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 0.9390 0.9395 5.2 -0.72 -0.72 CAD
AUD/CHF 0.6465 0.6468 3.0 -0.38 -0.68 CHF
AUD/JPY 73.8100 73.8400 3.0 -0.68 -0.63 JPY
AUD/NZD 1.0601 1.0604 3.1 -0.91 -0.92 NZD
AUD/USD 0.7065 0.7068 2.4 -0.51 -0.51 USD
CAD/CHF 0.6882 0.6886 4.1 -0.41 -0.74 CHF
CAD/JPY 78.5780 78.6140 3.6 -0.55 -0.7 JPY
CHF/JPY 114.14 114.17 3.0 -1.01 -0.66 JPY
EUR/AUD 1.6538 1.6542 3.3 -1.53 -1.36 AUD
EUR/CAD 1.55340 1.5539 5.1 -1.35 -0.86 CAD
EUR/CHF 1.0695 1.0697 2.0 -0.83 -0.85 CHF
EUR/CZK 27.206 27.331 1,256.4 -2.61 -1.58 CZK
EUR/DKK 7.4442 7.4472 30.3 -5.11 -5.01 DKK
EUR/GBP 0.9009 0.90130 3.5 -0.8 -0.53 GBP
EUR/HKD 9.0632 9.0648 16.3 -9.98 -5.95 HKD
EUR/HUF 366.22 368.54 23,190.4 -4.1 -1.29 HUF
EUR/JPY 122.09 122.12 2.6 -0.98 -0.78 JPY
EUR/MXN 24.821 24.826 51.4 -82.02 14.92 MXN
EUR/NOK 11.085 11.089 39.4 -8.46 -6.45 NOK
EUR/NZD 1.7536 1.7540 4.1 -1.75 -0.94 NZD
EUR/PLN 4.6190 4.6216 25.4 -4.81 -1.77 PLN
EUR/RUB 92.410 92.526 1,156.4 -360.01 -91.01 RUB
EUR/SEK 10.361 10.365 33.4 -9 -7.06 SEK
EUR/SGD 1.59350 1.5940 5.8 -1.52 -1.12 SGD
EUR/TRY 9.7807 9.8033 226.8 -50.89 -21.39 TRY
EUR/USD 1.1688 1.1690 1.8 -0.97 -0.72 USD
EUR/ZAR 18.983 19.010 272.5 -60.66 -4.26 ZAR
GBP/AUD 1.8354 1.8357 3.4 -1.41 -1.35 AUD
GBP/CAD 1.7238 1.7245 7.2 -1.29 -1.26 CAD
GBP/CHF 1.1869 1.1872 3.2 -0.62 -1.15 CHF
GBP/CZK 28.617 28.617 0.4 -2.67 -2.63 CZK
GBP/DKK 8.1120 8.1173 53.6 -4.46 -6.96 DKK
GBP/HKD 10.066 10.069 28.7 -13.18 -9.13 HKD
GBP/HUF 360.09 360.10 0.4 -4.36 -2.62 HUF
GBP/JPY 135.500 135.52 2.6 -1.05 -1.06 JPY
GBP/MXN 27.545 27.550 55.5 -87.94 16.66 MXN
GBP/NOK 12.302 12.306 40.4 -7.44 -11.16 NOK
GBP/NZD 1.9457 1.9468 10.9 -1.63 -1.38 NZD
GBP/PLN 5.12510 5.1480 229.9 -4.65 -3.01 PLN
GBP/SEK 11.498 11.501 35.0 -8 -9.2 SEK
GBP/SGD 1.7684 1.76900 5.9 -1.75 -1.67 SGD
GBP/TRY 10.854 10.879 248.7 -62.99 -32.33 TRY
GBP/USD 1.2971 1.2973 2.1 -0.89 -0.84 USD
GBP/ZAR 21.065 21.099 339.4 -64.44 -6.94 ZAR
NOK/SEK 0.9289 0.9380 90.4 -0.42 -1.06 SEK
NZD/CAD 0.8854 0.8862 8.1 -0.64 -0.74 CAD
NZD/CHF 0.6097 0.6100 3.2 -0.33 -0.67 CHF
NZD/JPY 69.6040 69.6460 4.2 -0.46 -0.63 JPY
NZD/SGD 0.9084 0.9090 5.4 -0.68 -0.79 SGD
NZD/USD 0.6663 0.6666 3.1 -0.46 -0.51 USD
USD/CAD 1.3290 1.3292 2.5 -0.99 -0.99 CAD
USD/CHF 0.9149 0.9151 2.0 -0.47 -1.19 CHF
USD/CNH 6.6795 6.6815 19.4 -13.73 -8.83 CNH
USD/CZK 23.270 23.387 1,171.4 -2.7 -1.5 CZK
USD/DKK 6.3668 6.3713 45.1 -3.35 -5.85 DKK
USD/HKD 7.7538 7.7543 5.2 -8.7 -3.76 HKD
USD/HUF 313.34 315.32 19,790.4 -3.41 -2.11 HUF
USD/ILS 3.7929 3.7930 0.4 -0.56 -0.7 ILS
USD/JPY 104.45 104.47 1.9 -0.69 -0.88 JPY
USD/MXN 21.233 21.236 36.2 -74.81 9.19 MXN
USD/NOK 9.4794 9.4911 117.6 -5.76 -7.4 NOK
USD/PLN 3.9440 3.9627 186.6 -3.62 -2.43 PLN
USD/RUB 79.061 79.145 839.4 -45.41 -15.07 RUB
USD/SEK 8.8598 8.8718 119.4 -6.47 -7.96 SEK
USD/SGD 1.3632 1.3636 4.4 -1.08 -1.19 SGD
USD/TRY 8.3700 8.3784 83.8 -47.71 -21.71 TRY
USD/ZAR 16.245 16.259 139.4 -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)