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How to calculate swap charges?
A swap/rollover fee is charged when you keep a position open overnight. A forex swap is the interest rate differential between the two currencies of the pair you are trading, and it is calculated according to whether your position is long or short.
Example
Trading 1 lot of EUR/USD (short) with an account denominated in EUR
| 1 lot | 100,000 |
| Pip value | $10 |
| Swap rate | 0.54 |
Swap fee: (10 × 0.54 × 1) / 10 = $0.54
Trading 1 lot of EUR/USD (short) with an account denominated in EUR
Swap = (Pip Value × Swap Rate × Number of Nights) / 10
Example
Trading 1 lot (1,000 barrels) of Brent with an account denominated in USD
| Swap rate | -18.84 |
| Number of nights | 1 |
Swap fee: 1 × -18.84 × 1 = $-18.84
For spot energy, the Swap Calculator works as follows:
Swap = Lot Size × Swap Rate × Number of Nights
Note: Swap is calculated once for each day that a position is rolled over. To account for weekends, a triple charge may occur depending on the instrument.
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Swap charges are calculated based on the interest rate differential between the two currencies in a pair, the position size, and the direction of the trade (buy or sell).
Swap rates fluctuate due to changes in global interest rates and liquidity conditions. Long and short positions have different rates because they involve borrowing one currency and holding another.
Triple swap is typically applied mid-week (usually Wednesday) to account for weekend settlement when markets are closed.
Yes, swap charges can accumulate over time and impact overall profitability and account equity, which indirectly affects risk and margin levels.