A swap is the difference between the overnight interest of the two currencies involved in a pair, and it depends on whether the position is a buy long or sell short.
Swaps are applied to your trading account during the rollover time only when your positions are kept open until the next forex trading day.
If you have open positions on Wednesday and carry them over to the next day, the swaps are charged at triple rates due to the settlement of trades through the weekend period.
You can check the swap point for each currency pair within MT4:
- Right click on Market Watch and choose Symbols.
- Click on the currency pair you wish to check the swap for and click Properties.
- Check Swap Long and Swap Short on the Contract Specification window.