USD / JPY Spread Betting
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Welcome to Clean Financial's guide to USD / JPY spread betting.
Quick and simple answers to the most common USD / JPY questions:
Q) Where can I Spread Bet on USD / JPY?
Q) Where can I Trade for Free on USD / JPY?
Q) How to Spread Bet on USD / JPY?
Q) Where can I find Free Live Prices on USD / JPY?
Q) Where can I find Free USD / JPY Charts?
Q) Where can I find free Forex Trading News?
Q) Where can I find Narrow Forex Spreads?
Advert:
USD / JPY Spread Betting, sponsored by
FinancialSpreads.com.
Narrow USD / JPY Spreads plus
tax free*, commission free, broker free:
Apply for an account.
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Spread Betting Companies - Forex Spreads Comparison
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| GBP / USD Daily - Spread Size |
3 |
3 |
3 |
2 |
3 |
2-4 |
| GBP / USD Daily - Min Stake |
£1 |
£1 |
£0.50 |
£1 |
£1 |
£1 |
| GBP / USD Future - Spread Size |
8 |
8 |
12 |
6 |
8 |
- |
| GBP / USD Future - Min Stake |
£1 |
£1 |
£1 |
£1 |
£1 |
- |
| GBP / EUR Daily - Spread Size |
4 |
4 |
2 |
5 |
4 |
1-3‡ |
| GBP / EUR Daily - Min Stake |
£1 |
£1 |
£0.50 |
£1 |
£1 |
£1 |
| GBP / EUR Future - Spread Size |
10 |
10 |
10 |
15 |
10 |
- |
| GBP / EUR Future - Min Stake |
£1 |
£1 |
£1 |
£1 |
£1 |
- |
| EUR / USD Daily - Spread Size |
2 |
2 |
2 |
1 |
2 |
1-3 |
| EUR / USD Daily - Min Stake |
£1 |
£1 |
£0.50 |
£1 |
£1 |
£1 |
| EUR / USD Future - Spread Size |
6 |
6 |
12 |
6 |
6 |
- |
| EUR / USD Future - Min Stake |
£1 |
£1 |
£1 |
£1 |
£1 |
- |
Comparison Notes
Where can I Spread Bet on USD / JPY?
You can currently spread bet on USD / JPY and other Forex markets at:
Where can I Trade for Free on the USD / JPY market?
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 USD / JPY 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 USD / JPY, then you can you can always try:
Each of the above currently offers a free Demo Account.
How to Spread Bet the USD / JPY?
As with many financial markets, you can bet on the future value of FX markets, like USD / JPY cross rate, to go up or down.
At the time of writing the USD / JPY (March) market is 109.85 - 109.93 with FinancialSpreads.com. This March market expires on 14-Mar-08.
Therefore you can spread bet on USD / JPY currency pair settling:
- Above 109.93 on 14-Mar-08, or
- Below 109.85 on 14-Mar-08
Note that for the US Dollar / Yen market, you trade in £X per pip, where a pip is 0.01 units of USD / JPY movement. For example, if your stake was £5 per pip and the USD / JPY moves 0.06 (6 pips) then that would be a £30 difference to your profit/loss.
US Dollar / Yen Trading Example
So taking the above spread of 109.85 - 109.93 lets say you feel that the Dollar will get make gains against the Yen and the USD / JPY rate will finish above 109.93 on 14-Mar-08.
Therefore you buy at 109.93 for a stake of, let’s say, £2 per pip.
And let's also say that at the expiry date the market settles at 110.48, if so:
Your profit is worked out by taking the difference between the settlement price of 110.48 and the opening price of 109.93 and then multiplying that by the stake per pip.
Profit = ((110.48 - 109.93) / 0.01) x £2 per pip stake.
Profit = (0.55 / 0.01) x £2 per pip stake.
Profit = 55 pips x £2 per pip stake.
Profit = £110 profit.
However if the market didn't move as predicted and Dollar weakened against the Yen then Dollar / Yen currency pair could have closed lower at 109.66, if so, you would have lost money.
Loss = ((109.66 - 109.93) / 0.01) x £2 per pip stake.
Loss = (-0.27 / 0.01) x £2 per pip stake.
Loss = - 27 pips x £2 per pip stake.
= -£54 loss.
(Note: FX spread prices quoted as of 14-Nov-07).
Where can I Find Free Live Prices on USD / JPY?
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 USD / JPY 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.
Advert:
USD / JPY Spread Betting, sponsored by
FinancialSpreads.com.
Narrow USD / JPY Spreads plus
tax free*, commission free, broker free:
Apply for an account.
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'USD / JPY Spread Betting' by DB, updated 28-Feb-08
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