EUR/ZAR Spread Betting
Where Can I Spread Bet on EUR/ZAR? |
Investors are currently able to speculate without paying any commissions or brokers' fees on EUR/ZAR, as well as a wide variety of other markets, through firms such as:
Advert:
EUR/ZAR Spread Betting, sponsored by FinancialSpreads.com.
You can spread bet on EUR/ZAR with
Financial Spreads.
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Where Can I Spread Bet on EUR/ZAR for Free? |
Speculating does involve risk. Nevertheless, if you would like to try a completely free Practice Account, which lets you check trading charts and try spread trading, then please see below.
When thinking about which investment option might work for you, also remember that, in the UK, spread trading is currently free of income tax, capital gains tax and stamp duty*.
If you want to try a free spread betting site then note that investors can take a position on EUR/ZAR with no commissions and no brokers' fees at:
If you are interested in a virtual money Test Account / Demo Account that allows users to get to grips with spread betting, and markets such as EUR/ZAR, then look at:
Each of these spread betting companies currently provide a Test Account which lets investors try out new trading ideas, gain experience with a variety of orders and review professional level charts.
How to Spread Bet on EUR/ZAR? |
As with a lot of financial markets, it is possible to speculate on FX rates, such as EUR/ZAR, to rise or fall.
Logging onto Tradefair, you can see that they are currently offering the EUR/ZAR Rolling Daily market at R 10.4598 - R 10.4798. This means an investor could spread bet on the EUR/ZAR forex pair:
 Moving above R 10.4798, or
 Moving below R 10.4598
Whilst financial spread betting on EUR/ZAR you trade in £x per point where a point is R 0.0010 of the pairs movement. As a result, if you decide to risk £4 per point and EUR/ZAR moves 37.0 points then there would be a difference to your bottom line of £148. £4 per point x R 0.0370 = £4 per point x 37.0 points = £148.
Rolling Daily FX Markets
You should note that this is a Rolling Daily Market which means that unlike a normal spread betting futures market, there is no closing date. You do not have to close your trade, should it still be open at the end of the trading day, it will simply roll over to the next session.
If your FX bet does roll over then you are normally charged a small financing fee. For a more detailed guide to Rolling Daily Markets, including a fully worked example, please read our feature Rolling Daily Spread Betting.
EUR/ZAR Rolling Daily - Forex Spread Betting Example |
If you think about the spread of R 10.4598 - R 10.4798 and assume:
- You have completed your market analysis, and
- It leads you to feel that the EUR/ZAR rate will go above R 10.4798
Then you may buy a spread bet at R 10.4798 and invest £2 per point.
With such a bet you make a profit of £2 for every point (R 0.0010) that the EUR/ZAR forex rate pushes higher than R 10.4798. On the other hand, it also means you will lose £2 for every point that the EUR/ZAR market goes lower than R 10.4798.
Put another way, if you were to ‘Buy’ a spread bet then your profits (or losses) are found by taking the difference between the settlement price of the market and the initial price you bought the market at. You then multiply that difference in price by the stake.
Therefore, if after a few hours the foreign exchange rate started to rise you might decide to close your spread bet so that you can lock in your profit.
Therefore, if the market moved up then the spread, determined by the spread betting company, could be adjusted to R 10.5532 - R 10.5732. In order to close/settle your position you would sell at R 10.5532. So, with the same £2 stake this trade would make you a profit of:
Profits (or losses) = (Closing Value - Initial Value) x stake
Profits (or losses) = (R 10.5532 - R 10.4798) x £2 per point stake
Profits (or losses) = R 0.0734 x £2 per point stake
Profits (or losses) = 73.4 points x £2 per point stake
Profits (or losses) = £146.80 profit
Speculating on forex, whether by spread betting or otherwise, can work against you. In this case, you wanted the forex pair to go up. However, the FX rate could go down.
If the EUR/ZAR market weakened, against your expectations, then you might decide to settle/close your spread bet to stop any further losses.
Should the spread drop to R 10.3970 - R 10.4170 then this means you would sell back your position at R 10.3970. Accordingly, your loss would be:
Profits (or losses) = (Closing Value - Initial Value) x stake
Profits (or losses) = (R 10.3970 - R 10.4798) x £2 per point stake
Profits (or losses) = R -0.0828 x £2 per point stake
Profits (or losses) = -82.8 points x £2 per point stake
Profits (or losses) = -£165.60 loss
Note: EUR/ZAR Rolling Daily spread betting market accurate as of 11-Sep-12.
Where Can I Find Live Spread Betting Prices and Charts for EUR/ZAR? |
If you would like access to charts and live prices for EUR/ZAR, you will normally require a spread betting account. Readers should note that opening any such account is subject to suitability, credit and status checks.
If your account application is accepted then you will be able to log on and review the charts and the current pricing. Usually, these are provided as part of the service. Having said that, you're likely to receive an occasional sales email or letter from the relevant financial spread betting company.
Of course, if you decide to spread bet then you should remember that financial spread trading does involve a significant level of risk to your funds and it's possible to incur losses that exceed your initial deposit.
Although the charts can differ from platform to platform, in order to help your analysis, the charts often come with useful features that include:
- A wide range of intervals e.g. 30 minutes, 4 hours, 1 week and so on
- Different display styles e.g. candlestick charts and line charts
- Tools for drawing and adding features e.g. Trendlines, Fibonacci Fans, Time Zones and Arcs
- Overlays and technical indicators e.g. Moving Average, RSI and so on
Charts provided by Financial Spreads also have:
- Back Testing, Analysis and Optimisation tools
- Automated email alerts that trigger when a market reaches a specific level
Example FinancialSpreads forex rate chart
The spread trading companies in the list below let their account holders have access to real-time prices/charts:
Advert:
EUR/ZAR Spread Betting, sponsored by FinancialSpreads.com.
You can spread bet on EUR/ZAR 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/ZAR Spread Betting' by DB, updated 16-May-13
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