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Knowledgebase: Forex Trading
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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