USD/CAD Spread Betting
Indicative USD/CAD 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 USD/CAD? |
At the moment, investors are able to speculate on USD/CAD with any of these spread betting firms:
Advert:
USD/CAD Spread Betting, sponsored by FinancialSpreads.com.
You can spread bet on USD/CAD with
Financial Spreads.
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Where Can I Spread Bet on USD/CAD for Free? |
Investing in the markets involves an element of risk. Having said that, if you would like to open a free Demo Account, which lets you try financial spread betting, please see below for more details.
When deciding which trading option might work for you, don't forget that forex spread betting in the UK is free of capital gains tax, income tax and stamp duty*.
If you're looking for a free forex platform, you should note that you can take a position on USD/CAD with no brokers' fees, and zero commissions, via:
Should you want a Test Account which lets users get to grips with online spread betting, including forex markets like USD/CAD, then you could take a look at:
Each of the above spread betting firms provide a risk free Demo Account which lets investors gain experience with a host of trading orders, try out new trading ideas and review the latest charts.
Where Can I Find Live Spread Betting Prices and Charts for USD/CAD? |
We have indicative daily spread betting prices above, please see USD/CAD prices.
The following CFDs chart provides a helpful overview of the USD/CAD rate.
The above Plus500 chart is typically based on the USD/CAD futures market (not the daily market).
If you'd like to analyse live financial spread betting charts/prices for USD/CAD, you will need to apply for a spread betting account.
A spreads account would also let you speculate on the shorter-term daily prices. Note that such accounts are normally dependent on credit, status and suitability checks.
If your account application is accepted then you can log in to analyse the live charts and the current pricing. On most platforms, these will be provided for free. The catch? You are likely to receive an occasional sales call or letter from your chosen spread trading company.
If you decide to trade then, before you start, be aware that financial spread trading and CFDs do involve a significant level of risk to your capital and you can incur losses that exceed your initial investment.
Advanced Charts for USD/CAD |
Even though charting software and packages tend to vary from provider to provider, to aid your forex analysis, most charts usually come with tools that include:
- A wide range of time intervals such as 3 minutes, 4 hours, 1 day etc.
- Different display options such as candlestick and line charts
- Drawing tools such as trendlines, Fibonacci time zones, fans and arcs
- Chart overlays and indicators such as Exponential Moving Average, Relative Strength Index etc.
The charts on Capital Spreads also come with more advanced features such as:
- Back Testing, Analysis and Optimisation functions
- Customised email alerts for when the markets reach a pre-determined level
Sample currency trading chart
The spread trading brokers in the following list give account holders access to charts and live prices:
How to Spread Bet on USD/CAD? |
As with a wide variety of global markets, you are able to speculate on foreign exchange pairs, like USD/CAD, to either rise or fall.
If we go to a spread betting site like Tradefair, we can see that they have priced the USD/CAD Rolling Daily market at C$0.97204 - C$0.97234. Therefore, you could spread bet on the USD/CAD forex rate:
 Increasing higher than C$0.97234, or
 Decreasing lower than C$0.97204
When spread trading on USD/CAD you trade in £x per point where a point is C$0.00010 of the pairs movement. As a result, if you decided to invest £4 per point and USD/CAD moves 36.0 points then that would change your profits (or losses) by £144. £4 per point x C$0.00360 = £4 per point x 36.0 points = £144.
Rolling Daily Forex Markets
One important thing to note is that this is a Rolling Daily Market and so unlike a futures market, there is no closing date. Should your trade be left open at the end of the trading day, it will just roll over into the next day.
Should your FX spread bet roll over then you are normally charged a small financing fee. For a more detailed example see Rolling Daily Spread Betting.
USD/CAD Rolling Daily - Forex Spread Betting Example |
So, if we consider the above spread of C$0.97204 - C$0.97234 and assume that:
- you have analysed your chosen market, and
- it leads you to think that the USD/CAD rate will increase and move higher than C$0.97234
then you could choose to go long of the market at C$0.97234 for a stake of, for the sake of argument, £4 per point.
So, you make a profit of £4 for every point (C$0.00010) that the USD/CAD FX pair increases above C$0.97234. Of course, it also means that you will lose £4 for every point that the USD/CAD market goes lower than C$0.97234.
Put another way, should you buy a spread bet then your profits (or losses) are calculated by taking the difference between the settlement price of the market and the initial price you bought the market at. You then multiply that difference in price by your stake.
As a result, if after a few hours the foreign exchange rate started to increase then you might think about closing your position in order to lock in your profit.
Therefore, if the market moved up then the spread, determined by the spread betting company, might change to C$0.97574 - C$0.97604. You would close your spread bet by selling at C$0.97574. As a result, with the same £4 stake you would make:
Profit = (Closing Level - Opening Level) x stake
Profit = (C$0.97574 - C$0.97234) x £4 per point stake
Profit = C$0.00340 x £4 per point stake
Profit = 34.0 points x £4 per point stake
Profit = £136.00 profit
Trading FX doesn't always go to plan. With the above, you had bet that the FX pair would rise. Of course, the currency rate can also decrease.
If the USD/CAD market had started to drop then you might decide to settle/close your spread bet in order to restrict your losses.
Should the market drop to C$0.96942 - C$0.96972 then this means you would sell back your position at C$0.96942. If so, this would result in a loss of:
Loss = (Closing Level - Opening Level) x stake
Loss = (C$0.96942 - C$0.97234) x £4 per point stake
Loss = -C$0.00292 x £4 per point stake
Loss = -29.2 points x £4 per point stake
Loss = -£116.80 loss
Note: USD/CAD Rolling Daily currency market quoted as of 11-Sep-12.
Advert:
USD/CAD Spread Betting, sponsored by FinancialSpreads.com.
You can spread bet on USD/CAD 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.
'USD/CAD Spread Betting' by DB, updated 14-Jun-13
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