A swap rate in currencies is simply an overnight finance cost that is either received or paid on positions held overnight.
They are calculated by our prime broker and liquidity providers and based on current market conditions and risk analysis. The swap rate paid/received is heavily influenced by the underlying interest rate between the two currency pairs. It is worth noting that Fusion Markets does not have any control over these rates.
On particularly volatile currency pairs, swap rates can change very quickly depending on market conditions so be sure to check these before you enter your trade.
To see the swap charges for a currency position, log in to your MT4 platform and use the following steps:
Right-click on a pair in the ‘Market Watch’ panel
Select ‘Symbols’, choose the symbol you wish to view then select ‘Specifications.’
The features of the currency pair, including the relevant swap rates, will be displayed