{"id":4518,"date":"2021-03-03T11:11:35","date_gmt":"2021-03-03T03:11:35","guid":{"rendered":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.phillipnova.com.sg?page_id=4518"},"modified":"2022-11-15T09:35:52","modified_gmt":"2022-11-15T01:35:52","slug":"interest-swaps-commissions","status":"publish","type":"page","link":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.phillipnova.com.sg\/faq\/interest-swaps-commissions\/","title":{"rendered":"Interest, Swaps & Commissions"},"content":{"rendered":"\t\t
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Interest, Swaps & Commissions<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/line><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tHow much is the swap points\/interest adjustment for my open Forex positions?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t

Please refer to your daily and monthly statements, which will indicate the swap points gained or paid.<\/p>
\u00a0<\/strong><\/td>If you are holding a LONG position<\/strong><\/td>If you are holding a SHORT position<\/strong><\/td><\/tr><\/thead>
\u2013<\/td>Buying price is lowered, hence you are\u00a0gaining\u00a0swap interest.<\/td>Selling price is lowered, hence you are\u00a0paying\u00a0swap interest.<\/td><\/tr>
+<\/td>Buying price is raised, hence you are\u00a0paying\u00a0swap interest.<\/td>Selling price is raised, hence you are\u00a0gaining\u00a0swap interest.<\/td><\/tr><\/tbody><\/table>

Case Example\u00a0<\/strong>
You have an existing long position of EUR\/USD at 1.3400 and the swap is at -0.0001.This means that your buying price is lowered from 1.3400 to 1.3399 and you are gaining<\/b> swap interest of 0.0001 points.<\/p>

You have an existing short position of EUR\/USD at 1.3400 and the swap is at -0.0001. This means that your selling price is lowered from 1.3400 to 1.3399 and you are paying<\/b> swap interest of 0.0001 points.<\/p>

If you would like to find out the swap interest for a particular Forex pair, you may contact our Forex desk at (65) 6536 7200 or email our Client Service team at\u00a0nova@phillip.com.sg<\/a>.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/line><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWill Phillip Nova do an auto-conversion to cover deficits in respective currency balances?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t

No. Phillip Nova will not do any currency conversion to cover the deficit without your expressed consent or instructions. An exception may be made if your account is in danger of going into over-loss due to exchange rate fluctuations. Phillip Nova reserves the right to do an auto-conversion of the deficit amount to maintain a positive account balance.<\/p>\n

For the latest currency conversion rates, you may contact the Forex desk at (65) 6536 7200 for quotes. If the quoted rate is favourable, you can instruct the dealer to proceed with the currency conversion immediately. Alternatively, you may choose to do the conversion online via the Client Portal<\/a>. Upon logging in to the Client Portal > Currency Conversion.<\/p>\n

Note:<\/strong>\u00a0MT5 is a USD based trading account so currency conversions are not applicable.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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Please note that the interest rates are subject to change. You can check the latest interest rates via Client Portal<\/a>\u00a0or through\u00a0this link<\/a>.<\/p>

Note:<\/strong>\u00a0MT5 is a USD based trading account. Hence, interest rates for holding other currencies does not apply.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Should you have any query, you may contact us at (65) 6538 0500<\/a> or
email us at nova@phillip.com.sg<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

Interest, Swaps & Commissions How much is the swap points\/interest adjustment for my open Forex positions? Please refer to your daily and monthly statements, which will indicate the swap points gained or paid. \u00a0 If you are holding a LONG position If you are holding a SHORT position \u2013 Buying price is lowered, hence you […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":3120,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-4518","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"\nInterest, Swaps & Commissions - Phillip Nova - Bringing global markets closer to you<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.phillipnova.com.sg\/faq\/interest-swaps-commissions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Interest, Swaps & Commissions - Phillip Nova - Bringing global markets closer to you\" \/>\n<meta property=\"og:description\" content=\"Interest, Swaps & Commissions How much is the swap points\/interest adjustment for my open Forex positions? 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