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 weekday rollovers you plan to hold the position through. The calculator includes the triple-swap rollover and shows a range when the total depends on the day you open.
The calculator shows the daily swap amount, total swap over your holding period, and the underlying swap rate used.
Common Questions
One rollover each week, usually Wednesday, is charged at three times the rate to cover the weekend, so 5 rollovers cost 7 nights of swap.
On the trading server's clock (New York time + 7 hours). Swap is charged at server midnight, so a position opened on Monday is first charged Monday's rollover.
Result
No CAD/USD rate is available, so the result is shown in CAD only.
Total Swap
+2.82 CAD
Nights of swap charged: 1
Swap Rate: 2.82 points
Triple swap day: Wednesday
Formula
1 × 100,000 × 2.82 × 0.00001 = 2.82 CADEstimate only. Based on the instrument's current MetaTrader 5 settings and the latest market prices; spreads, commissions and account-specific conditions are not included. The figures in your MetaTrader 5 platform are authoritative.