Swap Calculator
Estimate overnight rollover costs or credits for holding forex positions. Plan your trades around swap fees.
Calculate Swap Costs
Swap Estimate
Daily Swap
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Total Swap
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Swap Rates Used (per lot/day)
📌 Note: Swap rates vary by broker and change frequently based on interbank interest rate differentials. The rates shown here are typical averages for illustration. Always check your broker's actual swap rates before holding positions overnight.
How Swaps (Rollovers) Work
A swap (also called a rollover) is the interest paid or earned for holding a forex position overnight. Every currency has an associated interest rate set by its central bank. When you trade a currency pair, you're effectively borrowing one currency to buy another.
If the currency you buy has a higher interest rate than the one you sell, you earn a swap credit. If it has a lower rate, you pay a swap charge.
Triple Swap Wednesday
Most brokers charge triple swap on Wednesdays to account for the weekend settlement period (forex trades settle T+2). This means holding a position from Wednesday to Thursday costs three nights of swap instead of one.
Factors That Affect Swap Rates
- Interest rate differential — the gap between the two currencies' central bank rates
- Broker markup — brokers add their own margin to the interbank swap rate
- Currency pair — exotic pairs tend to have larger swap costs
- Direction — buying a high-yield currency vs. a low-yield one can earn you positive swap
Frequently Asked Questions
Can I earn money from swaps?
Yes. This strategy is called a carry trade — buying a high-interest-rate currency against a low-interest-rate one to earn the differential. However, carry trades carry exchange rate risk, and swap income may not offset adverse price movements.
When are swaps charged?
Swaps are typically charged at the daily rollover time, usually around 5:00 PM EST (server time varies by broker). If you open and close a position within the same trading day, no swap is charged.
Do Islamic (swap-free) accounts exist?
Yes. Many brokers offer swap-free accounts for traders who cannot pay or receive interest for religious reasons. These accounts may charge an administration fee instead or have other conditions.
Why are swap rates different between brokers?
Brokers have different funding costs and add different markups to the interbank swap rate. Some brokers are more competitive on swaps than others. It's worth comparing if you frequently hold positions overnight.
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