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 0.9392 0.9397 4.7 -0.72 -0.72 CAD
AUD/CHF 0.6461 0.6463 2.5 -0.38 -0.68 CHF
AUD/JPY 73.8430 73.8670 2.4 -0.68 -0.63 JPY
AUD/NZD 1.0602 1.0605 2.8 -0.91 -0.92 NZD
AUD/USD 0.7061 0.7063 1.8 -0.51 -0.51 USD
CAD/CHF 0.6876 0.6880 3.4 -0.41 -0.74 CHF
CAD/JPY 78.5930 78.6220 2.9 -0.55 -0.7 JPY
CHF/JPY 114.26 114.29 2.7 -1.01 -0.66 JPY
EUR/AUD 1.6549 1.6552 2.6 -1.53 -1.36 AUD
EUR/CAD 1.5548 1.5552 4.3 -1.35 -0.86 CAD
EUR/CHF 1.0695 1.0697 1.9 -0.83 -0.85 CHF
EUR/CZK 27.206 27.338 1,315.0 -2.61 -1.58 CZK
EUR/DKK 7.4439 7.4469 29.9 -5.11 -5.01 DKK
EUR/GBP 0.9007 0.9009 2.4 -0.8 -0.53 GBP
EUR/HKD 9.0625 9.0642 16.7 -9.98 -5.95 HKD
EUR/HUF 366.20 368.57 23,670.0 -4.1 -1.29 HUF
EUR/JPY 122.22 122.25 2.2 -0.98 -0.78 JPY
EUR/MXN 24.811 24.820 91.0 -82.02 14.92 MXN
EUR/NOK 11.090 11.094 39.0 -8.46 -6.45 NOK
EUR/NZD 1.7548 1.7552 3.5 -1.75 -0.94 NZD
EUR/PLN 4.62130 4.62410 28.0 -4.81 -1.77 PLN
EUR/RUB 92.332 92.4510 1,187.0 -360.01 -91.01 RUB
EUR/SEK 10.357 10.361 32.0 -9 -7.06 SEK
EUR/SGD 1.5937 1.5943 6.6 -1.52 -1.12 SGD
EUR/TRY 9.7660 9.8030 369.6 -50.89 -21.39 TRY
EUR/USD 1.1688 1.1689 1.4 -0.97 -0.72 USD
EUR/ZAR 18.986 19.021 349.3 -60.66 -4.26 ZAR
GBP/AUD 1.8371 1.8373 2.6 -1.41 -1.35 AUD
GBP/CAD 1.7258 1.7263 5.3 -1.29 -1.26 CAD
GBP/CHF 1.18720 1.1874 2.9 -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 135.67 135.700 2.1 -1.05 -1.06 JPY
GBP/MXN 27.541 27.551 101.4 -87.94 16.66 MXN
GBP/NOK 12.310 12.314 38.9 -7.44 -11.16 NOK
GBP/NZD 1.9479 1.9484 4.7 -1.63 -1.38 NZD
GBP/PLN 5.1181 5.1448 267.0 -4.65 -3.01 PLN
GBP/SEK 11.497 11.500 31.4 -8 -9.2 SEK
GBP/SGD 1.7691 1.7698 6.8 -1.75 -1.67 SGD
GBP/TRY 10.840 10.882 424.3 -62.99 -32.33 TRY
GBP/USD 1.2974 1.29760 1.7 -0.89 -0.84 USD
GBP/ZAR 21.072 21.117 454.7 -64.44 -6.94 ZAR
NOK/SEK 0.92800 0.93900 110.0 -0.42 -1.06 SEK
NZD/CAD 0.8856 0.8863 6.9 -0.64 -0.74 CAD
NZD/CHF 0.6093 0.6095 2.6 -0.33 -0.67 CHF
NZD/JPY 69.6350 69.6620 2.7 -0.46 -0.63 JPY
NZD/SGD 0.9079 0.9085 5.4 -0.68 -0.79 SGD
NZD/USD 0.6658 0.6661 2.5 -0.46 -0.51 USD
USD/CAD 1.3302 1.3304 1.9 -0.99 -0.99 CAD
USD/CHF 0.9150 0.9151 1.6 -0.47 -1.19 CHF
USD/CNH 6.68450 6.68630 18.0 -13.73 -8.83 CNH
USD/CZK 23.274 23.397 1,230.0 -2.7 -1.5 CZK
USD/DKK 6.36700 6.3715 45.5 -3.35 -5.85 DKK
USD/HKD 7.7537 7.75420 4.9 -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 104.56 104.58 1.4 -0.69 -0.88 JPY
USD/MXN 21.226 21.233 74.1 -74.81 9.19 MXN
USD/NOK 9.4830 9.4950 119.7 -5.76 -7.4 NOK
USD/PLN 3.9447 3.9634 186.6 -3.62 -2.43 PLN
USD/RUB 78.999 79.087 879.0 -45.41 -15.07 RUB
USD/SEK 8.85870 8.86750 88.0 -6.47 -7.96 SEK
USD/SGD 1.36350 1.3639 4.7 -1.08 -1.19 SGD
USD/TRY 8.3637 8.3728 91.1 -47.71 -21.71 TRY
USD/ZAR 16.250 16.265 150.2 -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)