Euro - South African Rand Spread Betting
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Welcome to Clean Financial's guide to Euro - South African Rand spread betting.
Quick and simple answers to common Euro - South African Rand questions:
Q) Where can I Spread Bet on Euro - South African Rand?
Q) Where can I Trade for Free on Euro - South African Rand?
Q) How to Spread Bet on Euro - South African Rand?
Q) Where can I find Free Live Prices on Euro - South African Rand?
Q) Where can I find Free Euro - South African Rand Charts?
Q) Where can I find free Forex Trading News?
Q) Where can I find Narrow Forex Spreads?
Q) Where can I Trade Fixed-Odds Forex?
Advert:
Euro - South African Rand Spread Betting, sponsored by
FinancialSpreads.com.
You can spread bet on Euro - South African Rand with
Financial Spreads.
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Spread Betting Companies - Forex Spreads Comparison
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| GBP / USD Daily - Spread Size |
2 |
2 |
2 |
2 |
3 |
0.8 |
2 |
2 |
| GBP / USD Daily - Min Stake |
£1 |
£0.50 |
£0.50 |
£1 |
£0.5 |
£1 |
£1 |
£1 |
| GBP / USD Future - Spread Size |
8 |
8 |
12 |
8 |
8 |
- |
8 |
8 |
| GBP / USD Future - Min Stake |
£1 |
$0.60 |
£1 |
£1 |
£1 |
- |
£1 |
£1 |
| EUR / GBP Daily - Spread Size |
1 |
2 |
2 |
1 |
1 |
1 |
1 |
1 |
| EUR / GBP Daily - Min Stake |
£1 |
£0.50 |
£0.50 |
£1 |
£0.5 |
£1 |
£1 |
£1 |
| EUR / GBP Future - Spread Size |
6 |
8 |
10 |
6 |
6 |
- |
6 |
6 |
| EUR / GBP Future - Min Stake |
£1 |
$0.60 |
£1 |
£1 |
£0.5 |
- |
£1 |
£1 |
| EUR / USD Daily - Spread Size |
1 |
1 |
1 |
1 |
2 |
0.8 |
1 |
1 |
| EUR / USD Daily - Min Stake |
£1 |
£0.50 |
£0.50 |
£1 |
£0.5 |
£1 |
£1 |
£1 |
| EUR / USD Future - Spread Size |
8 |
8 |
12 |
8 |
8 |
3 |
8 |
8 |
| EUR / USD Future - Min Stake |
£1 |
$0.60 |
£1 |
£1 |
£1 |
£1 |
£1 |
£1 |
| USD / JPY Daily - Spread Size |
1 |
2 |
1 |
1 |
2 |
0.8 |
1 |
1 |
| USD / JPY Daily - Min Stake |
£1 |
£0.50 |
£0.50 |
£1 |
£0.5 |
£1 |
£1 |
£1 |
| USD / JPY Future - Spread Size |
8 |
8 |
12 |
8 |
10 |
- |
8 |
8 |
| USD / JPY Future - Min Stake |
£1 |
¥100 |
£1 |
£1 |
£0.5 |
- |
£1 |
£1 |
Comparison Notes
Where can I Spread Bet on Euro - South African Rand?
You can currently spread bet on Euro - South African Rand and other forex markets at:
Where can I Trade Euro - South African Rand for Free?
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 Euro - South African Rand 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 Euro - South African Rand, then you can you can always try:
Each of the above currently offers a free Demo Account.
How to Spread Bet on Forex - Euro - South African Rand Rolling Daily
As with most key markets, an investor can speculate on currency rates, such as Euro - South African Rand, to either rise or fall.
If you were to look at the InterTrader spread betting site, they are showing the Euro - South African Rand Rolling Daily market at R 9.5754 - R 9.6154. Therefore, an investor could spread bet on the Euro - South African Rand FX rate:
- Moving higher R 9.6154, or
- Moving lower than R 9.5754
When placing a spread bet on Euro - South African Rand you trade in £x per point where a point is R 0.0010 of the pairs movement. So, if you chose to have a stake of £2 per point and Euro - South African Rand moves R 0.0050 then that would be a difference to your profits (or losses) of £10. £2 per point x R 0.0050 = £2 per point x 5.0 points = £10.
Rolling Daily Forex Markets
One important thing to note is that this is a Rolling Daily Market and so there is no preset settlement date for this market. If you decide to leave your trade open at the end of the day, it simply keeps rolling over into the next day.
Should your bet roll over, if you are speculating that the market will:
- Go higher - then you are normally charged a small financing fee, or
- Go lower - then a small payment is normally credited to your account
For a more detailed breakdown of Rolling Daily Markets please read our article Rolling Daily Spread Betting.
Euro - South African Rand Rolling Daily Trading Example
So, if we consider the above spread of R 9.5754 - R 9.6154 and make the assumptions:
- you have done your research, and
- it leads you to feel that the Euro - South African Rand rate will move above R 9.6154
then you may decide that you are going to buy a spread bet at R 9.6154 for a stake of £1 per point.
So, you win £1 for every point (R 0.0010) that the Euro - South African Rand rate rises higher than R 9.6154. Of course, you will lose £1 for every point that the Euro - South African Rand market goes below R 9.6154.
Thinking of this in a slightly different way, if you were to ‘Buy’ a spread bet then your profit/loss is calculated by taking the difference between the settlement price of the market and the initial price you bought the market at. You then multiply that price difference by the stake.
With this in mind, if after a few trading sessions the foreign exchange rate rose then you might want to close your position and therefore guarantee your profits.
Taking this a step further, if the market did go up then the spread, determined by the spread betting company, might change to R 9.7308 - R 9.7708. In order to close your trade you would sell at R 9.7308. Therefore, with the same £1 stake your profit would be calculated as:
Profit = (Final Price - Initial Price) x stake
Profit = (R 9.7308 - R 9.6154) x £1 per point stake
Profit = R 0.1154 x £1 per point stake
Profit = 115.4 points x £1 per point stake
Profit = £115.40 profit
Trading forex, by spread trading or otherwise, is not always easy. In this case, you had bet that the forex rate would rise. Naturally, the currency rate could go down.
If the Euro - South African Rand market began to drop then you could choose to close your position in order to limit your losses.
Should the market pull back to R 9.4928 - R 9.5328 then this means you would close your trade by selling at R 9.4928. Therefore, you would make a loss of:
Loss = (Final Price - Initial Price) x stake
Loss = (R 9.4928 - R 9.6154) x £1 per point stake
Loss = R -0.1226 x £1 per point stake
Loss = -122.6 points x £1 per point stake
Loss = -£122.60 loss
Note - Euro - South African Rand Rolling Daily spread betting market quoted as of 08-Mar-11.
You can also spread bet on forex markets with Financial Spreads.
Where can I Find Free Live Prices on Euro - South African Rand?
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 Euro - South African Rand 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.
Where can I Trade Fixed-Odds Euro - South African Rand?
You can trade a range of Fixed-Odds foreign exchange markets like EUR/USD, GBP/USD, EUR/GBP, EUR/JPY, USD/CZK, GBP/NOK etc with BetOnMarkets.
Depending upon the market there are a number of trades available including: Flash Up/Down, 10 minute Intraday Doubles, 60 minute Intraday Doubles, Daily Doubles, Expiry/Boundary contracts.
For more on Fixed-Odds trading see: Financial Fixed Odds.
Advert:
Euro - South African Rand Spread Betting, sponsored by
FinancialSpreads.com.
You can spread bet on Euro - South African Rand with
Financial Spreads.
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Risk Warning: Spread betting carries a high level of risk to your capital. You may lose more than your initial investment. It 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 - South African Rand Spread Betting' by DB, updated 30-Apr-12
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