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Swap Rates
A swap is the overnight financing charge or credit applied to leveraged positions held past market close.
It is calculated daily at an annual rate of 6% and applied at the 5:00 GMT rollover. Swaps are quoted in pips and can be estimated using the trading calculator. Swap-free options are available on selected instruments.
- 6% Per Year
- Flat Rates
- Daily Application
6%
Per Year
Flat
Rates
Daily
Application
WHAT IS SWAP RATE
A swap rate is the interest applied to calculate the overnight cost or credit for holding a leveraged position beyond market close.
Swaps are calculated in pips and can be estimated using the trading calculator. Swap-free options are available on selected instruments. Understanding swap rates helps traders manage costs and plan trades effectively.
Why is a Triple Swap applied?
A triple swap is charged on a designated weekday, usually Wednesday, to account for overnight financing over the weekend when markets are closed.
How Is Swap Calculated?
Swap rates are determined by multiple market and trading factors. These include prevailing central bank interest rates, the interest rate differential between the two currencies in a pair, current exchange rates, the type of trading instrument, and the nature of the order held. Together, these elements influence the cost or credit applied for holding a position overnight.
The swap calculation is:
Example:
| Lots | 1 |
| Contract size | 100,000 USD |
| Annual Rate | 6% (0.06) |
| Daily Swap Amount | (100,000 × 1 × 0.06) / 365 = 16.44 |
| Number of days | 5 days |
The swap is calculated daily based on the annual percentage and applied to the total contract value.
Frequently Asked Question's
Find quick and reliable answers to your most commonly asked questions here.
Swaps, also known as overnight or rollover fees, are charges or credits applied to trading positions that remain open overnight. These fees represent the cost of holding a position beyond the daily rollover time.
Swap is calculated at an annual rate of 6%, applied on a daily basis. The daily swap amount is derived by dividing the annual rate by 365 and is charged only for the number of days the position remains open overnight
The daily rollover time is 5:00 GMT. Any position held open beyond this time is subject to a swap charge or credit.
Depending on the trading instrument and whether you hold a buy or sell position, swaps may result in either a charge or a credit. This depends on market conditions and the interest rate structure of the traded instrument.
Although markets are closed on weekends, swap costs are still applied. A triple swap may be charged on a specific weekday to account for weekend holding costs.
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