Provident Spread Betting
Where Can I Spread Bet on Provident? |
Currently, you are able to financial spread bet on Provident Financial by trading with a number of providers:
Advert:
Provident Spread Betting, sponsored by FinancialSpreads.com.
You can spread bet on Provident with
Financial Spreads.
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| Broker Ratings - Sponsored by IG |
The following table takes the last 3 broker ratings/recommendations and gives a quick overview of the average target share price and creates an average broker rating for Provident:
| 23-May-13 |  | Neutral | Based on last 3 Ratings | 1545 | 1534 | -0.73% |
A look at the latest Provident broker ratings:
| 23-May-13 | | Hold | Numis Securities | 1545 | 1601 | 3.62% | | 13-May-13 | | Hold | Canaccord Genuity | 1534 | 1400 | -8.70% | | 27-Feb-13 |  | Outperform | RBC Capital Markets | 1458 | 1600 | 9.70% |
For the latest UK broker ratings see Daily Trading Tips.
The above list of Trading Tips / Broker Ratings is not an exhaustive list of broker recommendations. The above content does not constitute investment advice. All reasonable efforts have been made to present accurate information. Neither CleanFinancial.com nor any contributing company or individual accepts any responsibility for any use that may be made of the above or for the correctness or accuracy of the information provided.
For the sake of clarity, where a broker reiterates a rating with an identical target price within two weeks of the preceding rating, the older identical rating will normally be removed.
Advert:
Provident Spread Betting, sponsored by FinancialSpreads.com.
You can spread bet on Provident with
Financial Spreads.
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Where Can I Spread Bet on Provident for Free? |
Trading always includes an element of risk, but if you would like to try a completely free Demo Account, which lets you try financial spread betting on a host of markets, then see below.
When looking at which trading option is right for you, also remember that spread betting, in the UK, is currently free of capital gains tax, stamp duty and income tax*.
If you want to try a free spread trading website then keep in mind that investors can spread bet on Provident without paying any commissions or brokers' fees through providers such as:
If you'd like to open a completely free Demo Account / Test Account that lets you get a better feel for spread betting, and markets like the DAX 30, EUR/GBP and Provident, then consider:
Each of these companies currently provide a free Demo Account that allows users to use charts, gain experience with a range of orders and test new trading strategies.
How to Spread Bet on Provident? |
Should an investor decide to speculate on UK companies like Provident Financial then one solution is to spread trade on the Provident share price.
Looking at a financial spread betting website like Capital Spreads, you can see that they are valuing the Provident Rolling Daily market at 1375.2p - 1379.8p. As a result, an investor could spread bet on the Provident shares:
 Rising above 1379.8p, or
 Falling below 1375.2p
Whilst spread betting on UK equities you trade in £x per penny. Therefore, if you decide to have a stake of £3 per penny and the Provident share price changes by 22p then that would alter your bottom line by £66. £3 per penny x 22p = £66.
Rolling Daily Shares Markets
An important aspect of this Rolling Daily Market is that there is no predetermined settlement date for this market. If your position is still open at the end of the day, it will roll over to the next session.
If a trade is rolled over and you are speculating on the market to:
Go higher - then you are usually charged a small overnight financing fee, or
Go lower - then you'll often receive a small payment to your account
For more information see Rolling Daily Spread Betting.
Provident Rolling Daily - Equities Trading Example |
Now, if we think about the above spread of 1375.2p - 1379.8p and make the assumptions that:
- You have completed your research, and
- Your analysis suggests that the Provident share price looks like it will push higher than 1379.8p
Then you could decide that you want to buy a spread bet at 1379.8p and invest, let’s say, £3 per penny.
With such a spread bet you make a profit of £3 for every penny that the Provident shares go above 1379.8p. On the other hand, you will lose £3 for every penny that the Provident market moves lower than 1379.8p.
Put another way, if you were to ‘Buy’ a spread bet then your profits (or losses) are found by taking the difference between the closing price of the market and the price you bought the spread at. You then multiply that difference in price by your stake.
As a result, if after a few trading sessions the stock started to move upwards then you could choose to close your position and therefore lock in your profits.
If that happened then the spread, determined by the spread betting firm, could change to 1426.7p - 1431.3p. In order to close your spread bet you would sell at 1426.7p. So, with the same £3 stake you would calculate your profit as:
Your P&L = (Closing Price - Opening Price) x stake
Your P&L = (1426.7p - 1379.8p) x £3 per penny stake
Your P&L = 46.9p x £3 per penny stake
Your P&L = £140.70 profit
Spread betting can work against you. In this case, you had bet that the share price would rise. However, it could decrease.
If the Provident shares weakened, against your expectations, then you could choose to close your position to stop any further losses.
Should the spread fall back to 1338.4p - 1343.0p then you would close your spread bet by selling at 1338.4p. That would mean you would make a loss of:
Your P&L = (Closing Price - Opening Price) x stake
Your P&L = (1338.4p - 1379.8p) x £3 per penny stake
Your P&L = -41.4p x £3 per penny stake
Your P&L = -£124.20 loss
Note - Provident Rolling Daily spread accurate as of 31-Oct-12.
Where Can I Find Live Spread Betting Prices and Charts for Provident? |
Should you want to look at live charts and the current prices for Provident Financial, you will probably need a financial spread betting account. Readers should note that all such accounts are subject to credit, status and suitability checks.
Should your new account be accepted then you can log in to look at the up-to-the-minute prices/charts. These are normally free. The catch is that you're likely to get the occasional newsletter and/or call from the spread betting firm.
Of course, if you do decide to trade then, before starting, be aware that spread trading does carry a high level of risk and can result in losses that exceed your initial investment.
Although the specific charting packages differ between firms, to help your trading, most charts come with useful tools and features such as:
- Many different time periods - 5 minutes, 2 hours, 1 month etc.
- A variety of chart views - candle charts and OHLC charts
- Drawing tools - Fibonacci Fans, Time Zones and Arcs
The charts from FinancialSpreads also offer more advanced aspects:
- Custom Indicators, Back Testing and Optimisation functions
- Numerous overlays - Moving Averages, Ichimoku Clouds, Chande Kroll Stop etc.
- Over 30 indicator charts - Range Indicator, MACD, CCI etc.
- Automatic email notifications for when the markets reach a pre-set price
Example Financial Spreads chart
The financial spread betting companies in the list below give their users access to live trading prices and charts:
Advert:
Provident Spread Betting, sponsored by FinancialSpreads.com.
You can spread bet on Provident with
Financial Spreads.
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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.
'Provident Spread Betting' by DB, updated 23-May-13
For related pages also see:
Spread Betting on FTSE 250 Companies, updated 23-May-13
Spread Betting on FTSE 250 shares: Individual guides to FTSE 250 companies with broker ratings. Plus where to get live charts and prices for FTSE 250 companies, worked spread betting examples and...read article: Spread Betting on FTSE 250 Companies.
Kazakhmys Spread Betting, updated 23-May-13
Kazakhmys spread betting guide with live Kazakhmys share prices and charts. Plus, broker recommendations on Kazakhmys, where to spread bet on Kazakhmys shares tax-free* and commission-free, how to spread bet on the Kazakhmys share price and...read article: Kazakhmys Spread Betting.
Pennon Group Spread Betting, updated 23-May-13
Pennon Group spread betting guide with live Pennon share prices and charts. Plus, broker recommendations on Pennon, where to spread bet on Pennon shares tax-free* and commission-free, how to spread bet on the Pennon share price and...read article: Pennon Group Spread Betting.
Debenhams Spread Betting, updated 22-Apr-13
Debenhams spread betting guide: live Debenhams charts and prices. Plus, broker ratings on Debenhams shares, where to spread bet on Debenhams shares commission-free and tax-free*, how to spread bet on Debenhams and...read article: Debenhams Spread Betting.
Dixons Spread Betting, updated 16-May-13
Dixons spread betting guide: live Dixons charts and prices. Plus, broker ratings on Dixons shares, where to spread bet on Dixons shares commission-free and tax-free*, how to spread bet on Dixons and...read article: Dixons Spread Betting.
Home Retail Group Spread Betting, updated 02-May-13
Home Retail Group spread betting guide: live Home Retail charts and prices. Plus, broker ratings on Home Retail shares, where to spread bet on Home Retail shares commission-free and tax-free*, how to spread bet on Home Retail and...read article: Home Retail Group Spread Betting.
Halfords Spread Betting, updated 23-May-13
Halfords spread betting guide: live Halfords charts and prices. Plus, broker ratings on Halfords shares, where to spread bet on Halfords shares commission-free and tax-free*, how to spread bet on Halfords and...read article: Halfords Spread Betting.
ICAP Spread Betting, updated 14-May-13
ICAP spread betting guide: live ICAP charts and prices. Plus, broker ratings on ICAP shares, where to spread bet on ICAP shares commission-free and tax-free*, how to spread bet on ICAP and...read article: ICAP Spread Betting.
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