Estimating rollover cost?

Hello

How can I estimate the cost of keeping a position overnight

Martin

If you are using MT4 charts
Open the Market watch window
Right click anywhere on the market watch window
Click on "symbols" in the new pop up window.
Select the currency pair or instrument that you are interested in and then click on "properties"
You will then see the new window with the contract specification for your selected instrument

With my broker EURUSD is currently showing overnight swap as -1.61 for a long position and -0.61 for a short.
For this it is shown in points (pips), with others, eg Gold, it may be shown in $.


Remember that with spot forex, you will be charged 3 days swap for positions held on wednesdays and only 1 day over the weekend. Not certain that it is the same with all brokers and all instruments
It is probably best to do a little experimenting on a demo account to be sure.

Thanks Gumrai

My broker is IB. I don't see that information. Could be somwhere, just did not find it yet

Martin

You should email their helpdesk and ask about info re swap costs.
Otherwise, open a demo account with the same broker and same platform, place any old trades and leave overnight and you will be able to work out the rollover costs. Make sure that you leave the trades open for 7 days, so that you can be sure about the triple charge on wednesdays (or not)

I have 2 accounts:
First broker is -1.57 long and 0.0 short
Second broker is -1.3 long and 0.3 short

Both EURUSD

belva