Swap (sometimes called rollover) reflects the interest-like charge or credit applied when you hold a spot forex position past your broker’s rollover time. It depends on rate differentials, broker policy, and whether you are long or short the pair.
Day trading vs holding
Intraday traders may rarely notice swap. Swing traders should include swap in expectation, especially when a strategy holds through multiple rollovers.
Islamic/swap-free accounts
Some account types replace explicit swap with other fees or wider spreads. Always read the account terms rather than assuming “zero swap” means zero cost.
Estimate components with the swap calculator and confirm numbers on your platform.
Building a simple carry ledger
For swing holds, keep a running column of expected swap per night next to your thesis. Over a week, carry can rival a small move in pips—especially on positions that look flat on the chart.
Wednesday “triple” myths and realities
Many retail platforms apply a different swap schedule mid-week to approximate weekend funding. Read your broker note rather than assuming universal rules.
- Log rollover timestamps in UTC.
- Compare long vs short swap for the same symbol.
- Track when you crossed the cutoff by minutes, not hours, if disputes arise.
Honest expectations
Swap direction can flip with policy cycles. A carry-positive backtest from one regime may invert quietly—treat carry as conditional, not permanent income.