CAD/JPY Spread Betting
Where Can I Spread Bet on CAD/JPY? |
Currently, investors are able to financial spread bet without paying any brokers' fees on CAD/JPY by trading with these firms:
Advert:
CAD/JPY Spread Betting, sponsored by FinancialSpreads.com.
You can spread bet on CAD/JPY with
Financial Spreads.
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Where Can I Spread Bet on CAD/JPY for Free? |
Trading the financial markets involves a degree of risk. However, if you would like to open a completely free Practice Account, that allows you to try out spread betting on a broad range of markets, see below.
When thinking about which trading option might work for you, also remember that financial spread betting in the UK is currently free of stamp duty, income tax and capital gains tax*.
If you want to try a low cost spread trading website then you should keep in mind that investors are able to speculate on CAD/JPY with no brokers' fees and no commissions with firms like:
If you're interested in a (free) Demo Account which lets you try out financial spread betting on markets such as CAD/JPY, then you could always take a look at:
Each of the spread betting companies listed above provide a free Practice Account which lets investors check charts, gain experience with trading orders and test new ideas.
Where Can I Find Live Spread Betting Prices and Charts for CAD/JPY? |
The live CFD trading chart below offers readers a valuable guide to the CAD/JPY FX market.
The Plus500 chart above normally shows the CAD/JPY futures price (not the daily market).
To review spread trading charts and live prices for CAD/JPY, one option is to use a spread betting account.
In addition, a spreads account would let you speculate on shorter-term daily prices. Note that all such accounts are normally dependent on credit, suitability and status checks.
Should your application be accepted then you will be able to log on and view the live charts and the current pricing. Usually, these will be free. What's the catch? You're likely to receive the occasional call and/or email from your chosen spread betting broker.
If you decide to trade then, before you start, be aware that spread betting and CFDs carry a high level of risk to your funds and can result in you losing more than your initial investment.
Advanced Charting Packages for CAD/JPY |
Despite the fact that the charts tend to vary from provider to provider, to aid your analysis, most charts usually have handy features and tools, including:
- Many different time intervals such as 3 minutes, 1 hour, 2 hours etc.
- A variety of display styles such as line and candlestick charts
- Tools for adding features such as trendlines, Fibonacci fans, time zones and arcs
- Technical indicators and chart overlays such as Bollinger Bands, Momentum Percentage, True Strength Index (TSI) etc.
The charts provided by FinancialSpreads also include advanced features:
- BackTesting and Analysis functions
- Custom alerts when the markets hit a certain level
Example FinancialSpreads.com FX chart
The brokers listed below give their account holders live trading charts/prices:
How to Spread Bet on CAD/JPY? |
As with many global financial markets, an investor can place a spread bet on FX rates, like CAD/JPY, to go up or down.
Looking at a financial spread betting website like InterTrader, you can see that they are offering the CAD/JPY Rolling Daily market at ¥80.001 - ¥80.051. This means an investor could put a spread bet on the CAD/JPY rate:
 Rising above ¥80.051, or
 Falling below ¥80.001
Whilst spread betting on CAD/JPY you trade in £x per point where a point is ¥0.010 of the pairs movement. Therefore, if your stake was £5 per point and CAD/JPY moves 30.0 points then that would be a difference to your profit/loss of £150. £5 per point x ¥0.300 = £5 per point x 30.0 points = £150.
Rolling Daily Forex Markets
You should note that this is a 'Rolling Daily Market', therefore there is no preset closing date for this market. If you leave your position open at the end of the day, it will stay open and roll over into the next day.
If a forex trade is rolled over then you will be charged a small overnight financing fee. If you would like a fully worked example then see Rolling Daily Spread Betting.
CAD/JPY Rolling Daily - Foreign Exchange Spread Betting Example |
If we consider the above spread of ¥80.001 - ¥80.051 and assume:
- You have analysed the FX markets, and
- Your research suggests that the CAD/JPY rate will move above ¥80.051
Then you might decide that you are going to buy at ¥80.051 and risk £4 per point.
This means that you make a profit of £4 for every point (¥0.010) that the CAD/JPY pair increases higher than ¥80.051. Nevertheless, it also means that you will make a loss of £4 for every point that the CAD/JPY market goes lower than ¥80.051.
Looked at another way, should you ‘Buy’ a spread bet then your profit/loss is worked out by taking the difference between the closing price of the market and the initial price you bought the market at. You then multiply that difference in price by your stake.
With this in mind, if after a few sessions the currency rate started to increase then you might want to close your trade to secure your profit.
Taking this a step further, if the market did go up then the spread, set by the spread betting company, could change to ¥80.331 - ¥80.381. To close your trade you would sell at ¥80.331. As a result, with the same £4 stake your profit would be:
P&L = (Final Level - Initial Level) x stake
P&L = (¥80.331 - ¥80.051) x £4 per point stake
P&L = ¥0.280 x £4 per point stake
P&L = 28.0 points x £4 per point stake
P&L = £112.00 profit
Speculating on currencies, whether by spread trading or otherwise, is not always easy. In this case, you wanted the forex pair to go up. However, the currency rate can also fall.
If the CAD/JPY market dropped then you could close your trade in order to limit your losses.
Should the spread fall back to ¥79.811 - ¥79.861 then you would settle your position by selling at ¥79.811. That would mean you would lose:
P&L = (Final Level - Initial Level) x stake
P&L = (¥79.811 - ¥80.051) x £4 per point stake
P&L = -¥0.240 x £4 per point stake
P&L = -24.0 points x £4 per point stake
P&L = -£96.00 loss
Note - CAD/JPY Rolling Daily spread accurate as of 11-Sep-12.
Advert:
CAD/JPY Spread Betting, sponsored by FinancialSpreads.com.
You can spread bet on CAD/JPY 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.
'CAD/JPY Spread Betting' by DB, updated 16-May-13
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