MT5 swap explained: what it costs and where to see it

Swap is part of what a trade really earns or costs. When it is charged, how to calculate it and where to find it in MetaTrader 5.

What swap is

Swap is the overnight financing charge or credit that a broker applies when you keep a position open past its rollover time. If the swap is positive, it is credited to your account. If it is negative, it is deducted. It is part of what a trade really cost or earned, which is why a trading journal should record it and why the result shown in MetaTrader 5’s profit column is not always the whole story.

Swap is not the same for every trade. It depends on the instrument, the direction (long or short), the size and the broker’s own conditions. For currency pairs it is generally related to the interest-rate difference between the two currencies, plus the broker’s adjustment. For other instruments the broker may use a different method.

When swap is charged

At rollover. Swap is usually applied once for each time a position is held across 00:00 on the broker’s server clock. Intraday trades that close before then pay none. See MT5 server time for which clock that is.
Triple swap day. Because markets are closed at the weekend, brokers usually charge three days of swap on one weekday. For forex and gold that is commonly Wednesday, and for some other instruments such as indices a different day, but it is set by the broker, so check yours.
Long and short differ. The swap for buying and for selling the same symbol are usually different numbers, and one of them can be positive.

How it is calculated

Swap type	How the broker states it	What you do
In points	A number of points per lot per night	points x point value x lots, for each night
In money	A currency amount per lot per night	amount x lots, for each night
In percent	An annual percentage rate on the position value	value x rate / 365 (or 360), as the broker defines it

Take an invented example. A symbol states a long swap of -6.0 in points, the point is worth $0.10 per lot, and you hold 0.50 lots for two nights over a Tuesday and Wednesday, where Wednesday counts triple. That is four nights of swap: 4 x -6.0 x $0.10 x 0.50 = -$1.20. The numbers are made up for illustration. Read your own broker’s figures; do not trust an example, including this one.

Where to see swap in MetaTrader 5

What you want	Where to look
The swap rate of a symbol	Open Market Watch (Ctrl+M), right-click and choose Symbols (or press Ctrl+U), select the symbol and open its specification. The long and short swap values are listed there.
The swap on an open position	In the Trade tab of the Toolbox, the Swap column shows what has accrued. If it is hidden, right-click the table header and enable it.
The swap on a closed trade	In the History tab, the Swap column shows what was charged or credited. Right-click the table to show or hide columns.
The total including costs	The totals row of the History tab sums profit, commission and swap. Check your own terminal, because the profit column on its own does not include them.

Column names and menus vary a little between builds, so if you do not see a column, right-click the table and look for the column list.

Swap-free accounts

Some brokers offer swap-free accounts for traders who cannot receive or pay interest. These accounts usually do not charge swap in the usual way, but brokers may replace it with a fee or different conditions. Read your broker’s terms. If you run such an account, a journal that shows the net result of each trade will show you the real cost, whatever the broker calls it.

Why it matters for a journal

Net result. A trade can make money in price and still lose after swap, especially a long hold against a negative swap. The honest figure is profit plus commission plus swap.
Swing traders. If you hold for days, swap is part of your plan. See the swing trading journal guide.
Comparing brokers. The same trade can cost different amounts at different brokers. If you use two, the journal shows it.
Your statistics. Win rate and profit factor look different on net figures than on price-only ones.

AI Trading Journal records the net result of every closed position, the sum of profit, commission and swap over all its deals, so a position closed in parts is one entry with the true total. That is what makes the dashboard, the calendar and the Excel report agree with your balance. The local journal guide explains what is saved for each trade.

Honest limits

Swap values and rollover rules belong to your broker and change over time. Always read the symbol specification in your own terminal.
The examples on this page use invented numbers.
Whether swap is permitted or charged on your account type depends on your broker and on religious or legal considerations that this page does not cover.
This is information about how a platform works, not trading or financial advice.

Swap-free accounts remove the charge but often add other costs: see MT5 swap-free account explained.

What is swap on MetaTrader 5, in one paragraph

Swap is a fee or credit applied when a position stays open past the broker's rollover time. It shows in its own column in the Trade and History tabs, it can be negative or positive depending on the direction and the symbol, and some accounts are marked swap-free. A trade closed before the rollover carries no swap. Your final result for a position is profit plus commission plus swap, as the commission page shows.

The trading cost calculator includes swap with commission and spread in one total.

The swap rows of the Specification window are described in MT5 symbol specification explained.

Frequently asked questions

What is swap in MT5?

Swap is the overnight financing charge or credit applied when a position is held past the broker’s rollover time. Positive swap is credited to your account and negative swap is deducted.

Where can I see swap in my MT5 trade history?

In the History tab of the Toolbox there is a Swap column. If it is hidden, right-click the table and enable it. Check your totals row for the sum including commission and swap.

What is triple swap?

Brokers usually charge three days of swap on one weekday to cover the weekend. The day depends on the instrument and the broker, commonly Wednesday for forex and gold.

Does AI Trading Journal include swap?

Yes. The result of each closed position is profit plus commission plus swap, so the totals match your balance.

Do I pay swap on trades that close the same day?

Usually not. Swap is applied when a position is held across the broker’s rollover, so a trade closed earlier on the same server day normally pays none.

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