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Why are swap rates among brokers so vastly different?
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[QUOTE="Enivid, post: 127757, member: 1"] One reason could be incorrect reporting by myfxbook. I recommend double-checking with our [URL='https://www.earnforex.com/metatrader-indicators/Position-Size-Calculator/']Position Size Calculator[/URL] - you get the precise swap values on the Swaps tab. Another reason could be in the different pip definition between those two brokers. For example, [URL='https://www.earnforex.com/forex-brokers/InstaForex/']InstaForex[/URL] could be using fractional pips (0.00001), while [URL='https://www.earnforex.com/forex-brokers/OANDA/']Oanda[/URL] - standard pips (0.0001). When the values are in currency units rather than pips, the difference might come from different contract sizes used by brokers - some use standard lots (100,000), some use mini-lots (10,000) by default, others could even be using nontraditional sizes. Yes, of course. It could also be a [URL='https://www.earnforex.com/forex-course/carry-trade/']great source of income[/URL] if the swaps are positive. That is not always so. Some brokers charge/pay swaps at NY close (17:00 EST) for example. This also depends on the trading instrument (currency pair). That's called a swap spread. The actual interbank interest rates fluctuate, so brokers reduce the positive rate they pay to traders and increase the negative rate they charge for not to lose on them occasionally. Some brokers probably earn quite a lot on swaps. Yes. However that rarely happens. Swaps are based on the interbank rates (see [URL='https://en.wikipedia.org/wiki/Libor']LIBOR[/URL] for example), which in turn depend on the [URL='https://www.earnforex.com/interest-rates-table/']central banks' interest rates[/URL]. [/QUOTE]
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