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A rollover fee, also known as “swap”, is charged when you keep a position open overnight.

A forex swap is the interest rate differential between the two currencies of the pair you are trading.

It is calculated according to whether your position is long or short.

rollover

How to Calculate Swap

For forex, here’s the formula to calculate swap:

Swap = (Pip Value * Swap Rate * Number of Nights) / 10

Rollover Example

Trading 1 lot of EUR/USD (short) with an account denominated in EUR

Pip value: $10

Swap rate: 0.54

Swap fee: (10 * 0.54 * 1) / 10 = $0.54