October 10, 2019

HYCM, Changes of cut off time and the three day rollover fee

Amendment to daily Rollover Fees (swap or overnight financing) calculations procedures.

swap-point-daily-roll-over-free-overnight-financing-mt4-hycm swap-point-daily-roll-over-free-overnight-financing-mt4-hycm

Please note the following changes to HYCM’s daily rollover fees calculation procedures which become effective on Monday, 21st October 2019:

1. Change of Cut off time

Cut off time for all daily rollover fees calculations will be changed from 16.00 ET/Eastern Time (20.00 GMT summer time/21.00 GMT winter time) to 17.00 ET/Eastern Time (21.00 GMT summer time/22.00 GMT winter time).

If any positions remain open at 17.00 ET/Eastern Time then relevant rollover fees will be applied to those positions.

2. A three day rollover fee

A three day rollover fee will be applied to all Spot Forex and Bullion on Wednesdays, with the exception of USDCAD (US Dollar vs Canadian Dollar), USDRUB (US Dollar vs Russian Rouble) and USDTRY (US Dollar vs Turkish Lira) where a three day rollover fee will be applied on Thursdays.

A three day rollover fee will continue to be applied to all other CFD’s on Fridays.

Note: ET (Eastern Time) means New York time which is GMT -5 hours during standard time (winter) and GMT -4 hours during daylight saving time (summer).

Visit HYCM Official Website

How to calculate Swaps (Overnight Financing Charges)?

The calculation of Swap Points is made as follows:

Interest rate (%) x Contract value (contract value is equal to daily close price multiplied by contract size) / 360 = Overnight finance fee

Please note that the swap amount may be debited or credited to your account depending on the interest rate value of the traded product.

Final amount will be converted to your account base currency if it is not USD.

Example: EURUSD pair has 1.25 % interest value for the short (SELL) trades, keeping open trades overnight will have positive swap and your account will be credited according to your trade size.Lets consider you have opened 1 lot EURUSD sell trade and kept it overnight and closing price when the day changed was 1.1450. 1.25 % x (100.000 * 1.1450) / 360 = 3.98 $ credit per night

For more about the changes and the swap calculation, please contact HYCM multilingual support team from the Official Website.

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