GBP / JPY Spread Betting
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Welcome to Clean Financial's guide to GBP / JPY spread betting.
Quick and simple answers to common GBP / JPY questions:
Q) Where can I Spread Bet on GBP / JPY?
Q) Where can I Trade for Free on GBP / JPY?
Q) How to Spread Bet on GBP / JPY?
Q) Where can I find Free Live Prices on GBP / JPY?
Q) Where can I find Free GBP / JPY 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:
GBP / JPY Spread Betting, sponsored by
FinancialSpreads.com.
You can spread bet on GBP / JPY 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 |
3 |
0.8 |
2 |
3 |
2 |
| GBP / USD Daily - Min Stake |
£1 |
£0.50 |
£1 |
£0.5 |
£1 |
£1 |
£1 |
£1 |
| GBP / USD Future - Spread Size |
8 |
12 |
8 |
8 |
- |
8 |
16 |
8 |
| GBP / USD Future - Min Stake |
£1 |
£1 |
£1 |
£1 |
- |
£1 |
£1 |
£1 |
| EUR / GBP Daily - Spread Size |
1 |
2 |
1 |
1 |
1 |
1 |
2 |
1 |
| EUR / GBP Daily - Min Stake |
£1 |
£0.50 |
£1 |
£0.5 |
£1 |
£1 |
£1 |
£1 |
| EUR / GBP Future - Spread Size |
6 |
10 |
6 |
6 |
- |
6 |
17 |
6 |
| EUR / GBP Future - Min Stake |
£1 |
£1 |
£1 |
£0.5 |
- |
£1 |
£1 |
£1 |
| EUR / USD Daily - Spread Size |
1 |
1 |
1 |
2 |
0.8 |
1 |
2 |
1 |
| EUR / USD Daily - Min Stake |
£1 |
£0.50 |
£1 |
£0.5 |
£1 |
£1 |
£1 |
£1 |
| EUR / USD Future - Spread Size |
8 |
12 |
8 |
8 |
3 |
8 |
12 |
8 |
| EUR / USD Future - Min Stake |
£1 |
£1 |
£1 |
£1 |
£1 |
£1 |
£1 |
£1 |
| USD / JPY Daily - Spread Size |
1 |
1 |
1 |
2 |
0.8 |
1 |
2 |
1 |
| USD / JPY Daily - Min Stake |
£1 |
£0.50 |
£1 |
£0.5 |
£1 |
£1 |
£1 |
£1 |
| USD / JPY Future - Spread Size |
8 |
12 |
8 |
10 |
- |
8 |
14 |
8 |
| USD / JPY Future - Min Stake |
£1 |
£1 |
£1 |
£0.5 |
- |
£1 |
£1 |
£1 |
Comparison Notes
Where can I Spread Bet on GBP / JPY?
You can currently spread bet on GBP / JPY and other forex markets at:
Where can I Trade GBP / JPY 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 GBP / 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 GBP / JPY, then you can you can always try:
Each of the above currently offers a free Demo Account.
How to Spread Bet on Forex - GBP/JPY Rolling Daily
As with a wide variety of markets, investors can speculate on currency pairs, like GBP/JPY, to either increase or decrease.
Looking at the Tradefair website, they are giving the GBP/JPY Rolling Daily market at ¥133.920 - ¥134.000. This means you could spread bet on the GBP/JPY foreign exchange rate:
- Moving higher ¥134.000, or
- Moving lower than ¥133.920
When spread betting on GBP/JPY you trade in £x per point where a point is ¥0.010 of the pairs movement. So, if you decided to invest £2 per point and GBP/JPY moves ¥0.050 then that would alter your profits (or losses) by £10. £2 per point x ¥0.050 = £2 per point x 5.0 points = £10.
Rolling Daily Foreign Exchange Markets
It is important to note that this is a Rolling Daily Market and so in contrast with futures markets, there is no closing date. Should your trade be left open at the end of the trading day, it simply keeps rolling over into the next trading session.
If you do roll over a position and you are spread betting that the market will:
- Move higher - then you will usually be charged a small overnight financing fee, or
- Move lower - then a small payment will usually be credited to your account
To find out more about Rolling Daily Markets read our feature Rolling Daily Spread Betting.
GBP/JPY Rolling Daily Trading Example
Now, if we consider the spread of ¥133.920 - ¥134.000 and assume:
- you have analysed the FX markets, and
- it leads you to feel that the GBP/JPY rate will increase and move higher than ¥134.000
then you may decide to buy at ¥134.000 for a stake of, for the sake of argument, £1 per point.
Therefore, you win £1 for every point (¥0.010) that the GBP/JPY currency rate rises above ¥134.000. Of course, it also means that you will make a loss of £1 for every point that the GBP/JPY market goes below ¥134.000.
Looked at another way, if you were to ‘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 market at. You then multiply that price difference by your stake.
As a result, if the forex rate rose then you might consider closing your trade in order to lock in your profit.
If that happened then the spread, determined by the spread betting firm, could change to ¥134.938 - ¥135.018. To close your position you would sell at ¥134.938. So, with the same £1 stake you would make:
Profit = (Closing Level - Opening Level) x stake
Profit = (¥134.938 - ¥134.000) x £1 per point stake
Profit = ¥0.938 x £1 per point stake
Profit = 93.8 points x £1 per point stake
Profit = £93.80 profit
Trading FX doesn't always go to plan. With the above, you wanted the forex rate to rise. Of course, the currency rate could go down.
If the GBP/JPY market began to fall then you might decide to settle/close your position to stop any further losses.
Should the spread drop to ¥133.196 - ¥133.276 then you would close your trade by selling at ¥133.196. So your loss would be calculated as:
Loss = (Closing Level - Opening Level) x stake
Loss = (¥133.196 - ¥134.000) x £1 per point stake
Loss = ¥ 0.804 x £1 per point stake
Loss = -80.4 points x £1 per point stake
Loss = -£80.40 loss
Note: GBP/JPY Rolling Daily spread betting market correct as of 07-Mar-11.
Where can I Find Free Live Prices on GBP / 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 GBP / 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.
Where can I Trade Fixed-Odds GBP / JPY?
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:
GBP / JPY Spread Betting, sponsored by
FinancialSpreads.com.
You can spread bet on GBP / JPY 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.
'GBP / JPY Spread Betting' by DB, updated 12-Jan-12
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