Rollover Armada. Help me here!

Beginner Questions
1

Hi everyone.

I am started with forex a couple off weeks ago but can not understand rollover fees on some brokers.

So for example:

The pair EURMXN armada markets show a premium sell off 112 (financing short in points).

It can not bee 112% a year right? It is to big. Can not be 11,25% a year too because the pair EURTRY show 15.3, so 1,53% for this pair is to little.

Would be so much easier if the brokers put this charts with % per day/monthy or year. I do not know why some off them put something so hard for a newbie understand. lol

So if i go short 1 lot (100K) how much will be the swap?

Sorry about my english. I can not put any links because i am a new member, if i could would be a lot easier to explain myself.

2

Hi, i have seen carry trades expressed in both pips and the base currency, based on a certain lot size.

Are you sure yours was in pips? It doesn’t quite seem right for pips or the euro gain to me…

3

No i am not sure. For pips it is pips per lot for 1 night right?

Look this link:

www(dot)armadamarkets(dot)com/fx-trading/exchange-forex-account/

4

Hi, yes it’s confusing!

I think the 112 points is in MXN, based on the 100000 EUR lot size. So at 18 exchange rate this gives 6 EUR interest benefit per night.

Does that seem to make sense?

5

Thank you for your help.

But it doesnt make any sense for me.

How much pips is 1 point? If i hold one lot one year 365x6 eur = 2190 or 2,19%. It is to little, for other pairs is worse, do not look right.

The bad thing is that demo account do not have all pairs. So to test them we need do go live before even know this. It’s terrible. I am already starting think it is to confuse us.

I will buy some pairs that have on the demo account and do the maths.

6

Hi

1 pip is 10 MXN for a 100000 EUR lot size, which implies 11.2 pips interest, making it 112 MXN.

Oanda has a great currency interest rate calculator. I put in EUR MXN and interestingly, for short, it is 0.39% lend and 3.25% borrow, whereas for long it is 0.125% borrow and 4.25% lend, despite the actual rates.

It also has a field for number of hours. Goal seeking, 6 EUR implies 18.5 hours, whereas 7.84 EUR (on Oanda) is earnt for 24 hours. This gives Oandas annual rate of 2.86% which matches the above.

Would be keen to hear what you find out when you do the demo maths!

7

If I understand correctly then if I am opening a 1 lot long positoin at Armada Markets on EUR/TRY then I have to pay 52.7 TRY and if I go short 1 lot then I get 15.3 TRY overnight.