A Forex Swap/Rollover is an overnight interest earned or paid for holding a position open overnight in FX trading, and it’s calculated based on whether your open positions are long or short. Rollover interest is applied to a trader’s trading account on each trading day at 5 p.m. Eastern Standard Time, which is 00:00 MetaTrader 4/MetaTrader 5 server time. On Wednesday, rollover is charged triple rated due to market close on Saturday and Sunday. 

Why Is It Important?

• Swaps are applied only when positions are kept open until the next forex trading day.
• You receive some of the most competitive rollover/swap rates in the industry
• For some instruments, it is possible to charge swap interests (negative rollover charges) on both sides, both ‘long positions’ and ‘short positions’, of the trade. 
• Our rollover rates are posted every day and available within the trading platform
• Each currency pair has its own swap charge and is measured on a standard size of 1.0 lots (100,000 base units)
• Rollover rates are updated on a weekly basis

Because our roll over rates reflect some of the most competitive in the industry, this allows us to keep your rollover costs as low as possible when you pay on the rollover, and maximize your credit when you earn on the rollover.

Where to Find Swaps?

You will be able to view the latest swap rates in your MetaTrader 4 and MetaTrader 5 trading terminal by following the process outlined below. 

Open MT4/MT5 >> Right Click on any instrument you want to check in the “Market Watch” section >> Left Click on “Specialization” >> A new window will open that shows the long and short swap rate for the pair selected.

Calculation of the Swap:

The formula we use for calculating the swap charge for Forex pairs is the following:

Swap (in base currency) = Swap Rate x Lots (Volume) x Number of Nights

Learn more about forex trading by navigating our forex resource page here.