EUR/AUD Spread Betting
Where Can I Spread Bet on EUR/AUD? |
At the moment, investors can speculate on EUR/AUD by opening an account with the following providers:
Advert:
EUR/AUD Spread Betting, sponsored by FinancialSpreads.com.
You can spread bet on EUR/AUD with
Financial Spreads.
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Where Can I Spread Bet on EUR/AUD for Free? |
By its very nature, speculating always has risks. Nevertheless, if you want to open an entirely free Test Account, which lets you try out spread trading on a wide range of markets, then see below.
Furthermore, spread betting in the UK is tax free*, i.e. it is exempt from capital gains tax, stamp duty and income tax.
If you are interested in a low cost spread betting platform then you should note that you can spread bet on EUR/AUD without paying any brokers' fees or commissions through companies such as:
If you want to open a free Practice Account which lets you get a feel for spread betting, including trading markets like EUR/AUD, then you can always take a look at:
All of the above spread trading firms currently provide a risk free Practice Account that allows investors to gain experience with an array of trading orders, access professional level charts and try out new theories.
Where Can I Find Live Spread Betting Prices and Charts for EUR/AUD? |
The interactive CFD trading chart below provides a helpful overview of the EUR/AUD FX rate.
The above chart is provided by Plus500 and typically uses the near-term EUR/AUD futures contract (not the daily market).
To look at real time spread betting prices and charts for EUR/AUD, you might need a spread betting account.
A spreads account would also give you access to shorter-term daily prices. Users should note that opening any such account is subject to credit, suitability and status checks.
Should your application be approved then you can log on to review the real-time trading charts and prices. These are normally provided for free. The catch? You're likely to receive the occasional email or letter from your spread betting broker.
Of course, if you were to trade, be aware that financial spread betting and CFDs do involve a significant level of risk to your funds and you can incur losses that exceed your initial deposit.
Professional Charting Packages for EUR/AUD |
Even though charting software/packages vary from platform to platform, to help your trading, most charts generally come with tools and features that include:
- A large range of intervals e.g. 30 minutes, 1 hour, 1 month etc.
- Different displays e.g. bar charts and candlestick charts
- Drawing features e.g. Trendlines, Fibonacci Time Zones, Arcs and Fans
- Chart overlays and technical indicators e.g. Bollinger Bands, Momentum, True Strength Index etc.
The charts provided by FinancialSpreads.com also include advanced features like:
- BackTesting and Optimisation tools
- Automatic alerts for when your chosen market reaches a specific level
FinancialSpreads forex rate trading chart
The online spread betting brokers listed below provide account holders with real time trading prices/charts:
How to Spread Bet on EUR/AUD? |
As with a variety of financial markets, you are able to spread bet on foreign exchange pairs, like EUR/AUD, to go up or down.
Looking at Tradefair, you can see that they are currently offering the EUR/AUD Rolling Daily market at A$1.23163 - A$1.23243. Therefore, an investor could put a spread bet on the EUR/AUD pair:
 Increasing above A$1.23243, or
 Decreasing below A$1.23163
When financial spread betting on EUR/AUD you trade in £x per point where a point is A$0.00010 of the pairs movement. So, if you staked £4 per point and EUR/AUD moves 37.0 points then that would change your profits (or losses) by £148. £4 per point x A$0.00370 = £4 per point x 37.0 points = £148.
Rolling Daily Forex Markets
One thing to note is that this is a Rolling Daily Market which means that there is no preset closing date for this market. If your position is still open at the end of the day, it will simply roll over to the next session.
If you allow your forex trade to roll over then you are usually charged a small overnight financing fee. For a more detailed example see Rolling Daily Spread Betting.
EUR/AUD Rolling Daily - FX Spread Betting Example |
Now, if we consider the above spread of A$1.23163 - A$1.23243 and make the assumptions that:
- You've done your analysis of the FX markets, and
- Your research leads you to think that the EUR/AUD market will go above A$1.23243
Then you may go long of the market at A$1.23243 for a stake of £2 per point.
With such a bet you make a profit of £2 for every point (A$0.00010) that the EUR/AUD rate increases higher than A$1.23243. However, such a bet also means that you will make a loss of £2 for every point that the EUR/AUD market moves lower than A$1.23243.
Considering 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 spread at. You then multiply that difference in price by the stake.
As a result, if after a few days the currency rate moved higher then you could consider closing your spread bet so that you can lock in your profit.
If that happened then the spread, set by the spread betting company, might move up to A$1.23859 - A$1.23939. To close your position you would sell at A$1.23859. So, with the same £2 stake you would make a profit of:
P&L = (Settlement Price - Opening Price) x stake
P&L = (A$1.23859 - A$1.23243) x £2 per point stake
P&L = A$0.00616 x £2 per point stake
P&L = 61.6 points x £2 per point stake
P&L = £123.20 profit
Trading forex, by spread betting or otherwise, is not always straightforward. In this example, you had bet that the FX pair would go up. Naturally, it might go down.
If the EUR/AUD rate decreased, contrary to your expectations, then you could close your spread bet in order to limit your losses.
Should the market pull back to A$1.22707 - A$1.22787 then this means you would settle/close your trade by selling at A$1.22707. As a result, your loss would be:
P&L = (Settlement Price - Opening Price) x stake
P&L = (A$1.22707 - A$1.23243) x £2 per point stake
P&L = -A$0.00536 x £2 per point stake
P&L = -53.6 points x £2 per point stake
P&L = -£107.20 loss
Note - EUR/AUD Rolling Daily spread betting price correct as of 11-Sep-12.
Advert:
EUR/AUD Spread Betting, sponsored by FinancialSpreads.com.
You can spread bet on EUR/AUD 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.
'EUR/AUD Spread Betting' by DB, updated 09-May-13
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