Partner Federation Glossary — last updated September 2026
Swap (also called rollover) is the interest charge or credit applied to a forex or CFD position left open overnight, based on the interest rate differential between the two currencies in the pair (or the financing cost, for CFDs). It can be positive or negative depending on the direction of the trade and current rates, and it’s charged automatically by the broker — not something a trader opts into.
Some brokers offer “swap-free” or Islamic accounts, which replace the daily swap charge with a flat administration fee instead, for clients whose religion prohibits paying or receiving interest.
Why It Matters for Partners
For revenue share and spread share partners specifically, swap is worth checking in a program’s terms rather than assuming — some brokers fold a share of swap income into the partner payout, others exclude it entirely. It also means a client who holds positions open for days or weeks (a swing trader) generates meaningfully more swap-related revenue than one who closes everything the same day, which is one more reason trading style matters as much as raw volume when judging how much a referred client is actually worth.