Financing fees

At OANDA we apply a holding/duration charge or holding/duration credit for positions you keep open over time. Our holding charges/credits are calculated in relation to positions maintained on a continuous basis rather than as a daily roll charge.

Financing Fees Hero

Financing rates vary from currency to currency, and can change at any time, including multiple times per day. There are two types of financing rates in this context: bid and ask.

  • Bid financing rates apply when you go long to buy a currency
  • Ask financing rates apply when you go short to sell a currency
  • Ask rates are always higher than bid rates

How financing charges and credits are calculated

When you open a position, you are long (buying) one currency and short (selling) the other currency. You will receive holding charges/credits on the currency which you are long, calculated using the bid financing rate, and pay holding charges/credits on the currency which you are short, calculated using the ask financing rate.

Please note that in some cases, the bid financing rates will be negative. In these cases, you will pay holding charges/credits on the currency which you are long.

Financing rates are determined from various sources, including central bank interest rates and spot-next rollover rates received from our LPs.

For example, let’s say you have entered into a trade to sell GBP/USD. This means that you hold a short position in GBP and a corresponding long position on USD. If the OANDA financing rates are as follows:

Currency Bid financing rate Ask financing rate
GBP 0.25% 1.00%
USD 2.25% 2.75%

You will receive 2.25% on your long position of USD, and you will pay 1.00% on your short position of GBP. These amounts will be converted to your account currency, and applied to your position on a continuous, second-by-second basis.

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