Multi-license forex brokerage FxPro said on Friday it is changing the date for triple swap payments ti Friday from Wednesday. The change will come into effect as of 6 February.
“We believe this change will be fairer for our clients, as any calculations made to account for Saturdays and Sundays will now take place closer to the weekend,” the broker said in a notice.
Swap is calculated for each day that a position is rolled over. Once a week, payments are tripled to recoup for the weekend period when markets are closed. FxPro makes that swap calculations daily between 21:59 and 22:00 UK time. Depending on the currency pair being traded and the position held, swap payments are credited to, or debited from, client trading accounts.
FxPro is the collective brand name of FxPro UK Ltd., an entity regulated by the UK Financial Conduct Authority (FCA), and FxPro Financial Services Ltd., which is licensed by the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Board (FSB) of South Africa.