Turkish Lira Spread Betting and Trading

cf_market_short Trading Guide

The CleanFinancial guide to spread betting on the Turkish Lira.

Live Turkish Lira Chart & Prices

The real-time CFD trading chart and prices below will provide readers with a helpful look at the USD/TRY market.

The above chart, provided by Plus 500, normally shows the USD/TRY futures contract.

Should you want to analyse real time spread betting charts and prices for USD/TRY, you’ll probably need a spread betting account.

A spreads account would also give you access to the short-term daily markets. Readers should note that opening an account is subject to status, suitability and credit checks.

Should your account application be approved, you can log in and review the live prices and charts. These are normally provided as part of the service. So what’s the catch? You’ll probably get the occasional call or letter from your chosen spread betting company.

Of course, if you do decide to trade, remember that both spread betting and contracts for difference involve a significant level of risk to your capital and you may lose more than your initial deposit.

USD/TRY Market Analysis and Trading News

10 October 2017, 12:48pm,

USD/TRY Daily Report

  • USD/TRY is currently trading at TL 3.70459.
  • At the end of the last session, the market closed TL 0.09804 (2.71%) higher at TL 3.71012.
30 Minute Analysis

Rising Forex Pair The FX market is trading higher than the 20-period MA of TL 3.70434 and higher than the 50-period MA of TL 3.67249.

1 Day Analysis

Rising Forex Pair The FX pair is trading higher than the 20-day MA of TL 3.55423 and higher than the 50-day MA of TL 3.49864.

Update by Gordon Childs, Editor, CleanFinancial

» More forex trading views and analysis.

Where Can I Spread Bet on Turkish Lira?

Currently, investors can trade USD/TRY with:

If you are looking for a particular TRY currency cross, note that CMC have set up their platform with over 30 TRY pairs from GBP/TRY and JPY/TRY to MXN/TRY and HKD/TRY. Although as with most markets, the more unusual the market is the wide the spread is likely to be.

You might also be able to take a view on the Lira with other brokers.

Where Can I Trade Turkish Lira for Free?

Speculating always involves a degree of risk.

When deciding which trading option is right for you, don’t forget that, in the UK, spread betting is tax free*, i.e. there is no capital gains tax, income tax or stamp duty.

If you want a free online trading platform, keep in mind that investors can take a view on USD/TRY with no commissions or brokers’ fees through firms such as:

Free Demo Account

We might be wrong but at the moment we can’t see any large and reputable firms that offer demo accounts with the Lira. This is likely to change though.

Advanced Charting Packages for USD/TRY

Although the charts differ across the various providers, in order to assist you with your analysis, the majority of charts usually have useful features and tools such as:

  • A large range of intervals e.g. 2 minutes, 1 hour, 4 hours etc
  • Different display options e.g. OHLC and candlestick charts
  • Drawing tools e.g. trendlines, Fibonacci time zones, fans and arcs

Charts from IG and CMC also have more advanced aspects like:

  • Custom Indicators, BackTesting and Analysis tools
  • Key overlays e.g. Bollinger Bands, Parabolic SAR, Price Channels etc
  • Indicator charts e.g. Average Directional Index, Momentum Percentage, Projection Oscillator etc
  • Customised email alerts for when a market hits a given price

The following spread betting firms offer account holders real-time prices and charts:

Sample US Dollar / Turkish Lira candlestick chart

How to Spread Bet on Turkish Lira?

You can speculate on forex rates, like USD/TRY, to rise or fall.

Looking at ETX Capital, they have put their USD/TRY Rolling Daily market at TL 2.24925 – TL 2.25025. This means that you can put a spread bet on the USD/TRY rate:

  USD/TRY Spread Trading Example Rising above TL 2.25025, or
  USD/TRY Spread Betting Example Falling below TL 2.24925

When you spread bet on USD/TRY you trade in £x per point where a point is TL 0.00010 of the pairs movement. So, if you staked £4 per point and USD/TRY moves 38.0 points then that would alter your P&L by £152. £4 per point x TL 0.00380 = £4 per point x 38.0 points = £152.

Rolling Daily Foreign Exchange Markets

It’s important to note that this is a Rolling Daily Market and so it does not have a settlement date. If you leave your position open at the end of the day, it will stay open and roll over into the next trading session.

If you allow your FX trade to roll over then you’ll usually be charged a small overnight financing fee. You can learn more about Rolling Daily Markets in our article Rolling Daily Spread Betting.

USD/TRY Spread Betting Example

So, if we consider the above spread of TL 2.24925 – TL 2.25025 and make the assumptions:

  • You have completed your market analysis, and
  • Your research leads you to think the USD/TRY rate will push higher than TL 2.25025
Then you might decide that you want to buy at TL 2.25025 and risk £2 per point.

With this spread bet you make a profit of £2 for every point (TL 0.00010) that the USD/TRY pair increases above TL 2.25025. Having said that, such a bet also means that you will lose £2 for every point that the USD/TRY market goes below TL 2.25025.

Looked at another way, if you ‘Buy’ a spread bet then your profits (or losses) are 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 your stake.

If after a few trading sessions the rate moved higher then you could consider closing your trade to secure your profit.

As an example, should the market rise, the spread might change to TL 2.25869 – TL 2.25969. You would settle your position by selling at TL 2.25869. As a result, with the same £2 stake this trade would result in a profit of:

Profits (or losses) = (Settlement Level – Initial Level) x stake
Profits (or losses) = (TL 2.25869 – TL 2.25025) x £2 per point stake
Profits (or losses) = TL 0.00844 x £2 per point stake
Profits (or losses) = 84.4 points x £2 per point stake
Profits (or losses) = £168.80 profit

FX trading won’t always go to plan. In this example, you wanted the dollar/lira market to go up. Nevertheless, the rate could go down.

If the USD/TRY market weakened, against your expectations, then you might decide to settle (i.e. close) your trade in order to limit your losses.

If the market dropped to TL 2.24294 – TL 2.24394 you would close your spread bet by selling at TL 2.24294. Therefore, you would make a loss of:

Profits (or losses) = (Settlement Level – Initial Level) x stake
Profits (or losses) = (TL 2.24294 – TL 2.25025) x £2 per point stake
Profits (or losses) = -TL 0.00731 x £2 per point stake
Profits (or losses) = -73.1 points x £2 per point stake
Profits (or losses) = -£146.20 loss

Note: USD/TRY Rolling Daily market correct as of 03-Feb-14.