Excessive rollover rate just charged by my broker

I just received today's statement my position trade I've been holding short on USDJPY at Forex.com the last several days. The rollover rate I was charged for holding this position was substantially higher than usual and higher than the rate they have posted on their site right now.

To hold this USDJPY short position Forex.com charged me at a rate of -$20.32 per 10k but their website says the current rate for said position is -0.55 per 10k. That's a huge difference. It amounts to being charged around 10x the normal rollover fee I pay for holding this position. That simply doesn't seem right or fair.

My phone call and chat with them revealed that they claim to have no control over this and this simply represents a once-a-year (usually end-of-year) adjustment from some/all/one of their banks. They repeatedly said that's all the information they have and they can't do anything about it and that virtually all of their recent support calls have been about this issue.

Have others run into this either with Forex.com or other brokers?

Attached are images showing my statement from today as well as the rollover rates posted at Forex.com.

I've had 6 open positions for over a week and my rates didn't change. But I am with Oanda. Sounds pretty lame to me

To be clear meepstone you have 6 USDJPY short positions or something else with Oanda? Thanks for chiming in.

Its most likely the brokers bank and with end of year volatility. Closing positions prior to Christmas and waiting for the new years is always the way to go.

TO risky, christmas-2 days after new years is always a crazy market.

TOY in play cause everyone is closing book. no rollover should be collected from you till 3rd jan. that is if ur position is still open

Forex.com claims to post it's rollover/swap rates in their "trading platforms" however they DO NOT post them within the MT4 platform contract specifications area as commonly posted by other broker's MT4 application.

That, along with the fact that Forex.com's posted rate on their website DOES NOT conform with the actual amount of swap/rollover they charge clearly shows that they are not practicing what they preach, or in other words, they are making false representations.

Here is my letter to [email protected] on this issue:

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For holding a USDJPY position you charged -$20.32 for -130k USDJPY short ($233.02 deducted from my account). However, on your site at https://www.forex.com/en-us/why-us/w...ollover-rates# it states that the day's rollover rate for USD/JPY short was -0.55. This amounts to a charge of over 10x the normal rollover amount for holding this position.

Furthermore, you advertise your services as providing “competitive rollover rates” however a number of other brokers (including Oanda) did NOT markup their rollover rate by the excessive amount in which you charged.

Furthermore, your website FAQ on rollover rates states that “You can also access our rollover rates direct from our trading platform.” As it pertains to your MT4 trading platform this is FALSE. When selecting the contract specifications for said platform the swap/rollover rates are NOT displayed as is customarily found at other brokers (see screen shots below).

Accordingly, it seems clear to me that Forex.com is:
- hiding it’s true rollover rates and
- not publishing them the way it claims and
- applying a significantly different rollover rate on accounts vs the rate published on its website and
- falsely advertising “competitive rollover rates” when it charges over 10x the normal rate in this instance (when other brokers have NOT charged such an excessive amount)

Before I contact the appropriate U.S. regulatory authorities I want a response from a supervisor aware of this issue and a response on how Forex.com intends to rectify this issue. I will only accept a response from you in writing and will record and phone calls regarding this issue.

I suffered the same. At the end of 12/27/17 was charged with -$81.85 for a 50K long EUR/USD.
Ridiculous. When I called, the same answer you got.
Apparently they have the money and can do whatever they want.

It looks like they're paying Forex Factory with they money they took from you to change thread tittles

You should get a lawyer and sue. Or file a compliant with the regulating body which governs forex. com

Weird. I held GU over New Year's and got charged the usual swap.

You should check out yunben's story here: https://www.forexfactory.com/showthread.php?p=9262649
FOREX.COM are total crooks. They stole 20k from yunben, then when he complained about it, Forex factory changed the thread, made him a commercial member (even though he does no commercial activities) just so they could hide the thread away from the broker section.

I know.I posted the same thing on that topic

Forex.com is a bucket shop.

Note: After weeks of waiting I finally received an "official" response from my written support inquiry on this topic indicating that they won't do anything about this. Accordingly, the matter has now been forwarded to their legal department.