Long/Short position Swap

🤝 Help
1

Hi guys,

Could you please tell me what does “Long/Short position Swap” mean? How many units are it applied for?

And what is swap time and expiry date?

How can I check the fees I have to pay for trading CFDs?

2

This is one of the help pages which address those questions.

Look at Instument details. This shows swap (better thought of as overnight interest) charged per long or short unit at 10pm. It is charged 3 times if you leave a position open over a weekend.

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3

Thank you for the help :heart::heart::heart:

4

The link mentions gold only. The example is 100 gold units. What is a unit? $USD?

So if I buy a long CFD of a stock, say $100 worth of visa shares. Is it $100 X swap rate for the overnight charge?

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5

@pipo Not quite. The swap is interest charged per share. So going long on 100 Visa shares will cost 100 x swap rate for the overnight charge. You can see that swap cost varies with price. The cost for AMZN with a share price of $2450 is 0.567, whereas with FB with share price $230 it is 0.0533.

A good way to learn what happens is to make a transaction in the practice account and analyse what happens.

6

Ok, understood. I have some CFDs open on the practice account. Rather than calculating the overnight cost myself, is it already calculated somewhere for the positions I have open? I can’t see the info anywhere. I think you can see the figure when you’re opening a position, but after it’s open I can’t see it anywhere.

7

That is correct. If you want to check the swap cost of a current open position you could always start creating a new position, read the information, then press the back button.

Cost can change by a small amount from day to day.