What is Swap (rollover)?

Since every currency trade involves borrowing one currency to buy another, interest rollover charges are part of forex trading.

Interest is paid on the currency that is borrowed, and earned on the one that is bought. Swap may be positive or negative and applies whenever you leave a trade open overnight.

If you are buying a currency with a higher interest rate than the one you are borrowing, then the net interest rate differential will be positive and you will earn funds as a result. Conversely, if the interest rate differential is negative then you will be charged.

Swap also applies to non-FX instruments, due to the fact that all instruments are traded in particular currency which incurs an interest rate.

On the platforms, ’swap’ is automatically converted into the balance currency. The Operation is conducted at midnight server time (10pm UK time) and will only be charged/gained if you have an open trade at this time.

From Friday to Monday swap is charged once. From Friday to Monday swap is charged at triple rate to account for the weekend. FxPro Swap rates are in line with the Banks and are reviewed and updated on a weekly basis by the Execution department.

The up-to-date swap lists can be viewed at any time on our website in the instrument specifications or via the trading terminals: http://www.fxpro.co.uk/trading/forex