What is a Swap Rate?
Rollovers or overnight interest that is added to or deducted from a position held overnight are referred to the Forex Swap Rates. The difference between the interest rates in the respective countries involved in an open trade will determine the swap charge on the long or short position.
Swaps At Icon FX
- Swaps are applied automatically to open positions
- Each Forex pairs swap fee is measured in the standard size of one lot
- Swaps can be both positive or negative on both long and short positions
- Swaps are calculated at 10:00PM (GMT)
- Thursday and Friday swaps are calculated and charged on Wednesday nights
- The swap is only applied when the position is held until the next FX trading day
You are able to see our swap rates in real time through the MT4 or cTrader platform.