What is Swap?
In forex, a Swap is the interest you earn or pay on a trade that you keep open overnight. Swaps are classified into two types: swap long (used to keep long positions open overnight) and swap short (used for keeping short positions open overnight).
Example: If you buy a currency with a higher interest rate than the one you borrow, the net interest rate differential will be positive, and you will profit. On the contrary, If the interest rate differential is negative, you will be charged.
From Monday to Friday, the Swap is charged only once. On Wednesdays, the Swap is charged triple. Our server time is 23:00 pm GMT+1 so the rollover applies at that time.