FXCM have collaborated with Dow Jones Indexes to create the Dow Jones FXCM Dollar Index, FXCM will launch a tradable basket on the index.
In terms of daily turnover, the US dollar is the world's foremost currency and the standard against which other currencies are measured. The Dow Jones FXCM Dollar Index Basket will offer FXCM clients the opportunity to track the US dollar with maximum liquidity while providing the advantages of trading on low spreads, trade on margin, earn interest daily and access the index with 24 hour trading.
Dow Jones FXCM Dollar Index Basket
This Dow Jones FXCM Dollar Index compares the US dollar to four of the world's most liquid currencies: the euro, the pound, Australian dollar and the Japanese yen.
The Dow Jones FXCM Dollar Index Basket is intended to be more relevant, tradable, and easier to use than existing dollar indexes.
Commenting on the release Drew Niv, CEO of FXCM, said, "The Dow Jones FXCM Dollar Index was designed with the trader in mind. Its goal is to avoid outdated currency pair selection and esoteric methodology, using the most relevant currencies and straightforward design.
“Because of this, the index-linked basket can deliver maximum utility to the trader. FXCM is thrilled to bring an index product like this to our traders on FXCM platforms and has partnered with what we believe to be the best index provider to do so."
FXCM forex trading and CFD trading is leveraged and carries a high level of risk and may not be suitable for all investors.
Dow Jones Indexes
Best known for the Dow Jones Industrial Average, Dow Jones Indexes offers more than 130,000 share-based indexes, as well as fixed-income and alternative indexes, including measures of hedge funds and commodities.
FXCM
FXCM is a global provider of forex trading and related services to retail and institutional customers.
At the heart of FXCM's client offering is No Dealing Desk forex trading. Clients benefit from FXCM's large network of forex liquidity providers enabling FXCM to offer competitive spreads on major currency pairs.
Clients have the advantage of FXCM’s mobile trading, one-click order execution, and trading from real-time charts. In the UK FXCM also offer FXCM CFDs and FXCM spread betting products with no re-quote trading and allows clients to trade FX,stock indices and commodities on one platform.
Spread Betting, Contracts for Difference (CFDs) and Margined Forex trading are leveraged forms of investing which carry a high level of risk. You may incur losses that are in excess of your initial stake or investment. Make sure that you only speculate with funds you can afford to lose. Before trading ensure you recognise the risk. These products might not be suited to all kinds of investor. Seek independent investment guidance if necessary.
Article provided / approved by Forex Capital Markets Limited which is authorised and regulated in the UK by the Financial Services Authority, reference number 217689.
'Dow Jones FXCM Dollar Index' edited by DB, updated 26-Aug-11
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Risk Warning:
Please note that spread betting and CFD trading carry a high level of risk to your capital. You can lose more than your initial deposit. These products may not be suitable for all investors. Only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved and seek independent financial advice where necessary.
* Tax law is subject to change or may differ if you pay tax in a jurisdiction other than the UK.
