If you open a position before your broker’s “cut-off time” (usually 5:00 pm EST), then a daily interest rate rollover fee will be incurred in your account, and you will either receive interest or pay interest , Depending on the margin and position status you have established in the market.
Overnight interest during the foreign exchange transaction (rollover fee)-Yuhui International

If you do not intend to earn interest or pay interest, you only need to choose to close the position before 5:00 PM EST.

Since every currency pair transaction involves borrowing one currency and buying another currency, interest rate rollover fees are also part of the foreign exchange transaction. If you borrow a certain currency, then you will have to pay interest, if you buy a certain currency, you will also receive interest in that currency.

If the interest rate of the currency you buy is higher than the currency you borrowed, the spread will be positive, for example, USD / JPY, then you will get a spread profit.

Conversely, if the spread is negative, then you will pay interest expenses due to the spread.

It is recommended to ask your broker or dealer for specific details about the rollover interest.

At the same time, it should be noted that some retail brokers will adjust their rollover rates based on different factors, such as leverage levels and inter-bank lending rates. Be sure to check with your broker for more information about rollover rates and borrowing / lending procedures.