Overnight fees, also known as rollover fees or swap rates (link to article about what are overnight fees), are interest payments applied to positions held open overnight in the financial markets.
Effectively, a trader is using a fraction of his funds to open a CFD position (used margin), borrowing the full contract value from the broker. The swap charge depends on the Official Interest Rate of the base currency.
🧾How to See the Fees I Was Charged?
To find the overnight fees that you have paid in the past, you need to log into your CAPEX.com account and go to the WebTrader.
Next, follow these steps:
- Click on the dropdown menu on the top right corner of the screen (the 3 horizontal lines)
- Select Account Statement
Now you will see all the overnight fees you were charged.
📋 Where Can I See the Full List of Overnight Fees?
You can find all the swap rates charged on this page.
🧮 How to Calculate the Overnight Fees?
For each day, a position is held opened overnight, calculation is based on the following formula:
Swap Fees = Volume x Instrument Mid Closing Price (average between Buys and Sell closing price) x Instrument Overnight Interest
When Are Overnight Fees Charged?
The fees are charged at 22.00 GMT (or 21:00 during BST).
Why Am I Charged Triple Swap Fees on Some Days?
Because most banks across the globe are closed on Saturdays and Sundays, there is no rollover on these days. However, the banks still apply interest on these days. To account for that, the Forex market books three days’ worth of Swap Fees on Wednesdays. For the rest of CFDs (shares, indices, commodities, bonds, ETFs, etc.), the triple rollover is booked on Friday.
What Is the Grace Period for Overnight Fees?
The grace period is between 2 days and 5 days, depending on the financial instrument class. For more information see our document on Charges and Fees here.
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