In Forex, a swap 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 the 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 the desktop app right-click on a symbol in the Market Watch window and select “Specification”. 

To see where to find the day in the specifications section, click here.

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 the 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 the desktop app right-click on a symbol in the Market Watch window and select “Specification”.

To see where to find the day in the specifications section, click here.