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 0.9027 0.9031 3.9 -0.32 -0.59 CAD
AUD/CHF 0.6635 0.66380 2.5 0.14 -0.91 CHF
AUD/JPY 72.0600 72.0830 2.3 -0.07 -0.73 JPY
AUD/NZD 1.0573 1.0576 2.9 -0.59 -0.44 NZD
AUD/USD 0.6775 0.6776 1.8 -0.51 -0.24 USD
CAD/CHF 0.73490 0.7351 2.8 0.03 -0.78 CHF
CAD/JPY 79.8090 79.8350 2.6 -0.1 -0.71 JPY
CHF/JPY 108.58 108.60 2.6 -0.73 -0.27 JPY
EUR/AUD 1.63510 1.6353 2.7 -1.69 0.33 AUD
EUR/CAD 1.4763 1.4766 3.4 -1.06 -0.22 CAD
EUR/CHF 1.0851 1.0853 1.5 -0.17 -0.9 CHF
EUR/CZK 25.778 25.821 432.0 -2.17 -0.93 CZK
EUR/DKK 7.4557 7.4570 13.6 -2.75 -2.93 DKK
EUR/GBP 0.9162 0.91650 2.5 -0.61 -0.19 GBP
EUR/HKD 8.6894 8.6905 10.7 -10.04 0.09 HKD
EUR/HUF 326.89 327.55 6,580.0 -1.85 -1.44 HUF
EUR/JPY 117.84 117.86 1.7 -0.46 -0.64 JPY
EUR/MXN 21.993 21.998 57.0 -332.6 169.8 MXN
EUR/NOK 9.96440 9.96740 30.0 -6.61 -0.7 NOK
EUR/NZD 1.7290 1.72940 3.2 -1.96 0.53 NZD
EUR/PLN 4.36340 4.36550 21.0 -4.18 0.11 PLN
EUR/RUB 74.183 74.225 425.0 -260.18 16.82 RUB
EUR/SEK 10.764 10.767 30.0 -3.37 -4.35 SEK
EUR/SGD 1.5354 1.5358 4.1 -1.59 -0.19 SGD
EUR/TRY 6.3311 6.3449 138.0 -114.85 62.6 TRY
EUR/USD 1.1079 1.10810 1.4 -1.29 0.26 USD
EUR/ZAR 17.021 17.036 153.6 -226.5 104.65 ZAR
GBP/AUD 1.7843 1.7845 2.8 -1.49 -0.05 AUD
GBP/CAD 1.61100 1.6114 4.2 -1.05 -0.39 CAD
GBP/CHF 1.1841 1.1844 3.1 -0.12 -1.08 CHF
GBP/CZK 28.617 28.617 0.0 -1.33 -1.77 CZK
GBP/DKK 8.1353 8.13910 37.7 -0.98 -5.34 DKK
GBP/HKD 9.4821 9.4843 22.2 -8.96 -2.68 HKD
GBP/HUF 360.100 360.100 0.0 -1.23 -2.57 HUF
GBP/JPY 128.59 128.61 2.2 -0.28 -0.98 JPY
GBP/MXN 23.999 24.006 65.7 -350.6 170.4 MXN
GBP/NOK 10.873 10.877 32.0 -4.75 -1.96 NOK
GBP/NZD 1.8868 1.8872 4.1 -1.74 0.07 NZD
GBP/PLN 4.7612 4.7643 31.3 -3.99 -1.09 PLN
GBP/SEK 11.747 11.750 31.1 -1.02 -7.74 SEK
GBP/SGD 1.6755 1.67600 4.3 -6.65 -3 SGD
GBP/TRY 6.9083 6.9246 163.0 -127.4 68.95 TRY
GBP/USD 1.2090 1.2092 1.7 -1.17 0.02 USD
GBP/ZAR 18.572 18.593 217.4 -238.85 101.05 ZAR
NOK/SEK 1.07650 1.08350 70.0 -0.15 -0.89 SEK
NZD/CAD 0.8535 0.8540 5.4 -0.19 -0.68 CAD
NZD/CHF 0.6274 0.6277 2.6 0.18 -0.93 CHF
NZD/JPY 68.1410 68.1660 2.5 1 -0.88 JPY
NZD/SGD 0.8878 0.8882 3.7 -0.35 -0.83 SGD
NZD/USD 0.6406 0.6408 2.4 -0.42 -0.31 USD
USD/CAD 1.3324 1.3326 1.8 -0.17 -0.8 CAD
USD/CHF 0.9793 0.9795 1.5 0.4 -1.31 CHF
USD/CNH 7.07140 7.07320 18.0 -17.91 -11.69 CNH
USD/CZK 23.262 23.303 408.0 -0.47 -2.1 CZK
USD/DKK 6.7285 6.73040 18.4 1.92 -6.49 DKK
USD/HKD 7.8422 7.8430 7.3 -3.12 -7.79 HKD
USD/HUF 295.09 295.54 4,480.0 0.17 -2.91 HUF
USD/ILS 3.79300 3.79300 0.0 0.07 -0.18 ILS
USD/JPY 106.35 106.370 1.4 2.3 -10.2 JPY
USD/MXN 19.849 19.853 43.2 -213.2 76.8 MXN
USD/NOK 8.99140 8.99730 59.0 -0.35 -5.65 NOK
USD/PLN 3.9343 3.9430 87.0 -1.49 -2.14 PLN
USD/RUB 65.089 65.089 0.0 -26.4 1.24 RUB
USD/SEK 9.71310 9.71990 68.0 2.58 -9.03 SEK
USD/SGD 1.38580 1.3860 2.9 -0.61 -1.02 SGD
USD/TRY 5.71600 5.7194 34.8 -81.4 38.6 TRY
USD/ZAR 15.364 15.372 76.4 -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(21:59 GMT)