A swap (also called a rollover fee) is the interest paid or earned for holding a trading position overnight. Every day at the server rollover time (usually 00:00 server time), open positions are charged or credited a swap based on the interest rate differential between the two currencies in the pair.
Swap rates can be positive or negative. If you're long on a currency with a higher interest rate than the one you're short, you earn a positive swap. If the interest rate differential is against you, you pay a negative swap. Most retail forex pairs carry negative swaps in both directions due to broker markups.
Every Wednesday (or the broker's designated triple-swap day), the swap is charged at 3× the normal rate to account for the weekend settlement period. This is known as the triple swap and applies even if you don't hold over the actual weekend.
Swap rates differ between long (buy) and short (sell) positions. Choose both to see the applicable rate.
Swap fees scale with position size. Larger positions incur larger daily swap charges.
Enter how many days you plan to hold the position. The calculator accounts for the triple-swap day automatically.
The calculator shows the daily swap amount, total swap over your holding period, and the underlying swap rate used.
Common Questions
Result
Swap Rate: 2.31 points
Swap rates from our MT5 server. Rates change daily — verify on your platform.
Formula
Long: 2.31 points × 1 lots = +2.31 CAD/day × 1 days