Swap is the fee charged for holding a position open overnight. It refers to the interest rate difference between the two traded currencies and is determined according to whether your position is long or short. Swaps are calculated and applied on every trading night. Triple swaps are charged on Wednesday, Thursday or Friday - depending on asset class and/or instrument - to account for the weekend. Just enter the currency pair you want to trade, along with the trade size and your account currency, and then click ‘Calculate’ to determine the swap fee.
Swaps are calculated differently depending on asset classes. Respective methodologies are described below. Forex, CFDs on Metals, CFDs on Indices, CFDs on Energies and CFDs on Commodities calculate swaps by points using the following formula: Lot x Contract Size x Long/ Short Points x Point Size.
CFDs on Shares and CFDs on Cryptocurrencies calculate swaps by interest (using current price) with the following formula: Lot x Contract Size x Current Price x Long/Short Interest / 360.
Lot - the MetaTrader volume of your position
Contract Size - the actual number of units of an asset in your position
Current Price - market price of the instrument at the time of rollover (overnight session roll time during which swaps are calculated)
Points/Interest - swap points/ interest rate to be debited/ credited for holding your position overnight
Point Size - is the number of digits an asset has after the decimal point
The calculators are supplied by TeleTrade as auxiliary tools serving informational purposes solely. Data for the calculations is sourced from TeleTrade's trading servers and there could be delays before it appears on the website. Due to the possible feed delay and the rounding of values, the displayed calculation results may deviate from the actual parameter values applicable in the market.
Risk Warning: Trading Forex and CFDs on margin carries a high level of risk and may not be suitable for all investors. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Prior to trading, you should take into consideration your level of experience and financial situation. TeleTrade strives to provide you with all the necessary information and protective measures, but, if the risks seem still unclear to you, please seek independent advice.
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