SWAP in foreign exchange refers to the interest charged on an overnight transaction.

SWAP is charged daily for all open positions after the end of the trading day. There are two types of SWAP: long SWAP (used to keep long open positions overnight) and short SWAP (used to keep short positions open overnight).

They are expressed in each batch of points and vary according to the financial instrument you are trading.

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In the foreign exchange market, like all trading markets, going long means buying assets in anticipation that your position will appreciate. Shorting means that once you sell a position in the trading market, the value of the same position will fall. Traders are led by an old saying: “Buy low and sell high.”

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