Swaps and Rollovers

Swap/Rollover charges are an overnight 'interest' that is added or deducted for holding a trade open overnight. The swap is an overnight interest rate that is credited or deducted automatically for the client's account and is converted into the currency that the account is denominated in. The swap rate is calculated and charged once every weekday for 1 day rollovers, with the exception of Wednesday for Forex and Metals, and Friday for Indices and other symbols, when swaps are calculated and charged 3 times to account for the weekend rollover (Friday - Monday).

When holding a Forex trade overnight, the amount that is credited or deducted is calculated as the difference in interest rates between the two currencies that make up the pair that you are holding overnight PLUS any commissions charged by your broker, depending on whether your position is held long or short. As a result, you will either gain or lose on swap based on whether your position incurs a positive or negative rollover.

Swap = Swap Rate * Contract Size * 10^-Digit * Lot Size * Number of Nights

Swap charges for spot indices are based on the interest rates of the asset you are holding, PLUS any commissions charged by a broker on the long positions held overnight, or minus the commission charged by a broker on short positions held overnight.

Swap = Lot Size * Swap Rate * Number of Nights

Swap charges for share CFDs are based on the interest rates of the asset you are holding, PLUS any commissions charged by a broker on the long positions held overnight, or minus the commission charged by a broker on short positions held overnight.

Swap = Swap Rate / 100 / 360 * EOD Price * Contract Size * Lot Size * Number of Nights