How is swap calculated and where do I find swap rates?

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Swap fee is charged when you carry over a position from one trading day to the next. The charge may be positive or negative depending on the currency pair and the type of your trade (buy or sell). It is calculated using the following formula:

Swap = (Pip Value * Swap Rate * Number of trading days)

You can find the Swap Rate in your MetaTrader 4 trading terminal. You must ‘Right click” on your chosen instrument in the ‘Market Watch’ section, and then choose the ‘Specification’ option from the dropdown menu.

Note: Carrying over a position from Wednesday to Thursday, a triple charge is taken since during the entire weekend swap is charged only once. The ‘3-days swap’ is a standard in FX industry with all brokers and financial institutions.

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