There are a good number of spreads firms that offer thousands of international markets including the leading indices like the FTSE 100, Dow and DAX as well as forex, commodities and individual shares.
Some companies, like FinancialSpreads.com, provide the usual benefits of tax free* trading with zero commissions and trading on markets to go up or down two way. They also offer trading on a number of the key indices 24 hours a day, 5 days a week. For more information see 24 hour spread trading.
Stock Market Trading has several important advantages over more traditional investment options:
Spread trading is tax free*, that is to say, you don’t pay capital gains tax, income tax or stamp duty on your trades.
With spread trading, you deal directly with a spread trading firm. This means that trades are typically commission free and there are no broker’s fees. This can help to keep your trading costs down. Although beware that if you are trading ‘rolling daily markets’ and you decide to keep your position open overnight then there is often a small charge (see below).
A spread trading account offers a lot of freedom and choice. You can typically speculate on huge range of financial markets, not just indices. There are commodities, like gold, crude oil and coffee as well as currencies, shares, interest rates and even bonds.
With spread trading, you are simply speculating on the future price of a given market. This means that you can speculate on a stock market index to go down as well as up. This is in contrast with traditional investment formats which often only allow investors to profit on rising markets.
Index Spread Trading Example
As with many of the world's financial markets, an investor can place a spread bet on indices, like the Dow Jones, to go up or down.
Looking at a financial spread betting platform like Capitalspreads, you can see that they are showing the Dow Jones Rolling Daily market at 13866.0 - 13867.0. As a result, an investor can spread trade on the Dow Jones market:
Rising above 13867.0, or
Falling below 13866.0
Whilst financial spread betting on the Dow Jones index you trade in £x per point. Therefore, if you decided to risk £2 per point and the Dow Jones moves 32 points then that would alter your bottom line by £64. £2 per point x 32 points = £64.
Rolling Daily Index Markets
One thing to note is that this is a Rolling Daily Market which means that there is no closing date for this market. Therefore, if you decide not to close your trade by the end of the day, it will just roll over into the next trading session.
If a position is rolled over and you are spread betting on the market to:
Rise - then you will pay a small overnight financing fee, or
Fall - then you will often receive a small payment to your account
Dow Jones Rolling Daily - Indices Spread Trading Example
If you consider the above spread of 13866.0 - 13867.0 and assume that:
You've completed your market research, and
Your analysis suggests the Dow Jones index will move above 13867.0
Then you may decide that you are going to buy at 13867.0 for a stake of, let’s say, £3 per point.
So, you gain £3 for every point that the Dow Jones index pushes higher than 13867.0. Conversely, however, you will make a loss of £3 for every point that the Dow Jones market goes lower than 13867.0.
Put another way, if you ‘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 market at. You then multiply that price difference by the stake.
As a result, if after a few hours the stock market started to rise you might decide to close your spread bet to lock in your profit.
So if the market moved up then the spread might move to 13905.1 - 13906.1. You would settle/close your trade by selling at 13905.1. As a result, with the same £3 stake your profit would be calculated as:
P&L = (Settlement Price - Initial Price) x stake
P&L = (13905.1 - 13867.0) x £3 per point stake
P&L = 38.1 x £3 per point stake
P&L = £114.30 profit
Speculating on indices, whether by spread betting or not, may not go to plan. In this case, you had bet that the index would rise. Naturally, the index can also go down.
If the Dow Jones index had fallen then you could choose to close your trade in order to limit your losses.
So if the spread fell to 13823.3 - 13824.3 then you would settle/close your trade by selling at 13823.3. If so, your loss would be calculated as:
P&L = (Settlement Price - Initial Price) x stake
P&L = (13823.3 - 13867.0) x £3 per point stake
P&L = -43.7 x £3 per point stake
P&L = -£131.10 loss
Note - Dow Jones Rolling Daily index market correct as of 24-Jan-13.
Where Can I Find Stock Market Trading Charts?
Most spread trading companies offer charts as well as a wide range of historical data and analysis. For example, the indices spreads charts offered by most of the companies on this website let you add a range of Moving Averages and other statistics like Bollinger Bands.
Depending upon your personal investment strategy and how you want to trade the markets, you can easily alter the charts to show the data in a variety of different time scales from week-by-week and day-by-day down to minute-by-minute changes.
The firms detailed below all offer clients a range of indices markets as well as all the normal benefits of spread trading mentioned above, ie tax free*, commission free trading, numerous markets and two-way trading.
Whether you trade more traditional stocks and shares or trade via newer products, such as ETFs or CFDs, there are always risks when you invest. With spread trading you need to be careful because you can lose more than your initial investment.
Therefore before you trade, ensure that spread trading matches your investment objectives. Make sure you familiarise yourself with the risks involved. Trades carry a high level of risk to your capital. Seek independent advice where necessary.
Having said this, you can put limits on your positions to reduce your losses but not your profits. You can also employ smaller stake sizes such as £1 per point or $1 per point.
If you only want to gain a little exposure then you could trade European, UK or US stock market indices, ie speculate on whether the FTSE, DAX, S&P 500 etc will go up or down.
You can normally trade any of these markets with stakes of just £1 per point or $1 per point etc. If you speculate on the FTSE to go up, with a £1 per point stake, and it goes up by 140 points then you would make 140 points x £1 per point = £140.
Conversely, if the market went against you, dropping by say 95 points, then with a £1 stake you would lose 95 points x £1 per point = £95.
If you were trading the FTSE 100 then your position would be closed if the FTSE 100 moved against you by 40 points. Therefore, instead of losing £95, you'd only lose 60 points x £1 per point = £60.
However, assuming you correctly predicted the direction of the market, your profit would still be £120 if it moved 120 points or £70 if the FTSE 100 moved by 70 points.
Using small stakes and guaranteed stop losses are simple risk management techniques that too many investors overlook.
Financial Spreads » "With FinancialSpreads.com you get all the advantages of Spread Trading as well as commission free CFD Trading on 2,500+ markets, 24 hour trading, professional level charts and..." read
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Stock Market Trading - 17 June 2013
[7:16pm] Ahead of the FOMC and G8 meetings, Michael Hewson's video technical analysis considers many of the most popular spread betting markets including the Nikkei and USD/JPY.
Update by Michael Hewson, Senior Market Analyst,
[4:49pm] Heading into the close, the FTSE 100 has gained 40 points, beginning a key week for markets on a strong note.
All eyes are on the Federal Reserve this week, as the long-awaited June meeting nears.
Investors have been bruised by the sharp increase in volatility over the past two weeks and it doesn't look as if things are going to quieten down any time soon.
Having got used to the 'sugar rush' of QE3, many investors would be disappointed if the Fed decided to end the party too early.
With little economic or corporate news on the agenda, the FTSE has been driven by a calming of fears that the Fed is about to start signalling a change in policy.
Although the FTSE 100 has borne a 300-point loss since the top in mid-May, there is a strong case for arguing that investor appetite for risk has not gone away entirely.
Investors have fallen back on the argument that stimulus and incremental improvement in economic data bode well for equities on a longer-term timeframe, even if the boundless optimism that characterised the first part of the year has given way to greater caution.
Banks are in the frame today after further hints that the government is mulling some sort of action regarding its stakes in Lloyds and RBS.
As the next election gets closer, such speculation will only increase.
US markets are also fairly similarly confident this afternoon, with the Dow Jones once again enjoying another 100+ point move.
A strong headline number from the Empire manufacturing index may have helped, but the index is looking better than its component parts, most of which showed deterioration.
Perhaps throwing billions of dollars at the US market in QE form is not having the wondrous effects we had been led to believe it might.
It is hard to avoid the feeling that the fate of this rally, which is still looking healthy from a US perspective, will be decided this week.
With a press conference thrown in on Wednesday as well, there will be plenty for investors to chew on.
Update by Chris Beauchamp, Market Analyst,
[1:20pm] European indices are trading in a positive fashion in the run up to the US open. The DAX 30 index is leading the way posting an impressive 100 point gain.
The main focal point for investors this week will be the Fed’s two day policy meeting, scheduled to start tomorrow.
Investors and analysts have been studying recent data, trying to decide whether or not the growth we are enjoying is enough to prompt the central bank to scale back stimulus measures.
Many analysts expect Bernanke’s statement on Wednesday to be more dovish than first expected. US futures are trading some 105 points higher at 13:20 BST.
After consecutive weekly losses seen in the FTSE 100, there are early signs that we could have some relief this week.
Investors might be starting to see value in the market, with the blue chip index down over 5% in the past month.
Whilst we have the G8 meeting taking place all day, the main talking point is expected to be the on-going troubles in Syria. However, as Prime Minister David Cameron has suggested, tax avoidance schemes are set to be high on the agenda.
The huge rally in equity markets since March 2009 may well reflect the lack of discipline and exit-planning from the US Federal Reserve in response to the financial crisis.
As a result, it's little wonder that equity markets have been behaving akin to a petulant teenager since the start of QE tapering discussion last month.
The G8 summit gets underway in Fermanagh, Northern Ireland today.
With Britain chairing the discussions, we can probably expect tax compliance and greater transparency at the forefront of the agenda, and little real impact on financial markets anticipated in the near-term.
There is a light diary in terms of economic data releases today.
The Italian Trade Balance fell in April to €1.9 billion against the comparable €3.24 billion March. Year-on-year, exports increased 4.4% and imports fell 2.6%.
With the market adopting a more defensive stance in advance of Wednesday's FOMC statement, the telecommunications sector is helping to preserve the upside whilst the more risky financial sector firmly out of favour.
Last week's fall below the 180p has seen bargain hunters buy into the fortunes of Vodafone today, with the share piece adding more than 2% this morning.
Resolution Ltd has benefited from an increased target price from JP Morgan; the shares have seen a rise of 2.42% in early trade.
ARM Holdings has taken a leg-down, owing to a broker downgrade from Numis. The share price fell 2.81% this morning.
The 24% decline from the highs of 21 May has now pushed the stock to lows not seen since late January. This is also below a previous support level which may indicate an increased bias to the downside.
The US Fed Empire State Manufacturing Index will be released later this afternoon.
This has seen a slowdown in recent months, declining in each of the last three updates. A figure of 0.4 versus the previous -1.4 is expected today.
While the expectation is that the euro will continue its upward bias against the dollar, we can expect some choppiness in the pair around the data release.
The Dow is currently trading up 116 points at 15,186.
Update by Brenda Kelly, Senior Market Strategist,
[11:21am] The US is expected to take guidance from European markets today, driven primarily by increased confidence that the recent downturn in global indices may have subsided somewhat.
The Japanese Nikkei 225 managed to post an overnight gain of over 2.7%, bringing the index back above 13,000.
Subsequently, this marks a clear plateau in the deterioration of the price action and brings about an increasingly hopeful sentiment with regards to a return to positive momentum.
The correlation between Asian and European indices has been unquestionably more relevant over the recent period and this was proven again this morning, with Europe following suit despite expectations of a mixed open of the futures markets.
US markets are expected to follow the lead of European markets, opening higher with the S&P 500 +14 points and DJIA +126 points.
Update by Joshua Mahony, Research Analyst,
[9:26am] In the absence of key data or significant corporate earnings, equity markets are managing a slight rebound this morning with European indices starting the week on the front foot.
Focus is already centred around this week’s Fed meeting and Chairman Bernanke’s Q&A session on Wednesday, where traders will be hoping for clarification on the timescale for any tapering of the asset purchase programme.
Any wording to suggest that the taps will be left on until later in the year has the potential to spark a resumption of the bull market - though obviously the opposite is also true.
Tuesday’s economic calendar makes for more lively reading with UK inflation data and the German ZEW survey both scheduled for morning release.
However, until then, we might see markets develop a range-bound pattern, with volumes less than impressive as spread trading investors go into ‘wait and see’ mode.
Update by Matt Basi, Head of Sales Trading,
[7:32am] US indices dropped Friday led by shares in the Banks, Diversified Financials and Insurance sectors.
The S&P 500 (1626.73) holds below its 20 DMA (1642.2 - negative slope) and remains above its 50 DMA (1613.5 - upward slope).
European markets are expected to start on a positive note.
[6:41am] We seem likely to see a fairly mixed start to the week today, with markets largely focusing upon the ability of key global indices to recover losses seen last week.
Overnight trade within Japan has seen an almost 300 point gain in the Nikkei 225, driving expectations of a stronger European session.
However, given the current volatility and unpredictive nature of the markets, the European futures currently point to a mixed bag for indices.
The FTSE 100 is expected to open 10 higher points, while the CAC is expected to open -6 points and the DAX is seen approximately flat at +0.2 points.
G8 Summit to Discuss US and Japanese Monetary Easing
Today marks the commencement of a two-day meeting of the 8 most industrialised nations in the form of the G8 summit.
Coming at a time of great volatility and increasing uncertainty, there is likely to be a significant focus upon the global economic outlook.
From a Japanese perspective, these talks have been productive in garnering support for the ongoing monetary measures being employed.
However, given the apparent deterioration in the markets over the past month, it is now likely that discussions regarding Japanese and US monetary easing measures will become more dovish in nature.
More generally, the recent market turmoil will certainly increase the emphasis upon the role of central banks in smoothing volatility and guiding the global economy into more stable waters.
UK Encourages G8 to Focus on Tax Issues
The meeting, taking in place in Northern Ireland, is a chance for leaders to highlight key topics of international precedence.
However, for each respective nation, there is an element of showmanship for their domestic audience to ensure the perception that key strategic issues are highlighted.
In the UK for example, much has been made of the crackdown of tax havens and tax avoidance.
The existence of low tax areas being utilised by multinational corporations as strategic headquarters has brought about an increasing feeling that the biggest companies are not paying their fair share.
The utilisation of transfer pricing creates a situation whereby services performed within one nation is resulting in a disproportionately small amount of tax being paid.
Given the UK's position as a key global centre for business, the ability to fully appropriate the relevant tax for multinational corporations may bring a significant boost to the economy.
US Manufacturing Data Aims for Expansion
In the spread trading markets, we are looking forward towards the release of the US empire state manufacturing index figure, due out at 1:30pm.
Playing second fiddle to the Philly Fed manufacturing index, this figure provides an outlook for 200 manufacturers in New York State.
The market expectation is for a push back into a positive outlook, with the May figure of -1.4 expected to rise to 0.4.
However, this has increasingly disappointed forecasters over recent months and subsequently there is a reasonable chance of seeing a consecutive negative reading.
Update by Joshua Mahony, Research Analyst,
[6:32am] A tepid start is expected in Europe as traders bide their time until the conclusion of this week's main event, the FOMC meeting and subsequent policy statement.
With the G8 focussed on Syria and domestic economic data taking a back seat, only the latest minutes from the RBA and BoE may punctuate what is expected to be a mundane yet anxious few days.
In a sign of the global significance of the Fed, whilst US indices have shed some 3%, their European counterparts are down by 5-7%.
Similarly, despite once complaining that hot money was pouring into their stock markets, Asian and emerging markets have plummeted since tapering became the byword of the bears.
Whilst equity markets did manage to steady themselves at the end of last week, it's not clear what the bulls are holding out for.
Although there is no possibility of Bernanke back-tracking on the whole tapering issue, he may offer some consolation by saying that near-zero interest rates will remain well after quantitative easing has ended.
Unfortunately for the bulls, nothing has the same levitating effect as those freshly printed dollar bills straight from the press.
The Dow plunged 131 points to 15,057 on Friday after the International Monetary Fund downgraded next year's US growth outlook from 3%, as predicted in April, to 2.7%.
Following that, the IMF also added that the Fed should stay alert regarding the timing and scaling back of their monetary policy, an operation requiring plenty of care.
Update by Jonathan Sudaria, Market Dealer,
The FTSE 100 is expected to open 10 points higher at 6,318
The DAX 30 is expected to open 3 points lower at 8,125
The CAC 40 is expected to open 6 points lower at 3,799
Update by Michael Hewson, Senior Market Analyst,
[6:27am] Having closed lower for the fourth week in a row last week, the worst run of weekly closes since April last year, Europe’s markets look set to continue their recent run of uncertainty.
The indices are expected to open mixed this morning with the predominant feeling amongst investors being concerns about this week’s Fed meeting, amid confusion as to some of the mixed signals coming from various policymakers on the committee.
This taper tension is likely to keep spread betting markets on edge until Fed Chairman Bernanke sits down for his Q&A session on Wednesday evening and sheds some light on some of the mixed messages coming from different Fed Presidents.
Particular attention is also likely to be focussed on the committee’s growth predictions for the next twelve months.
With little else on the agenda today, the global economy is likely to be one of many things that G8 leaders will be discussing as the latest meeting gets under way in Northern Ireland.
This comes amidst a back drop of controversy about covert eavesdropping as well as tension surrounding events in Syria.
Tax avoidance and tax evasion are likely to be one of many topics up for discussion as well as measures to deal with the crisis in Europe.
One of the obstacles to overcome is likely to be the lack of a harmonised corporation tax rate across Europe.
This could cause problems with some of the lower taxed regimes in Europe, like Luxembourg and in particular Ireland. Both nations will be extremely reluctant to give up their competitive advantage, when their economy is weighed down by an EU imposed austerity program.
The prospective trade deal between Europe and the US also cleared a major obstacle at the weekend when a compromise was agreed with France on protecting their film and music industries from external influence.
It beggars belief that at a time when Europe desperately needs any type of boost from an agreement that the self interest of France could prove to such an obstacle to embarking on measures to help boost EU growth and trade.
Unfortunately such are the flaws inherent in Europe and the euro area.
Regrettably it seems likely that this latest G8 summit will probably go the way of previous summits and be long on rhetoric and short on substance and probably be as much use as the proverbial chocolate teapot.
After this we can then move on and focus on next months G20 meeting.
Update by Michael Hewson, Senior Market Analyst,
[5:00am] UK Market Update
FTSE 100 futures are trading 32.8 points higher.
The Sunday Times reported that Paul Walsh, the outgoing chief executive of Diageo is expected to be appointed chairman of Compass Group.
Tesco stated that the company has stopped procuring clothes from a factory in Bangladesh after discovering serious safety problems at the site.
European Market Update
German DAX Xetra 30 futures are trading 14.5 points down, while French CAC-40 futures are trading 16.5 points higher.
Labour union UFO, which represents some flight attendants at Deutsche Lufthansa AG's subsidiary Germanwings, is asking its members to cast their vote on Monday on a possible strike over wages.
Vivendi is in advanced talks to sell its controlling stake in African phone operator Maroc Telecom to Abu Dhabi-based Emirates Telecommunications Corp, after its rival Qatar Telecom dropped out of the bidding.
US Market Update
DJIA futures are trading 54.0 points higher.
On Friday, DJIA declined 0.7%, to settle at 15,070.2. NASDAQ fell 0.6% to close at 3,423.6. S&P 500 lost 0.6%, to end at 1,626.7.
US markets ended lower on Friday, as the IMF slashed its 2014 growth forecast for the US and warned that the US Federal Reserve to carefully manage its exit from stimulus plans.
American Express and DuPont Fabros Technology declined 3.0% and 0.8%, respectively, following a broker downgrade. FNB Corp dropped 3.0%, as investors reacted negatively to its decision to buy BCSB Bancorp in a deal worth about $79 million.
Edwards Lifesciences Corp fell 2.7%, while Medtronic rose 0.3%, after the former lost a patent-infringement case against the latter. Smithfield Foods fell marginally, after it reported a steep fall in its fourth-quarter net profit.
After the closing bell, PVR Partners declined 1.7%, after it unveiled plans to offer up to $150 million of common units representing limited partner interests, to raise funds for general-partnership purposes.
Asian Market Update
Asian markets are trading mostly higher this morning, led by gains in Japanese exporters, as the yen weakened against the dollar. However, gains were kept in check, as investors exercised caution ahead of the US Fed's policy decision, due later this week.
In Japan, Japan Tobacco, Eisai and Bridgestone Corp paced gains, as a fall in the yen improved their earnings prospects. Chiyoda Corp traded higher, after Merrill Lynch upgraded the stock.
In Hong Kong, Cheung Kong Holdings added value, after it announced plans to acquire a Dutch waste-processing firm. Peer, China Resources Land also traded higher.
Cnooc and PetroChina traded higher, in line with an increase in crude-oil futures in New York trading session on Friday. However, Industrial & Commercial Bank of China traded lower, as it began to trade without rights to a dividend.
In South Korea, LG Display and SK Hynix paced losses, as investors stayed away from riskier assets.
Nikkei 225 is trading 1.2% higher, at 12,838.7. Hang Seng is trading 1.0% higher, at 21,188.0. Kospi is trading 0.1% lower at 1,888.4.
Update by Ishaq Siddiqi, Market Analyst,
[4:30am] Stock Market Price Update:
The Nikkei 225 is trading up 1.2% at 12,838.70. The Shanghai Composite is trading down -0.3% at 2,155.40. The Sensex is trading up 0.1% at 19,202.50.
In the last session:
The FTSE 100 closed up 0.1% at 6,308.30. The DJSTOXX 50 closed down -0.1% at 2,645.60. The German DAX 30 closed up 0.4% at 8,128.00. The French CAC 40 closed up 0.2% at 3,805.20. The Spain 35 closed flat at 8,070.90. The Italy 40 closed up 0.2% at 16,152.90. The S&P 500 closed down -0.6% at 1,626.70. The Dow Jones Industrials closed down -0.7% at 15,070.20.
[4:30am] The following highlights the largest FTSE 100 risers/fallers during the last trading day.
Glencore Xstrata closed 3.20% up at 315.9p Kingfisher closed 2.71% up at 352.1p Randgold Resources closed 2.56% up at 4881p
HSBC Holdings closed -1.49% down at 680.1p Severn Trent closed -1.40% down at 1760p Tesco closed -1.00% down at 336.5p
This content is for information purposes only and is not intended as a recommendation to trade. Nothing on this website should be construed as investment advice.
Unless stated otherwise, the above time is based on when we receive the data (London time). All reasonable efforts have been made to present accurate information. The above is not meant to form an exhaustive guide. Neither CleanFinancial.com nor any contributing company/author accept any responsibility for any use that may be made of the above or for the correctness or accuracy of the information provided.
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.
'Stock Market Trading' by DB, updated 17-Jun-13
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Risk Warning: CFD trading and spread trading carry a high level of risk to your capital and you may lose more than your initial investment. CFD trading and spread 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.
The contents on CleanFinancial.com are for information purposes only and are not intended as a recommendation to trade. Nothing on this website should be construed as investment advice.
Neither CleanFinancial.com nor any contributing company/author accept any responsibility for any use that may be made of the above or for the correctness or accuracy of the information provided.
* Tax law is subject to change or may differ if you pay tax in a jurisdiction other than the UK.