When you hold a CFD position overnight, your CFD position will consequently need to be financed to remain open. You will either receive or pay Interest Swap rate depending on the position type and the swap rate of the instrument.
If you open and close a CFD position within the same trading day, you 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 21:00 PM GMT (Monday - Thursday) for all open positions. For positions held during the weekend (Friday - Sunday), the swap is collectively applied on Sunday at 21:00 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 platform or on our Mobile App.