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It depends mostly on the contract that you're using, and also somewhat on the broker.
The rate that you are either charged or receive depends on the difference between central bank rates of the currency you're buying and selling.
Example:
LONG 1 contract ($100,000) EURUSD - (meaning you're borrowing dollars at 1% to lend Euros at 3.75%) = 2.75%/365 = 0.0000753... * 100,000 = $7.53 per day
If you're short the same pair then you'd OWE $7.53 per day. YMMV depending on your broker...
Listing of the majors can be found here:
http://www.fxstreet.com/fundamental/interest-rates-table/
It depends mostly on the contract that you're using, and also somewhat on the broker.
The rate that you are either charged or receive depends on the difference between central bank rates of the currency you're buying and selling.
Example:
LONG 1 contract ($100,000) EURUSD - (meaning you're borrowing dollars at 1% to lend Euros at 3.75%) = 2.75%/365 = 0.0000753... * 100,000 = $7.53 per day
If you're short the same pair then you'd OWE $7.53 per day. YMMV depending on your broker...
Listing of the majors can be found here:
http://www.fxstreet.com/fundamental/interest-rates-table/
Thank you, that makes sense. Did you simply take the current interest rates to determine the interest? Do most brokers post somewhere the interest? THanks....
Can I simply buy one minute before interest is posted at 5pm EST or do we have to be "in the market" for a certain time before getting credit? THanks!
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