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Create AccountSwap Calculator
Work out what holding a position overnight costs — or pays — before you decide to keep it.
Your Result
The calculation runs in your browser. Rates used for currency conversion are indicative — check your broker for the exact figure.
Swap is the interest paid or received for holding a position past the daily rollover. It is charged once per night and it is easy to ignore, right up to the point where a trade held for three weeks has quietly given back most of its profit.
The rate comes from your platform, not from here — every broker sets its own, and it changes. In MetaTrader you will find it by right-clicking the symbol and opening Specification. Enter it as a negative number if you are charged, positive if you are paid.
When to use it
- Before holding a position over a weekend or a holiday.
- On any swing or position trade lasting more than a couple of nights.
- When a carry trade is meant to earn swap rather than pay it.
- When comparing a standard account against a swap-free one.
One rate, multiplied by size and by the number of nights, with Wednesday counted three times.
Nights Charged = Nights + (2 if a triple swap Wednesday falls inside)
Total Swap = Rate × Lots × Nights Charged- Most brokers charge triple swap on Wednesday night to settle the weekend, since spot forex settles two business days forward.
- Swap can be positive. Holding the higher-yielding currency of a pair sometimes pays, which is the whole basis of a carry trade.
- Swap-free accounts usually replace it with a flat administration fee after a few days, so they are not free for long holds.
One standard lot with a swap of −$7.50 per night, held for five nights including a Wednesday.
Working: Wednesday counts as three nights, so five calendar nights are charged as seven. 7 × $7.50 = $52.50 out. On a trade targeting 50 pips at $10 per pip, that is over a tenth of the profit gone before the market moves.
Where do I find my swap rate?
In MetaTrader, right-click the symbol in Market Watch and open Specification — the long and short swap are listed there. Most web platforms show it in the instrument details.
Why is Wednesday charged three times?
Spot forex settles two business days forward. A position held through Wednesday night settles on Saturday, which is not a business day, so the weekend interest is collected in advance.
Can swap ever be positive?
Yes. If you hold the currency with the higher interest rate, the differential can be paid to you. The amounts are small at retail size and can turn negative when central banks move.
Is a swap-free account better?
Only for genuinely short holds. Most swap-free accounts apply an administration charge after three to five days, and the spread is often wider to begin with.
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