Overnight Positions

Overnight Positions (SWAP)

How do you calculate a swap rate?

Swap debits / credits are calculated as follows:
Current Long / Short Rate  x  Number of Lots = Swap Debit/Credit in Second Currency

Where to get swap rate?

Right click on Market Watch, then click on Specification. Swap Rate on Long and Short will appear.

Scenario 1:

On 7 July 2016
Swap Rate for long : -8.991562
Swap Rate for short: +2.969688

Your account currency is USD, and you hold one lot long on EUR/USD on 7 July 2016:
-8.991562  x  1 = -$8.99 USD

Scenario 2:

Your account currency is USD, and you hold 2.5 lots short of EUR/USD on 5 February 2015:
+2.969688  x  2.5 = +$7.42 USD

When are swap rates calculated?

Our swap rates are calculated each day at 4.59pm New York time/11.59pm MetaTrader 4 platform time (GMT+2). Trades opened before 4.59pm and held open past this time will be subject to swap rates. Swap rates are tripled on Wednesday at 4.59pm to account for weekends. This is the standard structure of swaps. However, on weeks where there are holidays, the swap rate structure may be modified to account for the holiday.

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