Rollover

Rollover is the daily process where your broker extends the settlement of your open positions to the next trading day. In spot forex, trades technically settle after two business days (T+2). Rather than actually settling and re-opening positions every day, brokers roll them over and apply a swap fee or credit.

The rollover happens at 5:00 PM New York time (10:00 PM UTC, or 9:00 PM during daylight saving). Positions held across this time are charged or credited the overnight swap. On Wednesday, the swap is tripled to account for the weekend settlement days (Saturday and Sunday, when the market is closed but days still count).

For day traders who close everything before 5 PM New York, rollover is irrelevant — no swap is charged. For swing traders and position holders, rollover costs can accumulate, especially on pairs with large interest rate differentials or during periods of monetary policy divergence between countries. Factor swap costs into your trading plan if you hold positions for multiple days.