Market analysis
USD/JPY: the interest-rate-differential pair
A pip is 0.01 and pip value moves with the rate. This pair tracks US Treasury yields closely, and the…
Swap
11 articles in this section.
Trading costs
The cost of trading USD/JPY, and the swap trap
USD/JPY has a cheap spread but a heavy negative swap on the short side. One lot short for 20 days…
Trading costs
Overnight financing on multi-day gold positions
Gold charges negative swap in both directions. Holding one lot for two weeks can cost over $500 — about $5…
Trading costs
Is a swap-free account really free?
Swap-free removes overnight financing but recovers it through a wider spread, a daily administration fee, or excluded instruments. How to…
Fundamentals
MT4/MT5 server time vs. your local time
Daily candles close on the broker's server clock, usually GMT+2 or GMT+3 — four to five hours behind Vietnam time.…
Trading costs
The cheapest hours to trade: 12:00-15:00 UTC
The average XAU/USD spread during the London session is about 6 cents. The four sessions converted to UTC, and three…
Fundamentals
What a carry trade is, and why it unwinds so fast
A carry trade earns small and steady, then loses large and sudden. Three signs the carry is being unwound, and…
Trading costs
Six hidden costs in forex trading
Swap, slippage, currency conversion, inactivity fees and out-of-hours spread widening — six charges that never appear on the fee schedule…
Trading costs
Forex trading costs: the complete guide, charge by charge
Spread, commission, swap, slippage, conversion - every component of cost, in the order it arises over the life of a…
Market analysis
XAU/USD gold rebates: four brokers by account type
Gold rebates differ by almost a factor of two between brokers on the same account tier. But for anyone holding…
Trading costs
Overnight financing (swap), and why Wednesday is charged three times
Swap comes from the interest-rate difference between the two currencies, plus the broker's own markup. Wednesday night is tripled by…