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 4.6 -0.72 -0.72 CAD
AUD/CHF 0.6456 0.6459 2.8 -0.38 -0.68 CHF
AUD/JPY 73.8550 73.8790 2.4 -0.68 -0.63 JPY
AUD/NZD 1.06030 1.0606 3.1 -0.91 -0.92 NZD
AUD/USD 0.7060 0.7062 1.8 -0.51 -0.51 USD
CAD/CHF 0.6872 0.6875 3.4 -0.41 -0.74 CHF
CAD/JPY 78.6090 78.6430 3.4 -0.55 -0.7 JPY
CHF/JPY 114.36 114.39 3.1 -1.01 -0.66 JPY
EUR/AUD 1.6560 1.65630 2.7 -1.53 -1.36 AUD
EUR/CAD 1.5556 1.5561 4.5 -1.35 -0.86 CAD
EUR/CHF 1.0694 1.0696 2.0 -0.83 -0.85 CHF
EUR/CZK 27.185 27.316 1,315.0 -2.61 -1.58 CZK
EUR/DKK 7.4438 7.4468 29.9 -5.11 -5.01 DKK
EUR/GBP 0.9015 0.9018 2.7 -0.8 -0.53 GBP
EUR/HKD 9.0677 9.0693 16.7 -9.98 -5.95 HKD
EUR/HUF 366.19 368.56 23,670.0 -4.1 -1.29 HUF
EUR/JPY 122.32 122.34 2.0 -0.98 -0.78 JPY
EUR/MXN 24.842 24.850 86.0 -82.02 14.92 MXN
EUR/NOK 11.093 11.097 40.0 -8.46 -6.45 NOK
EUR/NZD 1.7560 1.7564 3.6 -1.75 -0.94 NZD
EUR/PLN 4.62070 4.62360 29.0 -4.81 -1.77 PLN
EUR/RUB 92.420 92.534 1,143.0 -360.01 -91.01 RUB
EUR/SEK 10.362 10.3660 32.0 -9 -7.06 SEK
EUR/SGD 1.5944 1.5953 8.3 -1.52 -1.12 SGD
EUR/TRY 9.7826 9.8096 269.4 -50.89 -21.39 TRY
EUR/USD 1.1694 1.1696 1.6 -0.97 -0.72 USD
EUR/ZAR 19.024 19.059 349.5 -60.66 -4.26 ZAR
GBP/AUD 1.8366 1.8369 2.8 -1.41 -1.35 AUD
GBP/CAD 1.7252 1.7259 7.1 -1.29 -1.26 CAD
GBP/CHF 1.1860 1.1864 3.6 -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 135.66 135.69 2.3 -1.05 -1.06 JPY
GBP/MXN 27.551 27.560 83.3 -87.94 16.66 MXN
GBP/NOK 12.303 12.307 38.7 -7.44 -11.16 NOK
GBP/NZD 1.94760 1.9480 4.4 -1.63 -1.38 NZD
GBP/PLN 5.1125 5.1391 266.6 -4.65 -3.01 PLN
GBP/SEK 11.492 11.496 31.5 -8 -9.2 SEK
GBP/SGD 1.7684 1.7692 8.0 -1.75 -1.67 SGD
GBP/TRY 10.849 10.879 300.7 -62.99 -32.33 TRY
GBP/USD 1.2970 1.29720 1.8 -0.89 -0.84 USD
GBP/ZAR 21.097 21.140 430.3 -64.44 -6.94 ZAR
NOK/SEK 0.92800 0.93900 110.0 -0.42 -1.06 SEK
NZD/CAD 0.8855 0.8862 7.5 -0.64 -0.74 CAD
NZD/CHF 0.6088 0.6091 3.1 -0.33 -0.67 CHF
NZD/JPY 69.6410 69.6750 3.4 -0.46 -0.63 JPY
NZD/SGD 0.90790 0.9083 4.5 -0.68 -0.79 SGD
NZD/USD 0.66580 0.6660 2.6 -0.46 -0.51 USD
USD/CAD 1.3302 1.3304 2.2 -0.99 -0.99 CAD
USD/CHF 0.9144 0.91460 1.7 -0.47 -1.19 CHF
USD/CNH 6.68260 6.68450 19.0 -13.73 -8.83 CNH
USD/CZK 23.237 23.360 1,229.0 -2.7 -1.5 CZK
USD/DKK 6.3628 6.3674 45.4 -3.35 -5.85 DKK
USD/HKD 7.7537 7.7541 4.8 -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 104.59 104.60 1.4 -0.69 -0.88 JPY
USD/MXN 21.240 21.247 67.0 -74.81 9.19 MXN
USD/NOK 9.4809 9.4919 109.9 -5.76 -7.4 NOK
USD/PLN 3.9428 3.9615 186.5 -3.62 -2.43 PLN
USD/RUB 79.030 79.114 839.0 -45.41 -15.07 RUB
USD/SEK 8.85740 8.86620 88.0 -6.47 -7.96 SEK
USD/SGD 1.3634 1.3639 4.4 -1.08 -1.19 SGD
USD/TRY 8.3707 8.3768 61.8 -47.71 -21.71 TRY
USD/ZAR 16.275 16.288 124.3 -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)