Swap fees, also referred to as overnight financing charges, may be applied when a trading position remains open past the daily swap rollover time. Depending on the instrument, trade direction, position size, and applicable swap rate, the fee may either be charged to or credited to your trading account.

How do swap fees work?

Several factors affect the amount:

• Trading instrument: Swap rates vary between instruments.
• Trade direction: Buy (long) and sell (short) positions may have different swap rates.
• Position size: The volume of your position affects the swap rates.
• Holding period: Swap adjustments depend on the applicable charging days.

Swap rates may change over time.

How to calculate the swap fees?

1. Currency-Based Calculation

   Swap = Swap Rate × Lot Size × Number of Applicable Nights

2. Points-Based Calculation

   Swap = Swap Rate × Contract Size × 10^(-Digits) × Lot Size × Number of Applicable Nights

3. Percentage-Based Calculation

   Swap = (Swap Rate ÷ 100 ÷ 360) × Contract Size × End-of-Day Price × Lot Size × Number of Applicable Nights

The final swap amount may also be affected by currency conversion, applicable daily multipliers, and changes in swap rates.

For instrument-specific calculation details, refer to the specifications available on your trading platform.

Can swap fees be positive or negative?

Holding both buy and sell positions on the same instrument does not necessarily cancel out swap adjustments because their rates may differ.

When are swap fees charged?

If you open and close a position before the applicable settlement time, overnight swap is generally not applied.

Settlement times follow the trading server's time zone, which may differ from your local time.

Some instruments apply a higher swap multiplier on designated days to account for weekends or settlement arrangements.

How can I check swap rates on MetaTrader 4 or MetaTrader 5?

On desktop

1. Open your trading platform and select View → Market Watch.
2. Right-click the instrument you wish to check.
3. Select Specification or Properties, depending on your platform.
4. Locate Swap Long for buy positions and Swap Short for sell positions.

On mobile

1. Open the MetaTrader 4 or MetaTrader 5 application.
2. Navigate to Quotes.
3. Select the relevant trading instrument.
4. Open its Properties or Details.
5. Review the swap information for long and short positions.

The displayed rates may change over time. Check the latest instrument specifications before keeping a position open overnight.