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 1.28000, 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 0.9028 0.9032 3.8 -0.32 -0.59 CAD
AUD/CHF 0.6635 0.66380 2.5 0.14 -0.91 CHF
AUD/JPY 72.0680 72.0920 2.4 -0.07 -0.73 JPY
AUD/NZD 1.05740 1.0576 2.9 -0.59 -0.44 NZD
AUD/USD 0.6775 0.6777 1.8 -0.51 -0.24 USD
CAD/CHF 0.7347 0.7350 2.8 0.03 -0.78 CHF
CAD/JPY 79.8050 79.8310 2.6 -0.1 -0.71 JPY
CHF/JPY 108.59 108.61 2.6 -0.73 -0.27 JPY
EUR/AUD 1.6351 1.6353 2.6 -1.69 0.33 AUD
EUR/CAD 1.4765 1.47690 3.4 -1.06 -0.22 CAD
EUR/CHF 1.0851 1.0853 1.6 -0.17 -0.9 CHF
EUR/CZK 25.779 25.822 432.0 -2.17 -0.93 CZK
EUR/DKK 7.4557 7.4570 13.6 -2.75 -2.93 DKK
EUR/GBP 0.9159 0.9161 2.3 -0.61 -0.19 GBP
EUR/HKD 8.6899 8.6908 9.2 -10.04 0.09 HKD
EUR/HUF 326.85 327.51 6,580.0 -1.85 -1.44 HUF
EUR/JPY 117.85 117.87 1.9 -0.46 -0.64 JPY
EUR/MXN 21.999 22.006 68.0 -332.6 169.8 MXN
EUR/NOK 9.97080 9.97390 31.0 -6.61 -0.7 NOK
EUR/NZD 1.7291 1.7294 3.0 -1.96 0.53 NZD
EUR/PLN 4.35920 4.36110 19.0 -4.18 0.11 PLN
EUR/RUB 74.183 74.225 425.0 -260.18 16.82 RUB
EUR/SEK 10.766 10.769 30.0 -3.37 -4.35 SEK
EUR/SGD 1.5354 1.5358 4.1 -1.59 -0.19 SGD
EUR/TRY 6.3216 6.3354 137.9 -114.85 62.6 TRY
EUR/USD 1.1080 1.1081 1.3 -1.29 0.26 USD
EUR/ZAR 17.0160 17.031 153.5 -226.5 104.65 ZAR
GBP/AUD 1.7849 1.78520 2.7 -1.49 -0.05 AUD
GBP/CAD 1.6118 1.6122 4.3 -1.05 -0.39 CAD
GBP/CHF 1.1845 1.1848 2.9 -0.12 -1.08 CHF
GBP/CZK 28.617 28.617 0.0 -1.33 -1.77 CZK
GBP/DKK 8.1381 8.1419 37.7 -0.98 -5.34 DKK
GBP/HKD 9.4860 9.4876 16.8 -8.96 -2.68 HKD
GBP/HUF 360.100 360.100 0.0 -1.23 -2.57 HUF
GBP/JPY 128.65 128.67 2.1 -0.28 -0.98 JPY
GBP/MXN 24.015 24.022 77.7 -350.6 170.4 MXN
GBP/NOK 10.884 10.887 30.9 -4.75 -1.96 NOK
GBP/NZD 1.8875 1.8879 4.1 -1.74 0.07 NZD
GBP/PLN 4.7580 4.7610 29.4 -3.99 -1.09 PLN
GBP/SEK 11.753 11.756 31.5 -1.02 -7.74 SEK
GBP/SGD 1.6761 1.6765 4.3 -6.65 -3 SGD
GBP/TRY 6.9005 6.9162 157.3 -127.4 68.95 TRY
GBP/USD 1.2095 1.2097 1.7 -1.17 0.02 USD
GBP/ZAR 18.573 18.593 200.1 -238.85 101.05 ZAR
NOK/SEK 1.07650 1.08250 60.0 -0.15 -0.89 SEK
NZD/CAD 0.8536 0.8542 5.8 -0.19 -0.68 CAD
NZD/CHF 0.6274 0.62770 2.6 0.18 -0.93 CHF
NZD/JPY 68.1460 68.1710 2.5 1 -0.88 JPY
NZD/SGD 0.8878 0.8881 3.7 -0.35 -0.83 SGD
NZD/USD 0.6406 0.64090 2.4 -0.42 -0.31 USD
USD/CAD 1.3325 1.3327 1.9 -0.17 -0.8 CAD
USD/CHF 0.9793 0.9794 1.4 0.4 -1.31 CHF
USD/CNH 7.07140 7.07320 18.0 -17.91 -11.69 CNH
USD/CZK 23.265 23.306 408.0 -0.47 -2.1 CZK
USD/DKK 6.7281 6.73000 18.4 1.92 -6.49 DKK
USD/HKD 7.8422 7.8426 4.1 -3.12 -7.79 HKD
USD/HUF 295.050 295.49 4,480.0 0.17 -2.91 HUF
USD/ILS 3.79300 3.79300 0.0 0.07 -0.18 ILS
USD/JPY 106.36 106.37 1.3 2.3 -10.2 JPY
USD/MXN 19.853 19.858 50.6 -213.2 76.8 MXN
USD/NOK 8.99640 9.00230 59.0 -0.35 -5.65 NOK
USD/PLN 3.9304 3.9389 85.4 -1.49 -2.14 PLN
USD/RUB 65.089 65.089 0.0 -26.4 1.24 RUB
USD/SEK 9.71410 9.72090 68.0 2.58 -9.03 SEK
USD/SGD 1.3856 1.3859 2.9 -0.61 -1.02 SGD
USD/TRY 5.7067 5.7102 35.3 -81.4 38.6 TRY
USD/ZAR 15.358 15.365 74.0 -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(21:59 GMT)