What is a swap and how to access it?
A swap/rollover rate is applied when a client keeps the position open overnight (post 00:00 server time). A forex swap rate is the interest rate differential between the two currencies involved in the pair traded, and it is calculated according to whether the position is long or short.
Swap rates can simply be accessed from within the MetaTrader 4 or MetaTrader 5 platform by going to the 'Market Watch' window, right-clicking on the instrument, and then selecting the 'Specifications'.
A new window will open with the swap rates displayed:
When trading spot Foreign Exchange (Forex trading), all Forex trades will settle two business days from the date of entry, as per market convention. As such, every Wednesday there is a triple swap charged (3-day swap) due to the charges applicable for the weekends. Cash Indices and Commodities will settle at the end of each business day (server time 0:00), hence the triple swap rate is charged on Friday.