Swap/Overnight Fee Calculator
Calculate overnight financing costs for holding forex and CFD positions. Select your broker to pre-fill approximate swap rates, or enter your own rates directly from your trading platform.
Calculate Your Swap Fees
Swap Rates
Manual entry — enter your broker's rates belowHow to find your swap rates: In MetaTrader, right-click the instrument → Specification → look for "Swap Long" and "Swap Short". On your broker's website, check Contract Specifications or Instrument Details. Enter negative values for charges and positive for credits.
👆 Enter your swap rates above to see the breakdown
Select your broker to pre-fill approximate rates, or enter them manually from your trading platform.
Understanding Swap Fees
Every forex trade involves two currencies. When you hold a position overnight (past 5 PM EST / 10 PM GMT), you effectively borrow one currency and lend the other. The swap fee reflects the difference in overnight interest rates between these two currencies, plus your broker's markup.
💡 Core Formula
The multiplier is 1× for normal nights and 3× for Wednesday nights (to cover the weekend). Swap rates are expressed in points — the smallest price increment for each pair. Your broker publishes these rates in their contract specifications.
🗓️ Why Triple Swap on Wednesday?
Forex markets settle trades two business days after execution (T+2). A position held overnight on Wednesday would normally settle on Friday, but the rollover pushes settlement to Monday — skipping Saturday and Sunday. To account for these two extra days, brokers charge three days of swap on Wednesday night.
📍 Where to Find Your Broker's Swap Rates
Swap rates vary between brokers and change frequently. Here's how to find yours:
MetaTrader 4/5
Right-click an instrument in Market Watch → Specification → look for "Swap Long" and "Swap Short" values.
cTrader
Click the instrument name → Symbol Info panel → scroll to swap charges section.
Broker Website
Navigate to Trading Conditions or Contract Specifications — most brokers publish full swap rate tables.
TradingView
Open the instrument details panel (info icon) → check the financing/swap section for your connected broker.
⚠️ Important Notes
Swap rates vary significantly between brokers and change frequently as central banks adjust interest rates. Pre-filled rates from broker selection are approximate averages for educational purposes and may not reflect current live rates. Always verify your broker's actual swap rates before entering a trade. Some brokers offer swap-free (Islamic) accounts that replace overnight fees with alternative charges.
Key Concepts
Interest Rate Differential
Swap fees are driven by the difference between the central bank interest rates of the two currencies. Higher interest rate currencies tend to earn swaps when bought, and cost swaps when sold. This relationship is the foundation of carry trading strategies.
Carry Trading
Carry trading involves buying a high-interest-rate currency and selling a low-interest-rate one to earn daily swap credits. While this can generate passive income, exchange rate movements can easily wipe out months of accumulated swap earnings.
Rollover Time
Swaps are applied at the daily rollover, typically 5 PM EST (10 PM GMT). Day traders who close all positions before rollover avoid swap fees entirely. If you open and close within the same trading day, no swap is charged.
Broker Markup
Brokers add their own markup to interbank swap rates. This means positive swaps (credits) are smaller than theoretical rates, while negative swaps (charges) are larger. Comparing swap rates across brokers can save significant costs for swing traders.
✅ Key Takeaway
Always factor swap costs into your trade plan before entering a position. For a 10-day swing trade, swap fees of £5–10 per night per lot can add up to £50–100 — potentially turning a small profit into a loss. Day traders avoid swaps entirely by closing before rollover.
Frequently Asked Questions
❓ What are swap fees in forex trading?
Swap fees are overnight financing charges applied when you hold a position past the daily rollover time (5 PM EST). They reflect the interest rate differential between the two currencies in the pair, plus your broker's markup.
❓ Why is Wednesday swap tripled?
Forex trades settle on T+2 (two business days). Wednesday night positions roll from Friday to Monday settlement, covering Saturday and Sunday. Three days of swap are charged to account for the weekend.
❓ Can swap fees be positive?
Yes. When you buy a currency with a higher interest rate than the one you sell, the swap can be a credit. This is the basis of carry trading. However, brokers add markup that makes positive swaps smaller than theoretical rates.
❓ Where do I find my broker's swap rates?
In MetaTrader, right-click a symbol and select Specification to see Swap Long and Swap Short values. On your broker's website, look under Contract Specifications or Trading Conditions. Rates change frequently, so always check before entering a trade.
❓ How do swap fees affect swing traders?
Swap fees accumulate daily and can significantly impact profitability for positions held over days or weeks. Always factor swap costs into position sizing and profit targets.
❓ Are swap rates the same across all brokers?
No. Each broker sets their own markup. Comparing swap rates across brokers is worthwhile if you regularly hold positions overnight, as the difference can be substantial over time.
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