You can read about the concept of rollover and swap fees here.
Swap fees, also known as rollover fees or overnight fees, are charges that you may need to pay when you hold a trading position open overnight. Here’s a simple explanation:
When you trade, you’re usually borrowing one currency and using it to buy another currency. If you keep the position open overnight, the interest rates for both currencies come into play.
The swap fee is the difference between the interest rates of the two currencies you’re trading.
If the currency you bought has a higher interest rate than the currency you sold, you’ll receive a positive swap fee, which means you earn money. But if the currency you bought has a lower interest rate than the currency you sold, you’ll have to pay a negative swap fee.
These fees are usually charged daily, so holding a position open for multiple days means paying swap fees for each day.
Remember, swap fees ONLY apply to overnight positions, so if you close your position before the end of the trading day, you won’t have to worry about them.