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 0.9166 0.9172 6.6 -0.32 -0.59 CAD
AUD/CHF 0.6783 0.6791 8.3 0.14 -0.91 CHF
AUD/JPY 74.5590 74.6010 4.2 -0.07 -0.73 JPY
AUD/NZD 1.0483 1.0489 5.8 -0.59 -0.44 NZD
AUD/USD 0.6957 0.6960 3.2 -0.51 -0.24 USD
CAD/CHF 0.7397 0.7405 7.9 0.03 -0.78 CHF
CAD/JPY 81.3080 81.3660 5.8 -0.1 -0.71 JPY
CHF/JPY 109.84 109.93 9.4 -0.73 -0.27 JPY
EUR/AUD 1.6331 1.6338 6.8 -1.69 0.33 AUD
EUR/CAD 1.4975 1.4981 6.7 -1.06 -0.22 CAD
EUR/CHF 1.1081 1.1091 9.3 -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 0.8958 0.8963 4.9 -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 121.80 121.84 3.6 -0.46 -0.64 JPY
EUR/MXN 21.856 21.866 108.0 -332.6 169.8 MXN
EUR/NOK 9.6990 9.7071 80.6 -6.61 -0.7 NOK
EUR/NZD 1.7123 1.7134 11.3 -1.96 0.53 NZD
EUR/PLN 4.2507 4.2582 74.8 -4.18 0.11 PLN
EUR/RUB 71.479 71.506 273.0 -260.18 16.82 RUB
EUR/SEK 10.541 10.553 121.0 -3.37 -4.35 SEK
EUR/SGD 1.5399 1.5406 6.4 -1.59 -0.19 SGD
EUR/TRY 6.58550 6.5971 116.3 -114.85 62.6 TRY
EUR/USD 1.1366 1.1368 2.4 -1.29 0.26 USD
EUR/ZAR 16.281 16.323 423.8 -226.5 104.65 ZAR
GBP/AUD 1.8223 1.8238 15.2 -1.49 -0.05 AUD
GBP/CAD 1.6709 1.6723 14.1 -1.05 -0.39 CAD
GBP/CHF 1.2362 1.2384 21.6 -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 135.91 136.01 9.8 -0.28 -0.98 JPY
GBP/MXN 24.340 24.433 937.3 -350.6 170.4 MXN
GBP/NOK 10.815 10.838 223.7 -4.75 -1.96 NOK
GBP/NZD 1.9100 1.9120 19.8 -1.74 0.07 NZD
GBP/PLN 4.7429 4.7529 100.6 -3.99 -1.09 PLN
GBP/SEK 11.761 11.781 194.6 -1.02 -7.74 SEK
GBP/SGD 1.7180 1.7201 21.3 -6.65 -3 SGD
GBP/TRY 7.3470 7.3657 187.3 -127.4 68.95 TRY
GBP/USD 1.2682 1.2692 10.3 -1.17 0.02 USD
GBP/ZAR 18.197 18.236 385.2 -238.85 101.05 ZAR
NOK/SEK 1.08550 1.08850 30.0 -0.15 -0.89 SEK
NZD/CAD 0.8740 0.8748 8.6 -0.19 -0.68 CAD
NZD/CHF 0.6468 0.6476 7.9 0.18 -0.93 CHF
NZD/JPY 71.0960 71.1510 5.5 1 -0.88 JPY
NZD/SGD 0.89890 0.8995 6.8 -0.35 -0.83 SGD
NZD/USD 0.6634 0.6639 4.7 -0.42 -0.31 USD
USD/CAD 1.3174 1.3178 4.4 -0.17 -0.8 CAD
USD/CHF 0.9747 0.9755 8.0 0.4 -1.31 CHF
USD/CNH 6.88080 6.88870 79.0 -17.91 -11.69 CNH
USD/CZK 22.355 22.411 560.0 -0.47 -2.1 CZK
USD/DKK 6.5642 6.5677 35.1 1.92 -6.49 DKK
USD/HKD 7.8085 7.8124 38.3 -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 107.150 107.18 3.2 2.3 -10.2 JPY
USD/MXN 19.227 19.236 87.1 -213.2 76.8 MXN
USD/NOK 8.5324 8.5392 67.7 -0.35 -5.65 NOK
USD/PLN 3.73820 3.74690 87.0 -1.49 -2.14 PLN
USD/RUB 65.089 65.089 0.0 -26.4 1.24 RUB
USD/SEK 9.27230 9.28750 152.0 2.58 -9.03 SEK
USD/SGD 1.3548 1.3551 3.0 -0.61 -1.02 SGD
USD/TRY 5.7900 5.7999 98.5 -81.4 38.6 TRY
USD/ZAR 14.330 14.357 275.4 -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)