What is overnight funding?
By trading with us on a leveraged account, you are trading on margin. This means that you only provide a smaller amount of deposit of open a position, and we lend you the rest of the money required. If you close your position on the same day, there are no swaps charged. If you hold the position overnight, a small fee is charged to cover the cost of the money you’ve effectively borrowed.
For stock index trades, this funding fee is based on the relevant interbank rate for your traded currency, plus or minus our small admin fee, depending on whether your position is long or short.
For FX and spot metals trades, the funding fee is based on the tom-next rate plus a small admin fee.
It is also important to note that the interbank rates and tom-next rates are variables that are subject to changes daily. Hence, the funding fee may vary each day.
To view the overnight funding, you can do so via either the MT4 platform or via the app. If you are on the desktop, simply right click on the name of the contract and select “Specification”. You’ll see the Swap rates in terms of pips for long and short positions.
To view the Swap rates on the app, click on the quote and select “Symbol Properties”.