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Re: [ANN] Evolve Markets - Trade FOREX , Crypto and more with Bitcoin
by
tjweb
on 19/05/2018, 20:00:08 UTC
Quote from: EvolveMarkets on May 19, 2018, 12:57:30 AM
Quote from: tjweb on May 17, 2018, 01:01:55 AM
Quote from: EvolveMarkets on May 08, 2018, 11:46:00 PM
The swap calculation for gold is 100 oz since our XAUUSD has a contract size of 100. 1 lot =100oz

The swap for XAUUSD is -0.01. Is this -0.01 oz or -0.01 USD?

In EURUSD the swap is denominated in EUR (the left currency), so I suppose in the case of XAUUSD it should be left part too (XAU). If this is correct -0.01 oz (from 100 oz) is -0.01% and this is -3.65% per year (365 days). The minus means that the trader is paying the swap. Is this correct?



Hello tjweb,

You are correct, the margin currency is XAU. The long swap currently is -0.012385 OZ so we take current rate 1292.65*0.012385 and this comes to $16. Currently, for every 1 lot long( 100 oz ), the swap cost is $16, in bitcoin, per day.

Regards,
Evolve

But MetaTrader (web versions) says the swap type is USD (the swap is -0.005998 USD per lot or per oz? Or else?). This contradicts to the above.