Swap rates
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What is a Swap or Rollover?
Swap rate, also referred to as Rollover rate, is the overnight interest (that is charged or paid) for holding positions open overnight in foreign exchange trading. It is determined by the overnight interest rate differential between the two currencies involved in the pair and whether the position is a buy ‘long’ or sell ‘short’.
asteolux is not involved in the physical delivery of trades, thus all positions left open at the end of the trading day will be rolled over to a new value date and will therefore have exposure to a swap charge or credit.
Elements of Swap Rates
- Swap rates are applied only when there are positions kept open overnight.
- Swap rates are applied at the end of the trading day or at 00:00 platform time.
- Swap rates are calculated in points and can be positive or negative depending on the interest rate of the two currencies.
- Swap rates are calculated and applied on every trading night,
- however on Wednesday night swap rates are charged at triple the usual rate to account for the weekend.
- Each currency pair has its own swap charge and is measured on a standard size of 1 standard lot (100,000 base units).
asteolux Latest Swap Rates
To view our most up-to-date swap rates, please refer to the Market Watch panel in our Meta Trader terminal.
Simply right-click on any instrument in the ‘Market Watch’ panel and then select the ‘Specification’ option from the context menu. A new window will open that shows various instrument specifications including the long and short swap rates of the symbol you selected.
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FAQ
A forex swap rate, also known as a rollover rate or a swap, is a fee that is paid or charged to open trade at the end of each trading session. It’s the interest fee, which is charged or earned, for keeping positions open overnight. A swap rate allows positions to be extended into the next interbank session without closing or settling.
A swap rate (also known as rollover rate) can be applied when positions are kept open overnight. These rates are issued by financial institutions that brokers work with and then applied to the trading services of each company. All trades left open after midnight (platform time) will have the swap rate applied to them. Typically different brokers and platforms have slightly different rates and could apply the swap rates at a different time.
A spread is how brokers make money from each trade. It’s essentially a commission that replaces brokerage fees and charges. In forex trading, a spread is the difference between the buy price (ask) and the sell price (bid) of a security or forex pair. The difference is usually represented in pips. When trading a position, a spread is the gap or the difference between the short position and the long position.
