Reference · Market Mechanics
Swap and Rollover: Reading Overnight Charges
Read overnight swap specifications, calculation units and calendar multipliers with a synthetic financing example and reconciliation checklist.
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Published by FxTrusts, a supplier of brokerage and prop firm technology. Prepared with AI-assisted research and drafting; reviewed against the cited public sources. Examples are illustrative. Product links describe our services.
Quick answer
Swap or rollover is an overnight financing adjustment applied under an instrument’s trading terms. Its amount can depend on position direction, quantity, calculation mode, currency and calendar multiplier. Read the symbol specification and account statement rather than assuming a universal rate or triple-charge day.
Identify how the rate is expressed
A financing field may be expressed in points, a currency amount, an annualized percentage or another supported mode. Those are different inputs. A value of minus two points is not automatically a charge of two dollars. The MQL5 symbol documentation exposes swap calculation mode, long and short values and daily multipliers separately. Start with those units before attempting to reconcile an overnight entry.
Direction and quantity both matter
A long position and a short position can have different financing rates. Multiplying a declared per-lot currency charge by quantity is valid only when that is the instrument’s stated calculation method. Percentage or point-based modes need their own conversion. A result for one lot should not be applied unchanged to a fractional lot or to another contract size. Keep each open position’s relevant quantity and direction in the worksheet.
Check the calendar rather than memorizing a weekday
Multi-day financing reflects the applicable settlement or contract calendar and the provider’s implementation. A familiar weekday convention is not sufficient evidence for every currency pair, CFD or holiday period. The symbol’s daily multipliers and current terms should determine the review. Record the rollover timestamp and timezone as well: a local calendar date can differ from the server date used to assess whether a position was held overnight.
Reconcile financing separately from price performance
An account can show a profitable price move but a lower net result after financing and other costs. Keep the trade-price P/L, commission and overnight adjustments as separate components before presenting a net total. If a statement charge looks wrong, compare the effective specification, held quantity, direction, number of charged days and conversion rate. Do not infer an error merely from a comparison with another broker’s differently specified product.
A currency-per-lot financing illustration
Assume a hypothetical contract charges 4 USD per lot for a long position per financing day. A 0.50-lot position with an explicitly specified three-day multiplier produces a 6 USD charge. This example does not identify the weekday or imply that real rates are fixed. A point-based or annual-rate mode would require a different calculation.
| Input | Declared value |
|---|---|
| Long financing charge | −4 USD per lot per financing day |
| Position quantity | 0.50 lots |
| Applied day multiplier | 3 |
| Adjustment | −4 × 0.50 × 3 = −6 USD |
| Information still required for a live reconciliation | Effective specification, cutoff time and any currency conversion |
Implementation checklist
- Read swap mode and units before multiplying the displayed rate.
- Use the correct long or short rate and actual held quantity.
- Verify the effective calendar multiplier, cutoff time and timezone.
- Keep financing separate from trading P/L and document any conversion.
Sources
These documents support the reference. Check the original publication for current requirements and the limits of its scope.
- MQL5 symbol propertieswww.mql5.com
- MetaTrader 5 symbol specificationswww.metatrader5.com
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