What is the difference between the Forex compound calculator and the forex swap calculator?

The forex compound calculator and the forex swap calculator are two different tools each showing different information, though both can prove useful for traders, especially those following the carry trades strategy. The swap calculator, as its name suggests, allows traders to find out the swap rates for different currency pairs, for both short and long positions. Thus, it provides extensively detailed information which is most useful for traders planning carry trades, since it enables the potential amount of earnings for each currency pair they plan to trade.

The Forex compound calculator on the other hand, gives a less detailed picture. Traders must provide their starting balance, the interest rate and the duration of the trade for the compound calculator to yield results, while the compound calculation is more complete if traders can also find and enter the respective swap rate themselves. Therefore, using a swap calculator can aid and enhance the use of a compound calculator.