Swaps are applied only when positions are kept open until the next forex trading day.
Some currency pairs may have negative swap rates on both sides, both ‘long’ and ‘short’.
Swap rates are calculated in points, MT4 convert them automatically into the base currency of your account.
Each currency pair has its own swap charge and is measured on a standard size of 1.0 lots (100,000 base units).
On Wednesday night swaps are charged at triple rate the usual rate.
Right click on any instrument in the ‘Market Watch’ section of the MT4 Platform, then left click on the ‘Specification’ option from the dropdown menu. A new window will open that shows the long and short swap rate for the pair selected.