A swap in forex refers to the interest that you either earn or pay for a trade that you keep open overnight. Swap short is when you keep a short position open overnight. The swap rate varies for each symbol as it's based on the difference between the interest rates of the central banks of the 2 currencies in the pair.
The Swap Short fee can be calculated using the following formula: One Point * Trade Size * Swap Short in Points.
Example for EURUSD: 0.00001*100,000*5.9166= 5.9166 USD
This means you would earn $5.9166 in swaps for keeping 1 lot of EURUSD overnight.
One Point = 0.00001 in EURUSD as point is the last digit in the price.
Trade Size = Lots * 100,000(Contract Size) = 100,000
Swap Short in Points = 5.9166 on a Sell position on EURUSD.
You can check the swap values for different instruments in the Symbol properties window on the mobile app. On desktop app right-click on a symbol in the Market Watch window and select "Specification".
To see where to find the day on the specifications section, click here.
Swap Long is when you keep a Long position open overnight. The swap rate varies for each symbol as it's based on the difference between the interest rates of the central banks of the 2 currencies in the pair.
The Swap Long fee can be calculated using the following formula: One Point * Trade Size * Swap Long in Points.
Example for EURUSD: 0.00001*100,000*-11.44605= -11.44605 USD
This means you'd pay $11.44605 in swaps for keeping 1 lot of EURUSD overnight.
One Point = 0.00001 in EURUSD as point is the last digit in the price.
Trade Size = Lots * 100,000(Contract Size) = 100,000
Swap Long in Points = -11.44605 on a Long position on EURUSD.
You can check the swap values for different instruments in the Symbol properties window on the mobile app. On desktop app right click on a symbol in the Market Watch window and select "Specification".
To see where to find the day on the specifications section, click here.
