What is swap?

“SWAP= -35.92, PROFIT= 3.22, TOTAL PROFIT= -32.70”

im trading my demo account with ibfx and it says -35.92 for “SWAP.” what is swap and why does it do this to me?

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Seems like you kept your trade opened for too long… Swap is the overnight interest rate paid or deducted on the open positions by the Forex broker.So i guess you must be trading AUD or NZD pairs or u opened a trade since a long time ago and forgot about it! :smiley:

yup i traded the aud/nzd lol. so do all pairs have swap or all except the majors?

Yupp all the pairs have swap,even EUR/USD…If u are buying a higher currency which has a higher interest rate as compared to it’s counter currency than the swap will be positive and vice versa.
Following are the interest rates of some of the major currencies:

AUD	3.25%	
NZD	2.50%	
CAD	1.00%	
EUR	0.75%	
GBP	0.50%	
CHF	<0.25%	
USD	<0.25%	
JPY	<0.10%	

U were short on AUD/NZD.Right?

yea it was aud/nzd. i held it for at most 4 hours, although it was around 23:00-24:00 NY time so thats most likely how it got me.

also, sorry about title and op mods. wont happen again.

Yeahh …Than i guess that your trading volume was much heavy.What was your lot size?