Make Money Trading Currencies (FX) - Financial Spread Betting

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Popular currency pairs
Let's look at an example currency bet.
Take the GBP/USD currency pair again. While the pound might strengthen against the dollar over a period of a month, from 1.507 to 1.543, this is only a 36 point change.

If you were trading using a financial spread betting account, at £2 per point for example, you would still only have made around £72.

Luckily spread betting companies quote fractional changes to the currency rate, one decimal point further to the right. This means you might see the GBP/USD price move between 1.5442 and 1.5581 in a single day.

Now you have a daily trading range of 139 points, much more attractive from a spread betting point of view. Take that out to a month, and there could be a move of 300 points or more, up or down (depending on which side of the trade you are supporting).

As with other products made available by spread betting companies, currencies have spreads -- in other words, the difference between the buy and sell price.

They also have varying margin rates.
The narrower spreads tend to be with the more liquid currencies. These are the currencies that are bought and sold in big volumes globally, also known as the currency majors.
These include the US dollar, the world's de facto reserve currency, as well as the euro, the Japanese yen, and the British pound.
Amongst the other popular currencies are the Canadian dollar and the Australian dollar, which are partly driven by the prices of the natural resources provided by both countries. When these are in demand, their associated currencies tend to go up as other countries are busy buying all that copper and oil. Similarly, they will tend to go down when commodities prices decline.
Whatever you decide to trade, it's best to use a system. Using a trusted system is a great way to make sure you're not going into the markets alone. Vince Stanzione's tried --and-trusted trading courses allow you to enter the markets with the benefit of his years of experience.
Get started now by visiting thefintrader.net Spread Betting For Beginners Currency trading explained, Financial Spread betting systems, CFD trading

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