Swap fees are the costs or credits for holding positions overnight. The calculation method depends on the type of instrument:

1. In Points (Forex / Metals / Commodities)

$$\text{Swap} = \text{Swap Rate} \times \text{Lot Size} \times \text{Contract Size} \times 1 \text{ Base Point} \times \text{Number of Nights}$$

Example:

• Short Position:

$$2.17 \times 1 \times 100,000 \times 0.00001 \times 1 = 2.17 \, \text{USD}$$

• Long Position:

$$-5.45 \times 1 \times 100,000 \times 0.00001 \times 1 = -5.45 \, \text{USD}$$

2. In Percentage (Shares)

$$\text{Swap} = \frac{\text{Swap Rate}}{100} \div 360 \times \text{EOD Price} \times \text{Lot Size} \times \text{Contract Size} \times \text{Number of Nights}$$

EOD Price = Previous trading day’s (Ask + Bid) / 2

Example:

• Short Position:

$$(-3.5/100) \div 360 \times 235.82 \times 1 \times 1 = -0.02 \, \text{USD}$$

• Long Position:

$$(-6.88/100) \div 360 \times 235.94 \times 1 \times 1 = -0.05 \, \text{USD}$$

3. In Currency (Indices)

$$\text{Swap} = \text{Swap Rate} \times \text{Lot Size} \times \text{Number of Nights} \times \text{Exchange Rate}$$

Example:

• Short Position:

$$1 \times 1 \times 1 = 1 \, \text{USD}$$

• Long Position:

$$-11.3195 \times 1 \times 1 = -11.32 \, \text{USD}$$

Note:

• Triple swap rates may apply on Wednesday or Friday for certain products to cover the weekend.
• You can always check the exact swap rates under “Specification” in the MT4 terminal.