CFD Swaps Explained
Swap is the interest paid or earned for holding a position overnight. Each Currency or CFD has an interest rate associated with it, which can cause significant profit or extra cost to your trade.
When is Swap booked?

20:00 GMT is considered the beginning and end of the trading day. Any positions that are open at 20:00 GMT sharp are considered to be held overnight, and are subject to swap. A position opened at 20:01 GMT is not subject to swap until the next day, while a position opened at 19:59 GMT is subject to swap at 20:00 GMT.

Forex CFD Swap

The swap fee is calculated by the difference in the interest rates that apply to the two currencies in the currency pair that is being trading.

If you buy a currency pair where the base currency has a higher interest rate than the quote currency, then you'll receive interest, and vice versa. For example if you buy an AUD/USD contract, and the interbank interest rates are higher in Australia than in the US, then you may receive a swap fee. On the other hand, if the interest rates are higher in the US, then you may have to pay a swap fee. Compared to the profits and losses of a trade, the swap fee is a relatively small amount.

For more information on Swap Rates for Forex, please review the CFD Swap Chart.

Precious Metals CFD Swap

All open Precious Metal positions are rolled to the next trading day. Depending on whether you are long (buy) or short (sell), you will either be debited or credited swap interest on a daily basis. Any Swap Fees debited or credited will be updated daily. Please note that all open positions at the close of business on Wednesday at 20:00 GMT or 21:00 GMT (depending on Daylight Savings observance) incur a three-day swap debit/credit, and bank holidays will affect the number of days that a position is rolled forward.

Commodity (US Crude Oil) CFD Swap

US Crude Oil has a monthly expiration date. There are no swap for any US Crude Oil contracts offered by Bacera. Clients that hold an open position on the expiration date will have their positions closed at our bid/offer price at 21:15 GMT or 22:15 GMT of the expiration date, due to the observance of Daylight Savings time in the United States (time is based on 5:15 pm ET in New York City).

Example:

A client opens 1 long US Crude Oil CFD contract at 77.00. On the day the contract expires, the price is 80.00. The client's position is closed at 80.00 and the profit is credited to the client's trading account. All pending orders that were placed on the closed position will be cancelled.

Expiration Dates:
Contract Month Bacera Expiration Date
January 16-Dec
February 18-Jan
March 17-Feb
April 18-Mar
May 15-Apr
June 18-May
July 17-Jun
August 18-Jul
September 18-Aug
October 16-Sep
November 18-Oct
December 16-Nov
In order to avoid price volatility, Bacera's Expiration Date may not coincide with expiration dates of physical exchanges.

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