A cost may apply when holding a buy position overnight.
Overnight Swaps
Understand overnight holding costs
Swap rates are rollover adjustments applied when leveraged CFD positions stay open after the daily market rollover time.
What is swap rate?
Overnight funding on open positions
A swap rate is the financing adjustment applied to an open CFD position held overnight. It is also called an overnight swap or rollover rate.
Depending on the product, trade direction and market rates, the swap can be charged to the account or credited to the account.
- Swaps apply when a position stays open past rollover time.
- Long and short positions can have different swap rates on the same instrument.
- Swap rates may change as market rates, liquidity and broker conditions change.
Example
EURUSD
The result depends on the market and current rate difference.
Figures shown on this page are explanatory only. Check the live contract specification in MT5 or WebTrader before trading.
How do swaps affect trading?
Overnight swaps can change the cost of holding a position.
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How does a Forex swap work?
Rollover applies when a trade stays open overnight
At the end of the trading day, open positions can roll into the next trading day. That rollover can create a swap debit or credit on the account.
Open a position
Buy or sell a Forex pair or another CFD instrument through MT5 or WebTrader.
Hold past rollover
If the position remains open after platform rollover time, overnight financing is assessed.
Swap is applied
The account is adjusted with a swap charge or credit according to instrument and trade direction.
Wednesday rollover
Forex and some CFD products may apply a triple swap on Wednesday for weekend settlement. The exact day and amount can vary by instrument.
Formula guide
How swap rate is calculated
Position size
x
Swap rate
x
Holding days
The final adjustment can differ by symbol, trade direction, account currency and platform settings. Always check the live platform specification.
Different Forex pairs, metals, commodities, indices and stock CFDs can have different swap structures.
Buy and sell positions may receive different overnight adjustments on the same market.
Larger positions can create larger overnight financing adjustments.
The longer a position stays open past rollover, the more swap adjustments may build up.
Open your account in 3 simple steps
Register, fund your account and manage trades through KOS Markets platforms.
Register
Create your account and complete the secure application steps.
Fund
Add funds through the available account funding options.
Trade
Trade global markets and check live swap values inside your platform.
Ready to trade overnight?
Review costs before holding trades
Understand spreads, trading hours and overnight swaps before managing trades with KOS Markets.