Swap
The specificity of the interbank market is such that leverage the outstanding customer can not hold more than one day, because when working with a leverage customer actually performs two operations through a broker.
Consider a simple example:
Buying a lot EURUSD at the rate of 1.5 (recall 100,000 euros for 150,000 dollars), the customer thereby gives the following instructions broker:
1.vzyat U.S. dollars in credit in the U.S. (for example, at 3% per annum)
2.obmenyat of the euro and the euro put on deposit in the euro area (for example, by 2% per annum).
The difference in interest rates between the two countries amounts to 1%, and this percentage the broker has to pay on the loan. This operation can be passed on to the client. 1% per annum subject to an amount of 150,000 dollars and divided by 365, resulting in about 4.1 dollar per day.
This is called a swap, that is the commission for carrying the position overnight. The example is very simplistic, and therefore the figures obtained it tangible for the client deposit. In fact, the Alpha Forex swaps are set once a week, they can always be seen in the terminal, and they constitute a negligible fraction of the transaction.
Pereotkryvaya client position every night, the broker will automatically debit the customer with a swap, eliminating him from the physical delivery of currency.
