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Browse through the details below on our currency swap rates. Find out what they are and how and when they are calculated with examples.
Swap rates are the interest rate differentials embedded in currency trades.
To put it more simply, consider how a currency 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:
1) Click 'View' along the top menu
2) Select 'Symbols'
3) Select which currency pair you want to see the swaps for, and click 'Properties'
4) 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.
Risk Warning: Derivative products are leveraged products and can result in losses that exceed initial deposits. Please ensure you fully understand the risks and take care to manage your exposure and seek independent advice if necessary. It's important for you to consider relevant legal documents before you decide whether or not to acquire any of our products.
When trading or investing in securities or other products, the value of such can rise and fall, which means that your investment could increase or decrease in value. The past performance of any security or other products is not an indication of future performance. Please consider the risks involved before you trade or invest.
TF Global Markets (South Africa) (Pty) Ltd is an Authorised Financial Services Provider (FSP No 49835). Registered address: 61 Katherine Street, Dennehof, Sandton, 2196. Registration number 2017/098181/07. The product issuer of financial derivatives is TF Global Markets (Aust) Limited, who is licensed and authorised to do so by the ASIC with AFSL No. 42700
The information on this site is not directed to residents of the United States, Canada and Japan and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
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