Trading

How to Check Overnight Interest (Swap Rates) on the Mobile MetaTrader 5 (MT5) App

Steps to Check (iOS/Android Example)

1. Open the MT5 App and go to the Quotes interface.
2. Click on the “Quotes” (or “Market Watch,” depending on the app version) in the bottom menu.
3. Select the trading instrument you want to check (e.g., currency pairs, gold, crude oil).
4. In the quotes list, locate the target instrument (e.g., EURUSD) and tap on “Details.”
5. Check the “Swap Fee” (Overnight Interest):
   • On the instrument details page, find “Swap Long” (for long positions) and “Swap Short” (for short positions), which correspond to the overnight interest for holding long or short positions.
   • The value may be displayed in pips or as a fixed amount per lot (e.g., -0.50 USD), depending on the settings.

Important Notes

• Positive/Negative Values:
  • Negative value (e.g., -1.20): You pay interest for holding the position overnight (a fee is deducted).
  • Positive value (e.g., +0.80): You earn interest for holding the position overnight.
• Triple Swap on Wednesdays:
  • Due to market closure over the weekend, the overnight interest for positions held on Wednesday is typically tripled (covering Saturday and Sunday).

Example and Additional Notes

• Broker Differences: The specific value and calculation method for overnight interest may vary by broker. For example, some platforms display interest as an “annualized percentage” or a “fixed amount per lot.”
• Influencing Factors: Overnight interest is based on the interest rate differential between the two currencies in a pair and may include additional broker fees. By following these steps, users can quickly check and manage the overnight costs of their positions to optimize trading strategies. For more detailed data, refer to the broker’s contract specifications or official website.

Overnight Fee/Swap Fee Calculation Methods A) Percentage-Based Swap Calculation: Lot size * Opening price * Contract size * Overnight interest (%) / 360 * Holding days B) Point-Based Swap Calculation: Lot size * Overnight interest * Point value * Holding days C) USD-Based Swap Calculation: Lot size * Overnight interest * Holding days. (For non-USD account currencies, multiply by the exchange rate.)

Overnight Fee Example For example, using the point-based swap calculation formula: Lot size * Overnight interest * Point value * Holding days A) USDJPY: Our company’s USDJPY is quoted with three decimal places, so MT5 considers 115.613 to 115.614 as a difference of 0.001, which equals 1 pip. B) Value of 1 pip = Contract size * Minimum price movement = 100,000 * 0.001 = 100. C) Since the account is in USD, convert JPY to USD using the exchange rate: 100 / 116.119 = 0.86. Thus, 1 pip = 0.86 USD. D) Lot size * Overnight interest * Point value * Holding days = 0.5 * USDJPY short swap (-3.4) * 0.864 * 3 = 4.386, rounded to 4.39. E) The exchange rate (116.119) is based on the price immediately after the server’s daily rollover at midnight.