Interest, Swaps & Commissions

Please refer to your daily and monthly statements, which will indicate the swap points gained or paid.

 If you are holding a LONG positionIf you are holding a SHORT position
Buying price is lowered, hence you are gaining swap interest.Selling price is lowered, hence you are paying swap interest.
+Buying price is raised, hence you are paying swap interest.Selling price is raised, hence you are gaining swap interest.

Case Example 
You have an existing long position of EUR/USD at 1.3400 and the swap is at -0.0001.This means that your buying price is lowered from 1.3400 to 1.3399 and you are gaining swap interest of 0.0001 point.

You have an existing short position of EUR/USD at 1.3400 and the swap is at -0.0001. This means that your selling price is lowered from 1.3400 to 1.3399 and you are paying swap interest of 0.0001 point.

If you would like to find out the swap interest for a particular Forex pair, you may contact our Forex desk at (65) 6536 7200 or email our Client Service team at futures@phillip.com.sg.

No. Phillip Futures will not do any currency conversion to cover the deficit without your expressed consent or instructions. An exception may be made if your account is in danger of going into over-loss due to exchange rate fluctuations. Phillip Futures reserves the right to do an auto-conversion of the deficit amount to maintain a positive account balance.

For the latest currency conversion rates, you may contact the Forex desk at (65) 6536 7200 for quotes. If the quoted rate is favourable, you can instruct the dealer to proceed with the currency conversion immediately. Alternatively, you may choose to do the conversion online via the Client Portal. Upon logging in to the Client Portal > Currency Conversion.

Note: MT5 is a USD based trading account so currency conversions are not applicable.

For positive balances of over €30,000 and ¥3,000,000, a negative interest rate will be applicable. Please note that the interest rates are subject to change. You can check the latest interest rates via Client Portal or through this link.

Note: MT5 is a USD based trading account. Hence, interest rates for holding other currencies does not apply.

Please refer to your daily and monthly statements, which will indicate the swap points gained or paid.

 

 If you are holding a LONG positionIf you are holding a SHORT position
Buying price is
lowered, hence you are gaining swap interest.
Selling price is
lowered, hence you are paying swap interest.
+Buying price is
raised, hence you are paying swap interest.
Selling price is
raised, hence you are gaining swap interest.

 

Case Example 
You have an existing long position of EUR/USD at 1.3400 and the swap is at -0.0001.This means that your buying price is lowered from 1.3400 to 1.3399 and you are gaining swap interest of 0.0001 point.

You have an existing short position of EUR/USD at 1.3400 and the swap is at -0.0001. This means that your selling price is lowered from 1.3400 to 1.3399 and you are paying swap interest of 0.0001 point.

If you would like to find out the swap interest for a particular Forex pair, you may contact our Forex desk at (65) 6536 7200 or email our Marketing desk at futures@phillip.com.sg.

Can't find what you are looking for?

Should you have any query, you may contact us at (65) 6538 0500 or
email us at futures@phillip.com.sg