I hold positions through rollover a few times a week and I keep getting tripped up by how the swap shows up alongside currency conversion. I’m comparing avatrade and etoro and I want to turn this into something I can measure instead of guess.
Plan is simple: run tiny live tests on both, long and short, hold over Wednesday once, and log the swap in the account currency. Then check the statement for any conversion lines and the rate used. I also net it against any cashback to see the true overnight hit in pips.
If you have real numbers from recent months, can you share symbol, side, base currency, and whether a deposit or rollover conversion changed the total? For example EURUSD or XAUUSD, long or short, with your base currency on each broker. Any quirks I should watch for?
Ava swap lower on majors for me.
eToro conversion bites more than swap sometimes.
Test each side with the smallest live size. Hold across rollover once and on Wednesday. Export the statement. Record swap in account currency. Compare the broker rate on any conversion line to a mid rate at that time to estimate markup. Convert the result to pips per lot so it is easy to compare. Subtract any cashback posted for that date. Repeat with different base currencies if you can. After a few cycles you will see which setup costs less for your symbols.
My eToro EUR deposit got converted to USD. The fee plus spread made overnights feel heavier than on Ava.
Kept a EURUSD short three nights on both. On Ava with EUR base, the swap was cleaner to read. On eToro with USD base, the swap was fine but the initial deposit conversion hurt.
If you care about swaps, match base to the quote you mostly settle in and track Wednesday triple.
Gold showed the biggest gap for me. Not the swap itself, but the conversion around it after I funded in GBP.
I fixed it by funding in USD for metals and left EUR for FX. It cut the noise in my logs.