Rollover time
Rollover time is the daily hour when forex brokers process open positions, applying or crediting swap fees for carrying trades into the next trading day.
Most forex brokers typically use 5 PM New York Time (EST/EDT) as their rollover time, marking the end of one trading day and the start of the next for accounting purposes. At this precise moment, any open positions are "rolled over." This process involves the calculation and application of a swap fee or credit based on the interest rate differentials between the two currencies in a pair. This applies to all positions held past this specific hour.
For retail traders, understanding rollover time is crucial for managing overnight holding costs. Holding a long EUR/USD position past 5 PM NY time might incur a negative swap fee, effectively reducing potential profits or increasing losses. Conversely, some positions might yield a positive swap. Traders must factor these charges, often expressed in pips or currency units, into their trading strategy, especially for longer-term trades, to avoid unexpected expenses that can erode account equity.
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