Cost of carry triggers at 5PM EST (New York time)
Positions held past 5PM EST are subject to Cost of Carry charges or credits. Positions opened and closed within the same trading day are not affected. Whether you're charged or credited depends on the direction of your position and the interest-rate differential between the currencies or instruments involved.
What you need to know
What is cost of carry?
Also called a swap or rollover, cost of carry is the daily interest adjustment for holding a leveraged position overnight. Since you don't put up the full notional value, the broker accounts for the funding cost — or pays you a credit if the rate differential favours your direction.
Charged or credited?
Either is possible. The sign and size depend on your position direction (long or short), the product, and current market rates. For example, individual shares are charged 12% per annum on long positions but only 2% per annum on short positions.
Where do I see it?
Each platform shows current swap rates in a dedicated window before you trade — "Reference Prices", "Currency Reference Rates", or "Instruments" depending on the platform. See the platform-by-platform breakdown below.
Cost of carry by account type
The exact charge or credit depends on which platform you trade on and which product you hold.
CFD/Share Trading
Short: 2% p.a.
Some positions held past 5PM EST will be subject to Cost of Carry charges/credits as detailed in the "Reference Prices" window of your trading platform.
ActTrader Account
(Euros for €-denominated accounts)
Overnight carry charges for ActTrader are indicated in the "Currency Reference Rates" or "Instruments" window of the trading platform.
MetaTrader Accounts
margin requirement of the product
Positions held past 5PM EST are subject to Cost of Carry charges/credits. Forex cost of carry charges are based on interbank convention; other instruments are charged a fixed amount based on the margin requirement of the product.
Holding 1 lot overnight on ActTrader
Using ActTrader's stated average of ~$0.50 per lot per day, here's what cost of carry would look like for one currency lot held past 5PM EST. The actual sign (charge or credit) depends on your position direction and the rate differential.
When the rate differential is in your favour, the position is credited the daily amount. Your account balance rises each night you hold the trade.
When the differential is against you, the position is charged the daily amount. Plan accordingly if you intend to hold positions long-term.
Check the current rate for your specific product in your platform's reference window before holding past 5PM EST. Actual charges and credits vary by instrument and direction.
Tight spreads. Transparent overnight financing.
See exactly what you'll pay or earn before you trade. Try it on a free demo first.