The carry interest for IBKR Forex CFDs is based on a currency-pair specific benchmark and a spread. The benchmark is the difference between the IBKR benchmark rates for the two currencies. It is calculated as + BM Base currency - BM Quote currency. For example, April 21, 2016 the GBP benchmark rate was 0.483%, the USD rate was 0.37%. The applicable benchmark rate is:
Currency Pair | BM Base Currency | BM Quote Currency | Pair BM (Base BM - Quote BM) | |
---|---|---|---|---|
GBP.USD | 0.483% | 0.370% | = | 0.113% |
The applicable customer rate is Pair BM - IBKR spread for long positions, Pair BM + spread for short positions. It is important to note that the long rate is applied as a credit, the short rate as a debit. Consequently for a long position a positive rate means a credit, a negative rate a charge. However for short positions a positive rate means a charge, a negative rate a credit. For example:
Currency Pair | Position | Pair BM | IBKR Spread | Applicable Customer Rate | |
---|---|---|---|---|---|
GBP.USD | Long | 0.113% | -1.00% | = | -0.887% |
GBP.USD | Short | 0.113% | 1.00% | = | 1.113% |
Interest is calculated on the contract value expressed in the quote currency, and credited or debited in that currency. For example:
Currency Pair | Position | GBP.USD Close | USD Value | Daily Interest Rate | USD |
---|---|---|---|---|---|
GBP.USD | -20,000 | 1.43232 | -28,646.40 | 1.113% | -0.89 |
Balance Cutoffs (in Quote Currency) | Contract Interest Charged/Paid on Open CFD Positions | ||||||||
---|---|---|---|---|---|---|---|---|---|
Currency Pair | Position | Tier I | Tier II | Pair BM | Forex CFDs Below Tier I |
Forex CFDs Between Tier I & II |
Forex CFDs Above Tier II |
||
AUD.CAD | Long/Short1 | 1300000 | 13000000 | -0.398% | -1.398% / 0.602% (BM -/+ 1%) | -1.148% / 0.352% (BM -/+ 0.75%) | -0.898% / 0.102% (BM -/+ 0.5%) | ||
AUD.CHF | Long/Short1 | 1000000 | 10000000 | 1.328% | 0.328% / 2.328% (BM -/+ 1%) | 0.578% / 2.078% (BM -/+ 0.75%) | 0.828% / 1.828% (BM -/+ 0.5%) | ||
AUD.CNH | Long/Short1 | 6500000 | 65000000 | -0.917% | -2.417% / 0.583% (BM -/+ 1.5%) | -2.167% / 0.333% (BM -/+ 1.25%) | -1.917% / 0.083% (BM -/+ 1%) | ||
AUD.HKD | Long/Short1 | 8000000 | 80000000 | 0.762% | -0.738% / 2.262% (BM -/+ 1.5%) | -0.488% / 2.012% (BM -/+ 1.25%) | -0.238% / 1.762% (BM -/+ 1%) | ||
AUD.JPY | Long/Short1 | 110000000 | 1100000000 | 1.459% | 0.459% / 2.459% (BM -/+ 1%) | 0.709% / 2.209% (BM -/+ 0.75%) | 0.959% / 1.959% (BM -/+ 0.5%) | ||
AUD.NZD | Long/Short1 | 1300000 | 13000000 | -0.682% | -1.682% / 0.318% (BM -/+ 1%) | -1.432% / 0.068% (BM -/+ 0.75%) | -1.182% / -0.182% (BM -/+ 0.5%) | ||
AUD.SGD | Long/Short1 | 1300000 | 13000000 | -0.656% | -1.655% / 0.345% (BM -/+ 1%) | -1.405% / 0.095% (BM -/+ 0.75%) | -1.155% / -0.155% (BM -/+ 0.5%) | ||
AUD.USD | Long/Short1 | 1000000 | 10000000 | -0.586% | -1.586% / 0.414% (BM -/+ 1%) | -1.336% / 0.164% (BM -/+ 0.75%) | -1.086% / -0.086% (BM -/+ 0.5%) | ||
AUD.ZAR | Long/Short1 | 14000000 | 140000000 | -3.057% | -4.557% / -1.557% (BM -/+ 1.5%) | -4.307% / -1.807% (BM -/+ 1.25%) | -4.057% / -2.057% (BM -/+ 1%) | ||
CAD.CHF | Long/Short1 | 1000000 | 10000000 | 1.726% | 0.726% / 2.726% (BM -/+ 1%) | 0.976% / 2.476% (BM -/+ 0.75%) | 1.226% / 2.226% (BM -/+ 0.5%) | ||
CAD.CNH | Long/Short1 | 6500000 | 65000000 | -0.519% | -2.019% / 0.981% (BM -/+ 1.5%) | -1.769% / 0.731% (BM -/+ 1.25%) | -1.519% / 0.481% (BM -/+ 1%) | ||
CAD.HKD | Long/Short1 | 8000000 | 80000000 | 1.160% | -0.340% / 2.660% (BM -/+ 1.5%) | -0.090% / 2.410% (BM -/+ 1.25%) | 0.160% / 2.160% (BM -/+ 1%) | ||
CAD.JPY | Long/Short1 | 110000000 | 1100000000 | 1.857% | 0.857% / 2.857% (BM -/+ 1%) | 1.107% / 2.607% (BM -/+ 0.75%) | 1.357% / 2.357% (BM -/+ 0.5%) | ||
CHF.CNH | Long/Short1 | 6500000 | 65000000 | -2.246% | -3.745% / -0.745% (BM -/+ 1.5%) | -3.495% / -0.995% (BM -/+ 1.25%) | -3.245% / -1.245% (BM -/+ 1%) | ||
CHF.DKK | Long/Short1 | 6500000 | 65000000 | 0.345% | -0.655% / 1.345% (BM -/+ 1%) | -0.405% / 1.095% (BM -/+ 0.75%) | -0.155% / 0.845% (BM -/+ 0.5%) | ||
CHF.JPY | Long/Short1 | 110000000 | 1100000000 | 0.131% | -0.869% / 1.131% (BM -/+ 1%) | -0.619% / 0.881% (BM -/+ 0.75%) | -0.369% / 0.631% (BM -/+ 0.5%) | ||
CHF.NOK | Long/Short1 | 8000000 | 80000000 | -1.485% | -2.485% / -0.485% (BM -/+ 1%) | -2.235% / -0.735% (BM -/+ 0.75%) | -1.985% / -0.985% (BM -/+ 0.5%) | ||
CHF.SEK | Long/Short1 | 8000000 | 80000000 | -0.399% | -1.399% / 0.601% (BM -/+ 1%) | -1.149% / 0.351% (BM -/+ 0.75%) | -0.899% / 0.101% (BM -/+ 0.5%) | ||
CHF.ZAR | Long/Short1 | 14000000 | 140000000 | -4.385% | -5.885% / -2.885% (BM -/+ 1.5%) | -5.635% / -3.135% (BM -/+ 1.25%) | -5.385% / -3.385% (BM -/+ 1%) | ||
CNH.HKD | Long/Short1 | 8000000 | 80000000 | 1.679% | 0.179% / 3.179% (BM -/+ 1.5%) | 0.429% / 2.929% (BM -/+ 1.25%) | 0.679% / 2.679% (BM -/+ 1%) | ||
CNH.JPY | Long/Short1 | 110000000 | 1100000000 | 2.376% | 0.876% / 3.876% (BM -/+ 1.5%) | 1.126% / 3.626% (BM -/+ 1.25%) | 1.376% / 3.376% (BM -/+ 1%) | ||
DKK.JPY | Long/Short1 | 110000000 | 1100000000 | -0.214% | -1.214% / 0.786% (BM -/+ 1%) | -0.964% / 0.536% (BM -/+ 0.75%) | -0.714% / 0.286% (BM -/+ 0.5%) | ||
DKK.NOK | Long/Short1 | 8000000 | 80000000 | -1.830% | -2.830% / -0.830% (BM -/+ 1%) | -2.580% / -1.080% (BM -/+ 0.75%) | -2.330% / -1.330% (BM -/+ 0.5%) | ||
DKK.SEK | Long/Short1 | 8000000 | 80000000 | -0.743% | -1.743% / 0.257% (BM -/+ 1%) | -1.493% / 0.007% (BM -/+ 0.75%) | -1.243% / -0.243% (BM -/+ 0.5%) | ||
EUR.AUD | Long/Short1 | 1300000 | 13000000 | -1.602% | -2.602% / -0.602% (BM -/+ 1%) | -2.352% / -0.852% (BM -/+ 0.75%) | -2.102% / -1.102% (BM -/+ 0.5%) | ||
EUR.CAD | Long/Short1 | 1300000 | 13000000 | -2.000% | -3.000% / -1.000% (BM -/+ 1%) | -2.750% / -1.250% (BM -/+ 0.75%) | -2.500% / -1.500% (BM -/+ 0.5%) | ||
EUR.CHF | Long/Short1 | 1000000 | 10000000 | -0.274% | -1.274% / 0.726% (BM -/+ 1%) | -1.024% / 0.476% (BM -/+ 0.75%) | -0.774% / 0.226% (BM -/+ 0.5%) | ||
EUR.CNH | Long/Short1 | 6500000 | 65000000 | -2.519% | -4.019% / -1.019% (BM -/+ 1.5%) | -3.769% / -1.269% (BM -/+ 1.25%) | -3.519% / -1.519% (BM -/+ 1%) | ||
EUR.CZK | Long/Short1 | 25000000 | 250000000 | -7.237% | -8.737% / -5.737% (BM -/+ 1.5%) | -8.487% / -5.987% (BM -/+ 1.25%) | -8.237% / -6.237% (BM -/+ 1%) | ||
EUR.DKK | Long/Short1 | 6500000 | 65000000 | 0.071% | -0.929% / 1.071% (BM -/+ 1%) | -0.679% / 0.821% (BM -/+ 0.75%) | -0.429% / 0.571% (BM -/+ 0.5%) | ||
EUR.GBP | Long/Short1 | 700000 | 7000000 | -1.872% | -2.872% / -0.872% (BM -/+ 1%) | -2.622% / -1.122% (BM -/+ 0.75%) | -2.372% / -1.372% (BM -/+ 0.5%) | ||
EUR.HKD | Long/Short1 | 8000000 | 80000000 | -0.840% | -2.340% / 0.660% (BM -/+ 1.5%) | -2.090% / 0.410% (BM -/+ 1.25%) | -1.840% / 0.160% (BM -/+ 1%) | ||
EUR.HUF | Long/Short1 | 280000000 | 2800000000 | -6.056% | -7.556% / -4.556% (BM -/+ 1.5%) | -7.306% / -4.806% (BM -/+ 1.25%) | -7.056% / -5.056% (BM -/+ 1%) | ||
EUR.ILS | Long/Short1 | 4000000 | 40000000 | -1.418% | -2.918% / 0.082% (BM -/+ 1.5%) | -2.668% / -0.168% (BM -/+ 1.25%) | -2.418% / -0.418% (BM -/+ 1%) | ||
EUR.JPY | Long/Short1 | 110000000 | 1100000000 | -0.143% | -1.143% / 0.857% (BM -/+ 1%) | -0.893% / 0.607% (BM -/+ 0.75%) | -0.643% / 0.357% (BM -/+ 0.5%) | ||
EUR.MXN | Long/Short1 | 17000000 | 170000000 | -8.766% | -10.265% / -7.265% (BM -/+ 1.5%) | -10.015% / -7.515% (BM -/+ 1.25%) | -9.765% / -7.765% (BM -/+ 1%) | ||
EUR.NOK | Long/Short1 | 8000000 | 80000000 | -1.759% | -2.759% / -0.759% (BM -/+ 1%) | -2.509% / -1.009% (BM -/+ 0.75%) | -2.259% / -1.259% (BM -/+ 0.5%) | ||
EUR.NZD | Long/Short1 | 1300000 | 13000000 | -2.284% | -3.284% / -1.284% (BM -/+ 1%) | -3.034% / -1.534% (BM -/+ 0.75%) | -2.784% / -1.784% (BM -/+ 0.5%) | ||
EUR.PLN | Long/Short1 | 4000000 | 40000000 | -6.742% | -8.242% / -5.242% (BM -/+ 1.5%) | -7.992% / -5.492% (BM -/+ 1.25%) | -7.742% / -5.742% (BM -/+ 1%) | ||
EUR.RUB | Long/Short1 | 70000000 | 700000000 | -9.598% | -11.098% / -8.098% (BM -/+ 1.5%) | -10.848% / -8.348% (BM -/+ 1.25%) | -10.598% / -8.598% (BM -/+ 1%) | ||
EUR.SEK | Long/Short1 | 8000000 | 80000000 | -0.672% | -1.672% / 0.328% (BM -/+ 1%) | -1.422% / 0.078% (BM -/+ 0.75%) | -1.172% / -0.172% (BM -/+ 0.5%) | ||
EUR.SGD | Long/Short1 | 1300000 | 13000000 | -2.258% | -3.258% / -1.258% (BM -/+ 1%) | -3.008% / -1.508% (BM -/+ 0.75%) | -2.758% / -1.758% (BM -/+ 0.5%) | ||
EUR.USD | Long/Short1 | 1000000 | 10000000 | -2.188% | -3.188% / -1.188% (BM -/+ 1%) | -2.938% / -1.438% (BM -/+ 0.75%) | -2.688% / -1.688% (BM -/+ 0.5%) | ||
EUR.ZAR | Long/Short1 | 14000000 | 140000000 | -4.659% | -6.159% / -3.159% (BM -/+ 1.5%) | -5.909% / -3.409% (BM -/+ 1.25%) | -5.659% / -3.659% (BM -/+ 1%) | ||
GBP.AUD | Long/Short1 | 1300000 | 13000000 | 0.270% | -0.730% / 1.270% (BM -/+ 1%) | -0.480% / 1.020% (BM -/+ 0.75%) | -0.230% / 0.770% (BM -/+ 0.5%) | ||
GBP.CAD | Long/Short1 | 1300000 | 13000000 | -0.128% | -1.128% / 0.872% (BM -/+ 1%) | -0.878% / 0.622% (BM -/+ 0.75%) | -0.628% / 0.372% (BM -/+ 0.5%) | ||
GBP.CHF | Long/Short1 | 1000000 | 10000000 | 1.598% | 0.598% / 2.598% (BM -/+ 1%) | 0.848% / 2.348% (BM -/+ 0.75%) | 1.098% / 2.098% (BM -/+ 0.5%) | ||
GBP.CNH | Long/Short1 | 6500000 | 65000000 | -0.647% | -2.147% / 0.853% (BM -/+ 1.5%) | -1.897% / 0.603% (BM -/+ 1.25%) | -1.647% / 0.353% (BM -/+ 1%) | ||
GBP.DKK | Long/Short1 | 6500000 | 65000000 | 1.943% | 0.943% / 2.943% (BM -/+ 1%) | 1.193% / 2.693% (BM -/+ 0.75%) | 1.443% / 2.443% (BM -/+ 0.5%) | ||
GBP.HKD | Long/Short1 | 8000000 | 80000000 | 1.032% | -0.468% / 2.532% (BM -/+ 1.5%) | -0.218% / 2.282% (BM -/+ 1.25%) | 0.032% / 2.032% (BM -/+ 1%) | ||
GBP.JPY | Long/Short1 | 110000000 | 1100000000 | 1.729% | 0.729% / 2.729% (BM -/+ 1%) | 0.979% / 2.479% (BM -/+ 0.75%) | 1.229% / 2.229% (BM -/+ 0.5%) | ||
GBP.MXN | Long/Short1 | 17000000 | 170000000 | -6.894% | -8.393% / -5.394% (BM -/+ 1.5%) | -8.143% / -5.644% (BM -/+ 1.25%) | -7.894% / -5.894% (BM -/+ 1%) | ||
GBP.NOK | Long/Short1 | 8000000 | 80000000 | 0.113% | -0.887% / 1.113% (BM -/+ 1%) | -0.637% / 0.863% (BM -/+ 0.75%) | -0.387% / 0.613% (BM -/+ 0.5%) | ||
GBP.NZD | Long/Short1 | 1300000 | 13000000 | -0.412% | -1.412% / 0.588% (BM -/+ 1%) | -1.162% / 0.338% (BM -/+ 0.75%) | -0.912% / 0.088% (BM -/+ 0.5%) | ||
GBP.SEK | Long/Short1 | 8000000 | 80000000 | 1.200% | 0.200% / 2.200% (BM -/+ 1%) | 0.450% / 1.950% (BM -/+ 0.75%) | 0.700% / 1.700% (BM -/+ 0.5%) | ||
GBP.USD | Long/Short1 | 1000000 | 10000000 | -0.316% | -1.316% / 0.684% (BM -/+ 1%) | -1.066% / 0.434% (BM -/+ 0.75%) | -0.816% / 0.184% (BM -/+ 0.5%) | ||
GBP.ZAR | Long/Short1 | 14000000 | 140000000 | -2.787% | -4.287% / -1.287% (BM -/+ 1.5%) | -4.037% / -1.537% (BM -/+ 1.25%) | -3.787% / -1.787% (BM -/+ 1%) | ||
HKD.JPY | Long/Short1 | 110000000 | 1100000000 | 0.697% | -0.803% / 2.197% (BM -/+ 1.5%) | -0.553% / 1.947% (BM -/+ 1.25%) | -0.303% / 1.697% (BM -/+ 1%) | ||
MXN.JPY | Long/Short1 | 110000000 | 1100000000 | 8.623% | 7.123% / 10.123% (BM -/+ 1.5%) | 7.373% / 9.873% (BM -/+ 1.25%) | 7.623% / 9.623% (BM -/+ 1%) | ||
NOK.JPY | Long/Short1 | 110000000 | 1100000000 | 1.616% | 0.616% / 2.616% (BM -/+ 1%) | 0.866% / 2.366% (BM -/+ 0.75%) | 1.116% / 2.116% (BM -/+ 0.5%) | ||
NOK.SEK | Long/Short1 | 8000000 | 80000000 | 1.087% | 0.087% / 2.087% (BM -/+ 1%) | 0.337% / 1.837% (BM -/+ 0.75%) | 0.587% / 1.587% (BM -/+ 0.5%) | ||
NZD.CAD | Long/Short1 | 1300000 | 13000000 | 0.284% | -0.716% / 1.284% (BM -/+ 1%) | -0.466% / 1.034% (BM -/+ 0.75%) | -0.216% / 0.784% (BM -/+ 0.5%) | ||
NZD.CHF | Long/Short1 | 1000000 | 10000000 | 2.010% | 1.010% / 3.010% (BM -/+ 1%) | 1.260% / 2.760% (BM -/+ 0.75%) | 1.510% / 2.510% (BM -/+ 0.5%) | ||
NZD.JPY | Long/Short1 | 110000000 | 1100000000 | 2.141% | 1.141% / 3.141% (BM -/+ 1%) | 1.391% / 2.891% (BM -/+ 0.75%) | 1.641% / 2.641% (BM -/+ 0.5%) | ||
NZD.USD | Long/Short1 | 1000000 | 10000000 | 0.096% | -0.904% / 1.096% (BM -/+ 1%) | -0.654% / 0.846% (BM -/+ 0.75%) | -0.404% / 0.596% (BM -/+ 0.5%) | ||
SEK.JPY | Long/Short1 | 110000000 | 1100000000 | 0.530% | -0.471% / 1.530% (BM -/+ 1%) | -0.221% / 1.280% (BM -/+ 0.75%) | 0.029% / 1.030% (BM -/+ 0.5%) | ||
SGD.CNH | Long/Short1 | 6500000 | 65000000 | -0.262% | -1.762% / 1.238% (BM -/+ 1.5%) | -1.512% / 0.988% (BM -/+ 1.25%) | -1.262% / 0.738% (BM -/+ 1%) | ||
SGD.JPY | Long/Short1 | 110000000 | 1100000000 | 2.115% | 1.115% / 3.115% (BM -/+ 1%) | 1.365% / 2.865% (BM -/+ 0.75%) | 1.615% / 2.615% (BM -/+ 0.5%) | ||
USD.CAD | Long/Short1 | 1300000 | 13000000 | 0.188% | -0.812% / 1.188% (BM -/+ 1%) | -0.562% / 0.938% (BM -/+ 0.75%) | -0.312% / 0.688% (BM -/+ 0.5%) | ||
USD.CHF | Long/Short1 | 1000000 | 10000000 | 1.914% | 0.914% / 2.914% (BM -/+ 1%) | 1.164% / 2.664% (BM -/+ 0.75%) | 1.414% / 2.414% (BM -/+ 0.5%) | ||
USD.CNH | Long/Short1 | 6500000 | 65000000 | -0.331% | -1.831% / 1.169% (BM -/+ 1.5%) | -1.581% / 0.919% (BM -/+ 1.25%) | -1.331% / 0.669% (BM -/+ 1%) | ||
USD.CZK | Long/Short1 | 25000000 | 250000000 | -5.050% | -6.550% / -3.550% (BM -/+ 1.5%) | -6.300% / -3.800% (BM -/+ 1.25%) | -6.050% / -4.050% (BM -/+ 1%) | ||
USD.DKK | Long/Short1 | 6500000 | 65000000 | 2.259% | 1.259% / 3.259% (BM -/+ 1%) | 1.509% / 3.009% (BM -/+ 0.75%) | 1.759% / 2.759% (BM -/+ 0.5%) | ||
USD.HKD | Long/Short1 | 8000000 | 80000000 | 1.348% | -0.152% / 2.848% (BM -/+ 1.5%) | 0.098% / 2.598% (BM -/+ 1.25%) | 0.348% / 2.348% (BM -/+ 1%) | ||
USD.HUF | Long/Short1 | 280000000 | 2800000000 | -3.868% | -5.368% / -2.368% (BM -/+ 1.5%) | -5.118% / -2.618% (BM -/+ 1.25%) | -4.868% / -2.868% (BM -/+ 1%) | ||
USD.ILS | Long/Short1 | 4000000 | 40000000 | 0.769% | -0.731% / 2.269% (BM -/+ 1.5%) | -0.481% / 2.019% (BM -/+ 1.25%) | -0.231% / 1.769% (BM -/+ 1%) | ||
USD.JPY | Long/Short1 | 110000000 | 1100000000 | 2.045% | 1.045% / 3.045% (BM -/+ 1%) | 1.295% / 2.795% (BM -/+ 0.75%) | 1.545% / 2.545% (BM -/+ 0.5%) | ||
USD.MXN | Long/Short1 | 17000000 | 170000000 | -6.578% | -8.078% / -5.078% (BM -/+ 1.5%) | -7.828% / -5.328% (BM -/+ 1.25%) | -7.578% / -5.578% (BM -/+ 1%) | ||
USD.NOK | Long/Short1 | 8000000 | 80000000 | 0.429% | -0.571% / 1.429% (BM -/+ 1%) | -0.321% / 1.179% (BM -/+ 0.75%) | -0.071% / 0.929% (BM -/+ 0.5%) | ||
USD.PLN | Long/Short1 | 4000000 | 40000000 | -4.555% | -6.054% / -3.054% (BM -/+ 1.5%) | -5.804% / -3.304% (BM -/+ 1.25%) | -5.554% / -3.554% (BM -/+ 1%) | ||
USD.RUB | Long/Short1 | 70000000 | 700000000 | -7.410% | -8.910% / -5.910% (BM -/+ 1.5%) | -8.660% / -6.160% (BM -/+ 1.25%) | -8.410% / -6.410% (BM -/+ 1%) | ||
USD.SEK | Long/Short1 | 8000000 | 80000000 | 1.516% | 0.516% / 2.516% (BM -/+ 1%) | 0.766% / 2.266% (BM -/+ 0.75%) | 1.016% / 2.016% (BM -/+ 0.5%) | ||
USD.SGD | Long/Short1 | 1300000 | 13000000 | -0.070% | -1.070% / 0.930% (BM -/+ 1%) | -0.820% / 0.680% (BM -/+ 0.75%) | -0.570% / 0.430% (BM -/+ 0.5%) | ||
USD.ZAR | Long/Short1 | 14000000 | 140000000 | -2.471% | -3.971% / -0.971% (BM -/+ 1.5%) | -3.721% / -1.221% (BM -/+ 1.25%) | -3.471% / -1.471% (BM -/+ 1%) | ||
ZAR.JPY | Long/Short1 | 110000000 | 1100000000 | 4.516% | 3.016% / 6.016% (BM -/+ 1.5%) | 3.266% / 5.766% (BM -/+ 1.25%) | 3.516% / 5.516% (BM -/+ 1%) |
Note: * Interest on Forex CFD balances is calculated on a stand-alone contract basis, and not combined or netted with other currency exposures, including Spot FX. Although IBKR does not directly reference swap rates, IBKR reserves the right to apply higher spreads in exceptional market conditions, such as during spikes in swap rates that can occur around fiscal year-ends.