What is a Swap (overnight fee) and how is it calculated?

A swap, or rollover fee, is the interest added or deducted for holding a position open overnight. This rate is determined by the interest rate differential between the two currencies involved in the trade and can be either positive (credited to your account) or negative (debited from your account).

Since central bank interest rates are constantly changing, swap rates are also variable. To view the most accurate Swap Long and Swap Short rates, please follow these steps:

1. Right-click on the desired symbol in your MT5 trading platform.

2. Select Specification from the drop-down menu.

3. Scroll down in the pop-up window to find the exact 'Swap long' and 'Swap short' values.