Trading

Spread and Swap

The difference between bid and ask price is called "spread". Example: EUR/USD is trading at BID price of 1.28000, and ASK price of 1.28017, the difference (1.7 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 0.9393 0.9398 4.8 -0.72 -0.72 CAD
AUD/CHF 0.6461 0.6463 2.4 -0.38 -0.68 CHF
AUD/JPY 73.8070 73.8310 2.4 -0.68 -0.63 JPY
AUD/NZD 1.0602 1.0605 2.8 -0.91 -0.92 NZD
AUD/USD 0.7065 0.7067 1.9 -0.51 -0.51 USD
CAD/CHF 0.6876 0.6880 3.9 -0.41 -0.74 CHF
CAD/JPY 78.5510 78.5830 3.2 -0.55 -0.7 JPY
CHF/JPY 114.21 114.24 2.7 -1.01 -0.66 JPY
EUR/AUD 1.6549 1.6552 2.6 -1.53 -1.36 AUD
EUR/CAD 1.5548 1.5553 5.3 -1.35 -0.86 CAD
EUR/CHF 1.06950 1.0696 1.9 -0.83 -0.85 CHF
EUR/CZK 27.181 27.313 1,315.0 -2.61 -1.58 CZK
EUR/DKK 7.4440 7.44700 29.9 -5.11 -5.01 DKK
EUR/GBP 0.9017 0.9019 2.7 -0.8 -0.53 GBP
EUR/HKD 9.0683 9.0700 16.7 -9.98 -5.95 HKD
EUR/HUF 366.25 368.61 23,670.0 -4.1 -1.29 HUF
EUR/JPY 122.16 122.19 2.2 -0.98 -0.78 JPY
EUR/MXN 24.829 24.835 53.0 -82.02 14.92 MXN
EUR/NOK 11.084 11.088 36.0 -8.46 -6.45 NOK
EUR/NZD 1.7547 1.7557 10.1 -1.75 -0.94 NZD
EUR/PLN 4.61870 4.62130 26.0 -4.81 -1.77 PLN
EUR/RUB 92.372 92.554 1,823.0 -360.01 -91.01 RUB
EUR/SEK 10.3630 10.366 31.0 -9 -7.06 SEK
EUR/SGD 1.5943 1.59520 8.6 -1.52 -1.12 SGD
EUR/TRY 9.7660 9.7941 281.4 -50.89 -21.39 TRY
EUR/USD 1.1695 1.1697 1.4 -0.97 -0.72 USD
EUR/ZAR 18.989 19.024 351.0 -60.66 -4.26 ZAR
GBP/AUD 1.8350 1.8353 3.0 -1.41 -1.35 AUD
GBP/CAD 1.7239 1.7245 6.4 -1.29 -1.26 CAD
GBP/CHF 1.1858 1.1861 3.0 -0.62 -1.15 CHF
GBP/CZK 28.617 28.617 0.0 -2.67 -2.63 CZK
GBP/DKK 8.1120 8.1173 53.2 -4.46 -6.96 DKK
GBP/HKD 10.066 10.069 28.3 -13.18 -9.13 HKD
GBP/HUF 360.100 360.100 0.0 -4.36 -2.62 HUF
GBP/JPY 135.45 135.48 2.4 -1.05 -1.06 JPY
GBP/MXN 27.530 27.536 59.3 -87.94 16.66 MXN
GBP/NOK 12.288 12.291 35.2 -7.44 -11.16 NOK
GBP/NZD 1.9458 1.9462 4.0 -1.63 -1.38 NZD
GBP/PLN 5.1096 5.1378 282.5 -4.65 -3.01 PLN
GBP/SEK 11.488 11.492 32.5 -8 -9.2 SEK
GBP/SGD 1.7678 1.7686 8.3 -1.75 -1.67 SGD
GBP/TRY 10.828 10.859 314.7 -62.99 -32.33 TRY
GBP/USD 1.2967 1.2969 2.0 -0.89 -0.84 USD
GBP/ZAR 21.053 21.096 430.0 -64.44 -6.94 ZAR
NOK/SEK 0.93050 0.93900 85.0 -0.42 -1.06 SEK
NZD/CAD 0.8856 0.8863 7.1 -0.64 -0.74 CAD
NZD/CHF 0.6092 0.6095 2.6 -0.33 -0.67 CHF
NZD/JPY 69.5910 69.6310 4.0 -0.46 -0.63 JPY
NZD/SGD 0.9083 0.9088 5.2 -0.68 -0.79 SGD
NZD/USD 0.6662 0.6665 2.5 -0.46 -0.51 USD
USD/CAD 1.3294 1.3296 2.1 -0.99 -0.99 CAD
USD/CHF 0.9143 0.9145 1.7 -0.47 -1.19 CHF
USD/CNH 6.68190 6.68380 19.0 -13.73 -8.83 CNH
USD/CZK 23.234 23.357 1,229.0 -2.7 -1.5 CZK
USD/DKK 6.3625 6.3670 45.4 -3.35 -5.85 DKK
USD/HKD 7.7536 7.7540 4.8 -8.7 -3.76 HKD
USD/HUF 313.08 315.06 19,770.0 -3.41 -2.11 HUF
USD/ILS 3.79300 3.79300 0.0 -0.56 -0.7 ILS
USD/JPY 104.450 104.46 1.3 -0.69 -0.88 JPY
USD/MXN 21.228 21.232 37.9 -74.81 9.19 MXN
USD/NOK 9.4711 9.4865 154.1 -5.76 -7.4 NOK
USD/PLN 3.94060 3.9592 186.4 -3.62 -2.43 PLN
USD/RUB 78.980 79.120 1,394.0 -45.41 -15.07 RUB
USD/SEK 8.85490 8.86800 131.0 -6.47 -7.96 SEK
USD/SGD 1.3632 1.3636 3.7 -1.08 -1.19 SGD
USD/TRY 8.3498 8.3684 185.9 -47.71 -21.71 TRY
USD/ZAR 16.242 16.255 125.2 -53.63 -14.75 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(21:59 GMT)