Spread & swap cost calculator

Enter your broker's spread, commission and overnight swap, and see what every trade, and a month of trading, really costs.

How it works

  1. Spread cost = spread (in pips or points) × the pip value × your lot size. You pay it on every trade when you open.
  2. Commission is usually quoted per lot per side or round turn. Enter the round-turn figure (open + close).
  3. Swap is charged (or paid) for every night you hold at the broker's rollover. Most brokers charge three nights on Wednesday for forex and on Friday for some indices.
  4. Monthly cost = cost per trade × the trades you take per month.

Frequently asked questions

How much does the spread cost per trade?

Spread × pip value × lots. A 1.2-pip spread on EUR/USD with 0.10 lots costs 1.2 × $1 = $1.20 per trade, about R22 at R18/$.

What is a swap in forex?

An overnight financing charge (or credit) for holding a position past the broker's daily rollover. It comes from the interest rate difference of the two currencies plus the broker's mark-up.

Why is the swap triple on Wednesday?

Forex trades settle two days after the trade date, so a position held over Wednesday night is financed over the weekend as well and is charged three nights. Check your broker's triple-swap day for each instrument.

Where do I find my broker's swap rates?

In MT5, right-click the symbol in Market Watch, choose Specification, and look for "Swap long" and "Swap short" (usually in points). Enter them here as shown, negative for a charge.

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