Swap Rates
A forex swap rate, or rollover, is defined as the interest rate applied overnight to an open FX position, determined by the interest rate differential between two currencies in a pair, and whether the position is long (buy) or short (sell). As such, it may be ‘earned’ (given) or ‘paid’ (taken), depending on whether the differential rate has a positive or negative value.
What you need to know
- Swap rates (rollovers) are applied to a trading account only when an FX position is kept open to the next trading day.
- Rates are calculated and applied every trading night (at the end of day rollover). Note: On Wednesday nights, swap rates are calculated at 3x the standard rate.
- Currency pairs have specific swap rate charges, calculated in points, on the basis of a standard size of 1.0 lots (100,000* base units). MetaTrader (MT5) converts points automatically into the base currency of your account.
- Some currency pairs may be subject to a negative swap rate on both sides (buy and sell).
*for Forex symbols
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You will able to view the swap rates from within your MetaTrader trading terminal by following a simple process outlined below.
1
Right click on any instrument in the ‘Market Watch’ section
2
Left click on the ‘Specification’ option from the dropdown menu
3
A new window will open that shows the long and short swap rate for the pair selected
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