A swap (also called overnight financing or rollover) is a fee that is either charged to or credited to your account for keeping a position open past the daily rollover. It reflects the cost of financing the position overnight — for currency pairs, this is the interest-rate difference between the two currencies in the instrument you're trading.
Because it only applies to positions held overnight, swaps mainly affect traders who keep positions open for several days or weeks. If you open and close a position within the same trading day (before the rollover), no swap applies.
When is it charged?
Swaps are applied once per day, at the daily rollover — around 5:00 PM New York time. Any position still open at that moment is rolled over to the next trading day, and the swap is added to or deducted from your account.
Positive or negative, long or short
Whether your swap is credited or charged depends on the instrument and the direction of your trade:
If you hold the side with the higher interest rate, the swap can be positive (credited to your account).
If you hold the side with the lower interest rate, the swap is usually negative (charged to your account).
For some instruments, both the long (buy) and short (sell) swap can be negative at the same time. This is normal and reflects the underlying financing costs.
For example, if you go long EUR/USD and the euro's interest rate is higher than the US dollar's, you may earn a small positive swap for each day the position stays open. If the rates were reversed, you would instead pay a small negative swap.
Where to check swap rates
The exact long and short swap for every instrument is published on the B2PRIME Contract Specification page. Rates are reviewed and updated on each business day. Over the weekend, the rates published on Friday continue to apply.
Does B2PRIME offer swap-free accounts?
B2PRIME does not currently offer swap-free (also known as Islamic) accounts, and swaps apply to all instruments.
Need help?
If a swap on your account looks unexpected, reach us via live chat or at [email protected] and we'll review it with you.