Trading Conditions
Swaps & Fees
Fair Transparent Pricing
In line with our core purpose of providing traders with low cost access to global markets through superior pricing and execution, we ensure you get the finest swap rates available by comparing pricing from leading non-bank market makers and choosing the most competitively priced. This way you get the best of the best.
Swaps & Fees Explained
What is a Swap Rate?
A swap is interest paid or received for holding a position over rollover/end of day. On a currency pair interest is paid on the currency sold and received on the currency bought.
Swap charges are released on a daily basis by financial institutions that we work with. They are calculated based on the charges we incur to roll the positions in the market. The swap charge is measured on a standard size of 1.0 lot.
Keep in mind that Wednesday is a triple swap day for FX pairs. This is due to the markets being closed on Saturday and Sunday.
What is a Financing Fee?
The financing fee is the cost you pay to hold a position on CFD trades.
It helps traders gain access to leveraged products while only having to pay an initial margin to open the position. As such, the financing fee reflects the cost of borrowing or lending the asset(s) which relate to your position(s). In addition, if dividends are paid out on the relevant index, then long positions will receive a positive adjustment, while short positions will receive a negative adjustment.
Please keep in mind that Friday is a triple fee day for CFDs.
Swaps
| Instrument | Short | Long |
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FAQs
How is a swap rate determined?
The swap rate that we provide to traders on Forex and Metals is determined primarily by the interbank interest rates, taking into account other factors such as the interest rate differential between currencies and liquidity in overnight funding markets.
Where does Global Prime get its prices for swaps?
Global Prime’s Swap rates are derived from top non-bank market makers and liquidity providers who pull their data from interbank rates. Our ability to compare and contrast rates from different providers enables us to provide extremely competitive swap rates.
When will the swap charge or credit be applied to my trade?
Swaps are accumulated by leaving positions open past rollover or 5pm NYC EST/EDT. Swaps will be added/subtracted to open positions, affecting the unrealized net trading profit and loss. Swaps are realized once the positions are closed.
When does Global Prime update the swap rates?
Our swap rates are updated once to twice a week.
Can we see historical swap rates anywhere?
Unfortunately, we do not provide historical data.
How can I calculate the swap on a trade?
To calculate swap rate you can use our trading calculator or follow the equation below:
FX: Pip value X Swap rate in points X exchange rate (if different to account currency)
Example: 0.24 lots AUDUSD (pip value = USD$2.40). Swap rate: 8.34.
Calculation: USD$2.40 X 0.834 = USD$2.00 (rounded from USD$2.0016)
CFD: Lot size x Swap fee (charged in underlying product currency/Margin currency)
Example: NAS100, long swap = -0.89
Calculation: 1 lot X 0.89 = USD89 cents