EUR/CAD Spread Betting

The CleanFinancial guide to EUR/CAD spread betting.

• Where Can I Spread Bet on EUR/CAD?
• Live EUR/CAD Charts
• Live EUR/CAD Prices
• EUR/CAD Trading News and Analysis
• Where Can I Trade EUR/CAD for Free?
• Where Can I Practice Trading EUR/CAD?
• How to Spread Bet on EUR/CAD?
• Forex Spread Betting Guide

Live EUR/CAD Chart & Prices

The real-time CFDs chart below provides readers with a nice look at the EUR/CAD FX rate.


The chart above is provided by Plus 500 and usually shows the underlying EUR/CAD futures price (not the daily market).

If you’d like to look at real time spread trading prices/charts for EUR/CAD, you could use a financial spread betting account.

Also, a spreads account will let you have access to the shorter term spot prices. Readers should note that opening any such account is subject to status.

If your application is accepted then you will be able to log on and study the real-time charts and prices. These are normally free. Having said that, you are likely to get the odd email and/or letter from the relevant provider.

If you do trade then be aware that financial spread betting and contracts for difference involve a high degree of risk and it is possible to lose more than your initial investment.

Where Can I Spread Bet on EUR/CAD?

You are able to speculate with zero commissions and no brokers’ fees on EUR/CAD, as well as a wide array of similar spread betting markets, at:

• City Index
• Financial Spreads
• IG
• InterTrader
• Spreadex

EUR/CAD Market Analysis and Trading News

» More forex trading views and analysis.

Professional Level Charts for EUR/CAD

Although charting software/packages differ across the various providers, in order to assist you with your trading, most charts usually have valuable tools and features such as:

• An array of intervals, for example, 30 minutes, 1 hour, 1 week and so on
• Various display options, for example, candlestick charts and line charts
• Tools for drawing/adding features, for example, Fibonacci Retracements and Trendlines
  
  

Charts with FinancialSpreads also come with advanced features:

• BackTesting, Custom Indicators and Optimisation functions
• Popular overlays, for example, Ichimoku Kinko Hyo, Moving Average, Chande Kroll Stop and so on
• A choice of indicators, for example, True Strength Index (TSI), Average Directional Index, % Price Oscillator and so on
• Email alerts for when your chosen market hits a particular level
  
  

Example FX market chart



The spread betting brokers listed below provide users with live prices and charts:

• City Index (read review)
• ETX Capital (read review)
• Financial Spreads (read review)
• Finspreads (read review)
• IG (read review)
• Inter Trader (read review)
• Spreadex (read review)

Where Can I Trade EUR/CAD for Free?

Trading is never risk free, but if you want to open a completely free Practice Account, that lets you trial spread trading, then please see below for further details.

When looking at which investment option might work for you, also remember that spread betting, in the UK, is tax free*, i.e. it is exempt from stamp duty, capital gains tax and income tax.

If you are looking for a low cost spread betting website, keep in mind that you are able to trade EUR/CAD without paying any commissions or brokers’ fees through companies such as:

• City Index
• Financial Spreads
• IG Index
• Inter Trader
• Spreadex

Free Demo Account

If you want to have a look at a Demo Account / Test Account which allows users to try out financial spread betting, and markets like EUR/USD, the DAX 30, gold and EUR/CAD, then take a look at:

• Financial Spreads
• Inter Trader

The above companies currently provide a risk free Practice Account which lets investors gain experience with a variety of orders, test trading theories and study professional level charts.

How to Spread Bet on EUR/CAD?

As with a wide range of financial markets, it is possible to spread bet on currency pairs, like EUR/CAD, to rise or fall.

Logging onto FXCM, we can see that they are valuing the EUR/CAD Rolling Daily market at C$1.24999 – C$1.25079. As a result, you could spread bet on the EUR/CAD pair:

  Going higher than C$1.25079, or
  Going lower than C$1.24999

Whilst financial spread trading on EUR/CAD you trade in £x per point where a point is C$0.00010 of the pairs movement. Therefore, should you decide to risk £4 per point and EUR/CAD moves 30.0 points then that would be a difference to your profit/loss of £120. £4 per point x C$0.00300 = £4 per point x 30.0 points = £120.

Rolling Daily Foreign Exchange Markets

It’s important to note that this is a Rolling Daily Market and so there is no settlement date for this market. If you decide to leave your trade open at the end of the day, it will stay open and roll over into the next trading session.

If you do let your FX position roll over then you are charged a small overnight financing fee. For a more detailed example see Rolling Daily Spread Betting.

EUR/CAD Trading Example 1

Now, if we take the spread of C$1.24999 – C$1.25079 and make the assumptions that:

• You have completed your analysis, and
• Your research suggests that the EUR/CAD rate will rise above C$1.25079

Then you could decide that you are going to go long of the market at C$1.25079 for a stake of, let’s say, £4 per point.

With such a bet you make a profit of £4 for every point (C$0.00010) that the EUR/CAD rate moves higher than C$1.25079. On the other hand, such a bet also means you will make a loss of £4 for every point that the EUR/CAD market moves lower than C$1.25079.

Put another way, should you ‘Buy’ a spread bet then your profits (or losses) are worked out by taking the difference between the settlement price of the market and the price you bought the spread at. You then multiply that price difference by your stake.

If after a few sessions the rate started to move upwards then you could choose to close your trade and therefore lock in your profits.

If that happened then the spread, set by the spread trading company, might change to C$1.25448 – C$1.25528. In order to close your position you would sell at C$1.25448. Therefore, with the same £4 stake you would calculate your profit as:

Profit / loss = (Final Price – Initial Price) x stake
Profit / loss = (C$1.25448 – C$1.25079) x £4 per point stake
Profit / loss = C$0.00369 x £4 per point stake
Profit / loss = 36.9 points x £4 per point stake
Profit / loss = £147.60 profit

Spread betting is not always simple. In this example, you had bet that the currency pair would go up. However, the FX rate can also go down.

If the EUR/CAD market fell then you could choose to close your position in order to limit your losses.

If the market fell to C$1.24735 – C$1.24815 then this means you would settle your position by selling at C$1.24735. So your loss would be calculated as:

Profit / loss = (Final Price – Initial Price) x stake
Profit / loss = (C$1.24735 – C$1.25079) x £4 per point stake
Profit / loss = -C$0.00344 x £4 per point stake
Profit / loss = -34.4 points x £4 per point stake
Profit / loss = -£137.60 loss

Note: EUR/CAD Rolling Daily spread taken as of 11-Sep-12.

How to Spread Bet on Euro – Canadian Dollar – Example 2

Looking at a spread trading platform like Tradefair, we can see they are currently valuing the Euro – Canadian Dollar Rolling Daily market at C$1.27267 – C$1.27347. This means you can put a spread bet on the Euro – Canadian Dollar pair:

  Rising higher than C$1.27347, or
  Falling lower than C$1.27267

When financial spread trading on Euro – Canadian Dollar you trade in £x per point where a point is C$0.00010 of the pairs movement. Therefore, if you choose to risk £4 per point and Euro – Canadian Dollar moves 37.0 points then there would be a difference to your P&L of £148. £4 per point x C$0.00370 = £4 per point x 37.0 points = £148.

So, if we think about the spread of C$1.27267 – C$1.27347 and assume:

• You have completed your analysis of the markets, and
• Your analysis suggests that the Euro – Canadian Dollar rate will go above C$1.27347

Then you may buy at C$1.27347 for a stake of £3 per point.

With such a spread bet you make a profit of £3 for every point (C$0.00010) that the Euro – Canadian Dollar rate rises higher than C$1.27347. Having said that, you will make a loss of £3 for every point that the Euro – Canadian Dollar market falls lower than C$1.27347.

Looking at this from another angle, should you ‘Buy’ a spread bet then your P&L is found by taking the difference between the final price of the market and the price you bought the market at. You then multiply that price difference by the stake.

As a result, if after a few sessions the foreign exchange rate rose then you might want to close your position to lock in your profit.

Taking this a step further, if the market rose then the spread could change to C$1.27665 – C$1.27745. You would close your spread bet by selling at C$1.27665. Therefore, with the same £3 stake your profit would come to:

Profit / loss = (Closing Price – Opening Price) x stake
Profit / loss = (C$1.27665 – C$1.27347) x £3 per point stake
Profit / loss = C$0.00318 x £3 per point stake
Profit / loss = 31.8 points x £3 per point stake
Profit / loss = £95.40 profit

Financial spread trading on FX is not simple. With this example, you had bet that the forex pair would rise. However, it might decrease.

If the Euro – Canadian Dollar market had fallen then you could close your trade to stop any further losses.

So if the market dropped to C$1.26978 – C$1.27058 then this means you would close your trade by selling at C$1.26978. That would mean you would lose:

Profit / loss = (Closing Price – Opening Price) x stake
Profit / loss = (C$1.26978 – C$1.27347) x £3 per point stake
Profit / loss = -C$0.00369 x £3 per point stake
Profit / loss = -36.9 points x £3 per point stake
Profit / loss = -£110.70 loss

Note: Euro – Canadian Dollar Rolling Daily FX market taken as of 18-Sep-12.