Canadian Dollar - Yen Spread Betting
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Welcome to Clean Financial's guide to Canadian Dollar - Yen spread betting.
Quick and simple answers to common Canadian Dollar - Yen questions:
Q) Where can I Spread Bet on Canadian Dollar - Yen?
Q) Where can I Trade for Free on Canadian Dollar - Yen?
Q) How to Spread Bet on Canadian Dollar - Yen?
Q) Where can I find Free Live Prices on Canadian Dollar - Yen?
Q) Where can I find Free Canadian Dollar - Yen 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:
Canadian Dollar - Yen Spread Betting, sponsored by
FinancialSpreads.com.
You can spread bet on Canadian Dollar - Yen 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 Canadian Dollar - Yen?
You can currently spread bet on Canadian Dollar - Yen and other forex markets at:
Where can I Trade Canadian Dollar - Yen 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 Canadian Dollar - Yen 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 Canadian Dollar - Yen, then you can you can always try:
Each of the above currently offers a free Demo Account.
How to Spread Bet on Forex - Canadian Dollar - Yen Rolling Daily
As with a variety of financial markets, you are able to spread bet on forex rates, like Canadian Dollar - Yen, to either rise or fall.
If you were to look at the InterTrader trading site, they are valuing the Canadian Dollar - Yen Rolling Daily market at ¥81.893 - ¥81.953. Therefore, an investor could spread bet on the Canadian Dollar - Yen rate:
- Increasing above ¥81.953, or
- Decreasing below ¥81.893
When making a spread bet on Canadian Dollar - Yen you trade in £x per point where a point is ¥0.010 of the pairs movement. So, should you choose to risk £4 per point and Canadian Dollar - Yen moves ¥0.050 then that would make a difference to your profits (or losses) of £20. £4 per point x ¥0.050 = £4 per point x 5.0 points = £20.
Rolling Daily FX Markets
Note that this is a Rolling Daily Market and therefore unlike a futures market, there is no closing date. As a result, if your trade is still open at the end of the trading day, it just rolls over to the next day.
If your bet is rolled over and you are speculating that the market will:
- Go up - then you will often be charged a small financing fee, or
- Go down - then a small payment is often credited to your account
For more information see Rolling Daily Spread Betting.
Canadian Dollar - Yen Rolling Daily Spread Trading Example
So, if we think about the spread of ¥81.893 - ¥81.953 and make the assumptions that:
- you have done your research, and
- it leads you to feel that the Canadian Dollar - Yen market will increase and move higher than ¥81.953
then you might buy at ¥81.953 and risk, let’s say, £2 per point.
With such a spread bet you win £2 for every point (¥0.010) that the Canadian Dollar - Yen FX rate moves above ¥81.953. However, it also means that you will lose £2 for every point that the Canadian Dollar - Yen market goes lower than ¥81.953.
Considering this from another angle, should you ‘Buy’ a spread bet then your profit/loss is worked out by taking the difference between the final price of the market and the price you bought the market at. You then multiply that difference in price by the stake.
With this in mind, if after a few days the forex pair rose then you might consider closing your spread bet in order to lock in your profit.
As an example, should the market rise, the spread, determined by the spread betting firm, could change to ¥82.568 - ¥82.628. You would close your trade by selling at ¥82.568. As a result, with the same £2 stake this trade would result in a profit of:
Profits (or losses) = (Settlement Level - Initial Level) x stake
Profits (or losses) = (¥82.568 - ¥81.953) x £2 per point stake
Profits (or losses) = ¥0.615 x £2 per point stake
Profits (or losses) = 61.5 points x £2 per point stake
Profits (or losses) = £123.00 profit
Speculating on currencies, by spread betting or otherwise, doesn't always work out as you would have liked. In this example, you had bet that the FX pair would rise. Of course, the currency rate could fall.
If the Canadian Dollar - Yen rate began to drop then you could choose to close your position in order to restrict your losses.
So if the spread fell to ¥81.379 - ¥81.439 you would close your spread bet by selling at ¥81.379. If so, this would result in a loss of:
Profits (or losses) = (Settlement Level - Initial Level) x stake
Profits (or losses) = (¥81.379 - ¥81.953) x £2 per point stake
Profits (or losses) = ¥0.574 x £2 per point stake
Profits (or losses) = -57.4 points x £2 per point stake
Profits (or losses) = -£114.80 loss
Note: Canadian Dollar - Yen Rolling Daily spread correct as of 17-Jun-11.
Where can I Find Free Live Prices on Canadian Dollar - Yen?
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 Canadian Dollar - Yen 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 Canadian Dollar - Yen?
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:
Canadian Dollar - Yen Spread Betting, sponsored by
FinancialSpreads.com.
You can spread bet on Canadian Dollar - Yen 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.
'Canadian Dollar - Yen Spread Betting' by DB, updated 26-Apr-12
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The complete Canadian Dollar - Yen forex spread betting guide. Where to trade, where to find live prices and spread betting charts on the Canadian Dollar - Yen currency market, how to spread bet on FX and...read article: Canadian Dollar - Yen Spread Betting.
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