Canada 60 Spread Betting
Where Can I Spread Bet on the Canada 60? |
You can currently spread bet on the Canada 60 and other indices at:
» IG
» CMC Markets
» GFT
The Canada 60 index may be available with other brokers.
Where Can I Trade the Canada 60 for Free? |
It depends upon what you mean by 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 the Canada 60 and other index markets commission free and with no brokers' fees with IG Index.
Financial Spreads » "With FinancialSpreads.com you get all the advantages of
Spread Betting as well as commission free CFD Trading on 2,500+ markets, 24 hour trading, professional level charts and..." read
Financial Spreads review.
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How to Spread Bet on the Canada 60? |
As with many markets, an investor can place a spread bet on indices, such as the Canada 60, to either increase or decrease.
Looking at the IGIndex trading site, they are pricing the Canada 60 March Futures market at 804.50 - 805.70. This means you can spread trade on the Canada 60 market:
- Closing higher than 805.70, or
- Closing lower than 804.50
On the expiry date for this 'March' market, 18-Mar-11.
When financial spread betting on the Canada 60 index you trade in £x per point. So, if you invest £10 per point and the Canada 60 moves 5.00 points then that would alter your bottom line by £50. £10 per point x 5.00 points = £50.
For short term trading on indices also see Indices Rolling Daily Spread Betting.
Canada 60 Futures Spread Betting Example
Now, if we consider the above spread of 804.50 - 805.70 and assume that:
- You have completed your analysis of the markets, and
- You feel that the Canada 60 index will settle higher than 805.70 by 18-Mar-11
Then you could decide to go long of the market at 805.70 for a stake of, let’s say, £5 per point.
So, you win £5 for every point that the Canada 60 index increases above 805.70. Of course, you will make a loss of £5 for every point that the Canada 60 market falls below 805.70.
Put another way, if you were to buy a spread bet then your P&L is worked out by taking the difference between the closing 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, on the expiry date, the Canada 60 index settled higher at 821.80, then:
Profit / loss = (Final Price - Initial Price) x stake
Profit / loss = (821.80 - 805.70) x £5 per point stake
Profit / loss = 16.10 x £5 per point stake
Profit / loss = £80.50 profit
Trading indices, whether by spread betting or otherwise, doesn't always work out as you would have liked. In this example, you wanted the index to go up. Naturally, it could go down.
If the Canada 60 had fallen and closed lower at 787.60, then this means you would end up making a loss and losing money on this spread bet.
Profit / loss = (Final Price - Initial Price) x stake
Profit / loss = (787.60 - 805.70) x £5 per point stake
Profit / loss = -18.10 x £5 per point stake
Profit / loss = -£90.50 loss
Note: Canada 60 March Futures spread betting market correct as of 24-Feb-11.
Where Can I Find Free Live Canada 60 Prices? |
If you want to access quick live market information then you could do worse than opening an account with a spread betting company like IG Index.
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 IG.
As with most candlestick charts, you can alter the charts to see market data by the minute, by the hour, by the week etc. There are also a number of other settings designed to help you analyse the markets.
Example Stock Market Charts:
Financial Spreads » "With FinancialSpreads.com you get all the advantages of
Spread Betting as well as commission free CFD Trading on 2,500+ markets, 24 hour trading, professional level charts and..." read
Financial Spreads review.
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'Canada 60 Spread Betting' edited by Jacob Wood, updated 13-Apr-17
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Canada 60 Spread Betting
In our Canada 60 spread betting guide we review where to get live charts, where to spread bet on the Canada 60 stock market index tax-free* and with 0% commission, how to trade and... » read from top.
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