Hoping there’s no such thing as a silly question policy on here 🙂 but presumably if I’m day trading I don’t need to stress about overnight swap fees? If I ALWAYS close my positions by EOD then no charge?

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[James BarraModerator DayTrading.com Team]

Hi Caishen,

Thank you for your message.

You are correct in that if you close your positions in the same day you shouldn’t be charged overnight fees.

For context, overnight fees cover the cost of carrying a position over to the next trading day, which typically includes interest rates. Brokers can have their own policies for overnight charges but they should be upfront about these when you sign up.

PS you are right – there’s no such thing as a silly question here 😊

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[Christian]

It’s also worth noting that different instruments have different swap fees, and those fees also depend on lot size (bigger the lot, bigger the fee).

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[James BarraModerator DayTrading.com Team]

Yes, excellent point. Thanks Christian 👍

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[Caishen]

Cheers guys!

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