EUR/CAD Spread Betting
Where Can I Spread Bet on EUR/CAD? |
Investors are able to take a view on EUR/CAD with an account from any of these companies:
Advert:
EUR/CAD Spread Betting, sponsored by FinancialSpreads.com.
You can spread bet on EUR/CAD with
Financial Spreads.
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Where Can I Spread Bet on EUR/CAD for Free? |
Investing in the financial markets is not without its risks. Having said that, if you want to try a (free) Demo Account, that lets you try out spread betting, then see below.
When considering which investment option is right for you, don't forget that in the UK, spread betting is free of capital gains tax, income tax and stamp duty*.
If you want to try a free financial spread betting site then note that investors can spread bet on EUR/CAD with zero commissions and no brokers' fees with companies like:
If you want to have a look at a completely free Practice Account where you are able to get a better understanding of online spread betting, and markets like gold, the Dow Jones, USD/JPY and EUR/CAD, then you could look into:
Each of the spread betting companies listed above currently provide a Demo Account that investors can use to gain experience with trading orders, use professional charts and try out trading ideas.
Where Can I Find Live Spread Betting Prices and Charts for EUR/CAD? |
This CFDs chart will give you a useful guide to the EUR/CAD currency rate.
The Plus 500 chart that we use above is normally based on the underlying EUR/CAD futures price.
Should you want to analyse real time financial spread betting charts/prices for EUR/CAD, you will need to apply for a spread betting account.
In addition, a spreads account would let you access shorter term daily prices. Users should note that all such accounts are normally dependent on status, suitability and credit checks.
If your application is approved, you will be able to log in and see the real time prices and charts. These are usually provided as part of the service, however, you're likely to receive the occasional letter or call from your chosen spread betting firm.
Of course, if you do decide to trade then, before you start, remember that spread trading and contracts for difference do carry a high level of risk to your funds and you may lose more than your initial deposit.
Technical Charting Packages for EUR/CAD |
Whilst the charting packages tend to vary across the industry, the majority of charts usually come with tools and features that include:
- A broad range of intervals, for example, 30 minutes, 2 hours, 1 day and so on
- A variety of displays, for example, bar, line and candlestick charts
- Drawing options and features, for example, Fibonacci time zones, fans and arcs
- Technical indicators and overlays, for example, Moving Average, Relative Strength Index (RSI), True Strength Index (TSI) and so on
Charts with InterTrader also come with more advanced aspects, including:
- BackTesting, Analysis and Optimisation functions
- Automated alerts when a market hits a pre-determined level
Sample forex market candle chart
The following online spread betting firms let their users have access to prices and live charts:
How to Spread Bet on EUR/CAD? |
As with a wide variety of global financial markets, you can speculate on forex pairs, such as EUR/CAD, to either rise or fall.
Looking at a financial spread betting platform like InterTrader, we can see they have put the EUR/CAD Rolling Daily market at C$1.24999 - C$1.25079. This means that you can put a spread bet on the EUR/CAD rate:
 Going higher than C$1.25079, or
 Going lower than C$1.24999
Whilst spread betting on EUR/CAD you trade in £x per point where a point is C$0.00010 of the pairs movement. Therefore, if you decided to have a stake of £3 per point and EUR/CAD moves 39.0 points then there would be a difference to your profits (or losses) of £117. £3 per point x C$0.00390 = £3 per point x 39.0 points = £117.
Rolling Daily Forex Markets
It's important to note that this is a Rolling Daily Market and so there is no predetermined settlement date for this market. If you leave your position open at the end of the day, it just rolls over into the next day.
If you do roll over an FX position then you will often be charged a small financing fee. You can learn more about Rolling Daily Markets in our article Rolling Daily Spread Betting.
EUR/CAD Rolling Daily - Foreign Exchange Spread Betting Example |
If we think about the spread of C$1.24999 - C$1.25079 and make the assumptions that:
- You have done your forex market research, and
- Your research leads you to feel the EUR/CAD rate will go higher than C$1.25079
Then you could decide that you want to go long of the market at C$1.25079 and invest £4 per point.
So, you make a profit of £4 for every point (C$0.00010) that the EUR/CAD pair moves above C$1.25079. However, you will make a loss of £4 for every point that the EUR/CAD market goes below C$1.25079.
Thinking of this in a slightly different way, should you ‘Buy’ a spread bet then your profits (or losses) are calculated by taking the difference between the final 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 sessions the FX pair moved higher then you might want to close your position and therefore lock in your profits.
If that happened then the spread, set by the spreads firm, might be adjusted to C$1.25448 - C$1.25528. You would close your spread bet by selling at C$1.25448. So, with the same £4 stake you would make a profit of:
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
Financial spread betting may not go to plan. In the above example, you had bet that the FX pair would rise. Naturally, the currency rate might fall.
If the EUR/CAD market decreased, contrary to your expectations, then you could close your spread bet in order to restrict your losses.
So if the market pulled back to C$1.24735 - C$1.24815 then you would sell back your position at C$1.24735. That would mean you would lose:
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 market taken as of 11-Sep-12.
Advert:
EUR/CAD Spread Betting, sponsored by FinancialSpreads.com.
You can spread bet on EUR/CAD 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/CAD Spread Betting' by DB, updated 09-May-13
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