What is a SWAP?
Swap fee (Swap rollover) is the interest rate differential between the two currencies of the pair that you are trading. The swap fee is charged for positions kept overnight. The value of swap is calculated according to whether your position is long or short.
The details to the swap charges can be found here.
🧑💻 PRO Tip: You can also calculate your swaps in our Swaps Calculator.
Why does NAGA charge Swaps?
NAGA (as any other brokerage company) charges swaps because the positions you trade actively overnight are not settled daily. This means open positions are rolled over daily till you decide to close the positions. Therefore NAGA charges a FX pair interest rate differentials in order to reflect the cost of rolling position over to the new day.
When do we charge Swaps?
Swaps are being charged daily and on Fridays triple.
The swaps are applied on:
🔵 Wednesday for FX / Metals / Spot Oil Commodities / Rolling Futures
🔵 Friday for Crypto Currencies / CFDs on Stocks
🔵 No Swaps for Expiration Futures
🔵 The charges happen daily at midnight for the past trading day.
🔵 After Friday midnight the triple charge applies which covers the upcoming weekend.
Where can I find my Swap charges for each trade?
The MT4 and MT5 apps or terminal unfortunately do not show the exact swaps for each closed or active position. So the up to date swap fees can be found here.
🔵 In your transaction history, you will see transparently every single swap fee charge displayed: