How much does Pepperstone charge in overnight swap fees?
Verdict
- Pepperstone doesn't publish one overnight swap figure: the charge (or credit) depends on the instrument, whether you are long or short, and the night it is applied, and the current rates sit in the trading platform.
- Pepperstone remains our top pick in Australia on cost, but if you hold positions for weeks, check the swap on your pairs before you trade.
- Swap-free accounts aren't an option for Australian residents: Pepperstone offers them only to residents of 23 listed countries.
- Perpetual CFDs use a different model: a funding rate set weekly in advance and applied daily at 5 pm New York time.
Swap is the overnight financing charge on a leveraged position held past the daily rollover. Pepperstone lists spreads and commissions on its costs page, but swap rates move with interest rates, so the live figure comes from the platform. Here is where to find it and how to turn it into dollars.
The direct answer for Pepperstone clients
There is no flat fee to quote. Each instrument carries a long swap and a short swap, and either can be a charge or a credit, so the place to check is the symbol specification in your platform. The rest of Pepperstone's cost structure is published: Razor averages 0.1 pips on EUR/USD plus USD 3.00–3.50 per side, Standard 1.1 pips with no commission, and index and crypto CFDs carry no commission. For day traders who close before the rollover, swap doesn't apply at all, which is where Pepperstone's low trading costs matter most.
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Where to find the exact swap rate
- MT4 or MT5: open Market Watch, right-click the symbol, choose Specification, and read 'Swap long' and 'Swap short'.
- cTrader: open the symbol's information panel to see its long and short swap.
- Check the units shown (points or a currency amount) before converting.
- Re-check before each long hold; rates change when interest rates move.
Turning a swap rate into dollars
If the specification shows swap in points, the nightly cost is the swap in points, multiplied by the value of one point for your position size, multiplied by the number of nights held. On a standard lot of EUR/USD, one pip is worth USD 10, so each pip of swap equals USD 10 a night. Multiply by the nights you plan to hold, and remember that positions open over the weekend may be charged for more than one night on a single rollover day; check the platform for how this applies to your instrument.
Alternatives to paying swap
| Option | How it works | Available to Australian residents? |
|---|---|---|
| Close before rollover | No position held overnight, no swap | Yes |
| Swap-free account | No swap; USD 100 admin charge per lot on FX and precious metals after 5 days | No; 23 listed countries only |
| Perpetual CFDs | Funding rate set weekly in advance, applied daily at 5 pm New York time | Listed on the Australian site; retail eligibility not stated |
Questions to ask before a long hold
- Is the swap on my direction a charge or a credit right now?
- How many nights will I hold, including weekends?
- Would the swap over that period be larger than the spread and commission I saved by choosing Razor?
Sources
Can Australians get a swap-free account at Pepperstone?
No. Pepperstone's swap-free account is limited to residents of 23 listed countries, and Australia isn't one of them.
Is swap charged on day trades?
No. Swap applies only to positions held past the daily rollover.
Does swap differ between Razor and Standard?
Pepperstone's pages in our data don't publish separate swap tables by account; check the specification in your own platform.
CFD trading is high risk because leverage magnifies losses as well as gains. General information only, not financial advice. Check each provider's PDS and current fees before opening an account.