GBP/NZD Spread Betting
Where Can I Spread Bet on GBP/NZD? |
You can take a view on GBP/NZD, and a host of related financial markets, through firms such as:
Advert:
GBP/NZD Spread Betting, sponsored by FinancialSpreads.com.
You can spread bet on GBP/NZD with
Financial Spreads.
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Where Can I Spread Bet on GBP/NZD for Free? |
Speculating on the markets isn't without risk, however, if you would like to try a (free) Practice Account, where you can trial spread trading on a variety of markets, please see below.
Also, don't forget that spread betting, in the UK, is currently exempt from tax*.
If you're trying to find a low cost financial spread betting site then you should keep in mind that you are able to speculate on GBP/NZD without having to pay any commissions or brokers' fees through firms such as:
Should you want a virtual money Demo Account where you can get a feel for spread betting, including trading markets like GBP/NZD, then you could always look into:
All of the above firms offer a risk free Test Account which lets users apply a variety of orders, test ideas and check charts, including bar and candlestick charts.
Where Can I Find Live Spread Betting Prices and Charts for GBP/NZD? |
The following CFDs chart and prices will give readers a handy guide to the GBP/NZD FX market.
The Plus 500 chart above normally uses the GBP/NZD futures contract.
If you'd like to analyse live financial spread betting prices and charts for GBP/NZD, you will need to apply for a financial spread betting account.
A spreads account would also give you access to spot prices. Note: Opening an account is subject to suitability, status and credit checks.
If your application is approved then, when you log in, you will be able to view the up-to-the-minute trading charts/prices. Usually, these will be free, however, you will probably get an occasional letter or sales call from the relevant financial spread betting provider.
Of course, if you were to trade then, before starting, be aware that financial spread betting and CFD trading involve a high level of risk to your capital and you can incur losses that exceed your initial deposit.
Advanced Charting Packages for GBP/NZD |
Despite the fact that charts tend to vary across the industry, to aid your trading analysis, the charts often come with features such as:
- A large range of intervals such as 2 minutes, 15 minutes, 2 hours etc.
- A variety of chart views such as line charts and candle charts
- Drawing tools and options such as Fibonacci Time Zones, Fans and Arcs
- Overlays and indicators such as Moving Average, Parabolic SAR, True Strength Index etc.
The charts provided by Inter Trader also come with other benefits such as:
- Back Testing functions
- Automated alerts for when your chosen market reaches a specific price
Sample forex chart
The following spread trading firms give clients access to real time trading charts/prices:
How to Spread Bet on GBP/NZD? |
As with most key markets, it is possible to place a spread bet on currency pairs, like GBP/NZD, to rise or fall.
Looking at a spread trading website like InterTrader, you can see that they are showing the GBP/NZD Rolling Daily market at NZ$1.96406 - NZ$1.96546. This means you could spread bet on the GBP/NZD rate:
 Rising above NZ$1.96546, or
 Falling below NZ$1.96406
Whilst making a spread bet on GBP/NZD you trade in £x per point where a point is NZ$0.00010 of the pairs movement. Therefore, if you choose to have a stake of £3 per point and GBP/NZD moves 39.0 points then that would change your bottom line by £117. £3 per point x NZ$0.00390 = £3 per point x 39.0 points = £117.
Rolling Daily Foreign Exchange Markets
It is important to note that this is a Rolling Daily Market and so there is no settlement date for this market. If you leave your position open at the end of the day, it will stay open and roll over into the next day.
If your forex bet is rolled over then you will normally be charged a small financing fee. Our article Rolling Daily Spread Betting goes into more detail about Rolling Daily Markets and includes a fully worked example.
GBP/NZD Rolling Daily - FX Trading Example |
If you consider the spread of NZ$1.96406 - NZ$1.96546 and assume that:
- You've completed your analysis of the markets, and
- Your research leads you to feel that the GBP/NZD market will increase and go higher than NZ$1.96546
Then you may choose to buy at NZ$1.96546 for a stake of, for the sake of argument, £2 per point.
So, you gain £2 for every point (NZ$0.00010) that the GBP/NZD pair pushes above NZ$1.96546. Nevertheless, such a bet also means that you will make a loss of £2 for every point that the GBP/NZD market goes lower than NZ$1.96546.
Thinking of this in a slightly different way, if you buy a spread bet then your profit/loss is worked out by taking the difference between the final price of the market and the initial price you bought the market at. You then multiply that difference in price by your stake.
If after a few trading sessions the foreign exchange rate started to increase then you might think about closing your position in order to guarantee your profit.
Taking this a step further, if the market did go up then the spread might move to NZ$1.97381 - NZ$1.97521. To close your trade you would sell at NZ$1.97381. Accordingly, with the same £2 stake you would make a profit of:
Profit = (Closing Price - Initial Price) x stake
Profit = (NZ$1.97381 - NZ$1.96546) x £2 per point stake
Profit = NZ$0.00835 x £2 per point stake
Profit = 83.5 points x £2 per point stake
Profit = £167.00 profit
Speculating on FX, whether by spread trading or otherwise, won’t always go to plan. In this example, you had bet that the currency pair would go up. Of course, the forex rate could fall.
If the GBP/NZD rate fell then you might choose to close your position to stop any further losses.
So if the market pulled back to NZ$1.95779 - NZ$1.95919 then you would settle/close your trade by selling at NZ$1.95779. This would result in a loss of:
Loss = (Closing Price - Initial Price) x stake
Loss = (NZ$1.95779 - NZ$1.96546) x £2 per point stake
Loss = -NZ$0.00767 x £2 per point stake
Loss = -76.7 points x £2 per point stake
Loss = -£153.40 loss
Note: GBP/NZD Rolling Daily forex market taken as of 11-Sep-12.
Advert:
GBP/NZD Spread Betting, sponsored by FinancialSpreads.com.
You can spread bet on GBP/NZD 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.
'GBP/NZD Spread Betting' by DB, updated 16-May-13
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