We are receiving many calls in relation to swap charges so we thought it would be helpful to explain in more detail how we calculate these fees. The percentage rate is an annual amount, and in some markets we have seen large increases due to the current market conditions.
The calculation is as follows:
(Position open price x Contract size x SWAP rate % / 360 days) x No of lots OR CFDs.
Please see an example for USOIL swap rates below:
If you bought 10 CFDs @ 8.207
10 x 10 x 8.207 x 2.3 / 360 = -$5.24
If you sold 20 CFDs @ 8.195
20 x 10 x 8.195 x 2 / 360 = +$9.11
Daily swap rates can be found on the product information on the platform.
If you have any questions, please do not hesitate to contact your Account Manager.