How to Check Swap Rates for Gold in MT4 and MT5, and Turn Them Into Dollars

The swap on gold can cost more than the spread for anyone who holds trades for more than a couple of days. MetaTrader shows it, but not in an obvious place, and often in units that need converting.

Where to find it

MT5: Market Watch → right-click XAUUSD → Specification. Look for:

• Swap type points, money (deposit currency) or interest.
• Swap long and swap short.
• 3-days swap the weekday when three nights are charged.

MT4: Market Watch → right-click → Specification (or Symbols → Properties). Swap long and swap short are listed; the triple-swap day may be on the broker's website instead.

Converting to dollars per lot

If the swap type is points: dollars per lot per night = swap in points × point value per lot.

For gold with 2 digits and a 100-ounce contract, one point (0.01) is worth 1 dollar per lot.

• Swap long of −45 points on a 2-digit gold quote: 1 point = 0.01 × 100 oz = 1 dollar, so −45 points is −45 dollars per lot per night.

That example shows why the unit matters: a "small" number in points can be a large number in dollars. If your broker quotes gold with 3 digits, one point is 0.001 × 100 = 0.10 dollars, and the same −45 points is −4.50 dollars.

If the swap type is money, the figure is already in your account currency per lot.

If it is interest, it is an annual percentage applied to the position value; divide by 360 or 365 (the specification or broker will say which) for the daily charge.

See what you actually paid

• MT5 Toolbox → Trade tab shows a Swap column for open positions; History tab shows swap per closed position.
• MT4 Terminal → Trade and Account History show a Swap column.

Compare the actual swap with what you calculated. If they differ, ask your broker which convention it uses.

Make it part of the plan

Add expected swap to the cost side of any trade you plan to hold overnight:

• Nights held × swap per lot × lots, counting the triple-swap day as three.
• See the full cost of trading one lot of gold.

Questions traders ask

Why is the gold swap so high? It reflects US interest rates plus the broker's markup. When rates are high, holding a leveraged long costs more.

Why did I receive a swap on a short? Some brokers pay a small positive swap on gold shorts when rates allow. Many don't.

Do swaps change? Yes, brokers update them as interest rates and their own funding costs change. Check before long holds.