CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60.30% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

60.30% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

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Swap rates at
ThinkMarkets

Find out what swap rates, also known as overnight funding,
apply to CFD trades that remain open overnight
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What are swap rates?

When you open a spread bet or a CFD trade and want to hold it open past 4.59pm New York time/11.59pm MT4/MT5 (platform time), you are charged a daily interest fee. This happens because when you use leverage, you are effectively borrowing money to open the position. Once a position is held overnight, an interest adjustment is made in your account to reflect the cost of funding. 

Where can I find your swap rates?
You can find the applicable swap rates directly on your platform. Simply follow the steps below: 
Meta Trader4 LogoMeta Trader5 Logo
  • Click ‘View’ along the top menu 
  • Select 'Symbols'
  • Select the instrument 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
Think Trader Logo
  • Navigate to the Market Watch
  • Add your desired symbols
  • Press and hold on any symbol name for 3 seconds to bring up the symbol description info
  • Long/Short swaps are displayed in points

Key facts

  • To account for weekends, swap rates are tripled on Wednesday for forex and metals and on Friday for all the other instruments. 
  • On weeks where there are holidays, the swap rate structure is subject to change. 
  • Overnight funding does not apply to futures.
How are swap rates calculated?
Here are the formulas used to calculate the swap rates for every night that a position is held open. 
Forex

Swap values for FX are applied in points on ThinkTrader and in percentage terms for MT4 and MT5.  
 

When calculating the FX swap, ThinkMarkets considers the Tom/Next (Tomorrow/Next) interest rates from the interbank forward market of top liquidity Tier-1 banks. The resulting value is taken directly from the liquidity providers, partners of ThinkMarkets. 
 

Rollovers can be positive or negative. The main components forming the Tom/Next interest are based on the interest rates differential between the currencies (part of the pair), liquidity (in this case the liquidity of the forward market can be reduced by upcoming important political events, end of a month, a quarter, or a year), demand for the interbank forward market, uncertainty around currencies and other important events concerning some of the currencies. 

Formula: Number of lots x Amount of short/long swap points = swap debit/credit in second currency.

Example: Your account currency is in USD, and you hold 2.5 lots short of EUR/GBP.

Short swap in points: -1.3395

Amount: 2.5 lots

Calculation: 2.5 X -1.3395 = -3.49 GBP converted to USD based on current USD/GBP rate = -3.91 USD

CFDs on Indices

Swap values for indices are applied in points on ThinkTrader and in percentage terms on MT4 and MT5.  
 

To calculate the swap points, ThinkMarkets uses a formula based on the relevant short-term financing rate of the underlying currency +/- a brokerage markup of 3%.   
 

For long positions (buy), the financing is calculated based on the relevant short-term financing rate plus 3% to roll the position.  
 

For short positions (sell), you may receive/get charged financing based on the relevant short-term financing rate minus 3%.  
 

See the table below for the short-term financing rate benchmarks.  

ThinkTrader Formula: Number of lots x Contract size x Amount of short/long swap points/100 = swap debit/credit in Index base currency.

Example: Your account currency is in USD, and you hold a long position in GER30 for 3 lots. 

Long swap in points: -95.37

Amount: 3 lots

Contract size: 1

Calculation: 3 x 1 x -95.37/100 = 2.86 EUR converted to USD based on current EUR/USD rate = -2.79 USD

MT4/MT5 Formula: Number of lots x Amount of short/long interest/100/360 = swap debit/credit in Index base currency

Example: Your account currency is USD, and you hold a long position in GER30 for 3 lots.

Long swap in percentage: -4.3%

Amount: 3 lots

Calculation: 3 x 1 x -95.37/100 = 2.86 EUR converted to USD based on current EUR/USD rate = -2.79 USD

CFDs on Shares

Swap values for stocks are applied in points on ThinkTrader and in percentage terms on MT4 and MT5. 
 

To calculate the swap points, ThinkMarkets uses a formula that is based on the relevant short term financing rate of the underlying currency +/- brokerage markup of 3%.  
 

For long positions (buy), the financing is calculated based on the short-term financing rate plus 3% to roll the position. 
 

For short positions (sell), you may receive/get charged financing based on the short-term financing rate minus 3%  
 

See the table below for the short-term financing rate benchmarks. 

ThinkTrader Formula: Number of lots x Contract size x Market price x Amount of short/long swap points/100/360 = swap debit/credit in Index base currency  

Example: Your account currency is in USD, and you hold a long position in TSLA for 100 stocks. 

Long swap in points: -3.78

Amount: 100 lots

Contract size: 1

Calculation: 100 x 1 x -3.78/100/360 = -2.25 USD

MT4/MT5 Formula: Number of lots x Market price x Amount of short/long interest/100/360 = swap debit/credit in Index base currency

Example: Your account currency is USD, and you hold a long position in APPLE for 100 shares.

Long swap in percentage: -6.05

Amount: 100 stocks

Calculation: 100 x -6.05/100/360 = -2.41 USD 

CFDs on Commodities

Swap values for all commodities are applied in points on ThinkTrader, MT4 and MT5. 
 

Non-maturing instruments on Metals (XAU, XAG and Copper), Oil (WTI and Brent) as well as natural gas (NGAS) are subject to swapping (interest rate) when a position remains open for the next day. In determining the amount of the swap in points, ThinkMarkets considers the interest for the days the position is retained, as well as information on the amount of the mark-up in which the costs of transferring the position between the different futures contracts are distributed upon their expiration. 

ThinkTrader and MT4/MT5 Formula: Number of lots x Contract size x Amount of short/long swap points/100 = swap debit/credit in commodity base currency. 

Example: Your account currency is in USD, and you hold a short position in XAUUSD for 5 lots.

Short swap in points: 2.5526

Amount: 5 lots

Contract size: 100

Calculation: 5 * 100 * 2.5526/100 = 12.76 USD

CFDs on Cryptocurrencies*

Swap values for cryptocurrencies are applied in points on ThinkTrader and in percentage terms on MT4 and MT5. The rates are subject to change, depending on cryptocurrency volatility, price, and liquidity.
 

* - cryptocurrencies are only available for professional clients in the UK

Short-term financing rate benchmarks

 
Currency New benchmark Benchmark description
USD SOFR Secured Overnight Financing Rate
EUR ESTR Euro Short-Term Rate
AUD AONIA Australian Overnight Index Average
GBP SONIA Sterling Overnight Index Average
JPY TONAR Tokyo Overnight Average Rate
HKD HONIA Hong Kong Overnight Index Average
ZAR SOBAR South African Benchmark Overnight Rate

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