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