The rollover rate in forex is the net interest return on a currency position held overnight by a trader. That is, when trading currencies, an investor borrows one currency to buy another. The interest paid, or earned, for holding the position overnight is called the rollover rate. (it’s called a “Swap” on MT4) A currency position that’s open after 5 p.m. EST will be held overnight.
We’re sorry. Unfortunately, you cannot trade over a rollover because we, as the broker, deliberately restrict trading for around 3 minutes around this time of the day. As the underlying markets’ trading desks shift from New York to Asia, Forex is often very illiquid at this time, and as a result, we often see spreads widen (i.e. prices are not as competitive). This can cause our clients to be stopped/closed out prematurely on their trades. Essentially, we do this to protect our clients and to allow the system to process swaps at the same time.
I hope the above information answered your question. If you need more assistance, feel free to contact us.
UPDATE: The daily swap rates come through quite close to the market close/applying of swaps so we are not in a position to send this to clients in advance.