Swap fees are financing fees or credits which are determined and charged/received for holding positions overnight. This may have a positive or negative effect on the trades you take, depending on the position you take for your trades. These fees are calculated on a pro rata basis to the standard lot, thus, incurs a higher charge the greater the size of the trade. A position held overnight is when a trade is opened before market close and held over market rollover to the next trading day (00:00 MT4 server time).
A triple swap occurs when a trade is opened on Wednesday and held overnight. This is due to the T+2 business day settlement period, which effectively settles on the Monday, and therefore, has to take into account the weekend as part of the swap charge.
To locate swaps on your trading platform (such as MT4 or MT5), follow these steps:
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Open the Market Watch Window: If it's not already open, you can access it by clicking on "View" in the top menu and selecting "Market Watch."
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Select the Currency Pair: In the Market Watch window, right-click on the currency pair for which you want to check the swap rates.
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Choose 'Specifications': From the context menu, select "Specifications." This will open a new window displaying detailed information about the symbol, including the swap rates for long and short positions.
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Review Swap Rates: The swap rates will typically be displayed as either a positive or negative value, indicating whether you will receive or pay swaps for holding the position overnight.
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