Answer: Formula calculating overnight interest for Gold, silver, US oil, UK oil and some indexes = lot * Swap Rate * number of days
For example: a client opens buy order 2 standard lots for gold and holding overnight, overnight interest = – 5.46 USD * 2 lots * 1 day = -10.92 USD. The result is a negative value, meaning the client has to pay 10.92. USD. Therefore, overnight interest is determined by the swap rate on the platform. If the swap rate is negative, the client will be charged interest. The swap rate is positive, the client will be paid interest from the company.