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Swap rates are the interest rate differentials embedded in currency trades.
To put it more simply, consider how a forex trade works: you borrow one currency to buy another. For instance, if you are buying EUR/USD, you are borrowing US dollars and buying euros with the proceeds. In doing so, you are paying interest on the US dollars you borrow, but earning interest on the euros you bought.
Our swap rates are visible on all our platforms, by following these simple steps:
Click 'View' along the top menu
Select which currency pair you want to see the swaps for, and click 'Properties'
You can now see the long and short swap rates in the pop-up window
Swap debits/credits are calculated as follows:
Current long/short rate * number of lots = swap debit/credit in second currency
Your account currency is AUD and you hold one lot long on AUD/USD on 5 February 2015:
+4.96 * 1 = $.4.96, converted to your account currency = A$6.35
Account currency is USD, you hold 2.5 lots short of EUR/GBP on 5 February 2015:
-1.08 * 2.5 = -£2.70, converted to USD = -$4.13
Our swap rates are calculated each day at 4.59pm New York time/11.59pm MT4 platform time (GMT+2). Trades that have been opened before 4.59pm and held open past this time will be subject to swap rates. Swap rates are tripled on Wednesday at 4.59pm to account for weekends. Please note that this is the standard structure of swaps – however, on weeks where there are holidays, the swap rate structure may be modified to account for the holiday.
Margin call policy: The forced liquidation level is 50%. Please review the ThinkForex Margin Call Policy for complete deatils.
TF Global Markets (UK) Limited. 2 Copthall Avenue, London, EC2R 7DA.
FCA Number: 629628
Registration Number: 09042646
UK: +44 203 514 2374Email: email@example.com
TF Global Markets (Aust) Pty Ltd.
Level 11, 636 St. Kilda Road, Melbourne, VIC, Australia 3004.
AFSL Number: 424700ABN Number: 69 158 361561
AU: +61 3 9093 3400
Losses can exceed deposits. Ensure you fully understand all risks involved and seek independent advice if necessary.