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 Swiss SMI 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 Swiss SMI, then you can you can always try:
Each of the above currently offers a free demo account.
How to Online spread trade on the Swiss SMI?
As with many markets, you can spread bet the future value of Indices, like the Swiss SMI, rising or falling.
As it stands the Swiss SMI (March) price is 9099 - 9103 with Financial Spreads. This market expires on 21-Mar-08.
Therefore you can trade on the Swiss SMI settling:
Above 9103 by 21-Mar-08, or
Below 9099 by 21-Mar-08
With the Swiss SMI price, you trade in £x per point, where a point is 1 point of Swiss SMI movement. As an example if your stake was £8 per point and the Swiss SMI moves 5 points then that would be a £40 difference to your profit / loss.
Swiss SMI Spread Betting Example
Taking the above spread of 9099 – 9103, let’s say that you’ve done your analysis and you think that the Swiss SMI appears finish above 9103 by 21-Mar-08.
Therefore you buy at 9103 for a stake of £4 per point.
If by the expiry date of the Index settles at 9115.
Then your profit is worked out by taking the difference between the final price of 9115 and the price you bought the spread at, ie 9103, and then multiplying that by the stake per point.
Profit/loss = (9115 - 9103) x £4 per point stake.
= 12 x £4 per point stake.
= £48 profit.
But if the market didn't move as predicted and had the Swiss SMI gone against you then you could have lost. Let’s say the market settled lower at 9077, if so, your loss would be:
Loss = (9077 - 9103) x £4 per point stake.
= -26 x £4 per point stake.
= -£104 loss.
Note: Spread trading prices quoted: 24-Oct-07.
Where can I Find Free Live Prices on the Swiss SMI?
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.
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.
'Swiss SMI Spread Betting' by DB, updated 05-Mar-10
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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.
