Rollover Product Schedule
Rollover is the interest paid or earned for holding a position overnight. Each currency has an overnight interest rate associated with it, and because forex is traded in pairs, every trade involves not only two different currencies, but their two different interest rates.
Overnight interest rates will guide whether the trader will ultimately pay to hold the position or earn interest. Typically, these interbank rates will track a central bank’s target quite closely, however sharp changes in the supply or demand for a specific currency can shift interbank borrowing rates away from the central bank rates.
Typically, if the interest rate on the currency you bought is higher than the interest rate of the currency you sold, then you will earn rollover (positive roll). If the interest rate on the currency you bought is lower than the interest rate on the currency you sold, then you will pay rollover (negative roll).
It is possible however that both rollover for buying and selling the same pair are negative. As both Banks and GoDo charge a small spread on interest paid or earned.
Any client holding an open position at the end of the trading day (5pm EST) will be credited or debited rollover.
Rollover can add a significant extra cost or profit to your trade. Upcoming Rollover can be viewed in the MT4 terminal each symbol right click specification.
The MT4 terminal automatically calculates and reports all rollover or swap for you
liquidity providers. Every effort is made to display rollover rates one day before they are posted to your account.
However, during times of extreme market volatility, rates may change intraday.
Here is an example of the rollover rates in the Mt4 station. You can see today’s rollover rates by
Opening a Demo Account.
To view today’s rates, select the particular symbol in the MT4 Market watch window, right click and select Specification to view the swap rates as shown above.
The rollover rates for all the currency pairs are in the Swap long and Swap Short rows. Swap long will show you how much rollover you will pay or earn if you sell the currency pair (and have the position open at 5 p.m.). If the number shown is negative, you pay that amount. If the number is positive, you earn that amount.
The amount shown is denominated in the currency used by the account, which means that if the trading account is in U.S. dollars, the rollover amount is shown in U.S. dollars.
Rollover is displayed in the platform for 1 contract of a CFD and for a 1k lot of a currency pair.
You can change the default display for FX by going to System > Options > Trading Settings > General Trading > Dealing Rates Display > choose a value: Deafult, 1K, 10K, 100K, 1000K or previous. Please note that this will also change the margin requirements (MMR), commissions (if applicable), and pip cost values.
Rollover is the interest paid or earned for holding a position overnight, any client holding an open position at the end of the trading day (5pm EST) will be credited or debited rollover.
Most liquidity providers are closed on Saturdays and Sundays, so there is no rollover on these days, but most liquidity providers still apply interest for those two days. To account for that, the Forex market books three days of rollover on Wednesdays, which makes a typical Wednesday rollover three times the amount on Tuesday. Additionally, there is no rollover on holidays, but an extra days’ worth of rollover two business days before the holiday.
Please see below table that indicates how many days of rollover will be applied to open
positions at 5pm EST on each trading day.
No, you are not able to place trades during the weekend. The trading desk opens on Sundays between 5:00 PM ET and 5:15 PM ET. The trading desk closes on Fridays at 4:55 PM ET.
Please note that orders placed prior may be filled until 5:00 p.m. ET and that traders placing trades between 4:55 p.m. and 5:00 p.m. ET may be unable to cancel orders pending execution. In the event that a Market GTC Order is submitted right at market close, the possibility exists that it may not be executed until Sunday at market open. Please use caution
when trading around Friday’s market close and factor all the information described above into any trading decision.
Yes, rollover applies on weekends.
However, spot Forex transactions technically have a 2-day settlement period. Therefore, the weekend rollover is accounted for 2 days later, on Wednesday.
Also, if there is ever a national holiday, where banks in that country are closed, there is generally 0 rollover applied to that countries currency pairs. For example, if there were a US holiday on a Monday, there would likely be no rollover on that Monday, and twice normal rollover on Tuesday.
5 p.m. in New York is considered the beginning and end of the Forex trading day.
- Any positions that are open at 5 p.m. sharp are considered to be held overnight, and are subject to rollover.
- A position opened at 5:01 p.m. is not subject to rollover until the next day, while a position opened at 4:59 p.m. is subject to rollover at 5 p.m.
- A credit or debit for each position open at 5 p.m. appears on your account within an hour, and is applied directly to your accounts balance.
Weekends and Holidays
Most liquidity providers (which include global banks, financial institutions, prime brokers and other market makers) across the globe are closed on Saturdays and Sundays, so there is no rollover on these days, but most liquidity providers still apply interest for those two days.
To account for that, the Forex market books three days of rollover on Wednesdays, which makes a typical Wednesday rollover three times the amount on Tuesday. There is no rollover on holidays, but an extra days worth of rollover two business days before the holiday.
Typically, holiday rollover happens if any of the currencies traded has a major holiday. Therefore, Independence Day in the USA, July 4, closes American liquidity providers, and an extra day of rollover is added at 5 p.m. on July 1 for all U.S. dollar pairs.