When do you pay swap fees? | Forex Factory

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When do you pay swap fees?

  • #1
  • First Post: Mar 27, 2022 12:34pm Mar 27, 2022 12:34pm
I get that when you hold a position overnight (past the rollover time) that you're charged or given a swap.
But when does this swap fee actually occur? Does you're account get charged everyday at the exact time of the rollover?
Or does it come out like a commission or spread fee when you close the position?
  • #2
  • Mar 27, 2022 12:53pm Mar 27, 2022 12:53pm
You should ask your broker but if you're in the US it's usually around 5pm EST.
  • #3
  • Mar 28, 2022 12:13am Mar 28, 2022 12:13am
Quoting emmyidk
I get that when you hold a position overnight (past the rollover time) that you're charged or given a swap. But when does this swap fee actually occur? Does you're account get charged everyday at the exact time of the rollover? Or does it come out like a commission or spread fee when you close the position?
If you don't have huge position actually it seems to me that exact time doesn't matter. However keep in mind that on Wednesday there is triple swap (for weekends)
  • #4
  • Apr 25, 2022 1:25pm Apr 25, 2022 1:25pm
Every day at 00:00 server time.
  • #5
  • May 3, 2022 7:53am May 3, 2022 7:53am
As I know swap free is given for Muslim religion traders. But you can always ask your broker about the swap free status. Maybe it can be given to you because of the broker's rules.
I don't get one. And pay swaps if stayed open overnight.
  • #6
  • Jun 17, 2022 12:43am Jun 17, 2022 12:43am
Swap is charged at 00:00 terminal time as far as I know.
You can compare the time on your computer and in the terminal to see the difference.
  • #7
  • Jun 24, 2022 4:03pm Jun 24, 2022 4:03pm
It is true that, depending on the terms offered by the company, this may happen at different times.
Many people write that it doesn't matter exactly when it happens, in fact it does matter, especially if you favour short-term positions and you care about controlling multiple positions, margin and other things with limited capital.
So that you don't run into any complications later on, it's best to find out straight away - read up on the company's website or ask the support team.
In any way you like.
You have to understand and be able to use anything that may affect your capital and anything that may hinder you in any way.
  • #8
  • Jun 26, 2022 8:16pm Jun 26, 2022 8:16pm
There are several swap policies that vary from broker to broker and also based on the volume you make at this specific broker. You can make a deal with the broker on swap refund or even cut a deal that you don't even have to pay swap fee to begin with.
  • #9
  • Aug 17, 2022 3:16pm Aug 17, 2022 3:16pm
Actually, the swap fee is nothing special, it is quite a standard fee that any brokerage company has, the main thing is that it should always be something adequate in amount, and you can always choose the company that gives the best terms on this matter (although you realise that this is not the most important thing). The guys above me have written everything correctly, swap does get charged at 5pm, it's standard, but of course in some cases it can happen in a different scenario, in any case it's better to find out in advance so that you don't get any unpleasant surprises later. There has to be order in everything and especially in trading.
  • #10
  • Aug 17, 2022 6:29pm Aug 17, 2022 6:29pm
Quoting emmyidk
I get that when you hold a position overnight (past the rollover time) that you're charged or given a swap. But when does this swap fee actually occur? Does you're account get charged everyday at the exact time of the rollover? Or does it come out like a commission or spread fee when you close the position?
Why ask random strangers on the internet?

Go straight to your broker website; they probably have it right there in the FAQ

It takes a lot for me to IGNORE you, but you can try.
  • #11
  • Aug 19, 2022 10:39am Aug 19, 2022 10:39am
Midnight server time which of course will vary for everyone but for me that's 10pm BST at the moment
  • #12
  • Aug 21, 2022 11:29am Aug 21, 2022 11:29am
Quoting emmyidk
I get that when you hold a position overnight (past the rollover time) that you're charged or given a swap. But when does this swap fee actually occur? Does you're account get charged everyday at the exact time of the rollover? Or does it come out like a commission or spread fee when you close the position?

I see, you already have the answer! But personally I don’t like swap trading account; may I know why are you using the swap trading account?
  • #13
  • Aug 21, 2022 5:06pm Aug 21, 2022 5:06pm
Quoting jonstewart
{quote} I see, you already have the answer! But personally I don’t like swap trading account; may I know why are you using the swap trading account?
Just curious, how do you NOT use a swap trading account?

Please tell us the broker or procedure to avoid swaps.

Thanks
It takes a lot for me to IGNORE you, but you can try.
  • #14
  • Aug 22, 2022 4:23am Aug 22, 2022 4:23am
All the brokers I know always charges the swap fee when it ticks over 5pm NY time, and that could be different timezone for the broker you use. Most brokers use GMT+3 right now, which aligns with 5pm NY time
  • #15
  • Last Post: Aug 22, 2022 5:08am Aug 22, 2022 5:08am
Bear in mind you don't always pay for swap fees, sometimes the interest rate can be paid into your account.
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