In simple terms Forex Rollover or otherwise known as swaps is the interest paid to you or paid by you for holding a position overnight. Each world currency has an interest rate connected to it. So this means that when a position is left open till the next day, it attracts interests irrespective of when it was opened. This should not be an issue for short-term traders and scalpers, but for long term traders it is definitely an issue.
Effects of Negative Swap Rate - Rollover |
Effects of Positive Swap Rate - Rollover |
Rollover (Swap) Rates
See below a detailed swap rate list for currency pairs. The list is derived from HotForex Broker. The values might not be the same for other brokers.
NB
Swaps are valued in
pips/lots, and may be adjusted daily based on market conditions, and rates
provided by Liquidity Providers applicable to all open positions.
Some brokers double or triple their swaps on certain day(s) of the week. For example HotForex applies Triple Swaps on Wednesday of each week.
So when choosing a broker consider their swap rate. Wish you a successful trading.
FXTradeCity Recommends HotForex Broker - Click here to find out why....
Image "Money Exchange Between Dollar And Euro" courtesy of tungphoto / FreeDigitalPhotos.net
So when choosing a broker consider their swap rate. Wish you a successful trading.
FXTradeCity Recommends HotForex Broker - Click here to find out why....
Image "Money Exchange Between Dollar And Euro" courtesy of tungphoto / FreeDigitalPhotos.net
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