Don't forget about triple swap days on Wednesdays.
Swaps as at: 09/06/2016
What is a Swap?
A foreign exchange rollover or swap rate is interest made overnight for holding a forex position until the next trading day. This is either received or paid. The swap charge is determined based on the interest rates of both of the countries involved in the currency pair. Another factor is whether the position is short or long. In a currency pair, interest in paid on the currency sold and is received on the currency bought. The swap charges are released on a weekly basis by financial institutions that we work with. They are calculated based on the market conditions and risk-management analysis. The swap charge is measured on a standard size of 1.0 lot.
The broker is paid or charged interest for holding the money until the next trading day. When a trader decides to hold a position, the prime broker will hold it and earn or pay a level of interest. This interest is passed on to Global Prime which is then given to the trader. It should be noted that on Wednesdays there is a triple swap day. This is due to market close on Saturday and Sunday.
View Live Swaps
To obtain the latest Swap Rates please see the Global Prime MT4 Trading Platform and;
- Click View > Market Watch
- Right Click Market Watch and select Symbols
- Choose currency pair and select Properties
*Alternatively, Ctrl-M -> Ctrl-U will open up Market Watch and then Symbols
If you have any enquiries or would like more information, please don’t hesitate to contact us by phone on +612 8277 6611, email at email@example.com or start a live chat session right here on the website.
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