Spreads, Commission & Swap

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Spreads, Commission and Swap

The Spread is the difference between Bid Price and Ask Price quoted for an instrument. For example, when the Ask Price (or Buy Price] is 1.14345, the Bid Price (or Sell Price] is 1.14347, the spread will be 0.00002 (1.14347 – 1.14345]. The spread is one of the key costs involved in investment products. Tighter spread will always give investors better value.

Commission is another potential cost that clients should consider. A fixed amount of commission will be charged to your account upon execution of any order for some instruments on our platform.

Our Spreads and Commission

Product Standard Account Advantage Account Alpha Account
SYMBOL MIN SPREAD COMMISSION MIN SPREAD COMMISSION MIN SPREAD COMMISSION
AUDUSD 1.7 0 USD 1.2 0 USD 0.0+ 6 USD
EURUSD 1.6 0 USD 1.2 0 USD 0.0+ 6 USD
GBPUSD 2.1 0 USD 1.6 0 USD 0.5 6 USD
USDCAD 2.0 0 USD 1.5 0 USD 0.5 6 USD
USDJPY 1.7 0 USD 1.2 0 USD 0.0+ 6 USD
NZDUSD 2.2 0 USD 1.7 0 USD 0.5 6 USD
USDCHF 2.2 0 USD 1.7 0 USD 0.5 6 USD

Swap

Swap Rate

The Swap is the interest paid or earned for holding a position overnight. Each investment product has an interest rate associated with it, and every trade involves two different interest rates. The Swap can add a significant extra cost or profit to your trade. The trading platform automatically calculates Swaps for you.

22:00 GMT(+1] is considered to be the beginning and the end of a trading day. Any positions which are still open at 22:00 GMT(+1] are subject to rollover. Rollover is the process of the settlement of an open position overnight.

There is no settlement on Saturdays and Sundays when the markets are closed, but banks still calculate interest on any position held over the weekend. For this reason, a 3-day swap applies on Wednesdays or Fridays.

BCR Swap Rate

BCR offers a transparent Swap Rate based on current interest rate. To view BCR Swap Rates, please log in to your MT4 account.

Swap Rate Calculation

The formula used to calculate the swap charge depends on the CFD instrument you are trading.

Forex, Metals, Commodities, Indices: Pip Value * Swap Rate * Trade lots * Number of days held overnight.

For Example: If you BUY 1.00 lot of EURUSD and hold it overnight for one day with a long rollover of 6.11 Points, then the swap charge would be 1.46 USD (AUDUSD@0.68420] * 6.11 Points * 1.00 * 1 = 8.93 USD.

For Example: If you SELL 1.00 lot of USDJPY and hold it overnight for one day with a short rollover of -16.88 Points, then the swap charge would be 1.05 USD (AUDJPY@95.108] * -16.88 Points * 1.00 * 1 = -17.75 USD.

Shares: Open price * Contract size * Annual Swap Rate / 360 * Trade lots * Number of days held overnight ( * or / ] Fx Rate.

For Example: If you BUY 1.00 lot of AAPL at $188.00 and hold it overnight for one day with annual swap rate of -15%, the charge would be $188 * 100 * -15% / 360 * 1.00 * 1 / 0.68420 = 11.44 USD.

For Example: If you SELL 1.00 lot of DIS at $88.00 and hold it overnight for one day with annual swap rate of -15%, the charge would be $88 * 100 * -15% / 360 * 1.00 * 1 / 0.68420 = 5.36 USD.

How are the Swap Rates determined?

The swap rate depends on a range of factors, including the market interest rates of the two currencies, broker fees, short-term/forward market conditions, etc.

SWAP-FREE ACCOUNTS

Swap-Free Accounts incur no swaps or interest charges on overnight positions. Instead, the account holder is charged an administration fee that is deducted from the balance of the account.

If a Swap-Free Account holds positions after the end of the Friday trading day, then a fee will be deducted from the balance of the account. Please note, some products may be subject to adjustment fees without notice.

SYMBOL CHARGE SYMBOL CHARGE
EURUSD $15 per lot USDCNH $15 per lot
USDJPY $15 per lot USDMXN $60 per lot
AUDUSD $15 per lot USDNOK $15 per lot
GBPUSD $15 per lot USDSEK $15 per lot
NZDUSD $15 per lot EURNZD $15 per lot
USDCAD $15 per lot USDZAR $60 per lot
USDCHF $15 per lot EURNOK $15 per lot
EURCHF $15 per lot EURSEK $15 per lot
EURGBP $15 per lot AUDCHF $15 per lot
EURJPY $15 per lot XAUUSD $15 per lot
CADJPY $15 per lot XAGUSD $15 per lot
AUDNZD $15 per lot XAGUSDmin $3 per lot
AUDJPY $15 per lot XTIUSD / #CL $50 per lot
GBPCHF $15 per lot XBRUSD $50 per lot
GBPJPY $15 per lot XNGUSD $150 per lot
CADCHF $15 per lot #AUS200 $15 per lot
GBPAUD $15 per lot #GER40 $15 per lot
CHFJPY $15 per lot #EUSTX50 $15 per lot
AUDCAD $15 per lot #FRA40 $15 per lot
EURAUD $15 per lot #ESP35 $15 per lot
EURCAD $15 per lot #UK100 $15 per lot
NZDJPY $15 per lot #CHN50 $15 per lot
NZDCHF $15 per lot #JPN225 $15 per lot
GBPNZD $15 per lot #US500 $15 per lot
GBPCAD $15 per lot #US30 $15 per lot
NZDCAD $15 per lot #US100 $15 per lot
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Risk Disclosure:Derivatives are traded over-the-counter on margin, which means they carry a high level of risk and there is a possibility you could lose all of your investment. These products are not suitable for all investors. Please ensure you fully understand the risks and carefully consider your financial situation and trading experience before trading. Seek independent financial advice if necessary before opening an account with BCR.

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