SWAP RATE

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Swap rate

Overnight interest is the daily interest earned or payable based on the total number of positions held.
When you buy one currency you are selling another. So, any currency you buy or sell will charge or pay you overnight interest based on the difference in interest rates. Every day at 5 am Beijing time, your account will automatically settle the net interest. But if you close your position before or after 5 o 'clock, you don't have to pay or earn any interest.

Please check the specific overnight interest in your MetaTrader 4 trading terminal as follows:

(right-click any of the tools in the market watch section, and then click the specifications button to open a new window showing the trading times for the selected currency pair. Please note that the segregated interest rate will change as the market interest rate changes.)

Calculation of swap rates

SELL:EUR/USD
  • Your overnight interest is calculated as follows:

    The price of opening a position:1.1406

    Trading size:2

    Interest-rate spread :2.65

    Days :3

    +360: Overnight interest:
    1.1406*200,000*2.65%*3/360=50USD

  • The fund of opening a position

    The price of the euro against the US dollar (EUR/USD) is 1.1406/1.1407,
    and you decide to sell 2 lots (equal to €200,000) at 1.1406.
  • Overnight interest

    The current difference value of European and US interest rate is 2.65,
    and the time used for position held is 3 days. 3 days later,
    the overnight interest is 1.1406*200,000*2.65%*3/360=$50
(The net value of your storage is 200.000x1.1406=USD228,120.)