'Back to base' or 'convert back to base' (CB2B) refers to the automated process of converting any realised trading profit or loss (including any charges or fees) across to the account base currency. The conversion takes place at the instant any unrealised P/L becomes realised, and will be based on our quoted rate +/- 0.50%.
Unrealised P/L in the account summary is calculated using our current bid / offer quote. It's calculated back to your base currency, using the CB2B rate.
You can work out your realised profit and loss through the following calculation:
P/L = (Opening Rate – Closing Rate) x Position Size.
Immediately after a position is closed, any realised profit or loss is automatically converted back to the account base currency (see convert back to base for further details). You will be able to view your unrealised P/L on your account in real time. The calculation is:
(Opening Rate – Current Rate (Bid/Offer depending if you are long or short)) x Position Size.
This will be displayed in the account's base currency.