When holding positions overnight, traders may incur or earn swap fees. These overnight interest rates vary by instrument and direction of trade. Here's how to check these rates in your trading platforms:
In MT4 Platform:
Log in to your MT4 account
Locate the "Market Watch" panel (usually on the left side of your screen)
Right-click on the instrument you want to check
Select "Specifications" from the dropdown menu
A new window will appear showing the contract specifications
Scroll down to find the "Swap Long" and "Swap Short" values
"Swap Long" shows the overnight interest rate for buy positions
"Swap Short" shows the overnight interest rate for sell positions
In MT5 Platform:
Log in to your MT5 account
Find the "Market Watch" window
Right-click on your desired instrument
Choose "Specification" from the context menu
In the specifications window, locate the "Swap Long" and "Swap Short" fields
These values represent the overnight interest rates for long and short positions respectively
Understanding Swap Values:
Positive values indicate you will receive interest
Negative values indicate you will pay interest
Swaps are typically charged at midnight platform time
On Wednesdays, triple swap charges often apply to account for the weekend
Remember that swap rates may change based on market conditions and your broker's policies. It's important to check these values before holding positions overnight, especially for longer-term trades.
For more detailed information about how swaps are calculated or applied to your account, please contact our Live Chat support team through your Client Portal.