Sterling - South African Rand Spread Betting
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Welcome to Clean Financial's guide to Sterling - South African Rand spread betting.
Quick and simple answers to common Sterling - South African Rand questions:
Q) Where can I Spread Bet on Sterling - South African Rand?
Q) Where can I Trade for Free on Sterling - South African Rand?
Q) How to Spread Bet on Sterling - South African Rand?
Q) Where can I find Free Live Prices on Sterling - South African Rand?
Q) Where can I find Free Sterling - South African Rand Charts?
Q) Where can I find free Forex Trading News?
Q) Where can I find Narrow Forex Spreads?
Q) Where can I Trade Fixed-Odds Forex?
Advert:
Sterling - South African Rand Spread Betting, sponsored by
FinancialSpreads.com.
You can spread bet on Sterling - South African Rand with
Financial Spreads.
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Spread Betting Companies - Forex Spreads Comparison
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| GBP / USD Daily - Spread Size |
2 |
2 |
2 |
2 |
3 |
0.8 |
2 |
2 |
| GBP / USD Daily - Min Stake |
£1 |
£0.50 |
£0.50 |
£1 |
£0.5 |
£1 |
£1 |
£1 |
| GBP / USD Future - Spread Size |
8 |
8 |
12 |
8 |
8 |
- |
8 |
8 |
| GBP / USD Future - Min Stake |
£1 |
$0.60 |
£1 |
£1 |
£1 |
- |
£1 |
£1 |
| EUR / GBP Daily - Spread Size |
1 |
2 |
2 |
1 |
1 |
1 |
1 |
1 |
| EUR / GBP Daily - Min Stake |
£1 |
£0.50 |
£0.50 |
£1 |
£0.5 |
£1 |
£1 |
£1 |
| EUR / GBP Future - Spread Size |
6 |
8 |
10 |
6 |
6 |
- |
6 |
6 |
| EUR / GBP Future - Min Stake |
£1 |
$0.60 |
£1 |
£1 |
£0.5 |
- |
£1 |
£1 |
| EUR / USD Daily - Spread Size |
1 |
1 |
1 |
1 |
2 |
0.8 |
1 |
1 |
| EUR / USD Daily - Min Stake |
£1 |
£0.50 |
£0.50 |
£1 |
£0.5 |
£1 |
£1 |
£1 |
| EUR / USD Future - Spread Size |
8 |
8 |
12 |
8 |
8 |
3 |
8 |
8 |
| EUR / USD Future - Min Stake |
£1 |
$0.60 |
£1 |
£1 |
£1 |
£1 |
£1 |
£1 |
| USD / JPY Daily - Spread Size |
1 |
2 |
1 |
1 |
2 |
0.8 |
1 |
1 |
| USD / JPY Daily - Min Stake |
£1 |
£0.50 |
£0.50 |
£1 |
£0.5 |
£1 |
£1 |
£1 |
| USD / JPY Future - Spread Size |
8 |
8 |
12 |
8 |
10 |
- |
8 |
8 |
| USD / JPY Future - Min Stake |
£1 |
¥100 |
£1 |
£1 |
£0.5 |
- |
£1 |
£1 |
Comparison Notes
Where can I Spread Bet on Sterling - South African Rand?
You can currently spread bet on Sterling - South African Rand and other forex markets at:
Where can I Trade Sterling - South African Rand for Free?
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 Sterling - South African Rand markets and other forex markets 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 forex markets like Sterling - South African Rand, then you can you can always try:
Each of the above currently offers a free Demo Account.
How to Spread Bet on Forex - Sterling - South African Rand Rolling Daily
As with a wide variety of markets, investors can speculate on FX pairs, such as Sterling - South African Rand, to either increase or decrease.
If you were to look at the Inter Trader spread betting website, they are currently valuing the Sterling - South African Rand Rolling Daily market at R 11.1408 - R 11.1808. As a result, you could spread trade on the Sterling - South African Rand rate:
- Moving above R 11.1808, or
- Moving below R 11.1408
When spread trading on Sterling - South African Rand you trade in £x per point where a point is R 0.0010 of the pairs movement. As a result, if you chose to risk £4 per point and Sterling - South African Rand moves R 0.0050 then that would be a difference to your bottom line of £20. £4 per point x R 0.0050 = £4 per point x 5.0 points = £20.
Rolling Daily Foreign Exchange Markets
You should note that this is a Rolling Daily Market which means that in contrast with futures markets, there is no settlement date. As a result, if your trade is still open at the end of the trading day, it will just roll over into the next day.
If you allow your position to roll over and are spread betting on the market to:
- Move higher - then you normally pay a small overnight financing fee, or
- Move lower - then a small payment will usually be credited to your account
For a more detailed guide to Rolling Daily Markets, including a fully worked example, please read our feature Rolling Daily Spread Betting.
Sterling - South African Rand Rolling Daily Spread Trading Example
So, if we think about the spread of R 11.1408 - R 11.1808 and assume:
- you have done your analysis of the currency markets, and
- you feel that the Sterling - South African Rand market will increase and go higher than R 11.1808
then you might buy a spread bet at R 11.1808 and invest £2 per point.
Therefore, you win £2 for every point (R 0.0010) that the Sterling - South African Rand forex rate pushes above R 11.1808. Having said that, it also means that you will make a loss of £2 for every point that the Sterling - South African Rand market goes below R 11.1808.
Put another way, if you were to buy a spread bet then your P&L is worked out by taking the difference between the final price of the market and the initial price you bought the spread at. You then multiply that difference in price by the stake.
Therefore, if after a few trading sessions the FX rate rose then you might want to close your spread bet and therefore lock in your profits.
Therefore, if the market moved up then the spread could change to R 11.2591 - R 11.2991. You would close your spread bet by selling at R 11.2591. As a result, with the same £2 stake you would make:
P&L = (Final Level - Initial Level) x stake
P&L = (R 11.2591 - R 11.1808) x £2 per point stake
P&L = R 0.0783 x £2 per point stake
P&L = 78.3 points x £2 per point stake
P&L = £156.60 profit
Financial spread betting on forex is not easy. With this example, you had bet that the forex pair would increase. Of course, the forex rate could decrease.
If the Sterling - South African Rand rate weakened, against your expectations, then you could close your position in order to restrict your losses.
Should the market drop to R 11.1081 - R 11.1481 then you would close your spread bet by selling at R 11.1081. That would mean you would lose:
P&L = (Final Level - Initial Level) x stake
P&L = (R 11.1081 - R 11.1808) x £2 per point stake
P&L = R -0.0727 x £2 per point stake
P&L = -72.7 points x £2 per point stake
P&L = -£145.40 loss
Note: Sterling - South African Rand Rolling Daily spread betting price quoted as of 08-Mar-11.
Where can I Find Free Live Prices on Sterling - South African Rand?
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.
There are also live prices available at:
Where can I Find Free Sterling - South African Rand Charts?
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.
Where can I Trade Fixed-Odds Sterling - South African Rand?
You can trade a range of Fixed-Odds foreign exchange markets like EUR/USD, GBP/USD, EUR/GBP, EUR/JPY, USD/CZK, GBP/NOK etc with BetOnMarkets.
Depending upon the market there are a number of trades available including: Flash Up/Down, 10 minute Intraday Doubles, 60 minute Intraday Doubles, Daily Doubles, Expiry/Boundary contracts.
For more on Fixed-Odds trading see: Financial Fixed Odds.
Advert:
Sterling - South African Rand Spread Betting, sponsored by
FinancialSpreads.com.
You can spread bet on Sterling - South African Rand with
Financial Spreads.
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Risk Warning: Spread betting carries a high level of risk to your capital. 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.
'Sterling - South African Rand Spread Betting' by DB, updated 24-May-12
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