AUD/SGD Spread Betting
Where Can I Spread Bet on AUD/SGD? |
You can take a position on AUD/SGD, in addition to a wide array of similar spread betting markets, through providers such as:
Advert:
AUD/SGD Spread Betting, sponsored by FinancialSpreads.com.
You can spread bet on AUD/SGD with
Financial Spreads.
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Where Can I Spread Bet on AUD/SGD for Free? |
Investing always includes a degree of risk. However, if you'd like to try a (free) Demo Account, that allows you to try spread trading and access professional level charts, please see below for more details.
Furthermore, remember that spread betting in the UK is currently exempt from income tax, stamp duty and capital gains tax*.
If you want a free spread trading site then you should note that investors are able to spread bet on AUD/SGD without paying any brokers' fees or commissions with firms like:
If you are looking for a Practice Account / Demo Account that lets users get to grips with online spread betting, and trading markets like EUR/USD, the FTSE 100, USD/JPY and AUD/SGD, then look into:
All of the above spread trading companies offer a free Practice Account that allows users to look at professional charts, try out strategies and practice with a variety of orders.
How to Spread Bet on AUD/SGD? |
As with most key financial markets, it is possible to spread bet on forex pairs, such as AUD/SGD, to go up or down.
Looking at a spread betting platform like Capital Spreads, you can see they are currently valuing the AUD/SGD Rolling Daily market at S$1.28253 - S$1.28333. This means that an investor could put a spread bet on the AUD/SGD rate:
 Rising higher than S$1.28333, or
 Falling lower than S$1.28253
When making a spread bet on AUD/SGD you trade in £x per point where a point is S$0.00010 of the pairs movement. Therefore, if you invest £3 per point and AUD/SGD moves 21.0 points then that would change your bottom line by £63. £3 per point x S$0.00210 = £3 per point x 21.0 points = £63.
Rolling Daily Forex Markets
One important thing to note is that this is a Rolling Daily Market and so there is no preset closing date for this market. If your trade is open at the end of the day, it simply keeps rolling over into the next trading session.
If an FX spread bet is rolled over then you'll normally be charged a small financing fee. To find out more about Rolling Daily Markets read our feature Rolling Daily Spread Betting.
AUD/SGD Rolling Daily - Foreign Exchange Spread Betting Example |
If you think about the spread of S$1.28253 - S$1.28333 and assume:
- You have done your analysis of the currency markets, and
- You feel that the AUD/SGD rate will increase and move above S$1.28333
Then you could decide to go long of the market at S$1.28333 and risk £3 per point.
With such a spread bet you win £3 for every point (S$0.00010) that the AUD/SGD FX pair pushes higher than S$1.28333. Conversely, however, you will lose £3 for every point that the AUD/SGD market falls lower than S$1.28333.
Put another way, should you buy a spread bet then your P&L is found by taking the difference between the final price of the market and the initial price you bought the spread at. You then multiply that price difference by the stake.
Therefore, if after a few sessions the forex rate started to rise you might decide to close your spread bet and therefore lock in your profits.
So if the market moved up then the spread, set by the spreads firm, might be adjusted to S$1.28782 - S$1.28862. You would close your position by selling at S$1.28782. As a result, with the same £3 stake this trade would make you a profit of:
Profit / loss = (Settlement Value - Initial Value) x stake
Profit / loss = (S$1.28782 - S$1.28333) x £3 per point stake
Profit / loss = S$0.00449 x £3 per point stake
Profit / loss = 44.9 points x £3 per point stake
Profit / loss = £134.70 profit
Speculating on currencies, by spread betting or otherwise, is not always easy. In this example, you had bet that the FX pair would rise. Of course, the currency rate might go down.
If the AUD/SGD market dropped then you might decide to settle/close your spread bet to limit your losses.
So if the spread pulled back to S$1.27820 - S$1.27900 then this means you would settle/close your trade by selling at S$1.27820. If so, this would result in a loss of:
Profit / loss = (Settlement Value - Initial Value) x stake
Profit / loss = (S$1.27820 - S$1.28333) x £3 per point stake
Profit / loss = -S$0.00513 x £3 per point stake
Profit / loss = -51.3 points x £3 per point stake
Profit / loss = -£153.90 loss
Note: AUD/SGD Rolling Daily spread betting market accurate as of 11-Sep-12.
Where Can I Find Live Spread Betting Prices and Charts for AUD/SGD? |
If you'd like to review prices/charts for AUD/SGD, you generally need a financial spread betting account. Note that all spreads accounts are subject to suitability, status and credit checks.
If your account application is accepted then you can log on to see the real time prices and charts. These are normally free. What's the catch? You are likely to get the occasional sales email or call from the relevant spread trading broker.
Of course, if you were to spread bet then you should be aware that spread betting does involve a significant level of risk to your trading capital and you can lose more than your initial deposit.
Though the specific charting packages vary from platform to platform, in order to aid your trading, the charts generally have useful tools and features, including:
- A host of different time intervals e.g. 3 minutes, 1 hour, 1 day etc
- A variety of chart types e.g. candle and bar charts
- Drawing tools and options e.g. Fibonacci Fans, Time Zones and Arcs
- Indicators e.g. MACD, RSI etc
Charts provided by FinancialSpreads.com also come with other benefits, including:
- BackTesting tools
- Customised alerts for when your chosen market hits a pre-determined level
Financial Spreads FX market chart
The spread betting brokers in the following list give account holders real time prices and charts:
Advert:
AUD/SGD Spread Betting, sponsored by FinancialSpreads.com.
You can spread bet on AUD/SGD with
Financial Spreads.
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Risk Warning: Spread betting and CFD trading carry a high level of risk to your capital and you may lose more than your initial investment. Spread betting and CFD trading may not be suitable for all investors. Only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved and seek independent financial advice where necessary.
'AUD/SGD Spread Betting' by DB, updated 16-May-13
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