Help CenterWhat are Swap Fees?
Swap fees, also known as overnight fees, are interest charges you either pay or earn for holding a position overnight.
- If you keep a position open past market close, the trade is “rolled over” to the next trading day.
- You’ll either be credited (positive swap) or charged (negative swap) interest depending on:
- The instrument you're trading
- The direction of your trade (buy or sell)
- How long has the position been held
How Can I Check Swap Specifications?
Want to know the exact swap fees for a specific instrument before holding it overnight? Here’s how to find them:
-
Open the Market Watch window (Ctrl + M or View > Market Watch).
-
Right-click on the trading instrument you're curious about.
-
Select “Specification” from the dropdown menu.
-
A new window will pop up showing:
-
Swap Long
-
Swap Short
-
Contract size, margin requirements, and more
-
Swap values may be shown in points or directly in your account currency, depending on the instrument and your account type.
What’s the Difference Between Swap Long and Swap Short?
- Swap Long: The interest applied when holding buy (long) positions overnight.
- Swap Short: The interest applied when holding sell (short) positions overnight.
How Is Swap Calculated?
Swap = (Pip Value) x (Swap Rate) x (Number of Nights Held)
Keep in mind:
- Swap fees are automatically applied and shown in your trading history.
- One day of the week (typically Wednesday) applies a triple charge to cover the upcoming weekend when markets are closed. This is clearly reflected in the Instrument Info.