FXDD SWAP discrepancy
I think that FXDD's swap payments are determined by their clearing bank, so the swap payments may not be the same everyday - i.e it is variable
According to fxdd the swap in the demo is sometimes different then the swap published. They assured me that the swap that is published is the definite swap assesed to the account.
According to fxdd the swap in the demo is sometimes different then the swap published. They assured me that the swap that is published is the definite swap assesed to the account.
Hi,
I don't think that is correct, I am basing this on what I know people with live accounts have been paid with FXDD going long, say on GBPJPY. Many people from the GMT hedging system yahoo group have stated that sometimes they got paid double swap payments on say a Monday, as well as triple swap payments on Wednesday - someone questioned this with FXDD and they said that it is their banks that decide how much to charge/pay.
I don't know much about how their live and demo swaps differ so....
Script to display
Here is a quick script that i threw together to display the publish SWAP rates and determine the proper SWAP on open trades.
Hey Nick, I had a similar problem with FXDD once. I was holding some long CAD/JPY positions and one day I was charged swap on the rollover. Clearly I should have been earning swap. I looked at my properties for that symbol and sure enough, it said I would earn swap for shorts and pay for longs. Very odd! I was very suspicious that these specifications would be changed like that (since I was holding longs) and none of the other pairs had changed. I called them, they fixed it and credited me what I should have earned. The next day the same thing happened. I had to call again and again they credited the swap.
Although I was suspicious (I mean, how could that have happened without someone that had the ability to change those dealing specifications going in there and changing it??), but FXDD was good about looking into it and crediting me for the mistake (they called it a "glitch"). So far the problem has not re-occurred, so I am sticking with them. I guess the moral of this story is, keep an eye on your rollovers, you have to monitor your account for yourself.
I think that FXDD's swap payments are determined by their clearing bank, so the swap payments may not be the same everyday - i.e it is variable
Agree, i believe it should be variable. Coz the central banks' interests some times change...
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I have never paid attention until recently, but when calculating the swap for my fxdd trades i noticed that the positive interest trades are right on the money and the negative swaps are inflated! What gives? I am basing this on the SWAP values returned to the platform via MarketInfo("CURRENCY",MODE_SWAPLONG or SHORT). Has anyone else experienced this or can anyone offer me an explanation for the swap not adding up?