Daily Cut-Off

What Is the Daily Cut-Off?

The daily cut-off (also called the end-of-day or EOD) is the specific time when the forex trading day officially ends and a new one begins. For most brokers, this is 5:00 PM New York time (22:00 GMT, 17:00 EST). This is also when Rollover occurs and Swap charges or credits are applied to open positions.

Why the Cut-Off Matters

If you hold a position through the daily cut-off, you will receive or pay a swap. If you close before the cut-off, no swap is applied for that day. This matters for short-term traders who want to avoid overnight costs and for carry traders who specifically seek positive swaps. The cut-off also determines when daily candles open and close on your charts.

Wednesday Triple Swap

Because forex settles on a T+2 basis (two business days), positions held through Wednesday's cut-off incur three days of swap (Wednesday, Saturday, and Sunday). This is called triple Rollover or triple swap. Some brokers apply the triple charge on Fridays instead. Check your broker's swap schedule to know exactly when multi-day charges apply. Our Best Time to Trade Forex covers how the trading day structure works across time zones.