When trading spot Foreign Exchange (Forex trading), all Forex trades will settle two business days from date of entry, as per market convention.
Vantage FX is not involved in the physical delivery of trades, thus all positions left open at the end of the trading day will be rolled over to a new value date and will therefore have exposure to a swap charge or credit.
Please note: For Forex trades held open from Wednesday to Thursday as per server time, the new value date becomes Monday, rather than the weekend. This means the rollover charge on a Wednesday evening will be three times the usual value indicated on the table.
As cash indices and commodities are same day settlement, holding trades over the weekend from Friday to Monday will carry three times the usual value as it accrues the three days of swap.
Also please note there is no overnight swap on Crude oil as they are directly derived from the Futures contract.
Forex Swap rates are affected by market conditions and the interest rate of the affiliated countries of the chosen Forex currency pair. The daily released rates are calculated by our financial institutional partners using risk-management analysis. Each Forex currency pair has its own Forex swap charge. Interest is paid on currency sold and received on currency bought.
For the most up-to-date Forex swap rates, please refer to the Market Watch panel in our MetaTrader 4 (MT4) platform.
Simply follow the steps outlined below:
1. Locate your product in the ‘Market Watch’ window. Right click, and select ‘Symbols’.
2. Select the product you wish to view from the list. Select ‘Specifications’.
3. Here you can view the Forex swap rates for both long and short positions.
Vantage International Group Limited is regulated by CIMA.
You may prefer to apply for an account with our Australian Regulated Entity – Vantage Global Prime Pty Ltd.
Vantage Global Prime Pty Ltd – an ASIC regulated entity offers additional regulatory protections and safeguards that will not apply when opening account under our Cayman Islands regulated entity. These safeguards include restricted leverage, negative balance protection, a mandatory 50% margin close out rule, client money protection under ASIC Client Money Reporting Rules 2017 and access to an external dispute resolution body – the Australian Financial Complaints Authority (AFCA). Click here to open an account with Vantage Global Prime Pty Ltd.
Alternatively, you can continue with your current application under our CIMA regulated entity.