When you hold a CFD position overnight, your CFD position will consequently need to be financed to remain open. According to the type of position and the swap rate of the instrument, you will either receive or pay interest swap rates.
CFD positions opened and closed within the same trading day are not subject to overnight financing. 🚨
Here’s how you can calculate your Interest Swap Rate:
Quantity x Swap Rate (instrument/position) * Number of Nights
Long “Buy” position of 100 Gold units for 7 nights.
100 x (-0.1713544) x 7 = -119,94 USD
If the traded instrument is Forex, the Interest Swap Rate is calculated in the second currency of the couple.
Every other instrument’s Interest Swap Rate will be calculated in the currency in which the instrument is traded (e.g. Gold is traded in USD)
If your account is in a different currency than the traded instrument, then the current exchange rate between the two currencies will apply.
*Overnight Swap is applied at 22:00 PM GMT (Monday - Thursday) for all open positions. For positions held during the weekend (Friday - Sunday), the swap is collectively applied on Sunday at 22:00 PM GMT.
Long or Short Position Swap
You'll be able to find the swap rate for your short or long position in the instrument's additional information through the web-based app or on our Mobile App.