Trading

Spread and Swap

Spread and Swap

The difference between bid and ask price is called "spread". Example: EUR/USD is trading at BID price of 1.28007, and ASK price of 1.28021, the difference (1.4 pip) is the spread.

Land-FX clients benefit from the highly competitive spreads available in the OTC Market.

Pairs Quotes Swap Point Currency
Bid Ask Spread Long Short
AUD/CAD 0.9168 0.91720 3.8 -0.32 -0.59 CAD
AUD/CHF 0.6780 0.6783 2.9 0.14 -0.91 CHF
AUD/JPY 74.5700 74.5940 2.4 -0.07 -0.73 JPY
AUD/NZD 1.0491 1.0494 3.0 -0.59 -0.44 NZD
AUD/USD 0.6953 0.6955 1.9 -0.51 -0.24 USD
CAD/CHF 0.7394 0.7397 3.0 0.03 -0.78 CHF
CAD/JPY 81.3160 81.3450 2.9 -0.1 -0.71 JPY
CHF/JPY 109.95 109.98 3.2 -0.73 -0.27 JPY
EUR/AUD 1.6333 1.63360 2.9 -1.69 0.33 AUD
EUR/CAD 1.4977 1.4980 3.1 -1.06 -0.22 CAD
EUR/CHF 1.10780 1.10800 2.0 -0.17 -0.9 CHF
EUR/CZK 25.386 25.536 1,498.0 -2.17 -0.93 CZK
EUR/DKK 7.4642 7.4669 27.0 -2.75 -2.93 DKK
EUR/GBP 0.8954 0.8958 3.3 -0.61 -0.19 GBP
EUR/HKD 8.8726 8.8802 75.4 -10.04 0.09 HKD
EUR/HUF 322.30 324.38 20,720.0 -1.85 -1.44 HUF
EUR/JPY 121.81 121.83 1.9 -0.46 -0.64 JPY
EUR/MXN 21.840 21.853 124.0 -332.6 169.8 MXN
EUR/NOK 9.7028 9.7114 86.2 -6.61 -0.7 NOK
EUR/NZD 1.7138 1.7142 3.9 -1.96 0.53 NZD
EUR/PLN 4.25280 4.25780 50.0 -4.18 0.11 PLN
EUR/RUB 71.479 71.506 273.0 -260.18 16.82 RUB
EUR/SEK 10.553 10.558 51.7 -3.37 -4.35 SEK
EUR/SGD 1.5390 1.5395 4.8 -1.59 -0.19 SGD
EUR/TRY 6.58240 6.5902 78.7 -114.85 62.6 TRY
EUR/USD 1.1359 1.1360 1.3 -1.29 0.26 USD
EUR/ZAR 16.278 16.305 268.5 -226.5 104.65 ZAR
GBP/AUD 1.8235 1.8240 5.1 -1.49 -0.05 AUD
GBP/CAD 1.6722 1.6726 4.2 -1.05 -0.39 CAD
GBP/CHF 1.2366 1.2371 4.8 -0.12 -1.08 CHF
GBP/CZK 28.617 28.617 0.0 -1.33 -1.77 CZK
GBP/DKK 8.32900 8.3379 89.4 -0.98 -5.34 DKK
GBP/HKD 9.9566 9.9598 32.0 -8.96 -2.68 HKD
GBP/HUF 360.100 360.100 0.0 -1.23 -2.57 HUF
GBP/JPY 136.00 136.03 3.4 -0.28 -0.98 JPY
GBP/MXN 24.385 24.399 141.4 -350.6 170.4 MXN
GBP/NOK 10.831 10.844 139.1 -4.75 -1.96 NOK
GBP/NZD 1.9131 1.91430 11.3 -1.74 0.07 NZD
GBP/PLN 4.7480 4.7546 65.5 -3.99 -1.09 PLN
GBP/SEK 11.781 11.789 78.4 -1.02 -7.74 SEK
GBP/SGD 1.7184 1.7189 5.6 -6.65 -3 SGD
GBP/TRY 7.3489 7.3585 96.2 -127.4 68.95 TRY
GBP/USD 1.2682 1.2685 2.6 -1.17 0.02 USD
GBP/ZAR 18.174 18.205 310.8 -238.85 101.05 ZAR
NOK/SEK 1.08600 1.08800 20.0 -0.15 -0.89 SEK
NZD/CAD 0.8736 0.8741 4.9 -0.19 -0.68 CAD
NZD/CHF 0.6461 0.6464 2.9 0.18 -0.93 CHF
NZD/JPY 71.0620 71.0900 2.8 1 -0.88 JPY
NZD/SGD 0.8978 0.8982 4.2 -0.35 -0.83 SGD
NZD/USD 0.6626 0.6629 2.7 -0.42 -0.31 USD
USD/CAD 1.31850 1.3186 1.6 -0.17 -0.8 CAD
USD/CHF 0.9750 0.9752 2.1 0.4 -1.31 CHF
USD/CNH 6.88200 6.88850 65.0 -17.91 -11.69 CNH
USD/CZK 22.355 22.411 560.0 -0.47 -2.1 CZK
USD/DKK 6.5643 6.5727 83.7 1.92 -6.49 DKK
USD/HKD 7.8083 7.8120 36.7 -3.12 -7.79 HKD
USD/HUF 283.76 284.96 12,030.0 0.17 -2.91 HUF
USD/ILS 3.79300 3.79300 0.0 0.07 -0.18 ILS
USD/JPY 107.23 107.24 1.5 2.3 -10.2 JPY
USD/MXN 19.225 19.236 106.0 -213.2 76.8 MXN
USD/NOK 8.5415 8.5480 64.5 -0.35 -5.65 NOK
USD/PLN 3.73790 3.74660 87.0 -1.49 -2.14 PLN
USD/RUB 65.089 65.089 0.0 -26.4 1.24 RUB
USD/SEK 9.2901 9.29370 35.6 2.58 -9.03 SEK
USD/SGD 1.3548 1.3551 3.0 -0.61 -1.02 SGD
USD/TRY 5.7905 5.7980 74.9 -81.4 38.6 TRY
USD/ZAR 14.329 14.353 236.0 -143.1 45.4 ZAR

Example of Swap calculation

If you are long 1 lot of USD/JPY overnight and the position is rolled for 1 day, the swap (the cost of holding the position overnight) is :

  • If long swap points of USD/JPY = -0.24
  • Contract size = 100,000 ( 1 Lot = 100,000 of the first-named currency)
  • Period(Day) = 1
  • Swap calculation = -0.00024 * 100,000 * 1 = -24 JPY

If when the swap is applied to your account, the currency of your account is USD and USD/JPY is 123.456, finally -0.19(USD) will be applied to your one at end of day(16:59 GMT-05)