A swap in forex refers to the interest that you either earn or pay for a trade that you keep open overnight. There are two types of swaps: swap short (used for keeping short positions open overnight) and swap long (used for keeping long positions open overnight). They are expressed in pips per lot and vary depending on the financial instrument you are trading on ThorFX.
The Swap Shortfee can be calculated using the following formula:
One Point * Trade Size * Swap Short in Points.
Example for EURUSD: 0.00001*100,000*5.9166= 5.9166 USD
This means you would earn $5.9166 in swaps for keeping 1 lot of EURUSD overnight.
One Point = 0.00001 in EURUSD as point is the last digit in the price.
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