Bank of Ireland Spread Betting
Where Can I Spread Bet on Bank of Ireland? |
At the moment, you can spread bet without paying any commissions on Bank of Ireland through an account with any of these spread betting providers:
Advert:
Bank of Ireland Spread Betting, sponsored by FinancialSpreads.com.
You can spread bet on Bank of Ireland with
Financial Spreads.
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Where Can I Spread Bet on Bank of Ireland for Free? |
Investing in the markets always includes an element of risk. Nevertheless, if you would like to open a Test Account (free), where you can access professional level charts and try out financial spread betting, see below.
When thinking about which investment option is right for you, don't forget that, in the UK, spread betting is currently tax free*, i.e. it is exempt from stamp duty, income tax and capital gains tax.
If you want to try a free spread trading website, you should note that investors are able to take a position on Bank of Ireland without brokers' fees or commissions through firms such as:
If you're interested in a Practice Account / Test Account to try online spread betting, and speculating on markets like the DAX 30, USD/JPY, GBP/USD and Bank of Ireland, then you could have a closer look at:
Each of these spread betting firms offer a free Practice Account that allows users to try out trading theories, check charts and gain experience with a range of orders.
How to Spread Bet on Bank of Ireland? |
If you are going to speculate on European companies such as Bank of Ireland then one possibility could be to place a spread bet on the Bank of Ireland share price.
Looking at a spread trading platform like InterTrader, we can see they are currently valuing the Bank of Ireland Rolling Daily market at €0.10 - €0.13. This means an investor could put a spread bet on the Bank of Ireland share price:
 Increasing above €0.13, or
 Decreasing below €0.10
Whilst spread betting on Irish shares you trade in £x per cent. Therefore, if you staked £4 per cent and the Bank of Ireland share price moves €0.34 then that would make a difference to your profits (or losses) of £136. £4 per cent x €0.34 = £136.
Note that you are also able to trade this market in Dollars or Euros, e.g. $x per cent.
Rolling Daily Shares Markets
One important thing to note is that this is a Rolling Daily Market and so in contrast with futures markets, there is no settlement date. If you leave your position open at the end of the day, it just rolls over into the next day.
If you allow your bet to roll over and are spread betting on the market to:
Go up - then you are charged a small overnight financing fee, or
Go down - then you'll normally receive a small credit to your account
For a fully worked example see Rolling Daily Spread Betting.
Bank of Ireland Rolling Daily - Irish Equities Trading Example |
So, if you consider the above spread of €0.10 - €0.13 and make the assumptions:
- You have done your analysis of the stock market, and
- Your research leads you to think the Bank of Ireland share price will go higher than €0.13
Then you may buy at €0.13 and risk, let’s say, £25 per cent.
Therefore, you make a profit of £25 for every cent that the Bank of Ireland shares push above €0.13. However, it also means that you will make a loss of £25 for every cent that the Bank of Ireland market decreases lower than €0.13.
Put another way, should you ‘Buy’ a spread bet then your P&L is worked out by taking the difference between the final price of the market and the initial price you bought the spread at. You then multiply that difference in price by the stake.
As a result, if the share price started to increase then you might want to close your spread bet to secure your profit.
So if the market increased then the spread, set by the spreads firm, might be adjusted to €0.19 - €0.22. You would close your spread bet by selling at €0.19. So, with the same £25 stake you would make:
Profit / loss = (Closing Value - Initial Value) x stake
Profit / loss = (€0.19 - €0.13) x £25 per cent stake
Profit / loss = €0.06 x £25 per cent stake
Profit / loss = 6c x £25 per cent stake
Profit / loss = £150 profit
Speculating on shares, whether by spread trading or otherwise, can go against you. In the above example, you had bet that the share price would rise. Of course, the share price can also decrease.
If the Bank of Ireland shares dropped then you could close your trade in order to restrict your losses.
Should the market pull back to €0.08 - €0.11 then you would settle your trade by selling at €0.08. As a result, your loss would be:
Profit / loss = (Closing Value - Initial Value) x stake
Profit / loss = (€0.08 - €0.13) x £25 per cent stake
Profit / loss = -€0.05 x £25 per cent stake
Profit / loss = -5c x £25 per cent stake
Profit / loss = -£125 loss
Note: Bank of Ireland Rolling Daily equities market accurate as of 18-Dec-12.
Where Can I Find Live Spread Betting Prices and Charts for Bank of Ireland? |
To analyse live charts/prices for Bank of Ireland, you will normally require a spread betting account. Readers should note that opening any such account is subject to status, suitability and credit checks.
If your application is accepted then, when you log on, you will be able to study the charts and the current prices. These are usually free. So what's the catch? You'll probably receive the occasional letter and/or sales call from your chosen financial spread betting provider.
If you do decide to trade then you should remember that spread trading does involve a high degree of risk to your capital and you may lose more than your initial deposit.
Although charting software/packages differ across the industry, to help you with your trading, they usually have useful tools that include:
- A variety of intervals - 1 minute, 1 hour, 2 hours etc
- A variety of chart views - line charts and candle charts
- Drawing tools and options - Trendlines, Fibonacci Arcs, Fans and Time Zones
Charts from FinancialSpreads also include more advanced features:
- BackTesting, Customisable Indicators and Optimisation tools
- Key chart overlays - Bollinger Bands, Exponential Moving Average, Chande Kroll Stop etc
- A wide selection of indicator charts - True Strength Index, Standard Deviation, Price and Volume Trend etc
- Custom email alerts for when a market reaches a given price
Sample equities chart
The financial spread betting firms in the following list give account holders real-time trading prices/charts:
Advert:
Bank of Ireland Spread Betting, sponsored by FinancialSpreads.com.
You can spread bet on Bank of Ireland with
Financial Spreads.
|
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.
'Bank of Ireland Spread Betting' by DB, updated 11-Jan-13
For related pages also see:
Spread Betting on Irish Shares, updated 26-Apr-13
Spread Betting on Irish Shares. Where to find Irish Shares real-time prices and charts, how to spread bet on Irish Shares shares and the most popular spread betting questions on Irish Shares...read article: Spread Betting on Irish Shares.
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The complete C&C Group spread betting guide with real-time C&C prices and charts. Also, where to spread bet on Irish shares like C&C tax-free* and commission-free, how to spread bet on the C&C share price and...read article: C&C Group Spread Betting.
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Kerry Group Spread Betting, updated 29-Apr-13
The complete Kerry Group spread betting guide with real-time Kerry prices and charts. Also, where to spread bet on Irish shares like Kerry tax-free* and commission-free, how to spread bet on the Kerry share price and...read article: Kerry Group Spread Betting.
Kingspan Spread Betting, updated 29-Apr-13
The complete Kingspan spread betting guide with real-time Kingspan prices and charts. Also, where to spread bet on Irish shares like Kingspan tax-free* and commission-free, how to spread bet on the Kingspan share price and...read article: Kingspan Spread Betting.
Paddy Power Spread Betting, updated 29-Apr-13
The complete Paddy Power spread betting guide with real-time Paddy Power prices and charts. Also, where to spread bet on Irish shares like Paddy Power tax-free* and commission-free, how to spread bet on the Paddy Power share price and...read article: Paddy Power Spread Betting.
Ryanair Spread Betting, updated 29-Apr-13
The complete Ryanair spread betting guide with real-time Ryanair prices and charts. Also, where to spread bet on Irish shares like Ryanair tax-free* and commission-free, how to spread bet on the Ryanair share price and...read article: Ryanair Spread Betting.
Smurfit Kappa Spread Betting, updated 29-Apr-13
The complete Smurfit Kappa spread betting guide with real-time Smurfit Kappa prices and charts. Also, where to spread bet on Irish shares like Smurfit Kappa tax-free* and commission-free, how to spread bet on the Smurfit Kappa share price and...read article: Smurfit Kappa Spread Betting.
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