More Transparent Swap Fees (Overnight Rollover Fee)
Eagles Markets work along very transparent rules for the swaps. All the swap fees come from liquidity providers directly. We do not mark up additional swap fees, and that's the reason why we are welcomed by traders preferring long-term investments
What is Swap Fee in Forex？
In Forex, when you keep a position open through the end of the trading day, you will either be paid or charged interest on that position, depending on the underlying interest rates of the two currencies in the pair. Overnight rate is the interest paid or earned on holding a position overnight. Each currency has its own interest rate. Since foreign exchange is traded in pairs, each transaction involves not only two currencies, but also two different interest rates.
You will earn the interest rate on the currency you bought and pay the interest rate on the currency you sold. The interest rate of the currency you bought is higher than the interest rate of the currency you sold, and you can earn overnight interest (positive overnight rate).
If the interest rate on the currency you bought is lower than the interest rate on the currency you sold, you will need to pay overnight interest (negative overnight rate).
Overnight rates may increase your transaction costs or profits.
How is Swap Fee Calculated?
For Forex, the Swap Calculator works as follows:
1. Swap Rate (in currency) × Lots (Volume) = SWAP in base currencies
2. Swap Rate (in pips) × Lots (Volume) = SWAP in quote currency
Positive Swap Fee vs. Negative Swap Fee in Forex
A forex swap is the interest rate differential between the two currencies of the pair you are trading. when you buy a currency with higher interest rate and sell a currency with lower interest rate, you are charged a positive swap. Likewise, when you buy a currency with lower interest rate and sell a currency with higher interest rate, you are charged a negative swap
When Are Swaps Charged?
The platform charges or pays overnight spreads at 0:00 platform time on each trading day, and charges or pays tripple spread on Wednesday. The reason you get 3x the interest on Wednesday is that the spot forex market works in a 3 day settlement mode; and thus the weekend interest is picked up. As the currency markets involve a simultaneous buying or selling of one currency to another, the guiding interest rate difference for the currency pair you are trading determines the outcome. For overnight positions, you are either levied a positive swap (the swap rate is added to your trade) or a negative swap (the swap rate is subtracted from your trade). In theory, when you buy a currency with higher interest rate and sell a currency with lower interest rate, you are charged a positive swap. Likewise, when you buy a currency with lower interest rate and sell a currency with higher interest rate, you are charged a negative swap.
How is Swap Fee Determined?
A swap fee is the rate of the fixed leg of a swap as determined by its particular market and the parties involved. In an interest rate swap, it is the fixed interest rate exchanged for a benchmark rate such as Libor, plus or minus a spread. Because different brokerage platforms access connect different liquidity providers, swap fee on currencies will also vary. Eagles Markets is only responsible for receiving and paying swaps without any adjustments.
How to avoid paying swaps?
• Trade in direction of positive interest. You can go trade only in the direction of the currency that gives positive swap.
• Trade only intraday and close positions before the market closed.
• Open up a swap free Islamic account
ISLAMIC Account - Swap Free Account
The platform provides Islamic accounts on different conditions. Muslim Clients do not need to pay any overnight interest rates when trading any assets. Clients must however provide legal proofs documenting their Islamic belief during registration. They are also asked to use the Eagles Markets Islamic account interest-free scheme when using their account.
Swaps chart
Forex
| Symbols | Long positions | Short positions |
|---|---|---|
| USDJPY | -0.780/lot | -2.590/lot |
| EURUSD | -4.280/lot | 0.550/lot |
| USDHKD | -23.090/lot | -23.860/lot |
| GBPUSD | -2.570/lot | -1.490/lot |
| AUDUSD | -1.410/lot | -1.080/lot |
| EURNOK | -49.390/lot | -9.920/lot |
| USDCAD | -2.200/lot | -2.400/lot |
| USDTRY | -282.906/lot | -2.740/lot |
| USDSGD | -4.450/lot | -4.380/lot |
| EURCHF | -1.270/lot | -2.600/lot |
| USDSEK | -12.120/lot | -30.920/lot |
| GBPAUD | -3.910/lot | -3.230/lot |
| AUDCAD | -2.110/lot | -1.820/lot |
| CHFJPY | -4.230/lot | -0.030/lot |
| AUDJPY | -1.000/lot | -1.930/lot |
| GBPNZD | -4.480/lot | -3.940/lot |
| NZDCHF | 0.110/lot | -2.730/lot |
| NZDUSD | -1.480/lot | -1.110/lot |
| USDCNH | -61.380/lot | 11.120/lot |
| EURCAD | -6.040/lot | 0.060/lot |
| EURJPY | -3.690/lot | -0.730/lot |
| GBPNOK | -34.460/lot | -30.330/lot |
| EURSGD | -8.820/lot | -2.180/lot |
| EURSEK | -37.250/lot | -17.230/lot |
| CADCHF | 0.420/lot | -3.150/lot |
| SGDJPY | -1.990/lot | -3.360/lot |
| GBPCHF | 0.520/lot | -4.750/lot |
| NZDCAD | -2.180/lot | -1.830/lot |
| NZDJPY | -1.100/lot | -1.900/lot |
| USDNOK | -21.190/lot | -25.740/lot |
| AUDNZD | -2.460/lot | -2.560/lot |
| EURAUD | -6.300/lot | -0.240/lot |
| USDCHF | 0.940/lot | -3.890/lot |
| CADJPY | -0.940/lot | -2.190/lot |
| GBPCAD | -3.840/lot | -2.680/lot |
| EURNZD | -7.020/lot | -0.690/lot |
| GBPJPY | -1.810/lot | -3.010/lot |
| GBPSGD | -6.790/lot | -5.230/lot |
| USDZAR | -238.320/lot | 86.448/lot |
| AUDCHF | 0.270/lot | -2.830/lot |
| EURGBP | -3.070/lot | -0.110/lot |
Commodities
| Symbols | Long positions | Short positions |
|---|---|---|
| XTIUSD | -13.810/lot | 8.270/lot |
| XBRUSD | -11.660/lot | 6.320/lot |
| XAUUSD | -4.590/lot | -2.330/lot |
| GOLD | -4.590/lot | -2.330/lot |
| XAGUSD | -4.924/lot | -0.745/lot |
Indexes
| Symbols | Long positions | Short positions |
|---|---|---|
| US500 | -3.800/lot | -15.400/lot |
| CHA50 | -11.704/lot | -10.415/lot |
| UK100 | -4.101/lot | -3.952/lot |
| GER30 | -6.843/lot | -10.817/lot |
| HK50 | -9.798/lot | -6.943/lot |
| US30 | -13.700/lot | -18.600/lot |
| EUSTX50 | -1.732/lot | -2.737/lot |
| CHH00 | -6.975/lot | -4.650/lot |
| NAS100 | -8.700/lot | -11.200/lot |
| JPN225 | -1.186/lot | -1.293/lot |
| AUS200 | -4.435/lot | -4.160/lot |