CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67.39% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

FAQ

Knowledgebase

Answers to common questions

Rollover Information

No you can not place trades on weekends. Keep in mind that most liquidity providers (which include global banks, financial institutions, prime brokers and other market makers) across the globe are closed on Saturdays and Sundays so there is no trading activity. Trading is available on Sundays between 5:00 PM ET and 5:15 PM ET. Trading closes on Fridays at 4:55 PM ET.

Most liquidity providers (which include global banks, financial institutions, prime brokers and other market makers) across the globe are closed on Saturdays and Sundays, so there is no rollover on these days, but most liquidity providers still apply interest for those two days. To account for that, the forex market books three days of rollover on Wednesdays, which makes a typical Wednesday rollover three times the amount on Tuesday. There is no rollover on holidays, but an extra days worth of rollover two business days before the holiday. Typically, holiday rollover happens if any of the currencies traded has a major holiday. Therefore, Independence Day in the USA, July 4, closes American liquidity providers, and an extra day of rollover is added at 5 p.m. on July 1 for all U.S. dollar pairs.

Yes. Zenfinex is able to transfer to its clients’ competitive swaps rates on both sides of every currency pair.

5 p.m. in New York is considered the beginning and end of the forex trading day. Any positions that are open at 5 p.m. sharp are considered to be held overnight, and are subject to swap/rollover. A position opened at 5:01 p.m. is not subject to swap/rollover until the next day, while a position opened at 4:59 p.m. is subject to swap/rollover at 5 p.m.

A credit or debit for each position open at 5 p.m. appears on your account within an hour, and is applied directly to your accounts balance. You can see the amount under the Swap column on your terminal windows on MT4.

 

Weekends and Holidays

Most liquidity providers (which include global banks, financial institutions, prime brokers and other market makers) across the globe are closed on Saturdays and Sundays, so there is no rollover on these days, but most liquidity providers still apply interest for those two days. To account for that, the forex market books three days of rollover on Wednesdays, which makes a typical Wednesday rollover three times the amount on Tuesday. There is no rollover on holidays, but an extra days worth of rollover two business days before the holiday. Typically, holiday rollover happens if any of the currencies traded has a major holiday. Therefore, Independence Day in the USA, July 4, closes American liquidity providers, and an extra day of rollover is added at 5 p.m. on July 1 for all U.S. dollar pairs.

You can see the amount under the column “Swap” within the Terminal windows on your MT4 account. You will see the amount credited or debited per position daily. Every effort is made to display rollover rates one day before they are posted to your account. However, during times of extreme market volatility, rates may change intraday. To check swaps before they are posted, on the”Market Watch” Windows right click on any currency pair, then click on “Symbols” select the symbol you are interested and click on “Properties”, then find information regarding swaps you are looking for. See image below.

 

 

Rollover is the amount you paid or earned for holding a position overnight. In simple terms rollover is also known as interest or swap. Each currency has an interest rate associated with it, and as forex is traded in pairs, every trade involves not only two different currencies, but their two different interest rates. If the interest rate on the currency you bought is higher than the interest rate of the currency you sold, then you will earn rollover (positive roll). If the interest rate on the currency you bought is lower than the interest rate on the currency you sold, then you will pay rollover (negative roll). Rollover can add a significant extra cost or profit to your trade.