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Swap Rates & Rollovers

Margin FX Contracts & Swaps

Our swap rate for Margin FX Contracts is a variable rate that is dependent on the currency pair, the applicable swap rate in the interbank markets for the relevant dates, the size of the Position and the AxiCorp Spread.

The interbank swap rate reflects the interest rate differential between the two currencies, the demand for funds in those currencies and the prevailing market conditions.

Example: If you hold a long Australian Dollar / US Dollar (AUD/USD) Position over End of Day and interest rates are higher in AUD than in USD, then you will normally receive a Swap Benefit at the AxiTrader Swap Rate. This is because you are long the high yielding currency. Conversely, if you were short AUD/USD then you will normally incur a Swap Charge at the AxiCorp Swap Rate. In circumstances where the two interest rates are near parity, almost equal to each other, a Swap Charge may be imposed for both Long and Short open Positions.

Bullion Swaps

The AxiCorp Rate for Bullion CFDs is a variable rate dependent on the applicable swap rate in the Underlying Instrument for the relevant dates, the size of the Position and the AxiCorp Spread.

The Swap Charge or Benefit is calculated by multiplying the total notional value of the Position by the swap rate.

Example: In general, interest rates on United States Dollars are higher than Bullion lending rates. In this scenario, Long parties to a Bullion CFD would typically incur a daily Swap Charge for Contracts held over the daily close. Conversely, Short parties to a Bullion CFD will typically receive a Swap benefit.

Future CFD Swaps

There is a cost incurred when rolling Future CFD contracts. The cost is equal to the value of the bid – offer spread in the AxiTrader Price.

Rollover arises when the Underlying Instrument of the AxiTrader Product is due for expiry and AxiTrader commences deriving its price from the next serial Futures contract. As the next serial Futures contract will trade at either a discount or premium to the expiring Futures contract the change in Underlying Instrument for revaluation purposes will cause a profit or loss on an AxiTrader account. The Swap Fee applied by AxiTrader adjusts for this revaluation but Contracts that are rolled do incur the cost of the bid – offer spread.

In order to minimise the bid – offer spread AxiTrader typically switches from using the front month to the next serial contract 1-2 trading days prior to the Underlying Instrument’s last trading day when liquidity can be limited.

See our Swap Rates

Access our real-time swap rates through the MT4 trading platform

After you've installed MT4...

  • Right click on a product in the 'Market Watch' window and select 'Symbols'
  • Select the product from the list and then select 'Properties'
  • Swap rates for both long and short positions will appear in the window