SGD/JPY Spread Betting
Where Can I Spread Bet on SGD/JPY? |
You can currently speculate on SGD/JPY by opening an account with a number of providers:
Advert:
SGD/JPY Spread Betting, sponsored by FinancialSpreads.com.
You can spread bet on SGD/JPY with
Financial Spreads.
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Where Can I Spread Bet on SGD/JPY for Free? |
Investing in the financial markets is never risk free, however, if you'd like to open a completely free Demo Account, which lets you trial spread trading, see below for further details.
When thinking about which trading option is right for you, don't forget that spread trading in the UK is currently tax free*, i.e. it is exempt from stamp duty, income tax and capital gains tax.
If you are looking for a free trading site then keep in mind that you can speculate on SGD/JPY without commissions or brokers' fees with companies like:
If you're interested in a free Test Account / Demo Account in order to try financial spread betting, including trading markets like SGD/JPY, then look into:
Each of the above spread trading companies currently provide a risk free Test Account which lets users practice with trading orders, study charts and try out trading ideas.
How to Spread Bet on SGD/JPY? |
As with most key markets, you are able to spread bet on FX pairs, like SGD/JPY, to either increase or decrease.
Looking at a site like Tradefair, we can see they are showing the SGD/JPY Rolling Daily market at ¥63.268 - ¥63.348. This means an investor can spread bet on the SGD/JPY FX pair:
 Moving above ¥63.348, or
 Moving below ¥63.268
Whilst financial spread trading on SGD/JPY you trade in £x per point where a point is ¥0.010 of the pairs movement. As a result, if you chose to risk £5 per point and SGD/JPY moves 27.0 points then that would be a difference to your profit/loss of £135. £5 per point x ¥0.270 = £5 per point x 27.0 points = £135.
Rolling Daily Foreign Exchange Markets
One important thing to note is that this is a Rolling Daily Market and so unlike a normal spread betting futures market, there is no settlement date. If your trade is open at the end of the day, it will simply roll over to the next trading day.
If a forex position is rolled over then you will often be charged a small financing fee. For a worked example please see Rolling Daily Spread Betting.
SGD/JPY Rolling Daily - Forex Spread Trading Example |
If we consider the spread of ¥63.268 - ¥63.348 and make the assumptions that:
- You have completed your research, and
- It leads you to feel that the SGD/JPY rate will rise above ¥63.348
Then you may go long of the market at ¥63.348 and risk, for the sake of argument, £2 per point.
This means that you win £2 for every point (¥0.010) that the SGD/JPY forex pair increases higher than ¥63.348. Conversely, however, it also means that you will lose £2 for every point that the SGD/JPY market decreases below ¥63.348.
Thinking of this in a slightly different way, if you were to ‘Buy’ a spread bet then your profits (or losses) are worked out by taking the difference between the closing price of the market and the price you bought the market at. You then multiply that difference in price by the stake.
Therefore, if after a few hours the rate started to increase then you might want to close your spread bet so that you can guarantee your profit.
Taking this a step further, if the market rose then the spread, set by the spread trading company, might change to ¥63.886 - ¥63.966. To settle/close your trade you would sell at ¥63.886. As a result, with the same £2 stake:
Profits (or losses) = (Closing Price - Opening Price) x stake
Profits (or losses) = (¥63.886 - ¥63.348) x £2 per point stake
Profits (or losses) = ¥0.538 x £2 per point stake
Profits (or losses) = 53.8 points x £2 per point stake
Profits (or losses) = £107.60 profit
Spread betting on forex is not easy. In this example, you wanted the FX pair to increase. Naturally, the currency rate could fall.
If the SGD/JPY market fell then you might choose to close your trade to stop any further losses.
If the spread dropped to ¥62.746 - ¥62.826 then this means you would close your position by selling at ¥62.746. If so, this would result in a loss of:
Profits (or losses) = (Closing Price - Opening Price) x stake
Profits (or losses) = (¥62.746 - ¥63.348) x £2 per point stake
Profits (or losses) = -¥0.602 x £2 per point stake
Profits (or losses) = -60.2 points x £2 per point stake
Profits (or losses) = -£120.40 loss
Note: SGD/JPY Rolling Daily spread betting market correct as of 11-Sep-12.
Where Can I Find Live Spread Betting Prices and Charts for SGD/JPY? |
If you'd like to study live prices/charts for SGD/JPY, you generally require a spread trading account. Users should note that all spreads accounts are normally dependent on credit, suitability and status checks.
If your account application is approved then, when you log in, you will be able to view the up-to-the-minute prices and charts. On most platforms, these will be free. Having said that, you're likely to get the odd sales email or letter from the relevant spread betting company.
Of course, if you were to trade, be aware that financial spread betting does involve a high level of risk to your funds and losses can exceed your initial investment.
Whilst charts tend to differ across the industry, in order to help your analysis, they usually come with valuable tools such as:
- A range of time periods, for example, 5 minutes, 15 minutes, 2 hours etc.
- A variety of display styles, for example, bar and candlestick charts
- Drawing features and options, for example, Fibonacci fans, arcs and time zones
- Indicators and overlays, for example, Bollinger Bands, Relative Strength Index, % Price Oscillator etc.
Charts on Tradefair also have:
- BackTesting, Analysis and Optimisation tools
- Automatic email alerts that trigger when the markets hit a specific level
Sample currency market trading chart
The spread betting companies in the following list give their account holders access to real time trading prices/charts:
Advert:
SGD/JPY Spread Betting, sponsored by FinancialSpreads.com.
You can spread bet on SGD/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.
'SGD/JPY Spread Betting' by DB, updated 14-Jun-13
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