When you hold a position overnight, it may attract a positive or negative swap (depending on the asset traded), which is the cost of postponing the settlement of a transaction. This is the rollover fee. A positive swap will result in some profits for the trader, while a negative swap will be a small loss. While markets are closed on Saturday and Sunday, there is no rollover yet banks still calculate interest on these weekend positions. At UM Capitals, we apply a 3-day rollover strategy on Wednesdays to level the time gap.
UM Capitals applies rollover fees at 22:00 GMT, the standard banking daily cutoff time. Investor trading accounts will earn swaps within one hour for all trades open at 22:00 GMT.