EU's outrageous Swap Rates

[Trendswithbenefits]

Have been testing an Algorithm on FXPro this week, I rarely use this account other than testing code…

A 0.05 lot Long position held for over 24 hours on GBPAUD incurred $9.20 SWAP Fee!!!

Can someone from the EU please confirm if this is standard swap fee charge on this pair in Europe or is it an anomaly generated by trading with an EU Broker out of Australia…

Euro Swap on the Left (Long -6.135!!) | Aust. Swap on the Right (Long -0.78!!)

I am fully aware that trading in various currencies can and will have an effect on all fees… But If this is confirmed how high SWAP is in the Eurozone… You guys don’t stand a chance…

[ProfesorPips]

Hi, my broker from EU have -1.34 for long ( still bigger than pepperstone ) but not 6 or 9 $ Regards Greg

[Trendswithbenefits]

Thanks Greg, unfortunately for them, the uninitiated in these forums don’t even know what swap is…

[peterma]

Financing rates (swaps) with Oanda - from EU…

https://www.oanda.com/uk-en/trading/financing-costs/

A few variables before reaching the bottom line in charges - business is business, not EU’s fault

[Trendswithbenefits]

@peterma, appreciate you posting Oanda’s rates… It must be using $AUD that has the Buy Swap skyrocketing… The spread is triple Pepperstone’s as well…

Cheers Peter.