Calculating rollover

Allright, this probably has been covered before. I did a search for it and could not find what I was looking for.

My question: How is the rollower calculated?

Say Im for instance short on USDCHF. If Im going short at eg 14.00 GMT, will the rollower charges be larger than if I went short on 20.00 GMT the same day?

And exactely when is the rollower charged? Is it 0000 GMT? Brokertime?

This is a very good and important question. I must admit I have no clue, but it would not surprise me to find out if different brokers calculate it differently. Can't wait to see the responses.

Sister is correct, it differs slightly between brokers. Oanda does some sort of rolling average and the length of time you hold your position will determine how much of a rollover you are charged.

Most brokers roll ALL trades at the magic hour (typically 5pm EST). There could be up to a few minutes of differential time (because of processing), but for the most part, if you enter a trade at 4:59:59pm EST and close it at 5:00:01pm EST you're getting charged. Some brokers have cut-off times to allow their systems to "lock" and process the orders (MBT does this...meaning you can't trade for about 5 minutes between the magic hour).