What is a swap fee?
A swap fee, also known as a rollover fee, is an overnight interest charge or credit applied when a position is held past the daily market close at 5:00 PM EST.
Swap rates are determined by the interest rate differential between the two currencies in a pair and depend on whether your position is long or short.
A positive swap means you receive interest.
On the other hand, a negative swap means you pay interest.
Some instruments may have negative swap rates on both long and short positions.
You can view the exact daily swap rates for each instrument directly in your trading platform under Symbol Specifications.
Swaps are applied per standard lot and only to positions held overnight—they do not apply to day trades.
To account for weekend rollover:
Triple (3x) swap fees are applied on Wednesdays for most Forex instruments
Swap fees are overnight interest charges or credits based on the interest rate difference of the currencies you’re trading.
They only apply to positions held past market close, so always check the swap rates in your platform before holding trades overnight, especially on Wednesdays when triple swaps apply.
Understanding how swaps work helps you avoid unexpected charges and manage your positions more effectively.