GBP/CAD Spread Betting

The CleanFinancial guide to GBP/CAD spread betting.

• Where Can I Spread Bet on GBP/CAD?
• Live GBP/CAD Charts
• Live GBP/CAD Prices
• GBP/CAD Trading News and Analysis
• Where Can I Trade GBP/CAD for Free?
• Where Can I Practice Trading GBP/CAD?
• How to Spread Bet on GBP/CAD?
• Forex Spread Betting Guide

Live GBP/CAD Chart & Prices

The contracts for difference chart below provides you with a guide to the GBP/CAD pair.


The above chart, provided by Plus 500, normally follows the GBP/CAD futures price.

If you would like to analyse financial spread betting charts/prices for GBP/CAD, you will generally need a spread trading account.

You can also use a spreads account to trade the shorter term spot markets. Please note that opening any such account is subject to credit, status and suitability checks.

If your application is approved then, once logged in, you will be able to view the live charts and the current prices. Usually, these will be free. So what’s the catch? You will probably get an occasional letter or sales call from your spread betting broker.

Of course, if you do decide to trade, remember that financial spread betting and CFD trading involve a high degree of risk and you can incur losses that exceed your initial investment.

Where Can I Spread Bet on GBP/CAD?

You can currently spread bet on GBP/CAD, as well as a broad range of similar spread trading markets, through companies such as:

• City Index
• Financial Spreads
• IG
• InterTrader
• Spreadex

GBP/CAD Market Analysis and Trading News

» More forex trading views and analysis.

Where Can I Trade GBP/CAD for Free?

Speculating on the markets always comes with risk, however, if you’d like to open an entirely free Practice Account, where you can trial spread betting, please see below.

When considering which investment option is right for you, also remember that financial spread betting in the UK is tax free*, i.e. there is no capital gains tax, stamp duty or income tax.

If you’re trying to find a free spread trading platform then you should note that you are able to speculate on GBP/CAD without paying any commissions with providers like:

• City Index
• Financial Spreads
• IG Index
• Inter Trader
• Spreadex

Free Demo Account

If you want to open a completely free Demo Account where users can get to grips with financial spread betting, including markets like the Dow Jones, USD/JPY, EUR/GBP and GBP/CAD, then you could take a look at:

• Financial Spreads
• Inter Trader

The above spread betting companies offer a free Demo Account that allows investors to try out new trading theories, apply orders and check charts.

How to Spread Bet on GBP/CAD?

As with a wide variety of financial markets, you are able to place a spread bet on currency pairs, like GBP/CAD, to rise or fall.

Logging into InterTrader, you can see they are offering the GBP/CAD Rolling Daily market at C$1.56216 – C$1.56316. Therefore, an investor could put a spread bet on the GBP/CAD pair:

  Moving higher than C$1.56316, or
  Moving lower than C$1.56216

When financial spread betting on GBP/CAD you trade in £x per point where a point is C$0.00010 of the pairs movement. As a result, if you risked £3 per point and GBP/CAD moves 39.0 points then that would change your profit/loss by £117. £3 per point x C$0.00390 = £3 per point x 39.0 points = £117.

Rolling Daily FX Markets

One thing to note is that this is a Rolling Daily Market which means that there is no preset settlement date for this market. If your position is still open at the end of the day, it will simply roll over to the next session.

Should your forex bet roll over then you are normally charged a small financing fee. You can find more on Rolling Daily Markets, as well as a fully worked example, in our feature Rolling Daily Spread Betting.

GBP/CAD Trading Example 1

If we think about the spread of C$1.56216 – C$1.56316 and make the assumptions that:

• You’ve analysed the markets, and
• Your research leads you to feel the GBP/CAD market will move higher than C$1.56316

Then you might choose to buy at C$1.56316 and risk, for example, £2 per point.

With such a bet you make a profit of £2 for every point (C$0.00010) that the GBP/CAD rate moves above C$1.56316. Of course, such a bet also means that you will make a loss of £2 for every point that the GBP/CAD market goes below C$1.56316.

Looked at another way, should you buy a spread bet then your profits (or losses) are found by taking the difference between the settlement price of the market and the price you bought the spread at. You then multiply that price difference by the stake.

With this in mind, if after a few trading sessions the rate started to increase then you might think about closing your trade so that you can secure your profit.

If that happened then the spread might move to C$1.56941 – C$1.57041. In order to close your trade you would sell at C$1.56941. Therefore, with the same £2 stake you would make a profit of:

Profit / loss = (Final Level – Initial Level) x stake
Profit / loss = (C$1.56941 – C$1.56316) x £2 per point stake
Profit / loss = C$0.00625 x £2 per point stake
Profit / loss = 62.5 points x £2 per point stake
Profit / loss = £125.00 profit

Financial spread trading is not straightforward. In this example, you wanted the forex pair to increase. Naturally, it might go down.

If the GBP/CAD rate decreased, contrary to your expectations, then you might choose to close your trade to stop any further losses.

Should the spread drop to C$1.55613 – C$1.55713 then you would sell back your position at C$1.55613. Accordingly, your loss would be:

Profit / loss = (Final Level – Initial Level) x stake
Profit / loss = (C$1.55613 – C$1.56316) x £2 per point stake
Profit / loss = -C$0.00703 x £2 per point stake
Profit / loss = -70.3 points x £2 per point stake
Profit / loss = -£140.60 loss

Note – GBP/CAD Rolling Daily currency market quoted as of 11-Sep-12.

How to Spread Bet on Sterling – Canadian Dollar – Example 2

Looking at a spread trading platform like Tradefair, we can see that they are currently valuing the Sterling – Canadian Dollar Rolling Daily market at C$1.58404 – C$1.58504. Therefore, you could spread bet on the Sterling – Canadian Dollar rate:

  Going above C$1.58504, or
  Going below C$1.58404

When spread trading on Sterling – Canadian Dollar you trade in £x per point where a point is C$0.00010 of the pairs movement. As a result, should you choose to invest £4 per point and Sterling – Canadian Dollar moves 35.0 points then that would change your bottom line by £140. £4 per point x C$0.00350 = £4 per point x 35.0 points = £140.

So, if you continue with the spread of C$1.58404 – C$1.58504 and assume that:

• You have completed your forex market analysis, and
• Your research suggests that the Sterling – Canadian Dollar rate will go higher than C$1.58504

Then you may decide that you want to go long of the market at C$1.58504 and invest £4 per point.

So, you make a profit of £4 for every point (C$0.00010) that the Sterling – Canadian Dollar pair rises above C$1.58504. Nevertheless, such a bet also means that you will lose £4 for every point that the Sterling – Canadian Dollar market moves below C$1.58504.

Looked at another way, if you buy a spread bet then your P&L is calculated by taking the difference between the settlement price of the market and the price you bought the spread at. You then multiply that difference in price by the stake.

Therefore, if after a few hours the forex rate rose then you might consider closing your trade to secure your profit.

So if the market rose then the spread, determined by the spread betting firm, could change to C$1.58824 – C$1.58924. To close your trade you would sell at C$1.58824. As a result, with the same £4 stake you would make a profit of:

P&L = (Closing Value – Initial Value) x stake
P&L = (C$1.58824 – C$1.58504) x £4 per point stake
P&L = C$0.00320 x £4 per point stake
P&L = 32.0 points x £4 per point stake
P&L = £128.00 profit

Trading currencies, whether by spread betting or not, doesn’t always go to plan. In the above example, you had bet that the forex rate would go up. Of course, the currency rate could decrease.

If the Sterling – Canadian Dollar market dropped then you could close your trade to limit your losses.

If the market fell to C$1.58139 – C$1.58239 then you would settle/close your trade by selling at C$1.58139. That would mean you would lose:

P&L = (Closing Value – Initial Value) x stake
P&L = (C$1.58139 – C$1.58504) x £4 per point stake
P&L = -C$0.00365 x £4 per point stake
P&L = -36.5 points x £4 per point stake
P&L = -£146.00 loss

Note – Sterling – Canadian Dollar Rolling Daily market quoted as of 18-Sep-12.