CAD/JPY Spread Betting
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Welcome to Clean Financial's guide to CAD/JPY spread betting.
Quick and simple answers to common CAD/JPY questions:
Q) Where can I Spread Bet on CAD/JPY?
Q) Where can I Trade for Free on CAD/JPY?
Q) How to Spread Bet on CAD/JPY?
Q) Where can I find Free Live Prices on CAD/JPY?
Q) Where can I find Free CAD/JPY Charts?
Q) Where can I find free Forex Trading News?
Q) Where can I find Narrow Forex Spreads?
Q) Where can I Trade Fixed-Odds Forex?
Advert:
CAD/JPY Spread Betting, sponsored by
FinancialSpreads.com.
You can spread bet on CAD/JPY with
Financial Spreads.
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Spread Betting Companies - Forex Spreads Comparison
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| GBP / USD Daily - Spread Size |
2 |
2 |
2 |
2 |
3 |
0.8 |
2 |
2 |
| GBP / USD Daily - Min Stake |
£1 |
£0.50 |
£0.50 |
£1 |
£0.5 |
£1 |
£1 |
£1 |
| GBP / USD Future - Spread Size |
8 |
8 |
12 |
8 |
8 |
- |
8 |
8 |
| GBP / USD Future - Min Stake |
£1 |
$0.60 |
£1 |
£1 |
£1 |
- |
£1 |
£1 |
| EUR / GBP Daily - Spread Size |
1 |
2 |
2 |
1 |
1 |
1 |
1 |
1 |
| EUR / GBP Daily - Min Stake |
£1 |
£0.50 |
£0.50 |
£1 |
£0.5 |
£1 |
£1 |
£1 |
| EUR / GBP Future - Spread Size |
6 |
8 |
10 |
6 |
6 |
- |
6 |
6 |
| EUR / GBP Future - Min Stake |
£1 |
$0.60 |
£1 |
£1 |
£0.5 |
- |
£1 |
£1 |
| EUR / USD Daily - Spread Size |
1 |
1 |
1 |
1 |
2 |
0.8 |
1 |
1 |
| EUR / USD Daily - Min Stake |
£1 |
£0.50 |
£0.50 |
£1 |
£0.5 |
£1 |
£1 |
£1 |
| EUR / USD Future - Spread Size |
8 |
8 |
12 |
8 |
8 |
3 |
8 |
8 |
| EUR / USD Future - Min Stake |
£1 |
$0.60 |
£1 |
£1 |
£1 |
£1 |
£1 |
£1 |
| USD / JPY Daily - Spread Size |
1 |
2 |
1 |
1 |
2 |
0.8 |
1 |
1 |
| USD / JPY Daily - Min Stake |
£1 |
£0.50 |
£0.50 |
£1 |
£0.5 |
£1 |
£1 |
£1 |
| USD / JPY Future - Spread Size |
8 |
8 |
12 |
8 |
10 |
- |
8 |
8 |
| USD / JPY Future - Min Stake |
£1 |
¥100 |
£1 |
£1 |
£0.5 |
- |
£1 |
£1 |
Comparison Notes
Where can I Spread Bet on CAD/JPY?
You can currently spread bet on CAD/JPY and other forex markets at:
Where can I Trade CAD/JPY for Free?
It depends upon what you mean by free. If you're looking for a free Demo Account where you can practice spread trading, see below.
Tax Free. If you are looking for a free spread betting platform then don't forget that in the UK spread betting is tax free*
You can also spread bet on CAD/JPY markets and other forex markets commission free and with no brokers fees at:
Free Demo Account
If you're looking for a free Practice Account / Test Account where you can trial spread betting, including forex markets like CAD/JPY, then you can you can always try:
Each of the above currently offers a free Demo Account.
How to Spread Bet on Forex - CAD/JPY Rolling Daily
As with most key markets, it is possible to place a spread bet on currency pairs, like CAD/JPY, to rise or fall.
If you were to look at the Inter Trader trading site, they are currently showing the CAD/JPY Rolling Daily market at ¥83.589 - ¥83.649. Therefore, you can spread trade on the CAD/JPY currency rate:
- Increasing higher than ¥83.649, or
- Decreasing lower than ¥83.589
When placing a spread bet on CAD/JPY you trade in £x per point where a point is ¥0.010 of the pairs movement. Therefore, if you decided to risk £6 per point and CAD/JPY moves ¥0.050 then that would change your P&L by £30. £6 per point x ¥0.050 = £6 per point x 5.0 points = £30.
Rolling Daily Foreign Exchange Markets
Note that this is a Rolling Daily Market and therefore it does not have a settlement date. If you decide to leave your trade open at the end of the day, it just rolls over to the next day.
If your position does roll over and you are speculating on the market to:
- Go up - then you will pay a small overnight financing fee, or
- Go down - then a small payment will usually be credited to your account
For a fully worked example see Rolling Daily Spread Betting.
CAD/JPY Rolling Daily Spread Trading Example
If we think about the above spread of ¥83.589 - ¥83.649 and make the assumptions:
- you have done your analysis of the FX markets, and
- you feel that the CAD/JPY rate will go above ¥83.649
then you may go long of the market at ¥83.649 and invest, for the sake of argument, £3 per point.
Therefore, you win £3 for every point (¥0.010) that the CAD/JPY FX rate increases higher than ¥83.649. Of course, such a bet also means that you will make a loss of £3 for every point that the CAD/JPY market goes below ¥83.649.
Looking at this from another angle, if you buy a spread bet then your profits (or losses) are calculated by taking the difference between the settlement price of the market and the price you bought the market at. You then multiply that difference in price by your stake.
If after a few days the FX pair rose then you might consider closing your spread bet in order to guarantee your profit.
So if the market moved up then the spread, set by the spread trading firm, might move up to ¥84.005 - ¥84.065. In order to close your position you would sell at ¥84.005. So, with the same £3 stake your profit would come to:
Profits (or losses) = (Final Level - Initial Level) x stake
Profits (or losses) = (¥84.005 - ¥83.649) x £3 per point stake
Profits (or losses) = ¥0.356 x £3 per point stake
Profits (or losses) = 35.6 points x £3 per point stake
Profits (or losses) = £106.80 profit
Speculating on currencies, by spread betting or otherwise, can work against you. In this case, you had bet that the forex pair would go up. However, it might go down.
If the CAD/JPY market fell then you could choose to close your trade to limit your losses.
So if the spread pulled back to ¥83.252 - ¥83.312 then you would close your position by selling at ¥83.252. As a result, your loss would be:
Profits (or losses) = (Final Level - Initial Level) x stake
Profits (or losses) = (¥83.252 - ¥83.649) x £3 per point stake
Profits (or losses) = ¥ 0.397 x £3 per point stake
Profits (or losses) = -39.7 points x £3 per point stake
Profits (or losses) = -£119.10 loss
Note - CAD/JPY Rolling Daily currency market correct as of 24-May-11.
Where can I Find Free Live Prices on CAD/JPY?
If you want to access quick live market information then you could do worse than opening an account with a firm like Financial Spreads.
Also, you don't have to trade with them, if you just open an account (which is free to do) then their data is free. The catch? You'll get the odd email or letter from them. In the example below you can also see that their free charts are also useful.
There are also live prices available at:
Where can I Find Free CAD/JPY Charts?
As mentioned above, you can get free charts with spread betting companies like Financial Spreads.
You can alter the charts to see market data by the minute, by the hour, by the week etc, plus many other settings to help you analyse the charts.
As you can see, the charts show how the market's are not perfect and how you can expect the prices to "gap".
FinancialSpreads.com also have another pretty handy tool in their free Demo account (mentioned above). You can open a Demo account and place demo trades whilst you practice with no risk or cost attached.
Where can I Trade Fixed-Odds CAD/JPY?
You can trade a range of Fixed-Odds foreign exchange markets like EUR/USD, GBP/USD, EUR/GBP, EUR/JPY, USD/CZK, GBP/NOK etc with BetOnMarkets.
Depending upon the market there are a number of trades available including: Flash Up/Down, 10 minute Intraday Doubles, 60 minute Intraday Doubles, Daily Doubles, Expiry/Boundary contracts.
For more on Fixed-Odds trading see: Financial Fixed Odds.
Advert:
CAD/JPY Spread Betting, sponsored by
FinancialSpreads.com.
You can spread bet on CAD/JPY with
Financial Spreads.
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Risk Warning: Spread betting carries a high level of risk to your capital. You may lose more than your initial investment. It 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.
'CAD/JPY Spread Betting' by DB, updated 11-May-12
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