What is behind the Rollover (carrying cost): Each day, interest is charged on open positions, typically at 5 PM ET. That interest is dependent upon the interest rate differential between the two currencies in a trading pair.
These rollover rates are charged each day, even if there is no trading or banks are not open. For example, rollover rates apply to weekends, which means that typically there are three days of rollovers that post on Wednesday.
Rollovers are also calculated on holidays, which can impact how much interest is paid or received. These amounts can be significant benefits or costs, and depending on the currency pair can account for multiple pips of profits or losses.
Notably, the interest that is paid by the lower yielding currency does not equal the interest that is received by the higher yielding currency, and there is the possibility that both sides of a trade will be charged interest. This is because of the bid-ask spread on overnight interest rate products.
Forex trading platforms typically have rollover rates easily accessible. For the rollover rate on the MetaTrader 5 Platform, follow these instructions:
1- In the ‘Market Watch’ window, right click (anywhere). 2- Select ‘Symbols’ and a new window should appear. 3- Find the specific symbol you are interested in and select it. 4- Click ‘Properties’ on the right. 5- Scroll down to ‘Swap Long’ and ‘Swap Short.’ Those are the current rollover rates.
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I’m a Trader with 17 years of experience in the most of Financial Markets ( Equities, Commodities , Forex). I have worked on integrated campaigns for major clients such as Al Horria brokerage, Venus International and Admiral Markets.
Until recently, I Trade in Only the International Markets industry. In this role I was focused on Trading and Portfolio Managing .Successes included creating a social expert to mange the accounts of my clients automatically decisions.
Colleagues know me as a highly creative Trader who can always be trusted to come up with a new techniques . But I know that the client’s business comes first, and I never try to impose my ideas on others. Instead, I spend a lot of time understanding and collecting data about the several markets I can work well alone, but I’m at my best collaborating with others.
I have a PhD from AIN SHAMS University and a Cfte1 from the International Federation of Technical Analysts IFTA.
