For positions open at your broker’s “cut-off time” (usually 5:00 pm ET), there is a daily “rollover fee“, also known as a “swap fee” that a trader either pays or earns, depending on the positions you have open.
If you do not want to earn or pay interest on your positions, simply make sure they are all closed before 5:00 pm ET, the established end of the market day.
Since every currency trade involves borrowing one currency to buy another, interest rollover charges are part of forex trading.
Interest is PAID on the currency that is borrowed.
Interest is EARNED on the one that is bought.
If you are buying a currency with a higher interest rate than the one you are borrowing, then the net interest rate differential will be positive (i.e. USD/JPY) and you will earn interest as a result.
Conversely, if the interest rate differential is negative then you will have to pay.
Note that many retail forex brokers do adjust their rollover rates based on different factors (e.g., account leverage, interbank lending rates).
Please check with your broker for more information on their specific rollover rates and crediting/debiting procedures.
Here is a table to help you figure out the interest rate differentials of the major currencies.
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