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Frequently Asked Questions
What is a forex swap?
A forex swap (also called rollover or overnight fee) is the interest charged or earned for holding a position overnight past the daily cutoff (usually 5 PM New York time). It reflects the interest rate differential between the two currencies in the pair. You pay swap on one side and earn on the other.
Why is Wednesday swap 3x?
The Wednesday triple swap compensates for the weekend. Trades rolled over on Wednesday settle on Friday, but the next settlement day is Monday — spanning 3 calendar days. So Wednesday's swap covers Friday, Saturday, and Sunday simultaneously.
When do I earn positive swap?
You earn swap when you buy the higher interest rate currency and sell the lower one. Example: Long USDJPY earns positive swap because USD has higher interest rates than JPY. This is the basis of 'carry trading' — borrowing in low-rate currencies to buy high-rate currencies.
How do swap rates affect prop firm trading?
Swap costs reduce your profit on trades held overnight. For short-term prop firm challenges, swaps are usually a minor factor. But if you trade XAUUSD or hold positions for multiple days, swap costs add up and eat into your challenge profit target. Always factor swap into your trade planning.