Accounts and conditions
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MetaTrader 4 Trading Terms and Conditions
Swap (Long/Short) 6
1 pip value per, LOT
||Margin at leverage
Forex trades are performed from Monday 00:00 to Friday 22:00 CET (Central European Time) 24 hours a day.
Spot Metals trades are performed from Monday to Friday from 00:00 to 23:15 CET (till 22:00 CET on Friday).
6Operation of moving transaction to a new value date is called SWAP. This is an operation of closing an old position and simultaneous opening a new position on the same currency pair, of the same volume and at the same price, but on another value date. In this case, the Company charges or pays a compensation according to the direction and the base currency of the transaction. This payment (the cost of transition) is applied to the client's account as a credit or debit balance operation and depends on the difference in interest rates between currencies. For calculation purposes the Company uses commonly referenced interbank rates, such as Libid and Libor (borrowing and lending rates respectively), which reflect real current market conditions for lending and borrowing. The Company does not charge commission for SWAP operations, that is no additional percentage is added or subtracted from interest rates difference (except for the currency pair EURCHF). Below you can find more information about SWAP calculation practices.
SWAP calculation for Forex:
Suppose that the current overnight Libor rate for the Australian dollar is 3.55%, while Libid is 3.425%. At the same time the rates for the US dollar are 0.15% and 0.025% respectively. Going long on AUDUSD an investor is buying the Australian currency and is selling an equal amount in US dollars. Therefore he is expected to receive 3.425% for buying the Aussie and pay 0.15% selling short or borrowing the US dollar. The calculation results in a SWAP of 0.96 points for a long position. On the contrary if a short position has been taken, the investor would have to pay 3.55% for borrowing the Australian dollar and would receive 0.025% for owning the US dollar. The difference between the rates would result in 1.03 swap points.
Attention: for the trading instrument EURCHF additional commission is included in SWAPs calculation due to the special exchange rate formation of the currency pair. Commission added to the market interest rate for long positions: 0.25%; for short positions: 0.125%.
SWAP calculation for Spot Metals:
When calculating SWAPs on operations with material assets like metals, the Company uses zero rates for the base asset and corresponding bid and offered interbank rates for currencies. The Company charges no additional commission for SWAP operations on material assets.
SWAP calculation for "Golden Instruments"
As both base and quoted parts of "Golden Instruments" are material assets, zero rates are applied resulting in zero swaps for long and short positions.
SWAP is applied singly all week except for Wednesday to Thursday rollover when SWAP is applied trebly (for weekend days).
SWAP takes place every 24 hours at 00:00 server time, and it depends on the quote currency rate at the moment of SWAP calculation. For this reason, SWAP amount may differ from day to day.
Table of SWAP values is given in quote currency per 1.0 lot trade (trading position).
For more information about Terms and Conditions of Business click here.