate - Open rate) X Units X USD exchange rate = P/L
• SELL Trade: (Open rate - Close rate) X Units X USD exchange rate = P/L

To calculate the profit or loss for an open trade, please use the formula below:

• BUY Trade: (Current rate - Open rate) X Units X USD exchange rate = P/L
• SELL Trade: (Open rate - Current rate) X Units X USD exchange rate = P/L

Instruments that are traded in US Dollars (such as USD currency pairs, commodities, cryptoassets and stocks traded on US exchanges) do not require a conversion and therefore the USD exchange rate value in the formula is 1.

Stocks on the London Stock Exchange are traded in pence rather than pounds. To calculate the profit or loss for a London stock trade, use the applicable formula above and divide the result by 100.

For an in-depth explanation and examples of profit/loss calculation, click here.

For information on how to calculate the amount of units for a trade, click here.