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What is a Swap Rate?
Swap rate, also known as rollover fee, is the interest paid or earned for holding a position overnight in Forex trading. It is calculated
based on the difference in interest rates between the two currencies in a pair.
This fee structure ensures transparency and flexibility for traders in Thailand, Phillipines, and other regions.
This fee structure ensures transparency and flexibility for traders in Thailand, Phillipines, and other regions.
- If you buy a currency with a higher interest rate and sell a currency with a lower interest rate, you may earn a positive swap.
- If you buy a currency with a lower interest rate and sell one with a higher interest rate, you may pay a negative swap.
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How is the Swap Rate Calculated?
- Swap charges depend on several factors:
- The interest rate differential between the base and quote currencies
- The direction of your trade (long/buy or short/sell)
- The size of the position (lot size)
- The number of nights the position is held
- The broker’s markup or adjustment
General Formula:
Swap = (Pip Value × Interest Rate Difference × Number of Nights × Lot Size) / 10
Note: Exact formulas may vary by instrument and market conditions.
Swap = (Pip Value × Interest Rate Difference × Number of Nights × Lot Size) / 10
Note: Exact formulas may vary by instrument and market conditions.
Example Swap Rates Table
| Instrument | Swap Long (Buy) | Swap Short (Sell) |
|---|---|---|
| EUR/USD | -3.25 pips | +1.15 pips |
| USD/JPY | +0.85 pips | -2.10 pips |
| GBP/USD | -2.50 pips | +0.95 pips |
Swap values are indicative and may change daily. Always check live rates in the Pipze platform.
Important Notes
- Swap rates are applied automatically at 00:00 server time each trading day.
- Wednesday night swaps are tripled to account for the weekend rollover (Saturday & Sunday).
- Swap rates may be positive or negative depending on the instrument and trade direction.
- Different asset classes (Forex, Commodities, Indices, Crypto) may have different swap rules.
Swap-Free (Swap-Free) Accounts
Pipze also offers Swap-Free (Swap-Free) Accounts for traders who follow Shariah principles. These accounts do not incur or earn any interest on overnight positions, and are fully compliant with Swap-Free finance guidelines.
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How to Check Live Swap Rates on Pipze
- Log in to your Pipze trading platform (desktop or mobile).
- Select the desired trading instrument.
- Click on ‘Specification’ or ‘Details’.
- View the current Swap Long and Swap Short values.
