The USDNOK spread betting guide:
Where Can I Spread Bet on USDNOK?
You can put trades on USDNOK with the following spread betting firms:
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| Dollar/Yen Daily |
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| Euro/Dollar Daily |
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| Euro/Sterling Daily |
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| Sterling/Dollar Daily |
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| Sterling/Euro Daily |
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| Other Forex |
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Remember – spread betting is high risk, your losses can exceed your deposits.
Live USDNOK Chart
Live USDNOK Chart
Where Can I Get Live Spread Betting Prices and Charts for USDNOK?
The chart above offers a handy look at how the market is behaving.Of course, for investors that are financial spread betting on USDNOK, the above providers offer real-time prices and charts with more technical analysis features.
Example spread betting chart from FinancialSpreads:
USDNOK Spread Betting Example
This means you could speculate on USDNOK to go higher than kr 6.19962 or to go lower than kr 6.19462.
If you are spread betting, you speculate on every unit the market rises or falls. In this case, with the USDNOK market a unit is kr 0.00010 of the pair’s price movement.
With this example, let’s say you choose to bet £2 for every kr 0.00010 USDNOK goes up or down.
Spread Betting on the Market to Go Up
If you were to buy USDNOK at kr 6.19962 and the pair rose then you might see the price move to kr 6.20706 – kr 6.21206. If that were to happen, you could close your trade by selling at kr 6.20706.Your Profits (or Losses) = (final price of the market – initial price of the market) x stake per kr 0.00010
Your Profits (or Losses) = (kr 6.20706 – kr 6.19962) x £2 per kr 0.00010 stake
Your Profits (or Losses) = kr 0.00744 x £2 per kr 0.00010
Your Profits (or Losses) = £148.80 profit
Markets can also fall, if the pair were to fall to kr 6.19156 – kr 6.19656, you may want to close your position to limit your losses. If this were the case, you would make a sell trade at kr 6.19156.
You would close your bet with the same £2 per kr 0.00010 stake:
Your Profits (or Losses) = (final price of the market – initial price of the market) x stake per kr 0.00010
Your Profits (or Losses) = (kr 6.19156 – kr 6.19962) x £2 per kr 0.00010 stake
Your Profits (or Losses) = -kr 0.00806 x £2 per kr 0.00010
Your Profits (or Losses) = -£161.20 loss
Spread Betting on the Market to Go Down
One of the advantages of spread betting is that investors can short the markets, i.e. speculate that the markets will fall.The original market was kr 6.19462 – kr 6.19962.
If you shorted USDNOK at kr 6.19462 and the pair fell then the quote could become kr 6.18144 – kr 6.18644. Therefore, you could close your bet at kr 6.18644.
Your Profits (or Losses) = (initial price of the market – final price of the market) x stake per kr 0.00010
Your Profits (or Losses) = (kr 6.19462 – kr 6.18644) x £2 per kr 0.00010 stake
Your Profits (or Losses) = kr 0.0082 x £2 per kr 0.00010
Your Profits (or Losses) = £163.60 profit
The markets can of course rise, if the pair increased to, as an example, kr 6.19848 – kr 6.20348, you might want to close your position to restrict your losses. If that happened, you would buy the market at kr 6.20348.
So, with the same £2 per kr 0.00010 stake:
Your Profits (or Losses) = (initial price of the market – final price of the market) x stake per kr 0.00010
Your Profits (or Losses) = (kr 6.19462 – kr 6.20348) x £2 per kr 0.00010 stake
Your Profits (or Losses) = -kr 0.00886 x £2 per kr 0.00010
Your Profits (or Losses) = -£177.20 loss
USDNOK Rolling Daily spread betting prices quoted as of 25-Jul-14.
Please note that this is a rolling daily spread bet. This type of trade does not have a fixed expiry date and instead rolls over to the next trading day automatically. If it does rollover, then you may receive a small credit or incur a small financing cost. For more information, please see rolling daily spread betting markets.
USDNOK Practice Accounts
The following companies also offer practice accounts, i.e. accounts you can use to have a go at spread betting on USDNOK without risking your funds.
Spread betting carries a high level of risk. You can lose more than your initial investment or stake. 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.