How does one determine rollover, if you have pay or receive?
If i look at the image the 3 different brokers each have different rates, futhermore it seams to me that markets.com have a different way of calculating their rates.
Please shower me with some of your wisdom that I may kno how to calculate rollover rates for my open positions!
P.S. GMFX should be FXGM, I made a lil mistake! :54:
You receive rollover whenever a positive number is shown (e.g. long EURUSD, long GBPUSD, and short USDCAD with FXGM); you have to pay rollover whenever a negative number is shown (e.g. long EURUSD, short GBPUSD, and long USDCAD with FXDD).
Markets.com have a weird (even incorrect, since they say ‘in pips’) way of showing swap; I guess their swap is -0.5 pips for short EURUSD, +0.4 pips for long EURUSD etc.
Cheers,
O.
Thank you very much Oliver… So by looking at the image I understand that for those 3 pairs FXDD is the most expensive, FXGM the cheapest and Markest.com are in the middle when it comes to Rollover rates. I am thinking of starting a live account with Markets.com, if you don’t mind me asking, how do their rates compare with other brokers in your experience?
Also how do I calculate the profit/loss I made by keeping a position open overnight, Ill create a scenario below to make an explanation easier.
Open position: 100 pips in profit on a EURUSD long at 0.01 leverage (1000 units) using the FXGM rate of 0.08. Is there a formula to calculate this?
If you want to calculate how much money swap will cost you, just use the pip value claculator here on BabyPip’s ‘Tool’ page.
In your example, a micro lot position, pip value is USD 0.1; so you’d earn an extra 0.08 cents rollover, rounded up to 1 cent.
O.