Rollovers

什么是rollovers

当你买入一种货币对的时候，你要么支付利息，要么获得利息(charges or credits)。以下是专家的解释:" You can think of rollovers as putting money into one bank and borrowing money from another bank. For example: Let's say you want to earn on the rollover (interest differential between two countries/banks). The Bank of England (GBP)'s interest rate is 5.5%. The Bank of Japan (JPY)'s interest rate is 0.5%. If you wanted to in this circumstance you would borrow money from the Bank of Japan (0.5%) and deposit it into the Bank of England (+5.5%), thus earning 5.0% on the money you borrowed. However, the rates are compounded daily, thus causing a much smaller interest rate differential. The same principles apply when you buy (go long), on the currency pair GBP/JPY. Essentially you are buying the GBP (the base currency) and selling JPY (the counter currency) at the same time. Because the interest rate is currently higher on the GBP (Bank of England) than the JPY (Bank of Japan), you will earn interest on the position when rolled over.... The exception is a position opened and held overnight on Wednesday. The normal value date would be Saturday（not next day）; because banks are closed on Saturday the value date is actually the following Monday. Due to the weekend, positions held overnight on Wednesday incur or earn an extra two days of interest. Trades with a value date that falls on a holiday will also incur or earn additional interest.... "

rollover总是在16:59进行，也就是加拿大14:59(冬令时)， 所以在这个时间点之前平仓就可以避免rollovers问题。

如何确定rollovers

加拿大人最好在http://www.forex.com/ca/trading-platforms/forextrader/pricing/rollovers.html查看每天的rollovers(Rollovers are calculated based on 10,000 position, and amounts are in USD), 或者在forex客户端查看。

影响rollovers的条件

• The interest rate differentials between the country's associated with the pair you're trading. Have a glance to http://www.global-rates.com/interest-rates/central-banks/central-banks.aspx as a quick reference.
• the day of the week(一般来说在周三最有利)

以下几点要注意:

• FOREX.com 会对各国银行interest rate进行修正，这也是他们的赚点之一。
• 对于当前利息差别很大的两个国家,每天的rollover值变化不大。
• 即使是高级客户也不享受rollovers的优惠。