At FNmarkets, the USD value of your position is calculated by multiplying the number of units you hold by the current market price of the asset in quote currency (which may not always be USD). Here’s how it works:
1. Determine the number of units: This is how many units of the asset you own.
2. Find the current market price: This is the latest price of the asset in USD.
3. Calculate the USD value: Multiply the number of units by the current market price.
For example, if you hold 10,000 units of USD/JPY and the current market price is 110.00, the calculation would be the following:
USD Value = Number of Units * Current Market Price
USD Value = 10,000 * 110.00 = 1,100,000 JPY
To convert this to USD, you would divide by the current USD/JPY rate. If 1 USD = 110 JPY, then:
1,100,000 JPY ÷ 110 = 10,000 USD
So, in this case, the USD value calculation of your position would be 10,000 USD.