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TICKMILL: When are swaps charged at a triple rate for currency pairs and metals?
Source:https://www.tickmill.com/about/faq/category/account-information | Author:finance-102 | Date2023-02-22 | 249 Views | Share:
Triple swap charges apply for positions on FX pairs, Silver and Gold that are held overnight on Wednesday. For the rest of the instruments, triple swap charges apply for positions that are held overnight on Friday. This is a standard practice in the forex industry. These swaps cover the interest for Saturday and Sunday when the markets are closed. All swaps are calculated based on the quote currency. Example: If you open a long position of 1 lot on EURAUD, the overnight swap charge would be -14.11 Australian Dollars. If you had opened the same position on a Wednesday and roll over the position to the next day, the swap would be -14.11 * 3. If the account currency is in USD, then we have to convert the amount above to USD by using AUDUSD spot rate.

Triple swap charges apply for positions on FX pairs, Silver and Gold that are held overnight on Wednesday. For the rest of the instruments, triple swap charges apply for positions that are held overnight on Friday. This is a standard practice in the forex industry. These swaps cover the interest for Saturday and Sunday when the markets are closed. All swaps are calculated based on the quote currency. Example: If you open a long position of 1 lot on EURAUD, the overnight swap charge would be -14.11 Australian Dollars. If you had opened the same position on a Wednesday and roll over the position to the next day, the swap would be -14.11 * 3. If the account currency is in USD, then we have to convert the amount above to USD by using AUDUSD spot rate.

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