Forex Rollover Interest Rates
In Forex trading, the concept of 'rollover' is interesting and important. When a Forex position moves to the next delivery date, rollover comes into play. This can work to your advantage, or against you, depending on whether it adds a stream of profit or loss to your equity.In the majority of currency trading positions, traders must close their positions within two days. Rollover extends the settlement date of an open position. When you opt for an extension of your open trade, you are closing your existing trade at the day’s closing rate and opening a new position the following trading day. This is otherwise known as tomorrow next.Debits or credits for every position opened at 22:00 GMT will be reflected in your Alvexo trading account within an hour. There is no rollover on weekends, since the markets are closed on Saturdays & Sundays.You should remember that banks - on the other hand - will charge you interest during this time. We apply three days of rollover on Wednesdays. There are no rollovers on holidays, but there is an added day of rollover two days prior to the holiday.
LIBOR and LIBID Interest Rates
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