SWAP RATES

'Swap' is also commonly known as a 'rollover rate'. Swap is an amount paid or earned as a result of the differential interest rates applicable to currency pairs when a trader holds a position over night. Swap rates are calculated on daily basic at 4:59 PM/ET. To be subjected to swap, trade position must have been opened before 4:59 PM/ET and held open past this time. Swap rates are tripled on Wednesday at 4:59 PM/ET. Swap rate is differing for each currency pairs and depend on either long or short. Please refer to the summary table for swap rate traded with IKOfx.

Swap rate formula:

Swap debit/credit = Current swap rate in USD per unit * lot size

Example of Swap Rate Calculation

Current swap rate for long of AUD/USD at IKOFX	= 4.50 per 100,000 units
AUD/USD at 4:59 PM/ET	= 0.9035
Trade volume	= 1 standard lot ($100,000USD)
Swap debit/credit	= 4.50/100,000 x 100,000
	= $4.50 USD per day

You had earned $4.50 USD for holding 1 lot long AUD/USD through 4:59 PM/ET daily and for Wednesday it is tripled the value ($13.50 USD)

Note:

1. Mini Account Swap Rates are 1/10 the size of the Standard Account Swap Rates.
2. You can utilize the Swap Calculator from our webpage for easy swap calculation.