Swaps and financing charges
At the end of each trading day (22:00 UK time), positions held in your account may be subject to a charge called a swap or financing charge. The holding cost can be positive or negative, depending on the direction of your trade and the applicable rate. Please be aware that positions held overnight may be subject to three days of swap charges on Wednesdays and Fridays, depending on the product you trade and the platform you use.
How is the swap and financing charge calculated?
The daily swap and financing charges calculated based on the following formula
|MT4 CFDs||Swaps by points = volume x long or short in points||Swaps as percentage = volume x contract size x open price x (long or short in points/100/360)|
|MT4 Spreadbet||Swaps by points = volume x long or short in points/10||Swaps as percentage = volume x contract size x open price x (long or short in points/100/360)|
|SmartCharts 2||Financing = Quantity x Financing Long or Short x last mid-price print at 21:59:45 UK time x Number of Days||Financing = Quantity x Financing Long or Short x last mid-price print at 21:59:45 UK time x Number of Days|
How much do I get charged?
The exact charge is based on the underlying rates charged by our liquidity providers plus a mark-up for long positions and mark-down for short positions in accordance with the table below:
|Asset||MetaTrader 4||SmartCharts 2|
|Major FX||+/- 2.0%||+/- 2.5%|
|Minor FX (excl. TRY pairs)||+/- 2.0%||+/- 3.5%|
|TRY pairs||+/- 2.0%||+15%/-25%|
|Indices||+/- 3.5%||+/- 3.5%|
|Commodities||+/- 3.5%||+/- 3.5%|
For an overview of the charges per instrument please refer to the contract specifications in MetaTrader 4 or download the SmartCharts 2 charges below.