Euro - Australian Dollar Spread Betting
Where Can I Spread Bet on Euro - Australian Dollar? |
Currently, investors can financial spread bet on Euro - Australian Dollar by opening an account with the following companies:
Advert:
Euro - Australian Dollar Spread Betting, sponsored by FinancialSpreads.com.
You can spread bet on Euro - Australian Dollar with
Financial Spreads.
|
Where Can I Spread Bet on Euro - Australian Dollar for Free? |
Investing in the financial markets always involves some risk, however, if you'd like to open a free Demo Account, that allows you to trial financial spread betting, see below for more details.
In addition, remember that in the UK, spread betting is tax free*, i.e. there is no stamp duty, capital gains tax or income tax.
If you're interested in a low cost trading platform, note that you are able to take a view on Euro - Australian Dollar commission free through providers like:
If you want a (free) virtual money Demo Account / Test Account which allows you to trial online spread betting, including trading markets such as the FTSE 100, crude oil, EUR/USD and Euro - Australian Dollar, then you can always have a closer look at:
The above spread betting companies currently provide a Demo Account which investors can use to check charts, test new ideas and apply a range of trading orders.
Where Can I Find Live Spread Betting Prices and Charts for Euro - Australian Dollar? |
The live CFD chart below will give users a nice look at the Euro - Australian Dollar rate.
The above chart typically follows the Euro - Australian Dollar futures market (not the daily market).
If you'd like access to financial spread betting charts and live prices for Euro - Australian Dollar, you could use a financial spread betting account.
In addition, a spreads account would give you access to short term daily prices. Accounts are subject to credit, suitability and status checks.
If your new account is approved then you can log in and check the real time trading charts/prices. On most platforms, these will be provided as part of the service. The catch is that you're likely to get an occasional letter or call from the online spread betting company.
If you do decide to trade then, before you start, be aware that spread betting and contracts for difference involve a high level of risk to your capital and it is possible to lose more than your initial deposit.
Advanced Charts for Euro - Australian Dollar |
Though the charts can differ between firms, they usually come with handy features and tools, including:
- A number of different time intervals - 30 minutes, 1 hour, 1 week etc
- A variety of displays - line charts and candle charts
- Drawing features - Fibonacci Fans, Arcs and Time Zones
Charts on Financial Spreads also offer more advanced aspects, including:
- Back Testing tools and Customisable Indicators
- Popular chart overlays - Ichimoku Clouds, Exponential Moving Average, Wilder's Smoothing etc
- Indicators - MACD, Elder Rays, % Price Oscillator etc
- Automatic alerts that trigger when your chosen market hits a specific price
Sample FX market trading chart
The spread trading firms in the following list provide users with live trading prices/charts:
How to Spread Bet on Euro - Australian Dollar? |
As with a variety of financial markets, you can place a spread bet on foreign exchange pairs, such as Euro - Australian Dollar, to go up or down.
Looking at a spread betting platform like Tradefair, we can see they are pricing the Euro - Australian Dollar Rolling Daily market at A$1.24961 - A$1.25041. This means you can put a spread bet on the Euro - Australian Dollar rate:
 Going higher than A$1.25041, or
 Going lower than A$1.24961
Whilst spread trading on Euro - Australian Dollar you trade in £x per point where a point is A$0.00010 of the pairs movement. As a result, if you decide to invest £3 per point and Euro - Australian Dollar moves 39.0 points then that would alter your profits (or losses) by £117. £3 per point x A$0.00390 = £3 per point x 39.0 points = £117.
Rolling Daily Forex Markets
It is important to note that this is a Rolling Daily Market and so there is no predetermined closing date for this market. If you leave your trade open at the end of the day, it will just roll over into the next trading session.
If your forex bet is rolled over then you usually pay a small overnight financing fee. To learn more please read Rolling Daily Spread Betting.
Euro - Australian Dollar Rolling Daily - FX Spread Trading Example |
Now, if we continue with the spread of A$1.24961 - A$1.25041 and assume that:
- You've completed your research, and
- You think that the Euro - Australian Dollar rate will push higher than A$1.25041
Then you could decide that you want to buy at A$1.25041 for a stake of, for the sake of argument, £2 per point.
Therefore, you make a profit of £2 for every point (A$0.00010) that the Euro - Australian Dollar pair pushes above A$1.25041. Nevertheless, it also means that you will lose £2 for every point that the Euro - Australian Dollar market goes below A$1.25041.
Thinking of this in a slightly different way, if you buy a spread bet then your P&L is worked out by taking the difference between the closing price of the market and the initial 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 rate moved higher then you could consider closing your position and therefore lock in your profits.
So if the market rose then the spread might move to A$1.25679 - A$1.25759. You would settle your position by selling at A$1.25679. Therefore, with the same £2 stake you would calculate your profit as:
P&L = (Closing Value - Initial Value) x stake
P&L = (A$1.25679 - A$1.25041) x £2 per point stake
P&L = A$0.00638 x £2 per point stake
P&L = 63.8 points x £2 per point stake
P&L = £127.60 profit
Financial spread betting on forex is not simple. In the above example, you wanted the FX pair to rise. Of course, the forex rate could fall.
If the Euro - Australian Dollar market weakened, against your expectations, then you could close your position to limit your losses.
Should the spread drop to A$1.24478 - A$1.24558 you would settle/close your trade by selling at A$1.24478. That would mean you would lose:
P&L = (Closing Value - Initial Value) x stake
P&L = (A$1.24478 - A$1.25041) x £2 per point stake
P&L = -A$0.00563 x £2 per point stake
P&L = -56.3 points x £2 per point stake
P&L = -£112.60 loss
Note: Euro - Australian Dollar Rolling Daily spread betting price correct as of 18-Sep-12.
Advert:
Euro - Australian Dollar Spread Betting, sponsored by FinancialSpreads.com.
You can spread bet on Euro - Australian Dollar 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.
'Euro - Australian Dollar Spread Betting' by DB, updated 16-May-13
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