New Zealand Dollar - US Dollar Spread Betting
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Welcome to Clean Financial's guide to New Zealand Dollar - US Dollar spread betting.
Quick and simple answers to common New Zealand Dollar - US Dollar questions:
Q) Where can I Spread Bet on New Zealand Dollar - US Dollar?
Q) Where can I Trade for Free on New Zealand Dollar - US Dollar?
Q) How to Spread Bet on New Zealand Dollar - US Dollar?
Q) Where can I find Free Live Prices on New Zealand Dollar - US Dollar?
Q) Where can I find Free New Zealand Dollar - US Dollar 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:
New Zealand Dollar - US Dollar Spread Betting, sponsored by
FinancialSpreads.com.
You can spread bet on New Zealand Dollar - US Dollar 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 New Zealand Dollar - US Dollar?
You can currently spread bet on New Zealand Dollar - US Dollar and other forex markets at:
Where can I Trade New Zealand Dollar - US Dollar 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 New Zealand Dollar - US Dollar 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 New Zealand Dollar - US Dollar, then you can you can always try:
Each of the above currently offers a free Demo Account.
How to Spread Bet on Forex - New Zealand Dollar - US Dollar Rolling Daily
As with a variety of markets, investors can spread bet on forex rates, like New Zealand Dollar - US Dollar, to go up or down.
Looking at the FinancialSpreads spread betting site, they are currently giving the New Zealand Dollar - US Dollar Rolling Daily market at $0.74328 - $0.74368. As a result, an investor can spread trade on the New Zealand Dollar - US Dollar foreign exchange rate:
- Rising higher than $0.74368, or
- Falling lower than $0.74328
When financial spread betting on New Zealand Dollar - US Dollar you trade in £x per point where a point is $0.00010 of the pairs movement. Therefore, if you risked £6 per point and New Zealand Dollar - US Dollar moves $0.00050 then there would be a difference to your profit/loss of £30. £6 per point x $0.00050 = £6 per point x 5.0 points = £30.
Rolling Daily Forex Markets
One important thing to note is that this is a Rolling Daily Market and so there is no settlement date for this market. If your trade is still open at the end of the trading day, it will stay open and roll over into the next day.
If you do roll over a trade and you are spread betting that the market will:
- Go up - then you will usually be charged a small overnight financing fee, or
- Go down - then you will often receive a small payment to your account
For a fully worked example see Rolling Daily Spread Betting.
New Zealand Dollar - US Dollar Rolling Daily Spread Trading Example
Now, if we think about the above spread of $0.74328 - $0.74368 and make the assumptions that:
- you have analysed the currency markets, and
- you think that the New Zealand Dollar - US Dollar market will move higher than $0.74368
then you may choose to buy a spread bet at $0.74368 and risk, for example, £3 per point.
This means that you win £3 for every point ($0.00010) that the New Zealand Dollar - US Dollar currency rate rises above $0.74368. However, it also means that you will make a loss of £3 for every point that the New Zealand Dollar - US Dollar market falls lower than $0.74368.
Put another way, if you buy a spread bet then your P&L is found by taking the difference between the closing price of the market and the price you bought the spread at. You then multiply that price difference by the stake.
As a result, if after a few days the rate moved higher then you could consider closing your trade to secure your profit.
If that happened then the spread, determined by the spread betting company, could be adjusted to $0.74777 - $0.74817. You would close/settle your spread bet by selling at $0.74777. Accordingly, with the same £3 stake this trade would make you a profit of:
P&L = (Closing Level - Opening Level) x stake
P&L = ($0.74777 - $0.74368) x £3 per point stake
P&L = $0.00409 x £3 per point stake
P&L = 40.9 points x £3 per point stake
P&L = £122.70 profit
Trading FX, whether by spread betting or otherwise, is not simple. In the above example, you had bet that the forex rate would rise. Of course, the currency rate could fall.
If the New Zealand Dollar - US Dollar rate fell then you might choose to close your position in order to restrict your losses.
If the market fell to $0.73922 - $0.73962 then this means you would sell back your position at $0.73922. Therefore, you would make a loss of:
P&L = (Closing Level - Opening Level) x stake
P&L = ($0.73922 - $0.74368) x £3 per point stake
P&L = -$0.00446 x £3 per point stake
P&L = -44.6 points x £3 per point stake
P&L = -£133.80 loss
Note: New Zealand Dollar - US Dollar Rolling Daily spread quoted as of 02-Mar-11.
Where can I Find Free Live Prices on New Zealand Dollar - US Dollar?
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 New Zealand Dollar - US Dollar 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 New Zealand Dollar - US Dollar?
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:
New Zealand Dollar - US Dollar Spread Betting, sponsored by
FinancialSpreads.com.
You can spread bet on New Zealand Dollar - US Dollar 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.
'New Zealand Dollar - US Dollar Spread Betting' by DB, updated 16-May-12
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