USDOLLAR - The Dollar Index
The Dow Jones Friedberg Direct Dollar Index Basket (USDOLLAR) was developed by traders for traders allowing you to take advantage of US Dollar appreciation or depreciation with precise tracking and maximum liquidity.
The Index Basket
The index basket is designed to be as easy to understand as it is to trade. It reflects the change in value of the US dollar measured against a basket of the most liquid currencies in the world:
The Dow Jones Friedberg Direct Dollar Index began on January 1, 2011, at a value of 10,000.00. It represents an equivalent $10,000 position in each of the currencies that make it up. It rises when the Dollar rises against the Euro, the British Pound, and the Australian Dollar and falls as the Dollar depreciates compared to these currencies. For example, if the US dollar rallies 100 pips against each the EUR, GBP, JPY, and AUD, the index will appreciate by approximately 100 points. It's that simple.
Margin Requirement's may differ depending on account type and can be viewed in the Dealing Rates and create order windows on the trading station or by clicking here.
FXCM's trading hours vary by product. For forex and USDOLLAR, trading opens on Sundays between 5:00 PM ET and 5:15 PM ET and closes on Fridays around 4:55 PM ET.
Maximum Contract Size
The maximum number of contracts per click (trade) for the USDOLLAR is 200.
Minimum Pip Cost (Value)
USDOLLAR has a minimum value of $1 per point (Your per point value may be different if your account is denominated in a different currency. Please refer to the Simple Dealing Rates Window in Trading Station for this value). The pip/point location is shown below.