Platinum Spread Betting
Where Can I Spread Bet on Platinum?
Investors can currently take a view on Platinum by opening an account with a number of spread betting firms:
Where Can I Spread Bet on Platinum for Free?
Speculating on the financial markets always includes a degree of risk. Having said that, if you want to try a free Test Account, that lets you try spread trading, then see below for further details.
When deciding which trading option might work for you, also remember that spread betting, in the UK, is tax free*.
If you're interested in a low cost spread betting website, you should keep in mind that you are able to trade Platinum with no commissions or brokers' fees via companies like:
||[3:55pm] Platinum prices have surged on the news that some mines in South Africa could close, which has raised concerns of a supply shortfall.
Update by Michael Hewson, Senior Market Analyst,
» For more see Commodities Trading News & Analysis.
This content is for information purposes only and is not intended as a recommendation to trade. Nothing on this website should be construed as investment advice.
Unless stated otherwise, the above time is based on when we receive the data (London time). All reasonable efforts have been made to present accurate information. The above is not meant to form an exhaustive guide. Neither CleanFinancial.com nor any contributing company/author accept any responsibility for any use that may be made of the above or for the correctness or accuracy of the information provided.
Where Can I Find Live Spread Betting Prices and Charts for Platinum?
The real-time CFDs chart and prices below provides you with a handy guide to the Platinum market.
The above Plus500 chart usually shows the Platinum futures market.
If you would like to study spread betting charts and prices for Platinum, you will normally require a financial spread betting account.
Please note that opening such an account is subject to suitability, credit and status checks.
Should your account application be approved then you can log on to analyse the charts and the current prices. On most platforms, these will be provided for free, however, the catch is that you'll probably get the odd newsletter or sales call from your chosen spread betting firm.
Of course, if you do decide to trade then, before starting, you should note that financial spread trading and CFD trading carry a high degree of risk to your capital and can result in losses that exceed your initial deposit.
Professional Charting Packages for Platinum
Whilst charting software/packages normally vary between firms, to aid your analysis, most charts usually have valuable tools and features, including:
Charts on FinancialSpreads.com also include advanced features like:
- A wide range of time periods, for example, 1 minute, 1 hour, 4 hours etc
- Different views, for example, bar, line and candlestick charts
- Tools for drawing features, for example, Fibonacci Fans, Time Zones and Arcs
- Chart overlays and indicators, for example, Bollinger Bands, Parabolic SAR etc
Example commodity candlestick chart
- Customised email alerts that trigger when your chosen market reaches a pre-determined price
The companies listed below offer their users live prices/charts:
Should you want to have a look at a free Demo Account / Test Account that lets users try out financial spread betting, and trading markets such as the DAX 30, crude oil and Platinum, then have a look at:
Each of the above companies currently offer a free Demo Account which lets investors look at charts, apply a variety of orders and test new strategies.
How to Spread Bet on Platinum?
As with many global markets, investors can speculate on commodities futures, like Platinum, to go up or down.
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 bet on Platinum settling:
Above $1,471.0, or
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.
E.g. 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, letís 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) x £3 per tick stake
Profit = $5.2 x £3 per $0.1 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) x £3 per tick stake
Loss = -$6.6 x £3 per $0.1 stake
Loss = -£198 loss
Note: Spread betting example prices quoted: 08-Nov-07. Please note that Financial Spreads offer a range of commodities but they no longer offer platinum.
Financial Spreads » "With FinancialSpreads.com you get all the advantages of
Spread Betting as well as commission free CFD Trading on 2,500+ markets, 24 hour trading, professional level charts and..." read
Financial Spreads review.
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.
'Platinum Spread Betting' by DB, updated 08-May-13
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