**A swap is what?**

The interest (fee/commission) you either receive or pay for a trade that you leave open overnight is referred to as a swap. Swaps come in two flavors: **long swaps and short swaps**.

Please be aware that the swap on **Wednesday** is **three times** as much as it charges for the following weekend.

**How can I look up the Swap specifications?**

In the **Market Watch** section, right-click on a **Pair**.

Choose **Specification**

To check values for a **long/short** swap, scroll below.

**What distinguishes a swap short from a swap long?**

**Swap Short** is used to maintain open short positions **overnight** while **Swap Long** is used to maintain open **long positions** overnight.

**How do I determine swaps?**

**One Point * Trade Size * Swap Short** in Points is the formula for the swap short cost.

Example: **0.00001*100,000*6.8255** = 6.8255 Dollars for EUR/USD.

This means that if you kept 1 lot of EURUSD overnight, you would receive **$6.8255** in swaps.

Since the point is the last digit in the price, one point equals **0.00001** in EURUSD.

Transaction Size is equal to Lots times **100,000** (or 100,000 for contracts).

With a sell trade on **EURUSD**, a swap short in points equals **6.8255**.

**One Point * Trade Size * Swap Long** in Points is the formula for the swap long fee.

Example: **0.00001*100,000*11.44605** = **-10.23506 USD for EUR/USD**.

This means that if you kept 1 lot of EURUSD overnight, you would pay **$10.23506** in swaps.

Since the point is the last digit in the price, one point equals** 0.00001 in EURUSD**.

Trade Size on a Long position in the EURUSD is equal to Lots * **100,000** (Contract Size) = 100,000 Swap Long in Points, which equals **-10.23506.**

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