Platinum Spread Betting
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Welcome to Clean Financial's guide to Platinum spread betting.
Quick and simple answers to common Platinum questions:
Q) Where can I Spread Bet on Platinum?
Q) Where can I Trade for Free on Platinum?
Q) How to Spread Bet on Platinum?
Q) Where can I find Free Live Prices on Platinum?
Q) Where can I find Free Platinum Charts?
Advert:
Platinum Spread Betting, sponsored by
FinancialSpreads.com.
You can spread bet on Platinum with
Financial Spreads.
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Where can I Spread Bet on Platinum?
You can spread bet on Platinum and a range of other commodities at:
Where can I Trade for Free on Platinum?
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 Platinum and other commodities commission free and with no brokers fees at:
Free Demo Account
If you're looking for a free Demo Account / Test Account where you can trial spread betting, including commodities such as like Platinum, then you can you can always try:
Each of the above currently offers a free demo account.
How to Spread Bet on Platinum?
As with many markets, you can spread bet on the value of precious metals, like Platinum, increasing or decreasing in value.
At the time of publication the Platinum (January) market is $1,468.0 - $1,471.0 with FinancialSpreads.com. This market expires on 28-Dec-07.
Therefore you can spread trade on Platinum settling:
- Above $1,471.0, or
- Below $1,468.0
By the expiry date of 28-Dec-07.
With the Platinum market, you trade in £x per tick, where a tick is $0.1 of Platinum price movement. Eg if your stake was £6 per tick and Platinum moves $0.7 (7 ticks) then that would be a £42 difference to your profits (£6 per tick x 7 ticks = £42).
Platinum Spread Betting Example
Taking the above spread of $1,468.0 - $1,471.0, let’s say you like the price and think that Platinum will finish above $1,471.0 by 28-Dec-07.
Therefore you buy at $1,471.0 for a stake of £3 per tick.
If by the closing date the price settles at $1,476.2, then:
Your profit is calculated by taking the difference between the closing level, ie $1,476.2 and the price you made the spread bet at, ie $1,471.0 and then multiplying that by the stake per tick.
Profit = (($1,476.2 - $1,471.0) / $0.1) x £3 per tick stake.
Profit = ($5.2 / $0.1) x £3 per tick stake.
Profit = £156 profit.
Nevertheless if the market didn't work out as expected and had Platinum gone against you and finished lower at $1,464.4, then you would have lost on this spread trade.
Loss = (($1,464.4 - $1,471.0) / 0.1) x £3 per tick stake.
Loss = (-$6.6 / $0.1) x £3 per tick stake.
Loss = -£198 loss.
Where can I Find Free Live Prices on Platinum?
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 Platinum 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.
Advert:
Platinum Spread Betting, sponsored by
FinancialSpreads.com.
You can spread bet on Platinum with
Financial Spreads.
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Note: Spread betting example prices quoted: 08-Nov-07.
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.
'Platinum Spread Betting' by DB, updated 01-May-12
For related pages also see:
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A) Get free spread betting tips, offers, price updates, important news and more!
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