Know our financing fees
Trade smarter by understanding how we calculate financing charges based on asset class, holiday & trading hours.
What are swaps & rollovers?
Trading markets take holidays too, be prepared for upcoming dates that may impact your open positions by causing extended rollover periods.
As we do not offer the physical delivery of assets, we adjust the price on some products for rolling the settlement day and allowing you to keep the position open. We recommend you always check the rollover fees (or “swaps”) per product to protect your trading strategy.
Things to consider:
- When you trade forex of CFDs on a "spot" basis on MT4 or MT5, most trades settle two business days (T+2 pairs) from inception - however some pairs (like USDCAD, USDRUB & USDTRY) are settled on a one business day basis (or ‘T+1’).
- Different asset classes settle on different days, our financing costs are calculated on a per position basis and that they may be charged to your account.
- Formula for forex & oil CFDs: Lots x Contract Size x Long/Short Swap x Point Size
- Formula for share & index CFDs: (Long/Short Swap)/360/100 x Closing Price x Lots
To learn more, check our FAQs page or see our holiday trading hours.
Download this quarter’s list of rollovers by product.
Swap rates by product
Symbol | Long | Short |
---|---|---|
AUDCAD | -0.512 | -4.276 |
AUDCHF | 3.226 | -7.215 |
AUDCNH | -448.392 | -368.391 |
AUDDKK | -22.061 | -22.061 |
AUDHKD | -291.186 | -325.386 |
AUDJPY | 4.329 | -14.538 |
AUDNZD | -6.888 | 1.066 |
AUDSGD | -16.207 | -22.287 |
AUDUSD | -2.715 | -0.317 |
CADCHF | 1.407 | -7.437 |
CADJPY | 7.498 | -13.341 |
CADSGD | -6.417 | -9.337 |
CHFJPY | -0.723 | -8.867 |
CHFNOK | -59.798 | -59.798 |
CHFPLN | -22.262 | -22.262 |
CHFSGD | -54.600 | -5.433 |
CNHJPY | -56.691 | -56.880 |
EURAUD | -7.578 | 1.913 |
EURCAD | -3.700 | -1.175 |
EURCHF | 1.101 | -7.185 |
EURCZK | -66.495 | -66.495 |
EURDKK | -196.164 | -196.164 |
EURGBP | -5.475 | 1.338 |
EURHKD | -286.137 | -199.536 |
EURHUF | -107.733 | -107.733 |
EURILS | -32.496 | -32.496 |
EURJPY | 3.936 | -19.036 |
EURMXN | -649.962 | 260.399 |
EURNOK | -95.528 | -17.953 |
EURNZD | -24.309 | -7.134 |
EURPLN | -68.811 | -8.171 |
EURRUB | -9.277 | -9.277 |
EURSEK | -47.743 | -81.118 |
EURSGD | -23.481 | -25.351 |
EURTRY | -5771.309 | 2982.791 |
EURUSD | -9.220 | 5.113 |
EURZAR | -36.972 | 14.321 |
GBPAUD | -2.654 | -5.458 |
GBPCAD | 2.732 | -8.724 |
GBPCHF | 9.262 | -13.721 |
GBPCNH | -547.398 | -443.496 |
GBPDKK | -78.481 | -78.481 |
GBPHKD | -222.171 | -360.273 |
GBPJPY | 13.342 | -30.974 |
GBPNOK | -63.255 | -84.370 |
GBPNZD | -11.826 | -7.667 |
GBPPLN | -137.013 | -137.013 |
GBPSEK | -46.186 | -200.017 |
GBPSGD | -17.703 | -33.803 |
GBPTRY | -383.065 | -383.065 |
GBPUSD | -4.868 | 0.692 |
GBPZAR | -37.545 | 5.245 |
HKDCNH | -290.904 | -290.904 |
HKDJPY | -11.880 | -15.980 |
MXNJPY | -8.316 | -12.912 |
NOKJPY | 0.225 | -3.108 |
NOKSEK | -0.121 | -9.587 |
NOKSGD | -51.972 | -51.972 |
NZDCAD | 0.521 | -6.329 |
NZDCHF | 3.994 | -7.612 |
NZDCNH | -412.791 | -352.791 |
NZDJPY | 9.420 | -15.254 |
NZDSGD | -14.024 | -23.024 |
NZDUSD | -1.635 | -1.309 |
PLNJPY | -3.320 | -3.320 |
SEKJPY | -0.259 | -2.264 |
SGDJPY | -2.547 | -20.617 |
TRYJPY | 2.890 | -8.583 |
USDAED | -4.062 | -4.062 |
USDCAD | 2.148 | -6.246 |
USDCHF | 3.741 | -9.872 |
USDCNH | -36.350 | -2.068 |
USDCZK | -20.993 | -20.993 |
USDDKK | -185.796 | -185.796 |
USDHKD | -55.617 | -88.950 |
USDHUF | -102.039 | -102.039 |
USDILS | -51.295 | -51.295 |
USDJPY | 9.952 | -24.586 |
USDMXN | -532.502 | 172.498 |
USDNOK | -47.399 | -59.699 |
USDPLN | -58.210 | -32.610 |
USDRUB | -211.365 | -211.365 |
USDSAR | -10.971 | -10.971 |
USDSEK | -38.498 | -155.488 |
USDSGD | -13.429 | -25.629 |
USDTHB | -304.368 | -304.368 |
USDTRY | -5689.465 | 2705.435 |
USDZAR | -243.845 | 100.955 |
XAGEUR | -4.391 | 1.193 |
XAGUSD | -5.500 | 2.904 |
XAUEUR | -41.002 | 5.185 |
XAUTRY | -15617.027 | 7888.990 |
XAUUSD | -40.173 | 14.165 |
XPDEUR | -2.628 | -10.202 |
XPDUSD | -6.759 | -6.759 |
XPTEUR | -15.121 | 1.030 |
XPTUSD | -19.701 | 4.859 |
Learn how to calculate overnight fees
If you trade forex of CFDs on a "spot" basis on MT4/5, most trades settle two business days (T+2 pairs) from inception - however some pairs (like USDCAD, USDRUB & USDTRY) are settled on a one business day basis (or ‘T+1’). All positions left open at 23:59 (server time) will be rolled over to a new value date – and as such are subject to the swap/rollover adjustments we listed above.
How do weekend rollovers work?
When you roll an open position from Wednesday to Thursday (T+2 pairs) on a trade date basis, Monday of the following week becomes the new value date (or ‘settlement date’), instead of Saturday. This means the swap/rollover adjustment on a Wednesday evening will be three times the value indicated in the table. The same occurs for a T+1 pair on a Thursday. This is to reflect how the value date of an FX position rolls in the underlying market.
Example 1: How to calculate CFD swaps
If the US30Roll swaps are -8.3 for long positions and 2.3 for short positions and you have traded 1 lot:
Long Charge for 1 day: -8.3 / 360 / 100 * 1 (Volume) * 38,000 (EOD Price) = -8.76 USD
Short Credit for 1 day: 2.3 / 360 / 100 * 1 (Volume) * 38,000 (EOD Price) = 2.42 USD
If your account is in another currency than the P/L currency, then the result needs to be converted to the account currency at the spot exchange rate of the two currencies.
Example 2: How to calculate FX swaps
If the EURUSD swaps are -6.83 for long positions and 2.96 for short positions and you have traded 1 lot (100,000 EUR):
Long Charge for 1 day: 1 * 100,000 * -6.93 * 0.00001 (Point Size*) = -6.93 USD
Short Credit for 1 day: 1 * 100,000 * 2.96 * 0.00001 (Point Size*) = 2.96 USD
If the USDJPY swaps are 11.94 for long positions and 26.21 for short positions and you have traded 1 lot (100,000 USD):
Long Credit for 1 day: 1 * 100,000 * 11.94 * 0.001 (Point Size*) = 1,194 JPY
Short Credit for 1 day: 1 * 100,000 * -26.21 * 0.001 (Point Size*) = -2,621 JPY
If your account is in another currency than the P/L currency, then the result needs to be converted to the account currency at the spot exchange rate of the two currencies.
*Point Size is the maximum number of decimals that each FX product is priced to. For example, EURUSD is priced 5dp therefore the point size is 0.00001. USDJPY is priced to 3 decimals therefore the Point Size is 0.001.
Example 3: Mid-week trading rollovers
If today is Monday & the EURUSD value date is Wednesday; then at 5pm NYT (21:00 GMT) Monday night the EURUSD’s value date will roll from Wednesday to Thursday (1 calendar day). In this example, the swap value is 10 MT4 points per day - which is quoted as ‘10’ in our rollover rates below - so the rate will be calculated is 10 (1 * 10).
Example 4: Weekend trading rollovers
If today is Wednesday & the EURUSD value date is Friday; then at 5 pm NY time (9 pm GMT) Wednesday night the EURUSD’s value date will roll from Friday to Monday (3 calendar days) as markets close and positions cannot be altered over the weekend. In this example, the swap value would be 30 MT4 points (10pts/day) - as even though it’s quoted as 10, the rate on Wednesday nights will be automatically calculated by MT4 as 30 (3*10).
Example 5: Rollovers during holidays
In the event of a holiday, the value dates roll in line with market convention.
If today is Wednesday, the EURUSD value date is Friday but there’s a holiday on Monday; then at 5 pm NY time (9 pm GMT) Wednesday night the EURUSD’s value date will roll from Friday to Tuesday (it can’t roll to Monday as Monday is a holiday) which is 4 calendar days. So in this example, the swap value is 40 MT4 points (10pts/day). We quote “13.33” as MT4 knows that on a Wednesday it will charge 3 times the value we input. 3 * 13.33 = 40.
Questions about Financing Fees
What do rollover costs mean?
The financing cost for your CFD trade is referred to as ‘rollover.' This is the interest paid depending on the size of the position and for holding a position at 23:59 server time (server time is New York time). For index CFDs, any dividend adjustments issued are included in the rollover amount as well.
The formula for financing cost is as follows:
Closing Price of the Index * the interest rate / 100 / Number of Days +/- Dividends * Trade Size.
Pay attention to open positions on Fridays. If you hold a position over the weekend, the rollover is 3 times as you’ll be unable to close a position until the markets open on Monday AM.
To avoid rollover charges, make sure to close any open positions before 23:59 server time (server time is New York time).
What is a ‘pip’?
A pip, short for ‘point in percentage’, is a very small measure of change in a currency pair in the forex market. It can be measured in terms of the quote or the underlying currency. A pip is a standardised unit for the smallest amount by which a currency quote can change. It is usually $0.0001 for USD-related currency pairs. A fractional pip or point is equivalent to 1/10 of a pip. There are 10 points to every 1 pip.
What is a trading ‘lot’?
The basic contract unit of the Retail Foreign Exchange is called a ‘lot’.
The standard lot size is 100,000 units of the base currency (1st currency in the currency pair), however you can also trade multiples or fractions of lots. The minimum at Equiti is 0.01 lot.
Example: Buying 1 lot on the GBP/USD market is the equivalent to buying £100,000 and selling the equivalent amount of USD at the current rate.
Lot Size | Units of base currency (First currency)
1 | 100,000
0.1 | 10,000
0.01 | 1,000
What is ‘leverage’ & how do I use it?
We offer leverage through the use of margins, where we provide borrowed funds from our deep liquidity pool to increase your trading position. This means traders can increase their market exposure by paying a fraction of the initial investment. In practice, 1:20 leverage means you can invest $10 and trade with $200 - allowing for higher potential gains AND losses. Make sure you understand your risk appetite. Try to minimise your losses by using stop loss tools or other risk management strategies.
We offer up to 1:500 leverage on selected products including precious metals, gold, oil & natural gas commodity CFDs.
What are CFDs & how do I trade them?
CFDs or ‘contracts for difference’ are derivative products designed so that you can trade on the price change of an underlying asset. This means you can trade on the price movements or performance of assets without needing to own them outright - which allows you to go long or short and potentially benefit from either rising or falling markets.
Trade commodity CFDs
You can also trade CFD indices such as the US500, UK100, AUS200, China50 & Sing30.
Trade index CFDs