FXCM Inc. (NYSE: FXCM), an online provider of forex trading worldwide, has collaborated with a leading full-service index provider, Dow Jones Indexes, for developing the Dow Jones FXCM Dollar Index.
The Dow Jones FXCM Dollar Index Basket would be offering traders the chance to track the US dollar with maximum liquidity while providing the advantages of trading on low spreads, earn interest daily, and access the index 24 hours a day, five days a week.
This Dow Jones FXCM Dollar Index compares the US dollar to four of the world's most liquid currencies: the euro, British pound, Aussie dollar, and 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 Its goal is to avoid outdated currency pair selection and esoteric methodology, using the most relevant currencies and straightforward design.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."
Traders can begin trading the Dow Jones FXCM Dollar Index Basket after opening a demo account with FXCM.com.