Spreads & Swaps
A swap rate also known as “rollover fee” is an interest that is either paid or charged to you when you keep a position open overnight.
Each currency pair has its own swap rate and is measured on 1 lot. At midnight GMT+3, Axiance rolls over automatically any open positions to the next settlement date and open an identical position for the next business day.
Check the examples below to see how Axiance calculates its rates:
The above formula is applied on Forex pairs, Metals, Energies and Cryptos
- 1 lot SHORT on EURUSD with account currency in USD:1 * 100,000 * 0.39 * 0.00001 = $0.39
- 1 lot LONG on XAUUSD with account currency in USD:1 * 100 * -4.976 * 0.01 = $ -4.98
- 1 lot LONG on USOILCash with account currency in USD:1 * 1000 * -4.52 * 0.001 = $ -4.52
- 1 lot LONG on BTCUSD with account currency in USD:1 * 1* -1593.45 * 0.01 = $ -15.93
Note: The swaps are applied at 00:00 GMT+3 time when a position is rolled over.
Triple Swap takes place on Wednesdays for FX, Metals, Shares and Cryptos.
Triple Swap takes place on Fridays for Indices, Energies and Futures.
Triple swap occurs to take account the weekend when market is closed.
Trade with Axiance and benefit from competitive spreads.
For every trade you make, you’re given a “bid” and an “ask” price. The “bid” is the price at which you sell the base currency and the “ask” at which you buy it. Spread is simply the difference between these two prices.
Third parties like liquidity providers or banks bear the risk of loss when facilitating your trade, which is why they keep a part of each trade also known as spread.
Our spreads are calculated in “points”. For example, if the bid price for a stock is 2100 and the ask price is 2101, then the bid-ask spread for the stock in question will be referred to as 1 point.
As a generally accepted rule, you can minimise points by trading only during favourable hours, when many buyers and sellers are in the market. The more buyers and sellers trade for a given currency pair the more market makers narrow their spreads.
Find below our minimum spreads across 30+ currency pairs.
*The spreads in the table have been taken from a VIP account. For live spread information, please refer to your trading terminal.