Yes, overnight interest rates (swaps) are still applied to open positions even when the market is closed. Here's what you need to know about swap charges during non-trading days:
Standard Swap Application Policy:
Open positions will incur overnight interest charges according to our standard interest rate schedule, regardless of whether the market is open or closed the following day.
For most instruments, swap charges are applied at the end of each trading day (around midnight platform time).
Triple Swap Charges:
To account for weekends and holidays when positions are held but markets are closed, we apply triple swap charges on specific days:
For FX Products: Triple swap charges are applied on Wednesday night to account for the weekend.
For Other Instruments: Triple swap charges are applied on Friday night.
This policy ensures that interest calculations remain fair and consistent, accounting for the days when markets are closed but positions remain open.
What This Means For You:
If you hold positions overnight before a market closure (such as a holiday or weekend), you should factor these swap charges into your trading strategy and cost calculations. The charges will appear in your account history as usual.
For specific information about swap rates for individual instruments, you can check the contract specifications in your trading platform as described in our guide on viewing swap rates.
For additional questions about overnight interest rates during market closures, please contact our Live Chat support team through your Client Portal.