NZD/JPY Spread Betting
Where Can I Spread Bet on NZD/JPY? |
Investors are able to take a view on NZD/JPY by opening an account with any of these spread betting providers:
Advert:
NZD/JPY Spread Betting, sponsored by FinancialSpreads.com.
You can spread bet on NZD/JPY with
Financial Spreads.
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Where Can I Spread Bet on NZD/JPY for Free? |
Investing in the financial markets is not without risk. Having said that, if you would like to open an entirely free Test Account, that allows you to try spread betting on a wide range of markets, then please see below for more details.
When looking at which trading option might work for you, don't forget that spread trading in the UK is currently tax free*, i.e. there is no income tax, stamp duty or capital gains tax.
If you're trying to find a free spread betting platform then you should note that investors are able to take a position on NZD/JPY with no brokers' fees or commissions with firms such as:
If you want to have a look at a free Demo Account that allows you to try spread betting, including markets like the DAX 30, gold, GBP/USD and NZD/JPY, then you could always take a look at:
The spread betting companies listed above offer a risk free Demo Account which lets users apply trading orders, study charts and try out trading strategies.
Where Can I Find Live Spread Betting Prices and Charts for NZD/JPY? |
The live CFD trading chart and prices below provides users with a useful insight into the NZD/JPY pair.
The above chart, provided by Plus 500, normally follows the NZD/JPY futures price (not the spot price).
To analyse real-time spread betting prices and charts for NZD/JPY, you will normally require a spread betting account.
Also, a spreads account would let you access shorter term spot prices. Users should note that opening any such account is normally dependent on suitability, credit and status checks.
Should your new account be accepted, you will be able to log in and review the charts and live prices. On most platforms, these are provided as part of the service. So what's the catch? You could receive the occasional email and/or sales call from your chosen online spread betting provider.
Of course, if you want to trade, remember that financial spread trading and CFD trading do involve a significant level of risk and it is possible to incur losses that exceed your initial deposit.
Advanced Charting Packages for NZD/JPY |
Whilst charts can differ from firm to firm, to help you with your trading analysis, the majority of charts usually come with handy features, including:
- An array of intervals, for example, 5 minutes, 30 minutes, 2 hours and so on
- Various chart views, for example, candlestick charts and bar charts
- Drawing tools, for example, Trendlines, Fibonacci Fans, Arcs and Time Zones
- Indicators and chart overlays, for example, MACD, Parabolic SAR, % Price Oscillator and so on
Charts on Tradefair Spreads also offer advanced features such as:
- Back Testing and Optimisation tools
- Custom email alerts for when the markets hit a particular level
FinancialSpreads.com currency market candle chart
The financial spread betting brokers in the list below let their clients have access to live trading prices and charts:
How to Spread Bet on NZD/JPY? |
As with many global financial markets, it is possible to speculate on currency pairs, like NZD/JPY, to either increase or decrease.
Looking at a spread trading website like FinancialSpreads.com, we can see they are pricing the NZD/JPY Rolling Daily market at ¥63.612 - ¥63.672. This means you can spread bet on the NZD/JPY pair:
 Increasing higher than ¥63.672, or
 Decreasing lower than ¥63.612
When spread trading on NZD/JPY you trade in £x per point where a point is ¥0.010 of the pairs movement. So, if you choose to risk £4 per point and NZD/JPY moves 22.0 points then there would be a difference to your bottom line of £88. £4 per point x ¥0.220 = £4 per point x 22.0 points = £88.
Rolling Daily Forex Markets
Note that this is a Rolling Daily Market and therefore there is no settlement date for this market. If you leave your position open at the end of the day, it will simply roll over to the next trading day.
Should your FX bet roll over then you will usually be charged a small overnight financing fee. To learn more please read Rolling Daily Spread Betting.
NZD/JPY Rolling Daily - FX Spread Betting Example |
So, if you continue with the above spread of ¥63.612 - ¥63.672 and make the assumptions that:
- You have completed your FX market research, and
- Your research leads you to think the NZD/JPY market will go higher than ¥63.672
Then you might decide to go long of the market at ¥63.672 and risk, for the sake of argument, £2 per point.
With such a bet you win £2 for every point (¥0.010) that the NZD/JPY rate increases above ¥63.672. On the other hand, you will make a loss of £2 for every point that the NZD/JPY market decreases below ¥63.672.
Thinking of this in a slightly different way, if you were to ‘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 the stake.
Therefore, if after a few trading sessions the foreign exchange rate started to rise you might decide to close your trade so that you can lock in your profit.
So if the market rose then the spread, set by the spread betting company, could change to ¥64.213 - ¥64.273. You would settle your position by selling at ¥64.213. So, with the same £2 stake your profit would be calculated as:
Profit = (Closing Level - Opening Level) x stake
Profit = (¥64.213 - ¥63.672) x £2 per point stake
Profit = ¥0.541 x £2 per point stake
Profit = 54.1 points x £2 per point stake
Profit = £108.20 profit
Trading FX, whether by spread trading or otherwise, is not always easy. In the above example, you had bet that the forex pair would rise. Of course, it can also fall.
If the NZD/JPY rate weakened, against your expectations, then you could choose to close your position in order to restrict your losses.
So if the market dropped to ¥63.067 - ¥63.127 then you would settle/close your trade by selling at ¥63.067. This would result in a loss of:
Loss = (Closing Level - Opening Level) x stake
Loss = (¥63.067 - ¥63.672) x £2 per point stake
Loss = -¥0.605 x £2 per point stake
Loss = -60.5 points x £2 per point stake
Loss = -£121.00 loss
Note - NZD/JPY Rolling Daily currency market taken as of 11-Sep-12.
Advert:
NZD/JPY Spread Betting, sponsored by FinancialSpreads.com.
You can spread bet on NZD/JPY 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/JPY Spread Betting' by DB, updated 14-Jun-13
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