What are swaps/overnight financing fees in CFD trading, and when do they get charged?

In CFD trading, swap (overnight financing) is an interest adjustment applied when a position is held past the daily rollover time, reflecting the interest-rate difference between the two sides of the trade plus the broker’s financing rate. It is typically debited or credited once per day, and many brokers apply a triple charge mid-week to account for the weekend value date. A position can carry a negative swap (a cost) or, less often, a positive swap (a credit), depending on the instrument, direction and prevailing rates. Swap-free accounts may replace it with an administration fee.