Swap fees
Find out what swap rates are and how they apply to your positions.
What are swap fees?
A swap fee, also known as an overnight fee, is interest that you receive or pay for holding a position overnight. When you roll a position over to the next working day, you’ll incur a positive swap, where you earn interest from the contract, or a negative swap, where you incur interest from the contract. The amount you receive or pay depends on the instrument you are trading and how long your position is open.
![](/getmedia/2de889cb-bc9a-4822-b47a-a8b901edd192/Desktop-Tablet.png)
How to find our swap rates
You can find the applicable swap rates directly on your chosen trading platform. Simply follow the steps below:
![MT4/MT5](/getmedia/bcfd70ff-8b99-4f00-b426-b8553ad4f4e1/mt4-5.png?width=176&height=80&ext=.png)
MT4/MT5
- Click ‘View’ along the top menu
- Select ‘Symbols’
- Select the instrument you want to see the swap rates for and click ‘Properties’
- You can now see the long and short swap rates in the pop-up window
![ThinkTrader](/getmedia/6047191e-5de0-4616-a714-ca63878f8164/Logo.png?width=80&height=80&ext=.png)
ThinkTrader
- Navigate to the Market Watch
- Add your desired symbols
- Press and hold on any symbol to view the description info
- You can now see the long/short swaps displayed in points
How are swap fees calculated?
Here are the formulas used to calculate the swap rates for every day that a position is held open.
MARKET
Forex
PRODUCT
EUR/GBP
SHORT SWAP IN POINTS
-1.3395
LOTS
2.5
Your account currency is in USD, and you hold 2.5 lots short of EUR/GBP.
FORMULA
Number of lots × amount of short or long swap points
=Swap debit or credit in second currency.
FORMULA
Number of lots × amount of short or long swap points
=Swap debit or credit in second currency.
CALCULATION
2.5 ×-1.3395
=-3.49 GBP converted to USD based on a USD/GBP rate of 0.8925
=-3.91 USD
Swap fee =-3.91 USD
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