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When do you pay swap fees?

  • Post #1
  • Quote
  • First Post: Mar 27, 2022 1:34pm Mar 27, 2022 1:34pm
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?
You should ask your broker but if you're in the US it's usually around 5pm EST.
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)
Every day at 00:00 server time.
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.
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.
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.
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.
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.
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

Maximize wins, minimize loss, stay in the game as long as you can
Midnight server time which of course will vary for everyone but for me that's 10pm BST at the moment
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?
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
Maximize wins, minimize loss, stay in the game as long as you can
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
  • Post #15
  • Quote
  • Last Post: Aug 22, 2022 6:08am Aug 22, 2022 6:08am
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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