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Which broker offers highest swap rates?

  • #21
  • Feb 14, 2013 8:10am Feb 14, 2013 8:10am
Can somebody tell me what is the difference in swap calculation formula for MT4 Swap type in points VS Swap type in the margin currency?
Keep It Simple
  • #22
  • Feb 14, 2013 10:46am Feb 14, 2013 10:46am
Quoting kis

+something interesting: some brokers pay/charge triple SWAP on specific days of the week
All brokers do, usually on wednesdays (except swap-free accounts of course)

Quoting kis
Can somebody tell me what is the difference in swap calculation formula for MT4 Swap type in points VS Swap type in the margin currency?
Swap in points is listed in terms of the quote-currency (second currency in any pair) while swap in margin currency is listed in terms of account-currency.

For example, let's say you want to short GBPNZD & the short-swap in points is 9.2........1 pip = 10 points so it would be 0.92 pips a day.......as you might know, with every pip-move in any pair, we earn in the second currency (quote-currency) so we'd be earning/losing 1 NZD for every pip move up/down in GBPNZD.......& the swap is 0.92 pips so if you were holding a standard lot of GBPNZD then pip-move would be 10 NZD & swap would be 10 x 0.92 = 9.2 NZD (0.92 NZD for minilot, 0.09 for microlot & so on).......now, if you want to convert NZD into USD then 1/0.8500 (USD divided by NZDUSD) = 1.17647.....then 9.2/1.17647 = 7.82 USD
Fortunately, many brokers offer calculators on their websites to do this, you just have to choose the pair, lot-size & currency

On the other hand, if swap is in margin currency then it will be given in whatever the account-currency is, there's no need to calculate & convert separately for every pair........so let's say your account-currency is USD & the swap is listed in margin-currency then as per above example, short-swap for GBPNZD will be directly shown as 0.782 points (if the is in Euro or Pound or whatever then direct values will be listed accordingly)
  • #23
  • Feb 14, 2013 11:14am Feb 14, 2013 11:14am
Thanks, but I'm still bit confused... Actually I want to compare SWAPs from different brokers, and some of them SWAPs in "In the symbol base currency" others, in "In the margin currency", others "By interest", others "In points".

For example: EUR/USD SWAP LONG

In the margin currency0.35 broker 1
By interest0.30 broker 2
In points0.29 broker 3
In the symbol base currency0.59broker 4

So, how to convert it to see all "In points"?
Keep It Simple
  • #24
  • Feb 14, 2013 12:54pm Feb 14, 2013 12:54pm
Quoting kis
Thanks, but I'm still bit confused... Actually I want to compare SWAPs from different brokers, and some of them SWAPs in "In the symbol base currency" others, in "In the margin currency", others "By interest", others "In points".

For example: EUR/USD SWAP LONG

In the margin currency0.35 broker 1
By interest0.30 broker 2
In points0.29 broker 3
In the symbol base currency0.59broker 4

So, how to convert it to see all "In points"?
In points doesn't mean anything by itself, points of what? USD? EUR? GBP? What?

1) This depends on what margin-currency is, if USD is the account-currency then it would $3.5/standard-lot, if EUR is the account-currency then it could be 3.5Euros/standard-lot, if GBP is account-currency then it could be 3.5Pounds/standard-lot & so on
2) I don't know what "by interest" really means since all swaps are based on interest anyway.......so in case of EURUSD, it could be 0.30% on total size, so for a standard-lot of EURUSD right now - $133000 x 0.30 = $400......per day would be 400/360 = $1.1......but again, I'm not sure so confirm with your broker
3) In points usually just means "in points of quote-currency" so again, in case of EURUSD, USD is the quote currency so $2.9 per standard-lot ($0.29/minilot, $0.029/microlot)
4) In case of EURUSD, EUR is the base-currency so 5.9 Euros.....

I don't know why you want them "in points", I mean wouldn't it be practical to know how many dollars/euros/pounds/whatever you're going to receive/pay???? So why not convert them all into a single currency of your choice rather than points?

I used to do positional but now I mostly do swing & scalp trading so don't bother about swaps anymore, hence my knowledge about swaps has gotten a little rusty........if you have already short-listed a few brokers then why not just ask their live-support about how their swap-calculations are done?
  • #25
  • Feb 14, 2013 4:18pm Feb 14, 2013 4:18pm
Quoting r41225
In points doesn't mean anything by itself, points of what? USD? EUR? GBP? What?

1) This depends on what margin-currency is, if USD is the account-currency then it would $3.5/standard-lot, if EUR is the account-currency then it could be 3.5Euros/standard-lot, if GBP is account-currency then it could be 3.5Pounds/standard-lot & so on
2) I don't know what "by interest" really means since all swaps are based on interest anyway.......so in case of EURUSD, it could be 0.30% on total size, so for a standard-lot of EURUSD right now - $133000 x 0.30...
I'm talking about MT4 brokers, and the info you can find in market watch window>symbols>symbol properties> swap type, or/and what info you can get with MQL4 MarketInfo function, MODE_SWAPTYPE26Swap calculation method. 0 - in points; 1 - in the symbol base currency; 2 - by interest; 3 - in the margin currency.

In order to compare swaps from different brokers, it's easy to create an EA and list SWAP. But different brokers have different swap calculation method, and EA will list swap type as: 0 - in points; 1 - in the symbol base currency; 2 - by interest; 3 - in the margin currency.

One of the attached pictures is a SWAP comparison table, but it is not accurate because of different swap calculation methods. I don't necessarily want all of them in points, I just want to know how to convert one to other... I thought there is some simple formula to do that... but I can't find.
Attached Image (click to enlarge)
Click to Enlarge Name: swaptable.JPG Size: 71 KB
Attached Image
Keep It Simple
  • #26
  • Feb 16, 2013 11:10am Feb 16, 2013 11:10am
Quoting pip_bagger
Hello-

I am interested in re-visiting this thread.

Can anyone recommend a broker who pays exceptionally well?

I know FXCM is meant to pay well, and Saxo, and Oanda pays by the second, but which broker pays the most?


-PB

On myfxbook I found un updated list of forex-broker-swaps and there are some brokers that pays very well.
See the attachments
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I feel good!
  • #27
  • Oct 15, 2013 1:57am Oct 15, 2013 1:57am
Here is a list of swaps that are updated daily on Forexchurch http://www.forexchurch.com/forex-broker-swap.cfm
  • #28
  • Feb 7, 2014 9:53am Feb 7, 2014 9:53am
Some clarification:
If you look at a symbol properties window in MT4, then you may see the swap in points.

One point in MT4 is at the decimal place that you see mentioned in the same window - or, if you open a chart window, the last decimal that you see on the right side of the window.
For most pairs this is 5 (1 point = 0.00001, 1 pip = 0.0001), for ...JPY pairs this is usually 3 (1 point = 0.001, 1 pip = 0.01).

Another swap comparison: http://www.myfxbook.com/forex-broker-swaps
--I'm a demo newbie, please be cautious.
  • #29
  • Dec 31, 2015 4:01am Dec 31, 2015 4:01am
This forum wil not allow me to start a thread to ask about swaps, because I'm a Junior Member. So I'd like to ask here.

I have 2x GBP/USD positions open - yesterday night swaps for these were at -£4.xx and -£2.xx

However, today i noticed that the swaps are at -£18.xx and -£16.xx

I'm in UK using an ECN UK broker and I called them, but the rep over the phone could not explain exactly why the swaps went up by so much over night other then "it is the banks, it's not us, it is a end of the year one off ... blah ... blah". He promised to come back to me with exact answer.

But the fact that the swaps went up by so much is not great as this could happen again. Should I complain to Financial Conduct Authority or can the swap increase explained and is genuine, rahter than the broker trying to scam me?
  • #30
  • Dec 31, 2015 10:17am Dec 31, 2015 10:17am
Quoting shnackattack
This forum wil not allow me to start a thread to ask about swaps, because I'm a Junior Member. So I'd like to ask here. I have 2x GBP/USD positions open - yesterday night swaps for these were at -4.xx and -2.xx However, today i noticed that the swaps are at -18.xx and -16.xx I'm in UK using an ECN UK broker and I called them, but the rep over the phone could not explain exactly why the swaps went up by so much over night other then "it is the banks, it's not us, it is a end of the year one off ... blah ... blah". He promised to come back to me with...
Maybe it is because Wednesday usually is tripple swap day to account for the weekend. Brokers usually only calculate swap once from Friday to Sunday to even this out the swap from Wednesday to Thursday is tripled. Spot is based upon a 2 day settlement so it makes sense

Quote
But the fact that the swaps went up by so much is not great as this could happen again. Should I complain to Financial Conduct Authority or can the swap increase explained and is genuine, rather than the broker trying to scam me?
The retail trader usually never has to hand in a complaint with the FCA. There are so many people accusing their brokers of cheating or unlawful behavior but please educate yourself before making any allegations.
  • #31
  • Dec 31, 2015 10:45am Dec 31, 2015 10:45am
most brokers have stopped offering positive swaps..and they are taking the cash into their pockets..

back in the day.. ZAR and MXN had the highest swap rates... huge positive swaps...
practising coitus interruptus
  • #33
  • Aug 5, 2016 10:22pm Aug 5, 2016 10:22pm
Anyone know any Brokers where Selling the AUDNZD gives positive swap?
  • #34
  • Apr 21, 2019 5:13pm Apr 21, 2019 5:13pm
Quoting avibe
most brokers have stopped offering positive swaps..and they are taking the cash into their pockets.. back in the day.. ZAR and MXN had the highest swap rates... huge positive swaps...
who you work for FNN?

Fake News Network

It takes a lot for me to IGNORE you, but you can try.
  • #35
  • Last Post: Apr 22, 2019 4:18am Apr 22, 2019 4:18am
Erebus, his answer/statement is more than three years old.. no matter if he was right or wrong, things have changed most likely meanwhile.
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