New Zealand Dollar - US Dollar Spread Betting
Where Can I Spread Bet on New Zealand Dollar - US Dollar? |
You can spread bet without paying any brokers' fees on New Zealand Dollar - US Dollar with an account from these firms:
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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Where Can I Spread Bet on New Zealand Dollar - US Dollar for Free? |
Trading is not without its risks, but if you want to try a completely free Test Account, where you can try out financial spread betting on a variety of markets, please see below for further details.
Also, don't forget that, in the UK, spread trading is exempt from income tax, capital gains tax and stamp duty*.
If you're looking for a free online trading platform then you should keep in mind that you are able to speculate on New Zealand Dollar - US Dollar without having to pay any commissions or brokers' fees with companies such as:
If you are looking for a Practice Account where users can try spread betting, including markets like EUR/USD, the Dow Jones, crude oil and New Zealand Dollar - US Dollar, then look at:
Each of the above companies offer a Test Account that allows investors to use charts, try out trading strategies and apply a range of orders.
Where Can I Find Live Spread Betting Prices and Charts for New Zealand Dollar - US Dollar? |
This CFD trading chart will give you a helpful view of the New Zealand Dollar - US Dollar rate.
The chart above is provided by Plus 500 and usually follows the underlying New Zealand Dollar - US Dollar futures contract.
If you'd like to look at spread betting charts and prices for New Zealand Dollar - US Dollar, you may need a spread betting account.
Also, a spreads account would let you speculate on shorter-term daily markets. Note: Opening such an account is normally dependent on credit, status and suitability checks.
Should your new account be approved then, once logged in, you will be able to access the prices and live charts. These are usually provided as part of the service. The catch is that you might receive an occasional sales letter or call from your chosen spread betting broker.
If you do trade then, before starting, be aware that CFDs and financial spread trading do carry a high level of risk to your capital and it's possible to lose more than your initial investment.
Technical Charting Packages for New Zealand Dollar - US Dollar |
Even though charts differ from firm to firm, in order to aid your technical analysis, they generally come with valuable features and tools, including:
- A number of different time periods, for example, 1 minute, 15 minutes, 2 hours etc
- Various views, for example, OHLC charts and candlestick charts
- Drawing tools, for example, Trendlines, Fibonacci Arcs, Fans and Time Zones
The charts offered by Capital Spreads also have more advanced aspects:
- Customisable Indicators and BackTesting
- Important chart overlays, for example, Parabolic SAR, Bollinger Bands, Envelopes etc
- A choice of secondary charts, for example, MACD, Chaikin's Volatility, Volume Index etc
- Custom alerts for when the markets reach a pre-determined price
Example FinancialSpreads.com forex trading chart
The spread trading brokers in the list below provide their account holders with real-time prices/charts:
How to Spread Bet on New Zealand Dollar - US Dollar? |
As with many markets, you are able to spread bet on FX pairs, like New Zealand Dollar - US Dollar, to either increase or decrease.
Looking at a spread trading site like Capital Spreads, we can see they have put the New Zealand Dollar - US Dollar Rolling Daily market at $0.82820 - $0.82840. As a result, an investor could spread trade on the New Zealand Dollar - US Dollar pair:
 Moving above $0.82840, or
 Moving below $0.82820
When making a spread bet on New Zealand Dollar - US Dollar you trade in £x per point where a point is $0.00010 of the pairs movement. So, if you staked £2 per point and New Zealand Dollar - US Dollar moves 33.0 points then that would change your P&L by £66. £2 per point x $0.00330 = £2 per point x 33.0 points = £66.
Rolling Daily Foreign Exchange Markets
It's important to note that this is a Rolling Daily Market and so there is no preset closing 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 allow your FX position to roll over then you are normally charged a small financing fee. For a more detailed example see Rolling Daily Spread Betting.
New Zealand Dollar - US Dollar Rolling Daily - Forex Spread Trading Example |
Now, if you continue with the spread of $0.82820 - $0.82840 and make the assumptions that:
- You've completed your FX market analysis, and
- Your analysis leads you to feel that the New Zealand Dollar - US Dollar rate will go higher than $0.82840
Then you could choose to buy at $0.82840 and invest £2 per point.
Therefore, you make a profit of £2 for every point ($0.00010) that the New Zealand Dollar - US Dollar rate rises above $0.82840. Nevertheless, it also means that you will lose £2 for every point that the New Zealand Dollar - US Dollar market moves lower than $0.82840.
Looked at another way, should you ‘Buy’ a spread bet then your profits (or losses) are found 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.
Therefore, if after a few days the forex rate moved higher then you might want to close your spread bet in order to guarantee your profit.
If that happened then the spread could change to $0.83461 - $0.83481. In order to close your trade you would sell at $0.83461. Accordingly, with the same £2 stake you would make:
Profit / loss = (Closing Price - Initial Price) x stake
Profit / loss = ($0.83461 - $0.82840) x £2 per point stake
Profit / loss = $0.00621 x £2 per point stake
Profit / loss = 62.1 points x £2 per point stake
Profit / loss = £124.20 profit
Speculating on forex, by spread betting or otherwise, may not go to plan. In the above example, you wanted the forex pair to increase. Naturally, it could fall.
If the New Zealand Dollar - US Dollar market weakened, against your expectations, then you could close your spread bet in order to limit your losses.
Should the market pull back to $0.82302 - $0.82322 then this means you would close your spread bet by selling at $0.82302. This would result in a loss of:
Profit / loss = (Closing Price - Initial Price) x stake
Profit / loss = ($0.82302 - $0.82840) x £2 per point stake
Profit / loss = -$0.00538 x £2 per point stake
Profit / loss = -53.8 points x £2 per point stake
Profit / loss = -£107.60 loss
Note: New Zealand Dollar - US Dollar Rolling Daily market taken as of 18-Sep-12.
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.
|
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.
'New Zealand Dollar - US Dollar Spread Betting' by DB, updated 16-May-13
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