A swap occurs when a position is carried over to the next day across a rollover.
Positions carried over from Wednesday to Thursday will reflect three days' worth of swaps, including those from the weekend.
How to calculate swap
Calculation formula: contract size × transaction quantity (number of lots) × decimal digit × swap points
XAU/USD pair: Contract size × trading volume (number of lots) × decimal digit (XAUUSD has 2 digits, so 0.01) × specification swap point
XAU/JPY pair: Contract size × trading quantity (number of lots) × decimal digit (XAUJPY has 0 digits, so 1) × specification swap point
Example 1) If the buy swap is -7 and the position of 1 lot of XAUUSD purchased on Tuesday is carried over to Wednesday.
Swap = 100 x 1 x 0.01 x (-7)= -7 USD
Example 2) If the sell swap is -1.2 and you open a short position of 2 lots of XAUJPY on Wednesday and carry it over to Thursday.
Swap = 100 x 2 x 1 x (-1.2) x 3 =-720 JPY
*The decimal digits, contract size, currency used as the unit of required margin, and swap points are listed in the trading conditions on MT4/5 (quote display screen → right-click on the symbol → specifications). Please refer to Decimal Digits, Contract Size, Margin Currency, Buy Swap, Sell Swap section.
position carry-over period | Monday to Tuesday | Tuesday to Wednesday | Wednesday to Thursday | Thursday to Friday | Friday to Monday |
Swap reflection date | 1 day on Tuesday | 1 day on Wednesday | 3 day on Thursday | 1 day on Friday | 1 days on Monday |