In essence, swap rates are the difference in interest rates between the two currencies in the trading pair. Interest rollover fees are a component of forex trading since currency exchanges entail borrowing one currency to buy another. Interest is paid on the borrowed currency and earned on the purchased currency. The daily cost is deducted from the client’s funds when the swap rate is negative, and when it is positive, the amount is credited to the client’s account. Swap procedures are carried out on daily working days at midnight and can take several minutes,and the amount is being charged or applied to your account. In order to cover the weekend, Swaps are billed for three days on Fridays.
Note that GemForex reserves the right to review and update the Swap rates per symbol on a frequent basis.
The up-to-date swap lists can be viewed at any time on our website in the instrument specifications or via the trading terminals.