Guide to Euro/Canadian Dollar Spread Betting

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Financial Spreads: Spread Betting and CFD Trading

Where Can I Spread Bet on EUR/CAD?

When trading with Financial Spreads investors are able to speculate on a large range of FX pairs. These include EUR/CAD in addition to the US dollar/Japanese yen, euro/dollar and euro/sterling.

Where Can I Access Live EUR/CAD Prices?

Financial Spreads provides real-time prices on over a thousand spread trading and CFD markets including EUR/CAD and a large variety of other forex, commodities, equities and stock markets.

Where Can I Get Live EUR/CAD Charts?

When trading with FinancialSpreads clients can make use of up-to-the-minute candlestick charts for EUR/CAD and over a thousand other financial spread betting and CFD markets.

Along with several chart types, the charting package also has a variety of options:
Example Financial Spreads FX market candlestick chart:

Forex Spread Betting Charts



How to Financial Spread Bet on EUR/CAD

For example, let's say you go on FinancialSpreads and see a price of:

  EUR/CAD Rolling Spot Sell

1.4220
Buy

1.4222


Here is a guide to how it works

Market:EUR/CAD Rolling Spot
Spread:C$1.4220 - C$1.4222
How the Trade Works:Now you can trade on the EUR/CAD Rolling Spot market to move:

  Spread Betting Above C$1.4222, or
  Spread Betting Below C$1.4220

This market is a Rolling market meaning that it does not have a settlement date. If you don't close your position and the session ends then your position will automatically roll over into the next session.

If a trade is rolled over then you will normally either be charged or credited for overnight financing based upon whether you are betting on the market to move higher or lower. For more information see Rolling Spread Bets.
Units (Points) Traded:Spread betting trades on the EUR/CAD market are priced in £x per point.

Where a point is C$0.0001 of the forex pair's price movement.

E.g. if EUR/CAD changes by C$0.0030 then you would lose or gain 30 times your stake.
Stake:You choose how much you want to risk per point, e.g. £3 per point, £4 per point, £20 per point etc.
Staking Example:If, for example, your stake is £3 per point and EUR/CAD moves C$0.0034 (34 points), you would lose/win £3 per point x 34 points = £102.


Worked Spread Betting Example - Going Long of EUR/CAD

Financial spread trading on the FX rate to move higher

You Now Consider Whether to Buy or Sell: EUR/CAD to go:

  Spread Betting Above C$1.4222? or
  Spread Betting Below C$1.4220?

Let's Assume You Decide to Buy:   Spread Betting Above C$1.4222
You Choose How Much to Risk, Let's Assume You Select: £2 per point
So What Next?
  • You will make a profit of £2 for each point (C$0.0001) EUR/CAD goes higher than C$1.4222
  • You will lose £2 for every point (C$0.0001) EUR/CAD moves lower than C$1.4222
If You Are Going Long of a Market Your Trading Profits (or Losses) = (Final Price - Initial Price) x stake
 
Trading Scenario 1
EUR/CAD goes higher and the financial spread betting market is adjusted to C$1.4301 - C$1.4303, therefore you'd see this on Financial Spreads:   1.4301   1.4303
Take a Profit? At this point, you may decide to keep your position open or close it, i.e. close your position to lock in your profit. For this example, you decide to close your bet and sell the market at C$1.4301.
Your Trading Profits (or Losses) = (Final Price - Initial Price) x stake
(C$1.4301 - C$1.4222) x £2 per point (£2 per C$0.0001)
C$0.0079 x £2 per point
79 points x £2 per point
Your Trading Profits (or Losses) = £158 profit
 
Trading Scenario 2
EUR/CAD decreases and the market is adjusted and moved to C$1.4151 - C$1.4153:   1.4151   1.4153
Time to Limit Your Loss? You can choose to let your bet run or close it, i.e. close your trade and restrict your losses. In this example you choose to settle your trade and sell at C$1.4151.
Your Trading Profits (or Losses) = (Final Price - Initial Price) x stake
(C$1.4151 - C$1.4222) x £2 per point (£2 per C$0.0001)
-C$0.0071 x £2 per point
-71 points x £2 per point
Your Trading Profits (or Losses) = -£142 loss


Worked Example - Taking a Bearish View of EUR/CAD

Financial spread betting on the FX rate to go down

You Work Out Whether to Buy or Sell: EUR/CAD to push:

  Spread Betting Above C$1.4222? or
  Spread Betting Below C$1.4220?

Let's Say You Choose to Sell:   Spread Betting Below C$1.4220
You Decide How Much to Risk, Let's Say You Select: £1 per point
What Now?
  • You will lose £1 for every point (C$0.0001) EUR/CAD moves higher than C$1.4220
  • You will make a profit of £1 for every point (C$0.0001) EUR/CAD goes below C$1.4220
When You Go Short With a Spread Bet Your Trading Profits (or Losses) = (Initial Price - Final Price) x stake
 
Trading Scenario 3
EUR/CAD falls and the spread trading market is revised to C$1.4096 - C$1.4098, so you would see this on Financial Spreads:   1.4096   1.4098
Close and Take a Profit? At this point, you may decide to leave your trade open or close it to lock in your profit. In this case you opt to close your bet and buy the market at C$1.4098.
Your Trading Profits (or Losses) = (Initial Price - Final Price) x stake
(C$1.4220 - C$1.4098) x £1 per point (£1 per C$0.0001)
C$0.0122 x £1 per point
122 points x £1 per point
Your Trading Profits (or Losses) = £122 profit
 
Trading Scenario 4
EUR/CAD moves higher and the spread betting market is revised and changes to C$1.4328 - C$1.4330. I.e. you would see:   1.4328   1.4330
Limit Your Loss?At this point, you may decide to let your spread bet run or close it, i.e. close your spread bet to limit your loss. In this example you decide to settle your trade and buy at C$1.4330.
Your Trading Profits (or Losses) = (Initial Price - Final Price) x stake
(C$1.4220 - C$1.4330) x £1 per point (£1 per C$0.0001)
-C$0.0110 x £1 per point
-110 points x £1 per point
Your Trading Profits (or Losses) = -£110 loss

Where Can I Practice Financial Spread Betting on EUR/CAD?

FinancialSpreads offers a free Demo Account which allows you to try out trading orders, access the real time charts, try out spread betting and CFD trading and test new trading theories on spread trading and CFD markets like EUR/CAD.

The Demo Account comes with an array of markets such as indices, FX, commodity markets and shares.

Open a Free Demo Account



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+44 (0) 203 301 0483
support@financialspreads.com

Also see:
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