A forex swap is the interest rate differential between the two currency pairs you trade. The value is calculated according to whether your position is long or short. The swap charge is applied should you hold the position at the daily rollover point. This happens at 00:00 server time and is known in forex trading as ‘tomorrow next’ or ‘tom next.’
If you hold the position at the daily rollover point, you will be charged the overnight rate.
When are the swaps calculated?
Updated over 10 months ago