Forex swap rate or rollover rate can be defined as the overnight interest that is charged or paid on an open position. The rate that is used is derived from the overnight interest differential between the two currencies of the pair being traded, the market conditions and whether you are long or short the position.
Important elements of
Swap rates are applied at 00:00 platform time
Swaps are applied each night on open positions only, however on Wednesday night swaps are charged at triple the rate to account for the weekend
Swap rates are calculated in points and can be positive or negative depending on the interest rate of the two currencies
To view the up to date swap rates, please refer to the Market Watch panel on your MT4 client terminal, right click and select 'Symbols'. Choose the Forex pair you are interested in and select 'Properties'
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