FX Spread Betting Answers:
1. How to Spread Bet on Australian Dollar / US Dollar?
At the time of writing the AUD / USD (December) market is US$0.8331 - US$0.8339 with Financial Spreads.
As with many markets, you can spread bet on the future value of FX markets. In other words, spread traders can financial spread bet on FX prices rising or falling,
With the AUD / USD (December) market, which closes on 11-Dec-09, you can spread bet on:
AUD / USD to finish higher than US$0.8339 on 11-Dec-09, or
AUD / USD to finish lower than US$0.8331 on 11-Dec-09.
It should be noted that with the AUD / USD market you trade in £X per point, where a point is US$0.0001 of AUD / USD movement. eg if your stake was £4 per point and the AUD / USD moves US$0.0008 then that would be an £32 difference to your profit/loss.
AUD / USD Spread Betting Example
Eg, let's say you see the live price on a spread betting website and it shows a spread of US$0.8331 - US$0.8339 and you feel that the AUD / USD currency pair will close above US$0.8339 on 11-Dec-09.
- You have done your analysis and think that the AUD / USD pair should go up
- Therefore, you go long (buy) at US$0.8339 and you risk £2 per point
- The value of the market increases. You let the spread bet run until it expires
- The market closes at US$0.8380
- Price you bought the market at US$0.8339
- P&L = ((closing level - opening level) / per point) x stake
- P&L = ((US$0.8380 - US$0.8339) / US$0.0001) x £2 per point stake
- P&L = (US$0.0041 / US$0.0001) x £2 per point
- P&L = 41 points x £2 per point
- P&L = £82
Of course, if this forex spread bet did not work out as you expected, with the AUD / USD pair going against you and the market closing at a lower value of US$0.8300, you would have made a loss on this trade.
- You bought the spread at US$0.8339
- P&L = ((closing price - opening level) / per point) x stake
- P&L = ((US$0.8300 - US$0.8339) / US$0.0001) x £2 per point stake
- P&L = (-US$0.0039 / US$0.0001) x £2 per point stake
- P&L = -39 points x £2 per point
- P&L = -£78
(Prices quoted as of 24-Aug-09).
2. Where can I Financial Spread Bet on Australian Dollar / US Dollar?
You can spread bet forex markets like Australian Dollar / US Dollar with the following companies:
Spread betting markets may also be available with other companies.
3. Where can I find real-time fx spread betting prices for Australian Dollar / US Dollar?
All of the above companies provide access to real-time forex prices to their account holders.
Note that you may need to log into your account in order to see live spread betting prices for Australian Dollar / US Dollar.
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4. Where can I find forex candlestick charts for Australian Dollar / US Dollar?
A number of the spread betting companies offer a variety of fx charts, including candlestick charts. Note that you may need to open an account with the respective company in order to see the charts and/or have full access to real-time charts that you can manipulate. Spread betting accounts are subject to status, terms and conditions.
Candlestick charts are currently available with:
Charts may also be available from other spread betting companies.
Example forex charts from Financial Spreads:
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www.FinancialSpreads.com Narrow Spreads, Free Charts and Live Prices.
No Fees, No Commissions, Spread Bet on Shares, Indices, Forex, Commodities Apply Now.
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"Spread Bets and Australian Dollar / US Dollar" last update by R Thomas, 24-Aug-2010
Warning: Financial spread betting carries a high level of risk. You can lose more than your initial investment or stake. Financial spread betting may not be suitable for all investors. Only trade with money that you can afford to lose. Make sure you fully understand the risk involved. If necessary, seek independent financial advice.
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