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January 25, 2022

How to calculate Swap Points (Charges) on Exness?

How to manage and calculate interest swap on exness? Main characteristics of the swap interest applied by exness.

How-to-manage-and-calculate-interest-swap-on-exness-Main-characteristics-of-the-swap-interest-applied-by-exness. How-to-manage-and-calculate-interest-swap-on-exness-Main-characteristics-of-the-swap-interest-applied-by-exness.

Numerous benefits with zero swap on cryptocurrencies, stocks and indices with exness.

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What are swaps?

Swap contracts belong to the category of derivatives, i.e. contracts that focus on exchanges of financial flows of opposite sign and deriving from a specific asset.

The swap is precisely a type of contract by which two counterparties undertake to exchange sums of money (usually referring to the difference between the latter) based on the main characteristics of the contract that will determine its subsequent placement among the various types of swap contracts.

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Interest on swap applied with exness

The interest charged on swaps is calculated on any position left open overnight for the next trading day and will be credited or debited to trader exness accounts at 22:00 GMT + 0 each day until the client decides to close the position.

Day Time Swap size
Monday 22:00 GMT + 0 Standard
Tuesday 22:00 GMT + 0 Standard
Wednesday 22:00 GMT + 0 Tripled
Thursday 22:00 GMT + 0 Standard
Friday 22:00 GMT + 0 Standard
Saturday Not applied Not applied
Sunday Not applied Not applied

It is important to note the following.

  1. The wap interest charges take place every day except for weekends, a period during which trading is not available as the markets are closed.
  2. The closing of the markets on weekends is the reason why the amount of interest charged is tripled on Wednesdays in order to offset the following weekend.
  3. For the “Energies” instrument, the tripled interest is calculated on Friday.
  4. Exenss does not charge any swap interest on cryptocurrencies, stocks and indices instruments.
  5. The wap interest varies according to the open position, whether it is for sale or purchase, the swap interest charged can be short (swap short) or long (swap long).
  6. Swap interest can turn out to be both negative and positive.

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Swap interest on MT4 exness

All exness traders who use the renowned MT4 as a trading platform will be able to know the amount of swap interest at any time by following the next simple steps.

  1. The client will need to log into the MT4 platform using their exness trading account.
  2. Proceed to open the trading tab.
  3. You will be able to see the swap interest amount in the column immediately to the left of Profit.

It is important to know that the procedure described above for viewing swap interests is not available for the MT5 platform.

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Calculate swap interest

To be able to accurately calculate a swap interest on a particular position that you have decided to open, just follow the next steps carefully.

The formula for calculating interest on swaps is Lots x Contract Size × Pips × Short or Long Swap × Total Days.

Suppose, for example, that a trader holding a Standard account with exness has decided to open a buy position of 1 lot EURUSDm on Tuesday at 15:00 (server time) and subsequently closed on Thursday at 23:00

Negotiated lots.
The trader has decided to open a buy position of 1 lot EURUSDm.
Contract size
A standard size of a hypothetical contract applied to most of the Forex trading instruments available is equivalent to 100,000 units of the base currency, which in this specific case is EURUSD, where precisely EUR represents the base currency and consequently the contract size is EUR 100,000.
Pip size.
The pip size for the majority of Forex trading instruments available for trading is 0.0001 and in this case the EURUSD is no exception to the rule.
Swap long / short.
Assuming a buy position to proceed with the calculations it will be necessary to use a long Swap interest rate with contract specifications -0.86852.
Total days.
The position was held open continuously for three days, Tuesday to Wednesday, Wednesday to Thursday and Thursday to Friday, except Wednesday where swaps charged are tripled, a single swap is calculated on the remaining days of the week, consequently the total of the swaps charged will amount to 5 days.

Having just assumed the figures necessary for the calculation, it will be possible to insert them into the formula and derive the total amount of swap interest to be deducted.

  1. Swap Interest = Lots x Contract Size × Pips × Short or Long Swap × Total Days.
  2. Swap Interest = 1 x 100,000 x 0.0001 x (-0.86852) x 5 = -44.42 USD.

In the event that any trader does not intend to calculate swap interest, he can use the “Trader calculator” service offered by exness which will automatically calculate the swap interest amounts on orders.

Go to EXNESS’s Official Website

Swap-free account

For clients of Islamic faith who observe the Sharia exness, it has created special Swap-Free accounts, through which no swap interest will be credited or debited to the accounts of Islamic traders.

To meet this need, exness has created an automated system capable of identifying with extreme precision which customers have a residence in countries where the Islamic religion is more widespread and catalogs their accounts under the “swap-free” category.

The accounts offered by exness to which the zero swap option can be applied are Raw Spread, Zero Swapless, Standard Cent, Standard Pro.

It should be noted that in the event that a trader not belonging to the Islamic faith is discovered as a holder of a swap-free account, exness will have the right to cancel the swap-free option present in the client’s account by re-establishing the swap charges that will be applied both on the open orders and orders that will be opened in the future.

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