Sterling-Dollar Spread Betting
Indicative Sterling-Dollar prices:
Click on the tabs for key stock market indices, forex and equities markets.
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Above, indicative prices from Financial Spreads: 2,500+ live prices available to Spread Betting and CFD clients.
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Where Can I Spread Bet on Sterling-Dollar? |
You can currently spread bet on the Sterling-Dollar market, as well as a range of related FX markets, at:
Advert:
Sterling-Dollar Spread Betting, sponsored by FinancialSpreads.com.
You can spread bet on Sterling-Dollar with
Financial Spreads.
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Where Can I Spread Bet on Sterling-Dollar for Free? |
Investing is never risk free, however, if you want to open a Test Account, where you can try spread betting and check candlestick charts, then see Free Demo Account below.
When considering which trading option might work for you, also remember that in the UK, spread trading is tax free*.
If you are looking for a low cost forex platform then you should keep in mind that investors can speculate on Sterling-Dollar without paying commissions or brokers' fees with firms like:
If you would like to open a completely free Test Account / Demo Account that allows users to try spread betting, and markets like Sterling-Dollar, then take a closer look at:
The spread betting firms listed above currently provide a risk free Test Account. The free 'Demo Account' lets investors review charts, practice trading, test new trading theories and apply trading orders.
Where Can I Find Live Spread Betting Prices and Charts for Sterling-Dollar? |
We do show users a range of daily forex spread betting prices - see above.
The real-time futures chart below also gives readers a useful look at the Sterling-Dollar market.
The above CFD chart from Plus500 normally shows the Sterling-Dollar futures contract.
If you want to analyse real-time spread betting prices and charts for Sterling-Dollar, you may need a spread betting account.
A spreads account will also give you access to the popular short-term daily prices. Users should note that such accounts are normally subject to status and suitability checks.
Should your new account be approved then, once logged in, you will be able to see the real-time trading prices and charts. Usually, these are provided as part of the service.
Of course, if you were to trade then remember that financial spread trading and CFDs involve a significant level of risk and can result in losses that exceed your initial deposit.
Professional Sterling-Dollar Charts |
Although the charting packages can vary between providers, to help your Sterling-Dollar analysis, they often have handy features such as:
- A variety of time periods - 1 minute, 2 minutes, 30 minutes, 1 hour, 1 day etc
- Different display styles - bar, line and candlestick charts
- Drawing options - Fibonacci Arcs, Time Zones and Fans
The charts from FinancialSpreads.com also have more advanced aspects such as:
- Custom Indicators, Back Testing and Analysis tools
- Custom alerts when a market reaches a particular price
- Key overlays - Ichimoku Cloud, EMA, Price Channels, Chande Kroll Stop etc
- More than 30 indicator charts - Chaikin Volatility, Money Flow, ADX, TSI, RSI, Linear Regression etc
Example Sterling-Dollar chart from FinancialSpreads.com
The following online spread betting brokers give their clients access to real-time prices and charts:
How to Spread Bet on Sterling-Dollar? |
As with many global markets, you can place a spread bet on FX pairs, like Sterling-Dollar, to either increase or decrease.
Looking at a platform like Financial Spreads, we can see they are currently offering the Sterling-Dollar Rolling Daily market at $1.62545 - $1.62565. Therefore, an investor could put a spread bet on the Sterling-Dollar currency rate:
 Moving higher than $1.62565, or
 Moving lower than $1.62545
When spread betting on Sterling-Dollar you trade in £x per point where a point is $0.00010 of the pairs movement. Therefore, if your stake was £6 per point and Sterling-Dollar moves 21.0 points then that would be a difference to your profit/loss of £126. £6 per point x $0.00210 = £6 per point x 21.0 points = £126.
Rolling Daily Forex Markets
Be aware that this is a Rolling Daily Market and so there is no settlement date for this market. If you leave your trade open at the end of the day, it will just roll over into the next day.
If your FX trade is rolled over then you'll often be charged a small financing fee. For more information on Rolling Daily Markets, and a fully worked example, please see Rolling Daily Spread Betting.
Sterling-Dollar Rolling Daily - FX Trading Example |
If we take the above spread of $1.62545 - $1.62565 and assume:
- You have analysed the markets, and
- You feel that the Sterling-Dollar rate will move higher than $1.62565
Then you may decide to buy at $1.62565 and trade, for the sake of argument, £4 per point.
With this trade you make a profit of £4 for every point ($0.00010) that the Sterling-Dollar rate rises above $1.62565. However, it also means that you will lose £4 for every point that the Sterling-Dollar market drops below $1.62565.
Looked at another way, should you buy a spread bet then your P&L is found by taking the difference between the closing price of the market and the price you bought the spread at. You then multiply that price difference by the stake.
Therefore, if after a few hours the currency rate rose then you might consider closing your position in order to secure your profit.
If the underlying market moved up then the spread might change to $1.62947 - $1.62967. You would close your trade by selling at $1.62947. So, with the same £4 stake your profit would be calculated as:
P&L = (Closing Price - Initial Price) x stake
P&L = ($1.62947 - $1.62565) x £4 per point stake
P&L = $0.00382 x £4 per point stake
P&L = 38.2 points x £4 per point stake
P&L = £152.80 profit
The Pound Sterling - US Dollar market is volatile and trading it is never easy. In this example, you wanted the currency pair to rise. Of course, the FX rate might decrease.
If the Pound Sterling - US Dollar market dropped then you might decide to close your trade to cap your losses.
So if the market fell to $1.62227 - $1.62247 you would close your position by selling at $1.62227. This would result in a loss of:
P&L = (Closing Price - Initial Price) x stake
P&L = ($1.62227 - $1.62565) x £4 per point stake
P&L = -$0.00338 x £4 per point stake
P&L = -33.8 points x £4 per point stake
P&L = -£135.20 loss
Note - Sterling-Dollar Rolling Daily forex market accurate as of 18-Sep-12.
Advert:
Sterling-Dollar Spread Betting, sponsored by FinancialSpreads.com.
You can spread bet on Sterling-Dollar 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.
'Sterling-Dollar Spread Betting' by DB, updated 14-Jun-13
For related pages also see:
FX Spread Betting, updated 29-May-13
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