Rollover - is the extension of settlements, for which you want to make calculations for the open deal. All positions that remain open after 3:00 UTC, apply rollover interest rate, ie the company debits or credits the funds to the client's account.
Spot position on Forex, as a rule, executed within two working days from the date of execution. Since the calculation of the physical currency is not performed, the daily open positions are transferred to the new date and are subject to payment of the swap until the position is still open. Thus, the calculations are postponed for another operating day.Those positions that remain open at night imply a recalculation of the interest rate, as the position is transferred to a new value date. The rollover is applied to spot positions on the following trading day at 3:00 UTC (World Coordinated Time).
Rollover Calculation consists of two components: the swap and financing of unrealized profits or losses on open positions.
Swap rates are calculated based on the first level of the swap bank, as the difference between the refinancing rates plus 2% per annum of the market interest rate for the next day.
Unrealized profit or loss is calculated as the difference between the initial trading value of the position and the price of the currency traded at the end of the day at 3:00 UTC.AZA does not close the open position and then re-open them. Depending on the current interest rates, the Company debits or credits the trading account the amount needed to maintain an open position until the next day.
SWAP Free Islamic Accounts
AZA enables the client to use Shariah SWAP Free accounts for Islamic investors who are not allowed to pay interest following their religious beliefs. The corresponding account meets all the requirements of Sharia and the principles set out in "Islamic finance". You can independently enable SWAP Free mode in the trading terminal for each account. In this case, when trading on an account with SWAP Free enabled, a commission will be charged.