Swap too high

hhchenfx2020

Recruit
Messages
1
Hi Everyone,

I have an order to sell 0.02lot of EURCHF and I got charge -$0.28 (tie to that order number)
It is crazily too high. On the website, the rollover cost for EURCHF is 0.
Even for the EUR/CNH, the rollover cost is -1.17 per 10k (0.1 lot), for 0.2 lot it will be 0.23, still lower than what I pay.

I wonder if do we have to pay for the Pending Stop Order or Limit order which are not filled yet

Thank you,

HHC
 

Pharaoh

Colonel
Messages
19,959
If you have a pending order to open trades, you shouldn't have to pay anything if you cancel the trades before they execute. Fees for closing open trades should be the same whether the trade was closed manually or by a pending order. Unless you are REALLY married to an impending trade, I wouldn't open any new one trades until you talk to your broker about swaps.

Wednesday swaps are usually 3x the regular swap amount. This is normal in the retail Fx sector.

Contact your broker's support and ask them what is going on with the swaps.. Spread is very unpredictable now, but swaps should be quickly updated on the broker's site.

If you don't like the answers you get, consider changing brokers. There's no point in risking your money with a broker if you can't have at least a little trust in the company to not rip you off.
 

Vo32ss

Private, 1st Class
Messages
61
I think that information should be checked with your brokerage company. Because now everybody offers some different conditions, I choose my conditions - and you have to be well aware of what you can do and what you need to do it.
 

Bearad

Private
Messages
22
It doesn't look good because in most companies there are no such additional commissions for clients. These are expenses that don't bring anything good to your capital, and it's especially disadvantageous if you stick to some dynamic format.
 

compu-forex

Sergeant
Messages
149
It doesn't look good because in most companies there are no such additional commissions for clients. These are expenses that don't bring anything good to your capital, and it's especially disadvantageous if you stick to some dynamic format.
Actually all brokers charge or pay swap, unless you are operating off a swap-free account which is the exception rather than the rule.

I gather the OP found his answer because he has been AWOL since 29 May, or day after his post. I suspect that he experienced triple swap Wednesday
 

Farm_Yard_Forex

Corporal
Messages
115
Actually all brokers charge or pay swap, unless you are operating off a swap-free account which is the exception rather than the rule.

I gather the OP found his answer because he has been AWOL since 29 May, or day after his post. I suspect that he experienced triple swap Wednesday
To be fair I think Pharaoh answered in the first comment!
 
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