NZD/CAD Spread Betting
Where Can I Spread Bet on NZD/CAD? |
You can spread bet with no brokers' fees or commissions on NZD/CAD by opening an account with the following spread betting providers:
Advert:
NZD/CAD Spread Betting, sponsored by FinancialSpreads.com.
You can spread bet on NZD/CAD with
Financial Spreads.
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Where Can I Spread Bet on NZD/CAD for Free? |
Investing, by its very nature, always includes a degree of risk, however, if you'd like to open a Practice Account (free), where you can try out financial spread betting on a host of markets, see below for further details.
When considering which investment option might work for you, also remember that spread betting, in the UK, is tax free*, i.e. it is exempt from income tax, stamp duty and capital gains tax.
If you're trying to find a free financial spread betting site, note that you can speculate on NZD/CAD with no brokers' fees, and zero commissions, via:
If you would like to open a virtual money Test Account / Demo Account that allows users to try financial spread betting, including trading markets like the DAX 30, gold, EUR/USD and NZD/CAD, then you can always look at:
All of the above spread trading companies offer a Test Account that allows investors to practice with trading orders, test new strategies and review professional charts, including line and candlestick charts.
Where Can I Find Live Spread Betting Prices and Charts for NZD/CAD? |
The following CFDs chart and prices will provide you with a helpful guide to the NZD/CAD market.
The above chart is provided by Plus500 and is usually based on the NZD/CAD futures contract.
If you'd like to look at real time spread betting charts and prices for NZD/CAD, an option is to use a spread trading account.
Also, a spreads account would let you speculate on the short term daily prices. Readers should note that opening such an account is normally dependent on suitability, credit and status checks.
Should your new account be approved, you will be able to log on and check the charts and live prices. On most platforms, these are provided as part of the service. The catch? You could receive the occasional letter or sales call from the spread betting firm.
If you do decide to trade then you should remember that contracts for difference and spread trading involve a significant level of risk and it's possible to incur losses that exceed your initial investment.
Advanced Charts for NZD/CAD |
Though the specific charting packages tend to vary between providers, to aid your trading analysis, the majority of charts come with handy tools, including:
- Many different intervals - 15 minutes, 1 hour, 1 week etc.
- A variety of chart types - line, candlestick and bar charts
- Drawing features and options - trendlines, Fibonacci arcs, time zones and fans
- Chart overlays and technical indicators - Bollinger Bands, Momentum, Average Directional Index etc.
The charts on Tradefair also have other benefits, including:
- BackTesting
- Email notifications for when the markets reach a particular level
Sample forex candlestick chart
The following spread betting companies give account holders real-time trading prices and charts:
How to Spread Bet on NZD/CAD? |
As with a variety of financial markets, investors can spread bet on currency pairs, like NZD/CAD, to go up or down.
Looking at a spread betting platform like InterTrader, we can see they have priced the NZD/CAD Rolling Daily market at C$0.79489 - C$0.79569. As a result, you can put a spread bet on the NZD/CAD rate:
 Going higher than C$0.79569, or
 Going lower than C$0.79489
When financial spread betting on NZD/CAD you trade in £x per point where a point is C$0.00010 of the pairs movement. As a result, if you invest £3 per point and NZD/CAD moves 21.0 points then that would be a difference to your profits (or losses) of £63. £3 per point x C$0.00210 = £3 per point x 21.0 points = £63.
Rolling Daily FX 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. If your trade is still open at the end of the trading day, it will roll over to the next session.
If you do roll over a forex position then you'll often be 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.
NZD/CAD Rolling Daily - Foreign Exchange Spread Trading Example |
So, if you consider the spread of C$0.79489 - C$0.79569 and assume:
- You have done your analysis of the FX markets, and
- Your analysis leads you to think the NZD/CAD rate will increase and move higher than C$0.79569
Then you could decide to buy at C$0.79569 and risk, for example, £3 per point.
So, you make a profit of £3 for every point (C$0.00010) that the NZD/CAD pair increases above C$0.79569. Conversely, however, it also means that you will lose £3 for every point that the NZD/CAD market goes below C$0.79569.
Put another way, if you buy a spread bet then your profits (or losses) are calculated by taking the difference between the final price of the market and the initial price you bought the market at. You then multiply that price difference by the stake.
As a result, if after a few sessions the forex rate rose then you might want to close your spread bet in order to guarantee your profit.
Taking this a step further, if the market did go up then the spread, determined by the spread betting company, could be adjusted to C$0.79919 - C$0.79999. To settle/close your trade you would sell at C$0.79919. Therefore, with the same £3 stake you would make:
Profit = (Closing Price - Opening Price) x stake
Profit = (C$0.79919 - C$0.79569) x £3 per point stake
Profit = C$0.00350 x £3 per point stake
Profit = 35.0 points x £3 per point stake
Profit = £105.00 profit
Trading FX, whether by spread betting or not, doesn't always work out as you would have liked. With this example, you wanted the forex pair to rise. Naturally, it could go down.
If the NZD/CAD market weakened, against your expectations, then you could choose to close your spread bet in order to restrict your losses.
Should the market fall back to C$0.79171 - C$0.79251 then you would settle your trade by selling at C$0.79171. That would mean you would make a loss of:
Loss = (Closing Price - Opening Price) x stake
Loss = (C$0.79171 - C$0.79569) x £3 per point stake
Loss = -C$0.00398 x £3 per point stake
Loss = -39.8 points x £3 per point stake
Loss = -£119.40 loss
Note - NZD/CAD Rolling Daily currency market quoted as of 11-Sep-12.
Advert:
NZD/CAD Spread Betting, sponsored by FinancialSpreads.com.
You can spread bet on NZD/CAD 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.
'NZD/CAD Spread Betting' by DB, updated 14-Jun-13
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