Hello traders! We have some fantastic news to share. Starting December 23rd, 2023, we’re making a big move in our trading platform—we’re shifting to a point-based swap rate system for index CFDs.
Why the Change?
We’re saying goodbye to the old percentage-based calculations. Our new point-based method is all about clarity and ease. We want to make understanding your trading costs as simple as possible.
How Does the New System Work?
Let’s break it down with an example.
| Parameter | Value |
| Account Currency | EUR |
| Symbol | EU50 |
| Contract Size | 10 |
| Lots | 1 |
| Swap Rate | -3 |
| Number of Nights | 2 |
| Calculation | (1 Lot × 10 Contract Size × 0.01 Point Size) × -3 Swap Rate × 2 Nights |
| Result | -0.6 EUR |
Triple Charge on Wednesdays
If one of the 2 charged nights is a Wednesday, a triple charge will apply. Here’s an example.
| Parameter | Value |
| Account Currency | EUR |
| Symbol | EU50 |
| Contract Size | 10 |
| Lots | 1 |
| Swap Rate | -3 |
| Number of Nights | 2 (Including Wednesday) |
| Calculation | (1 Lot × 10 Contract Size × 0.01 Point Size) × -3 Swap Rate × 4 Nights (Triple Charge) |
| Result | -1.2 EUR |
Impact on Your Trades
The direction of the market and your open position determines if the swap is positive (credited) or negative (debited).
Got Questions?
Our support team is happy to help! Drop us a line at [email protected] with any queries.
Finally, thanks for choosing to trade with FXGlobe! These changes are just part of our ongoing commitment to improve your investment journey.
