EUR / JPY Spread Betting
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Welcome to Clean Financial's guide to EUR / JPY spread betting.
Quick and simple answers to the most common EUR / JPY questions:
Q) Where can I Spread Bet on EUR / JPY?
Q) Where can I Trade for Free on EUR / JPY?
Q) How to Spread Bet on EUR / JPY?
Q) Where can I find Free Live Prices on EUR / JPY?
Q) Where can I find Free EUR / JPY Charts?
Q) Where can I find free Forex Trading News?
Q) Where can I find Narrow Forex Spreads?
Advert:
EUR / JPY Spread Betting, sponsored by
FinancialSpreads.com.
Narrow EUR / JPY Spreads plus
tax free*, commission free, broker free:
Apply for an account.
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Spread Betting Companies - Forex Spreads Comparison
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| GBP / USD Daily - Spread Size |
3 |
3 |
3 |
2 |
3 |
2-4 |
| GBP / USD Daily - Min Stake |
£1 |
£1 |
£0.50 |
£1 |
£1 |
£1 |
| GBP / USD Future - Spread Size |
8 |
8 |
12 |
6 |
8 |
- |
| GBP / USD Future - Min Stake |
£1 |
£1 |
£1 |
£1 |
£1 |
- |
| GBP / EUR Daily - Spread Size |
4 |
4 |
2 |
5 |
4 |
1-3‡ |
| GBP / EUR Daily - Min Stake |
£1 |
£1 |
£0.50 |
£1 |
£1 |
£1 |
| GBP / EUR Future - Spread Size |
10 |
10 |
10 |
15 |
10 |
- |
| GBP / EUR Future - Min Stake |
£1 |
£1 |
£1 |
£1 |
£1 |
- |
| EUR / USD Daily - Spread Size |
2 |
2 |
2 |
1 |
2 |
1-3 |
| EUR / USD Daily - Min Stake |
£1 |
£1 |
£0.50 |
£1 |
£1 |
£1 |
| EUR / USD Future - Spread Size |
6 |
6 |
12 |
6 |
6 |
- |
| EUR / USD Future - Min Stake |
£1 |
£1 |
£1 |
£1 |
£1 |
- |
Comparison Notes
Where can I Spread Bet on EUR / JPY?
You can currently spread bet on EUR / JPY and other Forex markets at:
Where can I Trade for Free on the EUR / JPY market?
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 EUR / JPY 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 EUR / JPY, then you can you can always try:
Each of the above currently offers a free Demo Account.
How to FX Spread trade EUR / JPY?
As with many forex markets, you can spreadbet on the future price of the EUR / JPY cross rate, increasing or decreasing.
As it stands the EUR / JPY (March) market is 159.56 - 159.66 with FinancialSpreads.com. This market expires on 14-Mar-08.
Therefore you bet on the EUR / JPY currency pair settling:
- Above 159.66, or
- Below 159.56
By the expiry date of 14-Mar-08.
With the EUR / JPY market, you trade in £X per pip, where a pip is 0.01 point of EUR / JPY movement. Eg if your stake was £12 per pip and the EUR / JPY cross rate moves 0.04 points (4 pips) then that would be a £48 difference to your P&L.
4 pips x £12 per pip = £48.
EUR / JPY Spread Trading Example
Let's say, taking the above spread of 159.56 - 159.66, that you feel that the EUR / JPY cross appears as though it will go up to more than 159.66 by 14-Mar-08.
Therefore you buy at 159.66 for a stake of £5 per pip.
If by the closing date the price closes at 159.83, then your profit is calculated by taking the difference between the closing price of 159.83 and the price you bought at, 159.66 and then multiplying that by the stake per pip.
Profit = ((159.83 - 159.66) / 0.01) x £5 per pip stake.
Profit = (0.17 / 0.01) x £5 per pip stake.
Profit = 17 pips x £5 per pip.
= £85 profit.
Of course if the trade didn't work as expected and had EUR / JPY cross rate fallen and the market settled at a lower than expected level of 159.46, you would have lost.
Loss = ((159.46 - 159.66) / 0.01) x £5 per pip stake.
Loss = (-0.2 / 0.01) x £5 per pip stake.
Loss = 20 pips x £5 per pip.
= -£100 loss.
(Note: Forex spread prices quoted as of 26-Nov-07).
Where can I Find Free Live Prices on EUR / JPY?
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 EUR / JPY 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.
Advert:
EUR / JPY Spread Betting, sponsored by
FinancialSpreads.com.
Narrow EUR / JPY Spreads plus
tax free*, commission free, broker free:
Apply for an account.
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'EUR / JPY Spread Betting' by DB, updated 28-Feb-08
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