At 5 p.m. in New York is considered the beginning and end of the forex trading day. Any positions that are open at 5 p.m. (ET) sharp are considered to be held overnight, and are subject to rollover. A position opened at 5:01 p.m. (ET) is not subject to rollover until the next day, while a position opened at 4:59 p.m. (ET) is subject to rollover at 5 p.m. (ET)
When you buy the EUR / USD, you are buying the euro and selling the US dollar to pay for it. If the euro interest rate is 4.00% and the rate of the US dollar is 2.25%, you are buying the currency that has the highest interest rate, which causes you to gain in Rollover 1.75% annually. If you sell the EUR / USD, you are selling the currency with the higher interest rate and are paying a Rollover of approximately 1.75% annually, since you'd be paying the euro interest rate and earning the interest rate of the dollar.
The Islamic Accounts that BelforFx offers have no Rollovers; for all other accounts our Trading platforms automatically calculate and report all Rollovers.