FX Spread Betting Answers:
1. How to Spread Bet on Sterling / Dollar?
At the time of writing the Sterling / Dollar (December) market is $1.6926 - $1.6934 with Financial Spreads.
As with many markets, you can trade the future price of FX pairs like Sterling / Dollar, Dollar / Yen , Sterling / Euro etc to rise or fall.
With this Sterling / Dollar (December) market, which closes on 11-Dec-09, you can financial spread bet on:
Sterling / Dollar to finish higher than $1.6934 on the closing date, or
Sterling / Dollar to finish lower than $1.6926 on the closing date.
Note that for the Sterling / Dollar market, you trade in £X per point, where a point is $0.0001 of the Sterling / Dollar rate. eg if your stake was £5 per point and the Sterling / Dollar cross rate moves $0.0014 then that would be a £70 difference to your profit/loss. ($0.0014 / $0.0001) x £5 per point = 14 points x £5 per point = £70.
Sterling / Dollar Trading Example
So looking at an example, let's say you check the current price on a spread betting service and it has live prices that give a quote of $1.6926 - $1.6934. If you have done your research and think that the Sterling / Dollar rate appears as though it will finisher higher than $1.6934 on 11-Dec-09.
- You think the Sterling / Dollar rate should go up, ie you think the pound will perform better than the dollar
- So you go long (buy) at $1.6934 and you stake £2 per point
- The Sterling / Dollar currency pair increases. You decide to let your bet run to the expiry date
- The Sterling / Dollar market closes at $1.6970
- You bought the spread at $1.6934
- P&L = ((closing level - opening price) / per point) x stake
- P&L = (($1.6970 - $1.6934) / $0.0001) x £2 per point stake
- P&L = ($0.0036 / $0.0001) x £2 per point
- P&L = 36 points x £2 per point
- P&L = £72
Of course, if the trade did not work as expected and had the Sterling / Dollar value gone down, with the market closing at $1.6900, you would have lost.
- You bought the market at $1.6934
- P&L = ((closing level - opening level) / per point) x stake
- P&L = (($1.6900 - $1.6934) / $0.0001) x £2 per point stake
- P&L = (-$0.0034 / $0.0001) x £2 per point
- P&L = 34 points x £2 per point
- P&L = -£68
(Prices quoted as of 04-Aug-09).
2. Where can I Financial Spread Bet on Sterling / Dollar?
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| Dollar/Yen Daily |
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| Dollar/Yen Future |
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| Euro/Dollar Daily |
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| Euro/Dollar Future |
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| Euro/Sterling Daily |
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| Euro/Sterling Future |
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| Sterling/Dollar Daily |
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| Sterling/Dollar Future |
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| Sterling/Euro Daily |
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| Sterling/Euro Future |
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| Other Forex |
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The above spread betting markets may also be available with other companies. Also see Comparison Table Notes.
3. Where can I find real-time fx spread betting prices for Sterling / 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 Sterling / Dollar.
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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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4. Where can I find forex candlestick charts for Sterling / 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:
Advert
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 Betting on Sterling / Dollar" last update by R Thomas, 04-Mar-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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