The PRIME Account allows our clients to trade FX Currency pairs plus metals on a raw feed and pay commissions outside the spread.
For the latest Swap rates please login into BlackPearlFX MT4 Trading Platform. Right click > Market Watch Select > Symbols Then choose the currency pair you wish to check and select Properties
What is a Swap Rate?
The swap charge is the interest rate differential between the two currencies pairs you are trading. A swap/rollover fee is charged when a position is kept open overnight. The swap charge is determined based on the interest rates of the two countries involved and it is calculated according to whether your position is long or short. Look at the example below to understand a little bit better how the Swap rate works: The Swap calculation on Forex works as follows:
Depending on the position direction, a swap size is taken from the "Long positions" or "Short positions" field. The calculation is performed in the following order:
• Calculating the point price in a symbol profit currency considering a position volume
• Converting the obtained price into a client's deposit currency
• Calculating a swap sum using the formula shown above
For example, in case of Buy 5.00 USDTRY with the contract volume of 100 000 and Forex profit calculation type, the point price is calculated as follows:
5 * 100 000 * 0.00001 = 5 TRY
If the deposit currency is USD, the price is converted at the current rate:
5 * 0.2274587 = 1.14 USD (with rounding)
If the swap for long positions is -11.35, the total sum is as follows:
1.14 * (-11.35) = -12.94 USD
Please note that BlackPearlFX calculates swap once for each day of the week that a position is rolled over, while on Wednesday night swap is charged 3 times to account for the weekend. If you are a Broker or an Institutional client contact us via email at firstname.lastname@example.org and ask a member of our staff for our Inter Bank Swaps.