LONDON, August 10, 2012 /PRNewswire/ --
On Monday, 6 August, it was reported that Standard Chartered had hidden 60,000 transactions with Iran between 2001 and 2010.
As we near the end of the week, Standard Chartered has rejected allegations of money laundering, leaving investors curious as to how this could affect the bank's future share price.
As an alternative to traditional trading, investors can open up trading opportunities in a market that both rises and falls with a financial spread betting account.
Here, we look at the news out of Standard Chartered and how you can spread bet on its future share price with the potential to profit.
Standard Chartered Reject Iran Allegations
On Wednesday, 8 August, Standard Chartered's chief executive Peter Sands 'fundamentally rejected' the allegations that the bank had laundered as much as $250 billion (£161 billion) in Iran-related transactions.
However, Sands did apologise that for some deals, US sanctions had been violated.
In a conference call on Wednesday, Sands stated: "There was no systematic attempt to circumvent sanctions."
Following the accusations on Monday by US regulators, Standard Chartered shares plunged, slumping 22% by close of trade on Tuesday, 7 August. By mid-morning trading on Thursday, August 9, however, shares had recovered significantly, but were still down by around 16% as compared to levels before the news hit the markets on Monday. You can take a spread betting position on Standard Chartered shares through City Index's online spread betting platform.
How to Spread Bet Standard Chartered Shares
Through a financial spread betting account, you can speculate on the future price movement of thousands of global markets.
With City Index, you can spread bet shares, indices, commodities and more, for only a small initial deposit - approximately between 1% and 10% of the value of the trade you wish to place.
Investors looking to spread bet Standard Chartered shares can do so with the potential to profit regardless of whether the company's share price rises or falls.
In the event you expect the Standard Chartered share price to rally, you can go long and buy the market. In the event you are correct, you will profit in line with every point rise in Standard Chartered shares.
Alternatively, you may expect the share price to fall - in this case you can go short and sell. In the event you are correct, you will profit in line with every point the market falls.
However, if the market moves against your spread betting position - i.e. falls or rises, respectively - you could lose more than your initial deposit.
You can help manage your potential risk and limit your losses by utilising the range of risk management tools available to you as a City Index spread bettor, including standard stop loss orders and guaranteed stop loss orders.
Start Financial Spread Betting
To start spread betting across a range of trading platforms - including the City Trading mobile application - you can apply for a spread betting account with City Index through their website: http:http://www.cityindex.co.uk
Read More Spread Betting Tips
If you found this article helpful, you may want to read more just like this. You can access a range of free spread betting tips, guides and articles through the City Index website.
Spread betting is a leveraged product which can result in losses greater than your initial deposit. Ensure you fully understand the risks.
About City Index:
Today more and more individual traders are discovering the benefits of derivatives, and many of them are discovering them through a City Index trading platform.
As a group, we transact in excess of 1.5 million trades every month in over 50 countries. We provide access to a wide range of instruments including margined foreign exchange, CFDs and, in the UK, financial spread betting.
We constantly look to improve the performance of our platforms and expand our range of services. The result is our customers benefit from innovative trading tools with transparent pricing, competitive spreads, and a high standard of customer support. Visit http://www.cityindex.co.uk/ for details.
SOURCE City Index