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Forex Swap rate: what is it?
A forex swap rate or rollover is defined as the overnight interest added or deducted for holding a position open overnight. Swap rates are determined by the overnight interest rate differential between the two currencies involved in the pair and whether the position is long or short.
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What You Should Know About Swap Rates
- Swaps are only applied when a trade is kept open overnight through to the beginning of the next trading day
- Certain symbols can have negative swap rates for both buy (long) and sell (short) positions
- Swap rates are either calculated in points or in percentage terms, and our trading platforms automatically convert them into the account base currency
- Swap rates can differ between symbols and the rates shown are per standard lot
- Most of our symbols have triple swap charges on Fridays, while forex pairs and metals have triple swaps on Wednesdays.
Overnight Swap Rates
- You can see the latest swap rates in the MT4/5 or cTrader platforms by following the steps below
- MT4/5 : Right click on any instrument in the 'Market Watch' and then left click on 'Specification', then a pop-up will appear showing symbol information including swap rates
cTrader : Click on any symbol in the watchlist/all symbols area, on the left side of the screen, then look to the right side of the screen under 'Symbol info'