“With regard to the comment in today's [Ed yesterday's] Fullermoney re Forex is Dead in Australia - We don't think the carry trade is quite dead in OZ, as an ECN broker, Pepperstone, Australia's Largest FX Broker will route your trade onto the open interbank market from our platform. Rollover is calculated at the end of the trading day in New York, at 5pm, which equates to 00.00 GMT +3 on Pepperstone's platform. If you are placing a carry trade by going long AUDJPY, your trade will accrue a rollover (daily interest) at the start of our platforms trading day 00.00. At current swap levels you will receive 0.77 pips per day for holding this trade, which equates to 281.05 pips per year or a 2.81% annualised return on your trade size. There are no additional charges for keeping the position open long term and the accrued rollover can be withdrawn from the account even when the trade is still open.

“Note: rollover/swap rate is subject to change. The AUDJPY long trade average daily swap rate for the last 5 months is 0.716 pips. For more information or to open an account log on to http://www.pepperstone.com

“I hope this helps the Collective.”

Eoin Treacy's view Thank you for this detailed response which I'm sure will be appreciated by the Collective.