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When IKOFX will charge for the swap / rollover of my trades daily?
Posted by Jocille M on 08 May 2011 10:52 PM
Swap rates are calculated daily at 23:59 GMT +0.
Trades that have been opened before 23:59 GMT +0 and held open past this time will be subject to swap rate.
Swap rate are triple on Wednesday at 23:59 GMT+0 (When Placing a trade in the spot Forex market, the actual value date is two days forward.
A deal done on Thusday is for value Monday.
A deal done on Friday is for value Tuesday, and so on.
On Wednesday, the amount of swap is triple in order to compensate for the following weekend, during which time swap is not charge
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