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Forex swap rates or rollovers are defined as overnight interest that is added or subtracted to keep a position open overnight. The swap rate depends on the difference between the overnight interest rates between the two currencies in the pair and whether the position is long or short.
Swap rates at N1CM are charged as low as possible and paid as high as possible to the client accounts. Details about how the swap amounts are calculated and applied to your account are provided below.
Swap rates are applied at 00:00 server time
Swaps apply only if the position is open until the next Forex trading date.
Swaps are charged a triple rate the usual rate on Wednesday night due to the weekend coming in effect.
Swaps for Cryptocurrencies are charged a triple rate the usual rate on Friday night
You can check your swap rates on MT4 & MT5
Some currency pairs may have negative swap rates on both sides, both ‘long’ and ‘short’.
Swaps are calculated in terms of the right-side currency in the FX pair.
However, the charges and payments for the accounts are always conducted after converting the swap amounts (if needed) to USD.
Example: You hold one long EUR/USD position overnight.
EUR/USD long swap is charged as 5 USD at 00:00 server time (15 USD on Wednesday midnight close).
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