Important notes on our swap rates (overnight funding)
If you keep any position open overnight, an interest adjustment (or swap rate) will be made to your trading account to compensate for the cost of keeping your position open. Instruments traded on our platforms are subjected to different swap rates and other conditions:
Forex and commodities
The swap rate is based on interbank lending rates, in addition to a 2% fee that is charged daily (every night) that your position is held. The swap rate also depends on the time and days that you hold your positions open:
If you keep a position open past 23:59:59 GMT, you will be subjected to the basic swap rate.
Since it takes two days for forex transactions to settle, positions that are still open on Wednesday at 23:59:59 GMT will be charged three times the swap rate to account for weekends.
Our swap rate may also be adjusted to take holidays into account.
An interest adjustment will be made to your trading account to compensate for the cost of keeping your position open overnight.
The interest adjustment is calculated on an annual basis for long and short positions according to the formula: (volume in lot * specified swap size/100)/360.
Please note that our swap rate also depends on the time and days you hold your positions open.