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Rollover is the process of extending the settlement date of an open position to the next trading day. In forex, spot trades have a T+2 settlement date, so positions held overnight are automatically rolled over. A swap fee (interest rate differential) is charged or credited during rollover, at 00:00 server time (17:00 New York time). Wednesday’s rollover is charged at three times the daily rate to cover the weekend, and extra days can be charged around bank holidays.
You hold a long EUR/USD position overnight. At 00:00 server time, the broker rolls the position over to the next day and charges a swap fee of $2.30. On Wednesday night, the fee is tripled to $6.90 to cover Saturday and Sunday.
