What is “Swap”?

Swap is basically interest that you are either charged or paid. When open a “buy” or a “sell” position on a currency pair, what you are really doing is buying one and selling the other. Swap is paid to you when a positive offset of interest occurs and charged to you when a negative offset of interest occurs on the buy and sell. Wednesdays are triple swap days where you will either pay or receive more swap due to the weekend coming.