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".
Please note that on Wednesday the swap is 3x as its charged for the coming weekend.
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".
Please note that on Wednesday the swap is 3x as its charged for the coming weekend.