murat

I don't think the formula for calculating the overnight fee is correct, as in the example given, it ridiculous to pay an overnight fee of $8.5 for a long position of $10 on the GBPUSD pair with a swap bid/offer of 0.22 / -0.85. And it doesn't add any value to continue with the example with a different currency pair, as prevents us to make sense of the numbers by working backwards. I came to IG from eToro because they were scamming people by charging arbitrary overnight fees. I am disappointed with IG that there is no clear quotation of the overnight fee for any open position. It would only take few lines of scripting to add another column to each open position, taking away the anguish of calculating it when deciding to keep or close the positions of volatile currency pairs.