Swap (also known as rollover swap) is a procedure of moving open positions from one trading day to another. If a trader extends his position beyond one day, he/she will be dealing with a cost or gain, depending on the prevailing interest rates.

Every central bank sets interest rate and these rates may significantly differ. For example, imagine that the New Zealand dollar had a higher interest rate than the US dollar. If you were to buy NZD/USD, you would earn the interest difference between the NZD and the USD or so-called swap on your position every day you held that trade overnight. However, if you sold NZD/USD, you would pay the swap for your position every day you held that trade overnight.

You can look up NAGA swaps long and short here.
Your NAGA  account automatically calculates the swap overnight.

Detailed information about the accumulated swap on an open position can be found if you check the trade details.

For Wednesday to Thursday rollover, the swap is deducted/added in a triple size (for Wednesday, Saturday and Sunday), In Equities, Index, and ETFs the triple swap is on Friday.

For Forex, the Swap works as follows - (Swap rate/10)*value of pip*days keeping the position open.

  • Example - If you open 0.10 of volume in EUR/USD, the swap rate for long positions is -10.14 points. If you keep the position open 5 days, your swap is $5.07= (-10.14/10)*1*5)

For Equities, the Swap works as follows - (Swap rate/1000)*volume*days keeping the position open. Take into consideration that you have to divide the swap rate between 10, 100 or 1000 depending on the number of decimals of the price quotation. 

  • Example - If you open 10 CFDs of Bayer AG, the swap rate for long positions is -4.13 points. If you keep the position open 5 days, your swap is 0.20€= (-4.13/1000)*10*5)

For Index, the Swap works as follows - (Swap rate/10)*value of the point*days keeping the position open. Take into consideration that you have to divide the swap rate between 10, 100 or 1000 depending on the number of decimals of the price quotation.

  • Example - If you open 1 of volume in SPX500, the swap rate for long positions is -3.79 points. If you keep the position open 5 days, your swap is $1.89= (-3.79/10)*1*5).


We hope this guide was helpful. Read more articles in the Help Center. If you still have questions contact Support Center directly via [email protected] 

Did this answer your question?