January 22, 2018

Question:What is swap point (charge) and how can I check it on MT4 and MT5 platforms?


What is Swap point?

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.

Swap is the exchange “interest” or “premium” you are charged or earn on a daily basis for any trades carried (rollover) from day to day and some brokers are waiving this.

It will be based on the yield exchange rates between the base currencies (first listed) of the currency pair and the commodity currency (second listed) of the currency pair.

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Swap points are charged daily

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.

How to check the Swap point on MT4 platforms

You can check the swap point for each currency pair within MT4.

To check the latest swap point of each financial instrument, please follow the instruction below.

1. Right click in “Market Watch”, and select “Symbols”

Market watch right click

2. Select a symbol and click “Properties”

MT4 Properties

3. View the swap information

Symbol Properties

Swap points can change at anytime, and will be also updated on the platform.

To stay updated for the latest data, you may check as above steps or visit your broker’s official website for more information.

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Examples of Swap point charge

When you buy the EUR/USD pair, you are buying the euro, and selling the U.S. dollar to pay for it.

If the euro interest rate is 4.00%, and the U.S. rate is 2.25%, you are buying the currency with the higher interest rate, and you will earn rollover about 1.75% on an annual basis.

If you sell the EUR/USD pair, you are selling the currency with the higher interest rate, and you will pay rollover about 1.75% on an annual basis, since you are paying the euro interest rate and earning the U.S. interest rate.

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