- A swap refers to the interest (fee/commission) that you either earn or pay for a trade that you keep open overnight. There are two types of swaps: swap long (used for keeping long positions open overnight) and swap short (used for keeping short positions open overnight). They are expressed in pips per lot and vary depending on the financial instrument you are trading.
- You can check the swaps from your MetaTrader from the specifications section of the Pair/Instrument.
- You can have a look by creating a Demo Account prior to going Live, by clicking/tapping here.
Let's go through the process:
> Right-click on the Instrument.
> Select Specification.
> You will see the swap charges for Long and Short positions in the specification list.