**What are Swap Fees and how are they calculated?**

Swaps are the interest (fee/commission) you either receive or pay for a trade that you leave open overnight. Swap fees are different depending on the direction of your trade: **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 calculate the Swap Fee for leaving open short positions **overnight** while **Swap Long** is used to calculate the fee for keeping **long positions** open overnight.

**How do I determine swaps?**

**Point Size * Lot Size * Contract Size * Swap Rate** is the formula for the swap short cost.

Point Size refers to the size of a Point in decimal places. Since the point is the last digit in the price, one point for EURUSD equals **0.00001**.

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

An example for a 1 lot trade on EURUSD with a Swap Short value of 6.8255 on EURUSD:

**0.00001 * 1 * 100,000 * 6.8255** **= 6.8255 USD**

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

An example for a 1 lot trade on EURUSD with a Swap Long value of -10.23506:

**0.00001 * 1 * 100,000 * -10.23506** **=** **-10.23506 USD **

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

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