Swap / overnight financing
The cost or income that comes from the interest rate difference of holding forex and CFD positions overnight.
A position that buys the higher-interest currency and sells the lower-interest one (carry) can receive positive swap; the opposite pays. The broker adds its own markup, so most positions are net payers. On Wednesdays a triple swap is applied (for the weekend).
"Swap-free" (Islamic) accounts may charge a flat fee instead of swap. On positions held for a long time, swap can be a bigger cost than the spread.
Related terms
Where it appears in the guides
Guides whose text uses this term; most frequent first.
- Spread, komisyon ve swap maliyetleri nasıl karşılaştırılırBrokers
- Spread, komisyon, swap ve gizli maliyetlerGetting started with trading
- Broker seçerken 10 kriterBrokers
- Backtest: veri, örneklem büyüklüğü ve hatalarStrategy & backtesting
- cTrader ve DXtrade karşılaştırmasıPlatforms & tools
- Emtia piyasaları: altın, gümüş ve petrolMarkets