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 S&P and other Indices commission free and with no brokers fees at:
Free Demo Account
If you're looking for a free Practice Account / Test Account where you can trial spread betting, including Indices markets like S&P, then you can you can always try:
Each of the above currently offers a free demo account.
How to Financial Spread Bet on the S&P?
As with many financial markets, you can spread bet the future value of Indices, like the S&P, going up or down.
At the time of writing the S&P 500 (March) market is 1558.7 - 1559.5 with Financial Spreads. This market expires on 21-Mar-08.
Therefore you can spread bet on the S&P settling:
Above 1559.5 on 21-Mar-08, or
Below 1558.7 on 21-Mar-08
Note that for S&P 500 spread bets, you trade in £x per tick, where a tick is 0.1 point of S&P movement. For example if your stake was £10 per tick and the S&P moves 0.6 points then that would be a £60 difference to your profits.
0.6 points = 6 ticks. £10 per tick x 6 ticks = £60
S&P Spread Betting Example
Let’s say, taking the above spread of 1558.7 - 1559.5, that you have done your market analysis and you think that the S&P looks like it will finish above 1559.5 by 21-Mar-08.
Therefore you buy at 1559.5 for a stake of, let’s say, £5 per tick.
If by the closing date the Index settles at 1561.3.
Then your profit and loss is calculated by taking the difference between the closing value ie 1561.3 and the price you bought at, ie 1559.5 and then multiplying that by the stake per tick of movement.
Profits = ((1561.3 - 1559.5) / 0.1) x £5 per tick stake.
= (1.8 / 0.1) x £5 per tick stake.
= (18 ticks) x £5 per tick stake.
= £90 profit.
Trading doesn't always go to plan. Had the S&P gone against you and finished a lower value at 1556.6, then you would have lost on this spread trade.
Loss = ((1556.6 - 1559.5) / 0.1) x £5 per tick stake.
= (-2.9 / 0.1) x £5 per tick stake.
= (-29 ticks) x £5 per tick stake.
= -£145 loss.
Where can I Find Free Live Prices on the S&P?
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.
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.
About the S&P
The S&P 500 defines the broader US equities market. An index tracking the performance of the top 500 US companies.
S&P indices have over US$ 1.53 trillion in indexed assets. The history of the S&P 500 dates back to 1923. It expanded to 500 companies in 1957.
Index constituent's characteristics:
Market Coverage: approximately 75% of the US equities market
Weighting: Market capitalisation
Market Capitalization: minimum of US$ 5bn
Public Float: at least 50%
Reconstitution: as needed basis
Index Governance and Policy
This index is maintained by the S&P Index Committee which includes Standard & Poor's economists and index analysts.
For more details visit the official Standard and Poor's Website: standardandpoors.com
'S&P Spread Betting' by DB, updated 24-Oct-07
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Q) Average Trading Results?
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Risk Warning: Spread betting carries a high level of risk to your capital and 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.
* Tax law is subject to change or may differ if you pay tax in a jurisdiction other than the UK.
