Is the dollar sign used interchangeably to denominate any currency on babypips ? For example, I have noticed that 100,000 units of the EUR/USD has “$” sign in front of it($100,000). This is confusing when computing margin requirements. With a 2% margin requirement, would this be 2,000 US dollars or 2000 Euros, if my account is in USD.
Thanks
It would be 2,000 EUR = $2,433.40 at the current EUR/USD exchange rate.
Here’s another way to look at it –
A forex position of 100,000 units of EUR/USD has a notional value of 100,000 EUR.
At the current price of EUR/USD = 1.2167 that notional value equates to $121,670.
In a USD-denominated account, 2% margin on this position would be: 2% of $121,670 = $2433.40
Welcome to this forum, by the way 
I think you should just simply stick to the exchange rate and check what it is for a particular currency pair.
I use a simple formula to calculate margin while trading forex. I just multiply the size of the trade by the margin percentage. Then, subtract the margin used for all trades from the remaining equity in the account. The resulting figure is the amount of margin that I am left with.
Though the formula to calculate margin percentage is easy, I think you will be better off with an online calculator. You can check whether your broker offers it or not. If it doesn’t, you can use babypips calculator- one of the best and reliable calculators you will use.