This article explains the list and calculation of swap points for each brand based on the interest rate of currencies in iForex overseas FX trading. In this article, we will explain in detail the iFOREX swap point rules and precautions. In this article, we will introduce iFOREX swap points in a list for each stock.
- What is swap point? What kind?
- How to Calculate Swap Points and When to Earn Swap Points
- iFOREX Swap Points for Precious Metals and Energy
- iFOREX Stock and Stock Index Swap Points List
- 📊 Swap Points for Stocks (Individual Stock CFDs)
- About frequently asked questions
- Q1. Do swaps apply to stocks and stock indexes?
- Q2. Which is more profitable, buying or selling?
- Q3. Do the rates triple on Wednesdays and Fridays?
- Q4. What about dividends?
- Q5. Where can I check swaps?
- Q6. What happens if I hold for the long term?
- Q7. Are swaps fixed?
- Q8. Is it possible to invest with the goal of swaps?
- When are swap points awarded?
- How to calculate swap?
- Friday is 3x Points Day
- What is overnight interest rate?
- Can I withdraw the swap points themselves?
- What will happen if the swap points are both denominated?
- You can open an account for free
What is swap point? What kind?
Swap points are points that are applied across days when investing and holding currency. This will result in a difference in interest rates, so either plus or minus points will be awarded. Therefore, especially when doing swing trading, you need to consider this swap point. This swap point occurs at any vendor. It also occurs in minor currencies, including the US dollar, Japanese yen, euro, pound, Swiss franc, and Canadian dollar. You can also check the official website.
① How Swap Points Work
Buy a high-interest currency / Sell a low-interest currency
→ Basically, you “receive” a swap.
Buy a low-interest currency / Sell a high-interest currency
→ Basically, you “pay” a swap.
Example:
If the USD/JPY interest rate is higher than the JPY
→ Buy USD and sell JPY
→ Pay by selling USD and buying JPY
② iFOREX Features
iFOREX swaps have the following features:
✔ Occur every business day (calculated as if the position is carried over to the next day)
✔ Often “3-day” on Wednesdays (adjusted for weekends)
✔ Varies by currency pair
✔ Fluctuates daily based on market interest rates and conditions
*Swaps are not fixed and change based on policy interest rates and market conditions.
③ Calculation Overview
Basic Concept:
Swap = Interest Rate Difference × Trading Amount ÷ 365 Days
*In practice, brokers make their own adjustments, so this may not be entirely theoretical.
④ Points to Note
Swaps have a significant impact on long-term holdings.
High-interest-rate currencies tend to have large price fluctuations.
Even if you intend to receive a return, you may end up in the red due to exchange losses.
Changes in economic policy can also cause sudden fluctuations.
⑤ How to Plan for Swaps
Choose currency pairs with large interest rate differentials.
Consider exchange rate fluctuation risk.
Take a long-term view and use excess funds.
How to Calculate Swap Points and When to Earn Swap Points
① How to Calculate Swap Points
Swaps are generally calculated based on the interest rate differential between two countries.
■ Basic Concept
Swap = (Interest Rate Differential – Broker Adjustment) x Trading Volume ÷ 365 (Days)
■ More Specific
Swap Amount =
(Interest Rate of Target Currency – Interest Rate of Counterpart Currency – Fee Adjustment)
× Lot Size x Currency Unit ÷ 365
Note: iFOREX does not disclose the actual calculation formula.
It reflects market interest rates, liquidity, and internal adjustments.
■ Example (Image)
USD/JPY
USD Interest Rate: 5%
JPY Interest Rate: 0%
→ Interest Rate Spread: Approximately 5%
For a holding of 10,000 units:
5% × 10,000 ÷ 365 ≒ Approximately $1.37/day
*In actual practice, broker adjustments are made at this point.
② Swap Timing
■ Occurs every business day
Occurs when a position is carried over to the next business day.
■ Rollover Time
Usually at iFOREX:
Around 6:00 AM Japan Time (varies due to Daylight Saving Time)
Swap is applied when this time frame is crossed.
■ Why Wednesdays are tripled
Forex uses the “T+2” settlement method,
and the weekend (Saturday and Sunday) portion is adjusted at the Wednesday rollover.
Weekday Swap: Mon 1 day, Tue 1 day, Wed 3 days, Thu 1 day, Fri 1 day
*This may vary depending on holidays.
③ Important Points to Note
Swaps fluctuate daily
Buy and sell amounts vary greatly
High interest rates do not guarantee receipts
Negative swaps can be a significant burden for long-term holdings
④ Practical Approach
If you’re looking to invest in swaps
Confirm your position in the upside
Understand Wednesday’s triple-double day
Prioritize currency risk management
iFOREX Swap Points by Product
The following is a list of iFOREX swap points by product (representative currency pairs) based on publicly available information. *Swap points are estimated daily figures per 100,000 units (1 lot). However, actual swaps fluctuate daily, so you should check the official website/trading platform for the latest figures.
| 通貨ペア | 買い（ロング） | 売り（ショート） |
|---|---|---|
| USD/JPY（米ドル/円） | 約 +123円 | 約 -260円 |
| EUR/JPY（ユーロ/円） | 約 +106円 | 約 -205円 |
| NZD/JPY（NZドル/円） | 約 +117円 | 約 -259円 |
| ポンド/円（GBP/JPY） | 約 +109円 | 約 -188円 |
| SGドル/円 | 約 -23円 | 約 -187円 |
| 香港ドル/円 | 約 +109円 | 約 -209円 |
| 米ドル/メキシコペソ | 約 +64円 | 約 -431円 |
| 南アフリカランド/円 | 約 +107円 | 約 -431円 |
🔥 Currency Pairs with High Swaps
Pairs containing high-interest-rate currencies tend to have larger swaps. Below are reference values (media information) for when carrying 100,000 units:
| 通貨ペア | 買い | 売り |
|---|---|---|
| トルコリラ/ハンガリーフォリント | 約 -324円 | 約 -153円 |
| NZドル/スイス | 約 +125円 | 約 -182円 |
| Dクローネ/円 | 約 +88円 | 約 -184円 |
| ユーロ/トルコリラ | 売り +385円 | 買い +391円（※扱い注意） |
Note: The values in the table above are quoted media prices and may differ from those displayed on the official platform.
📌 Important Notes
✅ Swap points fluctuate daily.
It is best to check real-time values within the official MT5/MT4 or iFOREX platform.
✅ Some brokers also set swaps for non-currency pairs (indices/commodities/stocks), but the calculation method and units are different from those for currency pairs.
✅ Swaps for the same currency pair are typically positive on one side and negative on the other.
iFOREX Swap Points for Precious Metals and Energy
The official list of iFOREX swap points (overnight interest rates) for precious metals and energy (commodity CFDs) is not always published as a fixed value and is subject to change. Therefore, we will provide a representative guideline by “overnight interest rate (%)” and by product. *The most accurate way to check the actual figures is to check the latest values on the iFOREX trading platform.
① Precious Metals Swap (Overnight Interest Rate)
| 商品 | ロング（買い） | ショート（売り） | 単位 |
|---|---|---|---|
| 金（Gold） | -0.01729% | -0.01614% | 日次金利率 |
| 金（EUR建て） | -0.01736% | -0.01650% | 日次金利率 |
| 金（グラム/トルコリラ建て） | -0.05319% | +0.03930% | 日次金利率 |
| 銀（Silver） | -0.01729% | -0.01614% | 日次金利率 |
| 銅（Copper） | -0.01729% | -0.01614% | 日次金利率 |
| 白金（Platinum） | -0.01729% | -0.01614% | 日次金利率 |
| パラジウム（Palladium） | -0.01729% | -0.01614% | 日次金利率 |
② Energy (crude oil, natural gas, etc.) swaps
| 商品 | ロング（買い） | ショート（売り） | 単位 |
|---|---|---|---|
| WTI原油 | -0.01729% | -0.01614% | 日次金利率 |
| ブレント原油 | -0.01729% | -0.01614% | 日次金利率 |
| 上海原油 | -0.01921% | -0.01459% | 日次金利率 |
| ガソリン | -0.01729% | -0.01614% | 日次金利率 |
| ヒーティングオイル | -0.01729% | -0.01614% | 日次金利率 |
| 天然ガス | -0.01729% | -0.01614% | 日次金利率 |
③ Note: Display and Verification Method
✅ Swap values are often displayed as a percentage (overnight interest rate).
→ To convert to the actual amount, multiply the holding amount by the rate.
Example:
“-0.01729%” x Trading Unit (nominal value) = Actual Daily Amount
④ Additional Information (Handling of Official Data)
iFOREX platforms (such as Trading Station) display overnight interest rates for each product.
Precious metals and energy are treated as CFDs rather than currency pairs, and the swap unit and calculation method differ from those for currency pairs.
The figures fluctuate daily based on market interest rates, product supply and demand, liquidity, and broker adjustments.
iFOREX Stock and Stock Index Swap Points List
The following is a list of iFOREX stock index and CFD swap points (reference values calculated by converting overnight interest rates into yen) based on publicly available information.
- Actual swap rates fluctuate daily, and the most recent values on the iFOREX trading platform are the most accurate. (iFOREX displays overnight interest rates as “Swap” or “Financing Fees”).
📈 Stock Index Swap Points List (Reference)
| 株価指数（インデックス） | 買いスワップ | 売りスワップ |
|---|---|---|
| FANG+ | -3134.70円 | -382.05円 |
| VIX | -3134.70円 | -382.05円 |
| イギリス100 | -3445.40円 | -726.11円 |
| イタリア40 | -2722.72円 | -475.19円 |
| オーストラリア200 | -1845.56円 | -487.70円 |
| ドイツ40 | -2722.72円 | -475.19円 |
| フランス40 | -2722.72円 | -475.19円 |
| スイス20 | -2222.68円 | -1015.05円 |
| スペイン35 | -2722.72円 | -475.19円 |
| サウジ全株指数 | -911.88円 | -57.60円 |
| 中国A50 | -160.22円 | -19.53円 |
| 中国SSE | -96.81円 | -84.73円 |
| 南アフリカ40 | -289.86円 | -35.37円 |
| 日本100（Nikkei100） | -10円 | -12円 |
| 日本225（Nikkei225円建て） | -10円 | -12円 |
| 日本225（米ドル建て） | -3134.70円 | -382.05円 |
| 米国30（Dow Jones） | -3134.70円 | -382.05円 |
| 米国500（S&P 500） | -3134.70円 | -382.05円 |
| 米国テック100（NASDAQ系） | -3134.70円 | -382.05円 |
| 韓国200 | -1.84円 | -0.80円 |
| 香港50 | -329.63円 | -72.76円 |
| NIFTY Bank | -46.30円 | +4.62円 |
| インド50 | -37.15円 | -4.53円 |
(*The above table shows the yen equivalent value for one lot for reference only.)
📊 Swap Points for Stocks (Individual Stock CFDs)
While there is no official table online listing all stock CFD swaps, it is common for stock CFDs to incur overnight interest (swap) when holding positions across days.
Stock CFD swaps reflect each stock’s interest rate structure and dividend adjustments, so they can be either positive (received) or negative (debited).
On the trading platform, these are displayed for each stock as “Overnight Interest Rate,” “Swap Buy,” or “Swap Sell” (e.g., Apple, Tesla, Sony, Toyota, etc.) *Officially published on iFOREX.
📌 Important Notes
🔁 1. Daily Fluctuations
Swap/overnight interest rates fluctuate based on factors such as market interest rates, liquidity, policy rates, and CFD fees.
Always check the official live rates on the trading platform.
⏰ 2. Credit Timing
This occurs when a position is held over two days (spanning the designated “overnight time”).
The time is specified by the broker in GMT, and on Fridays, a three-day credit may be credited to cover the weekend.
💡 3. For Stock CFDs
For stock index and stock CFDs, the swap may include dividend adjustments and stock borrowing fees.
About frequently asked questions
We have compiled a list of frequently asked questions for your reference. As shown above, those who trade on a daily basis for a long period of time have to think a lot in order to generate the profits they can receive depending on their objectives.
Q1. Do swaps apply to stocks and stock indexes?
Yes, they do.
At iFOREX, both stock CFDs and stock index CFDs incur overnight interest (swap) when carrying over a position to the next day.
Q2. Which is more profitable, buying or selling?
In most cases:
Buying (long) = likely to result in a loss.
Selling (short) = relatively small loss, or rarely a gain.
However, this varies depending on market interest rates and dividend factors.
Q3. Do the rates triple on Wednesdays and Fridays?
It depends on the product.
Currency pairs → Usually “Wednesday triple”
Stock indexes → Often “Friday triple”
Stock CFDs → Varies depending on settings.
*Please be sure to check the platform.
Q4. What about dividends?
Stock CFDs and stock index CFDs are subject to a dividend adjustment.
Long positions → Receive the dividend equivalent.
Short positions → Pay the dividend equivalent.
This will be reflected if the ex-dividend date is crossed.
Q5. Where can I check swaps?
On the iFOREX trading screen:
Select a stock
Open “Product Specifications”
Check the “Overnight Financing / Swap” column
The latest value will be displayed here.
Q6. What happens if I hold for the long term?
Stocks and indexes often have negative swaps,
so long-term holdings incur significant costs.
Index CFDs in particular have large nominal amounts, so caution is required.
Q7. Are swaps fixed?
No. They fluctuate daily.
Market interest rates
Liquidity
Central bank policies
Broker adjustments
These factors affect swaps daily.
Q8. Is it possible to invest with the goal of swaps?
It is generally difficult to target swaps with stock and index CFDs.
(Currency pairs are more suitable for interest rate differential strategies.)
When are swap points awarded?
This basically depends on which stock or category, but it will be automatically added to your account at the following Japan time on the calendar. Some people seem to be living solely on dividends from overnight interest rate swaps.
- 夏時間：AM6:10（JST）
- 冬時間：AM7:10（JST）
How to calculate swap?
The calculation method for converting swap into Japanese yen is as follows. Officially, swap points are expressed as “%”, so to find the actual amount, you need to multiply by the transaction volume.
Swap = value of issue (Japanese yen) x overnight interest rate
iFOrex 公式から引用
Friday is 3x Points Day
Every Friday is triple swap point day. If you hold a negative swap, carrying over your position will result in a loss.
What is overnight interest rate?
Overnight interest rates are effectively swap points. iFOREX is written as an overnight interest rate rather than a swap point.
Can I withdraw the swap points themselves?
It is not possible to withdraw only swap points while holding a position. Swap points are reflected in your account when you close your position.
What will happen if the swap points are both denominated?
If you make both transactions in the same account, the margin will be offset and no margin will be required. Theoretically, there is no risk since you have buy and sell positions. However, it is dangerous because the spread may widen when the market price moves significantly.
You can open an account for free
You can open an account for free. This is the most recommended FX broker for discretionary traders, so please give it a try. There are campaigns and bonuses operated by Hireba, so please take advantage of them.
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