Rollover Rates
FOREX.com Rollover Rates
At FOREX.com, you earn or pay rollovers at a competitive price.
Rollover rates displayed are based on a 10K position and estimated based on the previous rollover rate and number of days being rolled. For example, typically Wednesdays are rolled for three days to account for the weekend. Rollovers also may vary due to month end or holidays.
Non-FX rates
When you hold a position overnight, you either pay or receive a rollover fee (also known as a financing charge). These fees fluctuate daily and are different for long and short positions.
Rollovers are only applied to positions that are open at market close in New York – 5pm ET.
A rollover fee is calculated using a swap rate. The swap adjustment is simply the accounting of the cost-of-carry on a day-to-day basis (we do not charge rollover on intraday trades).
The swap rate is measured by the difference in interest rates between the two currencies. We source the swap rate from major financial institutions which base it on a variety of factors such as inflation and key technical indicators.
The rollover rates as calculated as follows:
- Long positions – you are credited/debited by –1 x the trade size x swap points in the unit quote currency
- Short positions – you are debited/credited by the trade size x swap points in the unit quote currency
Example
The swap rates for EUR/USD are 0.817/1.28 and you have a long position of 10,000.
If you held the position overnight, you would be charged a $1.28 rollover fee.
If you had a short position, then you would receive $0.82.
The amounts are then converted back into your base currency.
Financing rates for other markets
How are finance rates calculated?
Financing charges for positions which remain open at our market close are calculated using the following formula:
Short Positions F = V × I / b
Long Positions F = V × I / b, where:
- F = Daily Financing Fee
- V = value of equivalent (quantity x end of day closing price)
- I = applicable Financing Rate
- b = day basis for currency (365 for GBP, HKD and AUD, 360 for all other currencies)
The daily financing fee will be applied to your account each day that you hold an open position (including weekend days). The financing rates are set at benchmark regional interest rate +/- 2.5%.
For example, you are long €10 on the UK 100 and hold the position overnight. UK 100 closes at 6500.
The SONIA rate for that day is 0.33
F = V x I/b
V = 10 (quantity) x 6500 (end of day closing price ) = 65000
I = 0.33 + 2.5% = 2.88%
V x I = 65000 x 2.88% = 1872
F = 1872 / 365 = €5.12 (Daily financing charged, converted into the base currency of your account)
Financing on hedged trades
If you have a hedged position open overnight, you will be charged overnight financing on both sides of the trade.
Frequently Asked Questions
When is rollover applied?
At FOREX.com, rollovers are processed daily at 5:00pm ET, at which time any open positions will be rolled and a debit or credit applied to your account. We do not charge rollover on intraday trades.
Visit our market trading hours page for the latest trading hours on every market that may be affected by public holidays.
Can I avoid paying rollover?
At FOREX.com, rollovers are not applied to intraday trades. No interest is paid or received if you open and close a position within the same trading day after 5pm ET and before 5pm ET the following day. Other brokers may apply rollovers on a continuous, second-by-second basis. This policy may ultimately end up raising your total trading costs, especially if the broker's rollovers are not competitive.
To read more about charges applicable to different accounts, follow through to our trading costs.
How are rollovers determined?
Rollover rates are based on the interest rate differential of the two currencies and the spot price. However, rollover rates can be impacted by market conditions, especially at the end of a quarter or year. We periodically review our rollover rates and adjust them to fit with current market and industry conditions.
To learn more about factors that impact currency markets, read our 'Key factors that affect the forex markets' page.
What is rollover?
A rollover (also known as a financing charge or swap rate) is the simultaneous closing of an open position for today's value date and the opening of the same position for the next day's value date at a price reflecting the interest rate differential between the two currencies.
To find more information on rollovers, follow the link to our rollover FAQs page.
TRY Financing
It's important for traders to be aware of the unique characteristics and risks associated with trading Turkish Lira (TRY) pairs such as EURTRY, USDTRY, and TRYJPY due to the high volatility of the currency.
One crucial aspect traders should consider is the swap rates. A swap rate is the interest rate differential between the two currencies in a currency pair and is applied when holding positions overnight. Depending on the prevailing interest rates in Turkey and the other currency's country, traders may either receive or pay swap fees* when holding LONG or SHORT positions in TRY pairs overnight.
However, the high volatility in TRY pairs can result in larger and more frequent swings in the interest rate differential, leading to situations where traders may need to pay swap fees instead of receiving them.
Please note that market conditions, economic factors, and geopolitical events can impact all currency pairs to varying degrees, and each pair comes with its unique set of risks.
*The swap fee is called Financing (FOREX.com Platforms), and Swaps (MetaTrader Platforms) on the customer statements.
XAU Financing
XAU markets (including XAUAUD, XAUCHF, XAUEUR, XAUGBP, XAUJPY, and XAUUSD) are currently experiencing heightened volatility and liquidity shortages. These conditions are affecting overnight financing rates. Traders may either pay or receive financing for holding LONG or SHORT positions, and financing charges may also be higher for LONG or SHORT positions due to the ongoing volatility.
Please note that market conditions, economic factors, and geopolitical events can impact all currency pairs to varying degrees, and each pair carries its own unique set of risks.
On customer statements, the swap fee is labeled “Financing” on FOREX.com platforms and “Swaps” on MetaTrader platforms.