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Brokers With US Dollar Index

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Written By
Jemma Grist
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Written By
Jemma Grist
Jemma is a writer, editor and fact-checker focused on retail trading and investing. Jemma brings a unique perspective to the forex, stock, and cryptocurrency markets and works across several investment websites as a researcher and broker analyst.
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Edited By
James Barra
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James Barra
James is an investment writer with a background in financial services. As a former management consultant, he has worked on major operational transformation programmes at prominent European banks. James authors, edits and fact-checks content for a series of investing websites.
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Fact Checked By
Michael MacKenzie
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Fact Checked By
Michael MacKenzie
Michael is a writer and editor with over a decade in journalism and publishing. His niche lies in editing and fact-checking content in the financial services sector, with a focus on online brokers and trading platforms. Michael previously reported on politics and economics in the Middle East and edits books for established publishers.
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Updated
Oct 4, 2024

Brokers with the US Dollar Index (USDX) allow traders to speculate on the strength of the USD against a basket of foreign currencies. Managed by the Intercontinental Exchange (ICE), the USDX can be traded via various instruments depending on the trading platform, notably futures, options, and CFDs.

Discover the best brokers with the US Dollar Index, all personally tested by our experts.

Best Brokers For US Dollar Index

Following our first-hand evaluations, these are the top 10 trading platforms that offer the USDX:

Click a broker for details
  1. 1
    AvaTrade
    Currency index: USD
    20% Welcome Bonus up to $10,000
    Ratings
    4.8 / 5
    4.3 / 5
    4.5 / 5
    3.8 / 5
    4.3 / 5
    4.3 / 5
    4.3 / 5
    4.5 / 5
    4.3 / 5
    4 / 5
    $100
    0.01 Lots
    1:30 (Retail) 1:400 (Pro)
    ASIC, CySEC, FSCA, ISA, CBI, FSA, FSRA, BVI, ADGM, CIRO, AFM
    CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures
    WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
    Skrill, Wire Transfer, FasaPay, Mastercard, Perfect Money, Swift, MoneyGram, Credit Card, WebMoney, JCB Card, Debit Card, Neteller, Boleto
    USD, EUR, GBP, CAD, AUD
    Go To AvaTrade
  2. 2
    XM
    Currency index: USD
    $30 No Deposit Bonus When You Register A Real Account
    Ratings
    3.8 / 5
    4.3 / 5
    4 / 5
    4 / 5
    3.8 / 5
    4.8 / 5
    4.3 / 5
    4.3 / 5
    4.7 / 5
    3.9 / 5
    $5
    0.01 Lots
    1:1000
    ASIC, CySEC, DFSA, IFSC
    CFDs, Forex, Stocks, Commodities, Indices, Thematic Indices, Precious Metals, Energies
    MT4, MT5, TradingCentral
    Credit Card, Debit Card, Skrill, Neteller, Wire Transfer, Perfect Money, Apple Pay, Google Wallet, TransferWise, Visa, M-Pesa
    USD, EUR, GBP, JPY
    Go To XM
  3. 3
    Exness
    Currency index: USD
    Ratings
    3.8 / 5
    4.3 / 5
    3.5 / 5
    3.8 / 5
    3.8 / 5
    3.8 / 5
    4.3 / 5
    1.5 / 5
    4.4 / 5
    4.3 / 5
    $10
    0.01 Lots
    1:Unlimited
    CySEC, FCA, FSCA, CMA, FSA, CBCS, BVIFSC, FSC, JSC
    CFDs, Forex, Stocks, Indices, Commodities, Crypto
    Exness Trade App, Exness Terminal, MT4, MT5, TradingCentral
    Wire Transfer, Credit Card, Visa, Mastercard, Bitcoin Payments, Boleto, Airtel, Debit Card, Neteller, Skrill, Perfect Money, Sticpay, AstroPay, Cashu, FasaPay, WebMoney, M-Pesa
    USD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, MYR, IDR, DKK, CHF, HKD, SGD, AED, SAR, HUF, BRL, NGN, THB, VND, UAH, KWD, QAR, KRW, MXN, KES, CNY
    Go To Exness
  4. 4
    Pepperstone
    Currency index: USD, EUR, JPY
    CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. 81.8% of retail investor accounts lose money when trading CFDs.
    Ratings
    4.6 / 5
    4 / 5
    3.8 / 5
    4.4 / 5
    4.4 / 5
    4.6 / 5
    4.3 / 5
    4 / 5
    4.4 / 5
    4.1 / 5
    $0
    0.01 Lots
    1:30 (Retail), 1:500 (Pro)
    FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
    CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting
    MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade
    Visa, Mastercard, Credit Card, Debit Card, PayPal, Wire Transfer, POLi, UnionPay, BPAY, Neteller, Skrill, PIX Payment, Apple Pay, Google Wallet
    USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD
    Go To Pepperstone
  5. 5
    Eightcap
    Currency index: USD
    Ratings
    4.3 / 5
    4 / 5
    3.6 / 5
    3.8 / 5
    4.3 / 5
    4 / 5
    3.5 / 5
    3.5 / 5
    4.8 / 5
    4.4 / 5
    $100
    0.01 Lots
    1:500
    ASIC, FCA, CySEC, SCB
    CFDs, Forex, Stocks, Indices, Commodities, Crypto
    MT4, MT5, TradingView
    Neteller, Skrill, Visa, UnionPay, Credit Card, Debit Card, Bitcoin Payments, Wire Transfer, FasaPay, BPAY, PayPal, Dragonpay, PIX Payment
    USD, EUR, GBP, CAD, AUD, NZD, SGD
    Go To Eightcap
  6. 6
    eToro
    Currency index: USD
    51% of retail investor accounts lose money when trading with this provider. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.
    Ratings
    4.8 / 5
    4.2 / 5
    4.5 / 5
    3 / 5
    4 / 5
    3.5 / 5
    4.5 / 5
    4.5 / 5
    4.8 / 5
    4 / 5
    $100
    $10
    FCA, ASIC, CySEC, FSA, FSRA, MFSA, CNMV, AMF
    Stocks, ETFs, Options, Crypto
    eToro Web, CopyTrader, TradingCentral
    Visa, Skrill, Neteller, Wire Transfer, Rapid Transfer, Swift, Debit Card, iDeal, Klarna, Sofort, Trustly, Przelewy24
    USD, EUR, GBP
    Go To eToro
  7. 7
    Vantage
    Currency index: USD
    50% Welcome Deposit Bonus, earn redeemable rewards in the Vantage Rewards scheme
    Ratings
    4.6 / 5
    4.5 / 5
    4.5 / 5
    4.4 / 5
    4.3 / 5
    4.4 / 5
    4 / 5
    4 / 5
    3.6 / 5
    3.9 / 5
    $50
    0.01 Lots
    1:500
    FCA, ASIC, FSCA, VFSC
    CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds
    ProTrader, MT4, MT5, TradingView, DupliTrade
    Skrill, BPAY, JCB Card, AstroPay, Visa, Swift, Neteller, Wire Transfer, Credit Card, Debit Card, UnionPay, FasaPay, Sticpay, Bitwallet, Volet
    USD, EUR, GBP, CAD, AUD, NZD, JPY, HKD, SGD, PLN
    Go To Vantage
  8. 8
    FxPro
    Currency index: USD
    Ratings
    4.4 / 5
    3.8 / 5
    4 / 5
    4 / 5
    4.3 / 5
    4 / 5
    4 / 5
    4 / 5
    4.7 / 5
    4.3 / 5
    $100
    0.01 Lots
    1:30 (Retail), 1:500 (Pro), 1:1000 (Via Prime Ash Capital Limited)
    FCA, CySEC, FSCA, SCB, FSA
    CFDs, Forex, Stocks, Indices, Commodities, Futures
    FxPro Edge, MT4, MT5, cTrader, AutoChartist, TradingCentral, DupliTrade
    Wire Transfer, Credit Card, PayPal, Skrill, Neteller, Maestro, Mastercard, Visa, Google Wallet, Bitcoin Payments, Ethereum Payments
    USD, EUR, GBP, AUD, JPY, ZAR, CHF, PLN
    Go To FxPro
  9. 9
    CMC Markets
    Currency index: USD, EUR, GBP, JPY, CAD, AUD, NZD, CHF
    Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
    Ratings
    4.8 / 5
    4.5 / 5
    4.5 / 5
    4.3 / 5
    4 / 5
    4.5 / 5
    4.5 / 5
    4.3 / 5
    4.1 / 5
    3.7 / 5
    $0
    0.01 Lots
    1:30 (Retail), 1:500 (Pro)
    FCA, ASIC, MAS, CIRO, BaFin, FMA, DFSA
    CFDs, Forex, Stocks, Indices, Commodities, ETFs, Treasuries, Custom Indices, Spread Betting
    Web, MT4
    Visa, Mastercard, Wire Transfer, Credit Card, Debit Card, PayPal
    USD, EUR, GBP, CAD, AUD, NZD, SEK, NOK, SGD, PLN
    Go To CMC Markets
  10. 10
    City Index
    Currency index: USD
    Ratings
    4.2 / 5
    3.8 / 5
    4.5 / 5
    3.8 / 5
    4 / 5
    4 / 5
    4.3 / 5
    4.3 / 5
    3.8 / 5
    3.1 / 5
    $0
    0.01 Lots
    1:30 (Retail), 1:50 (Accredited Investor), 1:200 (Sophisticated Investor), 1:300 (Wholesale Investor), 1:400 (Professional Trader). Varies with jurisdiction.
    FCA, ASIC, CySEC, MAS
    CFDs, Forex, Stocks, Indices, Commodities, Crypto, Futures, Options, Bonds, Interest Rates,ETFs,Spread Betting
    Web Trader, MT4, TradingView, TradingCentral
    Wire Transfer, Mastercard, Credit Card, Debit Card, Visa, Maestro
    USD, EUR, GBP, AUD, PLN, CZK
    Go To City Index

Here is a short overview of each broker's pros and cons

  1. AvaTrade - Established in 2006, AvaTrade is a leading forex and CFD broker trusted by over 400,000 traders. Operating under regulation in 9 jurisdictions, AvaTrade processes an impressive 2+ million trades each month. Through like MT4, MT5, and its proprietary WebTrader, the broker provides a growing selection of 1,250+ instruments. Whether it’s CFDs, AvaOptions, or the more recent AvaFutures, short-term traders at all levels will find opportunities. With terrific education and 24/5 multilingual customer support, AvaTrade delivers the complete trading experience.
  2. XM - XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted broker has been delivering low trading fees across its growing roster of 1000+ instruments. It’s also highly regulated, including by ASIC and CySEC and offers a comprehensive MetaTrader experience.
  3. Exness - Established in 2008, Exness has maintained its position as a highly respected broker, standing out with its industry-leading range of 40+ account currencies, growing selection of CFD instruments, and intuitive web platform complete with useful extras like currency convertors and trading calculators.
  4. Pepperstone - Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for day traders at all levels.
  5. Eightcap - Eightcap is a multi-regulated forex and CFD broker established in Australia in 2009. The broker has proven popular with active day traders, providing 800+ instruments with tight spreads and notable improvements in recent years, integrating the leading TradingView platform, alongside AI-powered financial calendars and algo trading tools with zero coding experience required.
  6. eToro - eToro is a top-rated multi-asset platform which offers trading services in thousands of CFDs, stocks and cryptoassets. Launched in 2007, the brand has millions of active traders globally and is authorized by tier one regulators, including the FCA and CySEC. The brand is particularly popular for its comprehensive social trading platform. Crypto Trading is offered via eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. CFDs are not available in the US Cryptoasset investing is highly volatile and unregulated in the UK and some EU countries. No consumer protection. Tax on profits may apply. 51% of retail accounts lose money.
  7. Vantage - Founded in 2009, Vantage offers trading on 1000+ short-term CFD products to over 900,000 clients. You can trade Forex CFDs from 0.0 pips on the RAW account through TradingView, MT4 or MT5. Vantage is ASIC-regulated and client funds are segregated. Copy traders will also appreciate the range of social trading tools.
  8. FxPro - Established in 2006, FxPro has emerged as a trusted non-dealing desk (NDD) broker offering trading on over 2,100 markets to more than 2 million clients worldwide. It has scooped over 100 industry awards and counting for its competitive conditions for active traders.
  9. CMC Markets - Established in 1989, CMC Markets is a respected broker listed on the London Stock Exchange and authorized by several tier-one regulators, including the FCA, ASIC and CIRO. More than 1 million traders from around the world have signed up with the multi-award winning brokerage.
  10. City Index - Established in 1983 and now a part of the Nasdaq-listed StoneX Group, City Index is a renowned and award-winning broker specializing in forex, CFDs, and spread betting. Offering over 13,500 instruments, an evolving Web Trader platform, top-tier educational resources, and 24/5 customer support, City Index delivers a comprehensive trading experience.

Brokers With US Dollar Index Comparison

Brokers With US Dollar Index Comparison
Broker Currency Indices Minimum Deposit Platforms Regulator
AvaTrade logo
USD $100 WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade ASIC, CySEC, FSCA, ISA, CBI, FSA, FSRA, BVI, ADGM, CIRO, AFM
XM logo
USD $5 MT4, MT5, TradingCentral ASIC, CySEC, DFSA, IFSC
Exness logo
USD $10 Exness Trade App, Exness Terminal, MT4, MT5, TradingCentral CySEC, FCA, FSCA, CMA, FSA, CBCS, BVIFSC, FSC, JSC
Pepperstone logo
USD, EUR, JPY $0 MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
Eightcap logo
USD $100 MT4, MT5, TradingView ASIC, FCA, CySEC, SCB
eToro logo
USD $100 eToro Web, CopyTrader, TradingCentral FCA, ASIC, CySEC, FSA, FSRA, MFSA, CNMV, AMF
Vantage logo
USD $50 ProTrader, MT4, MT5, TradingView, DupliTrade FCA, ASIC, FSCA, VFSC
FxPro logo
USD $100 FxPro Edge, MT4, MT5, cTrader, AutoChartist, TradingCentral, DupliTrade FCA, CySEC, FSCA, SCB, FSA
CMC Markets logo
USD, EUR, GBP, JPY, CAD, AUD, NZD, CHF $0 Web, MT4 FCA, ASIC, MAS, CIRO, BaFin, FMA, DFSA
City Index logo
USD $0 Web Trader, MT4, TradingView, TradingCentral FCA, ASIC, CySEC, MAS

AvaTrade

"AvaTrade offers active traders everything they need: an intuitive WebTrader, powerful AvaProtect risk management, a smooth 5-minute sign-up process, and dependable support you can rely on in fast-moving markets."

Jemma Grist, Reviewer

AvaTrade Quick Facts

Bonus Offer20% Welcome Bonus up to $10,000
Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures
RegulatorASIC, CySEC, FSCA, ISA, CBI, FSA, FSRA, BVI, ADGM, CIRO, AFM
PlatformsWebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
Minimum Deposit$100
Minimum Trade0.01 Lots
Leverage1:30 (Retail) 1:400 (Pro)
Account CurrenciesUSD, EUR, GBP, CAD, AUD

Currency Indices

AvaTrade only allows for trading on the USD currency index.

Pros

  • Support at AvaTrade performed excellently during testing, with response times of 3 minutes and localized support in major trading jurisdictions, including the UK, Europe and the Middle East.
  • AvaTrade continues to enhance its suite of products, recently through AvaFutures, providing an alternative vehicle to speculate on over 35 markets with low day trading margins.
  • The WebTrader excelled in our hands-on tests, sporting a user-friendly interface for beginners, complete with robust charting tools like 6 chart layouts and 60+ technical indicators.

Cons

  • AvaTrade’s WebTrader has improved, but work is still needed in terms of customizability – frustratingly widgets like market watch and watchlists can’t be hidden, moved, or resized.
  • Although the deposit process itself is smooth, AvaTrade still doesn’t facilitate crypto payments, a feature increasingly offered by brokers like TopFX, which caters to crypto-focused traders.
  • While signing up is a breeze, AvaTrade lacks an ECN account like Pepperstone or IC Markets, which provides the raw spreads and ultra-fast execution many day traders are looking for.
Visit AvaTrade
AvaTrade Review

XM

"With a low $5 minimum deposit, advanced charting platforms in MT4 and MT5, expanding range of markets, and a Zero account offering spreads from 0.0, XM provides all the essentials for active traders, even earning our ‘Best MT4/MT5 Broker’ award in recent years."

Christian Harris, Reviewer

XM Quick Facts

Bonus Offer$30 No Deposit Bonus When You Register A Real Account
Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Commodities, Indices, Thematic Indices, Precious Metals, Energies
RegulatorASIC, CySEC, DFSA, IFSC
PlatformsMT4, MT5, TradingCentral
Minimum Deposit$5
Minimum Trade0.01 Lots
Leverage1:1000
Account CurrenciesUSD, EUR, GBP, JPY

Currency Indices

XM only allows for trading on the USD currency index.

Pros

  • XM’s customer support has delivered over years of testing, with 24/5 assistance in 25 languages, response times of <2 minutes and now a growing Telegram channel.
  • XM stands out for its commitment to trader education, with a wealth of well-presented resources, including webinars, tutorials, and even real-time trading sessions through XM Live.
  • XM’s Zero account is ideal for day trading with spreads from 0.0 pips, 99.35% of orders executed in <1 second, and no requotes or rejections.

Cons

  • XM is falling behind the curve by not offering cTrader and TradingView which are increasingly being favored over MetaTrader for their smoother user experience and superior charting packages.
  • While the XM app stands out for its usability and exclusive copy trading products, the selection of technical analysis tools needs to be improved to meet the needs of advanced traders.
  • Although trusted and generally well-regulated, the XM global entity is registered with the weak IFSC regulator and UK clients are no longer accepted, reducing its market reach.
Visit XM
XM Review

Exness

"After slashing its spreads, improving its execution speeds and support trading on over 100 currency pairs with more than 40 account currencies to choose from, Exness is a fantastic option for active forex traders looking to minimize trading costs."

Christian Harris, Reviewer

Exness Quick Facts

Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, Crypto
RegulatorCySEC, FCA, FSCA, CMA, FSA, CBCS, BVIFSC, FSC, JSC
PlatformsExness Trade App, Exness Terminal, MT4, MT5, TradingCentral
Minimum Deposit$10
Minimum Trade0.01 Lots
Leverage1:Unlimited
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, MYR, IDR, DKK, CHF, HKD, SGD, AED, SAR, HUF, BRL, NGN, THB, VND, UAH, KWD, QAR, KRW, MXN, KES, CNY

Currency Indices

Exness only allows for trading on the USD currency index.

Pros

  • Exness Terminal offers a streamlined experience for beginners with dynamic charts while setting up watchlists is a breeze.
  • Exness was the first brokerage to pass the $1 trillion and $2 trillion marks in monthly trading volumes, highlighting its legitimacy.
  • Fast and dependable 24/7 multilingual customer support via telephone, email and live chat based on hands-on tests.

Cons

  • MetaTrader 4 and 5 are supported, but TradingView and cTrader still aren’t despite rising demand from active traders and integration at alternatives like Pepperstone.
  • Retail trading services are unavailable in certain jurisdictions, such as the US and the UK, limiting accessibility compared to top-tier brokers like Interactive Brokers.
  • Apart from a mediocre blog, educational resources are woeful, especially compared to category leaders like IG which provide a more complete trading journey for newer traders.
Visit Exness
Exness Review

Pepperstone

"Pepperstone stands out as a top choice for day trading, offering razor-sharp spreads, ultra-fast execution, and advanced charting platforms for experienced traders. New traders are also welcomed with no minimum deposit, extensive educational resources, and exceptional 24/7 support."

Christian Harris, Reviewer

Pepperstone Quick Facts

Demo AccountYes
InstrumentsCFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting
RegulatorFCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
PlatformsMT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade
Minimum Deposit$0
Minimum Trade0.01 Lots
Leverage1:30 (Retail), 1:500 (Pro)
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD

Currency Indices

Pepperstone offers trading on these 3 currency indices: USD, EUR, JPY

Pros

  • There’s support for a range of industry-leading charting platforms including MT4, MT5, TradingView, and cTrader, catering to various short-term trading styles, including algo trading.
  • Pepperstone emerges as a low-cost broker, especially for serious day traders with spreads from 0.0 in the Razor account and rebates of 25%+ through the Active Trader program.
  • Now offering spread betting through TradingView, Pepperstone provides a seamless, tax-efficient trading experience with advanced analysis tools.

Cons

  • Despite enhancements to its range of markets, crypto offerings are relatively limited compared to other brokers such as eToro, with no option to invest in real coins.
  • Pepperstone does not support cTrader Copy, a popular copy trading feature built into the excellent cTrader platform and available at alternatives like IC Markets, though it has introduced an intuitive copy trading app.
  • Pepperstone’s demo accounts are active for only 30 days, which may not be not long enough to familiarize yourself with the different platforms and test trading strategies.
Visit Pepperstone
Pepperstone Review

Eightcap

"Eightcap delivers in every area for day traders with a growing selection of charting platforms, education via Labs, and AI-powered tools. Now sporting 120+ crypto CFDs, it's also become a stand-out choice for crypto trading, winning our 'Best Crypto Broker' award two years in a row."

Christian Harris, Reviewer

Eightcap Quick Facts

Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, Crypto
RegulatorASIC, FCA, CySEC, SCB
PlatformsMT4, MT5, TradingView
Minimum Deposit$100
Minimum Trade0.01 Lots
Leverage1:500
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, SGD

Currency Indices

Eightcap only allows for trading on the USD currency index.

Pros

  • Eightcap stands out with a selection of powerful trading tools and resources, including MT4 and MT5, the innovative algorithmic trading platform Capitalise.ai, and more recently the 50-million strong social trading network TradingView.
  • After bolstering its roster in 2021, Eightcap offers one of the most extensive selections of cryptocurrency CFDs in the market, with crypto/fiat pairs, crypto/crypto pairs, plus crypto indices for broader exposure to the market.
  • With tight spreads from 0 pips, low commission fees, and high leverage up to 1:500 for certain clients, Eightcap provides cost-effective and flexible trading conditions that can accommodate an array of strategies, including day trading and scalping.

Cons

  • Eightcap needs to continue bolstering its suite of instruments to match category leaders like Blackbull Markets with its 26,000+ assets, featuring a particularly weak selection of commodities.
  • In spite of an increasing variety of tools, Eightcap doesn't offer industry favorites like Autochartist or Trading Central, which offer cutting-edge charting analytics, live news, and market insights for short-term traders.
  • The demo account expires after 30 days and can only be extended upon request - a notable inconvenience compared to the likes of XM with its unlimited demo mode.
Visit Eightcap
Eightcap Review

eToro

"eToro's social trading platform leads the pack with a terrific user experience and active community chat that can help beginners find opportunities. There are also competitive fees on thousands of CFDs and real stocks, plus excellent rewards for experienced strategy providers."

Christian Harris, Reviewer

eToro Quick Facts

Demo AccountYes
InstrumentsStocks, ETFs, Options, Crypto
RegulatorFCA, ASIC, CySEC, FSA, FSRA, MFSA, CNMV, AMF
PlatformseToro Web, CopyTrader, TradingCentral
Minimum Deposit$100
Minimum Trade$10
Account CurrenciesUSD, EUR, GBP

Currency Indices

eToro only allows for trading on the USD currency index.

Pros

  • Exciting investment portfolios are available covering traditional market trends as well as tech, crypto and more
  • eToro is a world-renowned brand with top-tier global regulation and a 25M+ user community
  • The broker's services are great for beginners, with commission-free stock trading, a low minimum deposit and an unlimited demo

Cons

  • The lack of additional charting platforms like MT4 will reduce the appeal for seasoned day traders accustomed to using third-party software
  • Traders will face currency conversion fees for account denominations other than USD
  • There are no guaranteed stop loss orders which would be a useful risk management feature for beginners
Visit eToro
eToro Review

Vantage

"Vantage remains an excellent option for CFD traders seeking a tightly-regulated broker with access to the reliable MetaTrader platforms. The fast sign-up process and $50 minimum deposit make it very straightforward to start day trading quickly."

Jemma Grist, Reviewer

Vantage Quick Facts

Bonus Offer50% Welcome Deposit Bonus, earn redeemable rewards in the Vantage Rewards scheme
Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds
RegulatorFCA, ASIC, FSCA, VFSC
PlatformsProTrader, MT4, MT5, TradingView, DupliTrade
Minimum Deposit$50
Minimum Trade0.01 Lots
Leverage1:500
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, JPY, HKD, SGD, PLN

Currency Indices

Vantage only allows for trading on the USD currency index.

Pros

  • There are no short-term strategy restrictions with hedging and scalping permitted
  • It’s quick and easy to open a live account – taking less than 5 minutes
  • Vantage caters to hands-off investors with beginner-friendly social trading via ZuluTrade & Myfxbook

Cons

  • It's a shame that some clients will need to register with the offshore entity, which offers less regulatory protection
  • The average execution speeds of 100ms to 250ms are slower than alternatives based on tests
  • Unfortunately, cryptos are only available for Australian clients
Visit Vantage
Vantage Review

FxPro

"FxPro is a stellar option for day traders, sporting exceptionally fast execution speeds under 12ms, competitive fees that were lowered in 2022, and terrific charting platforms in MT4, MT5, cTrader and FxPro Edge."

Christian Harris, Reviewer

FxPro Quick Facts

Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, Futures
RegulatorFCA, CySEC, FSCA, SCB, FSA
PlatformsFxPro Edge, MT4, MT5, cTrader, AutoChartist, TradingCentral, DupliTrade
Minimum Deposit$100
Minimum Trade0.01 Lots
Leverage1:30 (Retail), 1:500 (Pro), 1:1000 (Via Prime Ash Capital Limited)
Account CurrenciesUSD, EUR, GBP, AUD, JPY, ZAR, CHF, PLN

Currency Indices

FxPro only allows for trading on the USD currency index.

Pros

  • FxPro offers four reliable charting platforms, notably the intuitive FxPro Edge, with over 50 indicators, 7 chart types and 15 chart timeframes.
  • FxPro's Wallet is a standout feature that allows traders to manage funds securely. By segregating unused funds from active trading accounts, the Wallet provides additional protection and convenience.
  • FxPro operates under a 'No Dealing Desk' (NDD) model, ensuring fast and transparent order execution, often under 12 milliseconds, ideal for short-term trading strategies.

Cons

  • There are no passive investment tools like copy trading or interest paid on cash. While active traders may not miss these, competitors like eToro catering to active and passive investors have more comprehensive offerings.
  • Despite a growing Knowledge Hub and a $10M funded demo account, FxPro is geared towards advanced traders, with beginners potentially finding the account and fee structure complex.
  • While FxPro provides 24/5 customer support through multiple channels that performed well during testing, it lacks 24/7 availability, which can disadvantage traders needing assistance outside traditional market hours.
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FxPro Review

CMC Markets

"With advanced charting tools and an extensive range of tradable CFDs, including an almost unrivalled selection of currencies and custom indices, CMC Markets provides a fantastic online platform for traders of all levels. "

Christian Harris, Reviewer

CMC Markets Quick Facts

Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, ETFs, Treasuries, Custom Indices, Spread Betting
RegulatorFCA, ASIC, MAS, CIRO, BaFin, FMA, DFSA
PlatformsWeb, MT4
Minimum Deposit$0
Minimum Trade0.01 Lots
Leverage1:30 (Retail), 1:500 (Pro)
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, SEK, NOK, SGD, PLN

Currency Indices

CMC Markets offers trading on these 8 currency indices: USD, EUR, GBP, JPY, CAD, AUD, NZD, CHF

Pros

  • CMC offers excellent pricing, including tight spreads and low trading fees for all but stock CFDs. The Alpha and Price+ schemes also offer perks for active traders with up to 40% discounts on spreads.
  • The web platform delivers a fantastic user experience with advanced charting tools for day trading and customizable features, catering to both beginners and experienced traders. MT4 (but not MT5) is also supported.
  • CMC Markets is heavily regulated by reputable financial authorities and maintains its stellar reputation, helping to ensure a secure and trustworthy trading environment.

Cons

  • The CMC Markets app offers the complete trading package but the design and user experience trails category leaders like eToro.
  • An inactivity fee of $10 per month is applied after 12 months of inactivity, which may deter casual investors.
  • Trading stock CFDs incurs a relatively high commission, especially compared to the cheapest brokers like IC Markets.
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CMC Markets Review

City Index

"City Index is a great match for active traders, with ultra-fast execution speeds averaging 20ms, a highly customizable web platform featuring 90+ technical indicators, and some of the best education we’ve seen."

Christian Harris, Reviewer

City Index Quick Facts

Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, Crypto, Futures, Options, Bonds, Interest Rates,ETFs,Spread Betting
RegulatorFCA, ASIC, CySEC, MAS
PlatformsWeb Trader, MT4, TradingView, TradingCentral
Minimum Deposit$0
Minimum Trade0.01 Lots
Leverage1:30 (Retail), 1:50 (Accredited Investor), 1:200 (Sophisticated Investor), 1:300 (Wholesale Investor), 1:400 (Professional Trader). Varies with jurisdiction.
Account CurrenciesUSD, EUR, GBP, AUD, PLN, CZK

Currency Indices

City Index only allows for trading on the USD currency index.

Pros

  • City Index is regulated by top-tier authorities like the FCA (UK), ASIC (Australia), and MAS (Singapore), while its ownership by StoneX Group Inc., a listed company, further reinforces its credibility.
  • City Index has made strides to enhance the trading experience, notably through its Performance Analytics in 2024 for insights into trades and discipline, plus an upgraded mobile app featuring in-built market research and news at a swipe.
  • City Index provides versatile trading platforms for all skill levels. The intuitive Web Trader platform is ideal for beginners, while support for MetaTrader 4 (MT4) and TradingView adds robust analysis and automation features, ensuring a flexible experience for traders of all levels.

Cons

  • Unlike brokers such as AvaTrade and BlackBull, City Index does not provide passive investment opportunities like social copy trading, or real stock or ETF ownership, making it less appealing for hands-off trading.
  • City Index lacks an Islamic account with swap-free trading conditions, making the broker less appealing to Muslim traders compared to providers like Eightcap and Pepperstone.
  • While many brokers like eToro have expanded their crypto offerings, City Index only provides crypto CFDs, and the limited range may not satisfy traders looking for a broader selection of altcoins.
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City Index Review

Methodology

To identify the best trading platforms with USDX, we examined our database of 216 online brokers and pinpointed all those that facilitate trading on the US Dollar Index.

We then ranked them by their overall rating, blending over 100 data entries with our direct observations during testing. This revealed the trading platforms that go the extra mile for traders interested in the US Dollar index.

  • We only recommended brokers that have earned our trust.
  • We prioritized brokers with competitive trading fees.
  • We checked each broker has correlating markets to the USDX.
  • We ensured each broker offers excellent charting platforms.
  • We examined each broker’s leverage and margin requirements.

DayTrading.com broker testing methodology overview

How To Choose A Broker With The US Dollar Index

There are several factors we, and you, should consider when choosing a broker for US Dollar Index trading:

Choose A Trustworthy Broker

An established, regulated broker will help protect you from trading scams.

This is important given that the Commodity Futures Trading Commission (CFTC) has warned against the increase in foreign currency fraud in recent years, publishing tips on identifying potential signs of a scam. For example, fraudsters may use persuasion techniques to convince traders of ‘guaranteed’ gains and create a false sense of urgency to invest.

This is why we always verify the regulatory credentials of each broker that we test and assign each broker a score from 1 to 5 for ‘Regulation & Trust’, helping to keep your funds secure when trading the USDX and other financial markets.
author image
Jemma Grist
Author
  • AvaTrade is highly trusted, with an excellent record spanning 15+ years and licenses from multiple ‘green tier’ authorities. It also offers robust safeguards, including negative balance protection, segregated accounts and a bespoke risk management tool, AvaProtect with up to $1M in insurance against trading losses.

Choose A Broker With Competitive Fees

Brokers with low trading fees on the USDX will help you maximize returns, especially for active traders.

That’s why we evaluate spreads, commissions and other charges when examining brokers, including recording fees on correlating markets, such as the EUR/USD.

We then assess non-trading fees, such as deposit/withdrawal charges, and weigh these against the overall service provided.

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Some traders may be willing to pay more for expert analysis and insights into interest rate decisions from the Federal Reserve Board, which can impact the US Dollar Index.
  • Pepperstone continues to lead in this category, with spreads averaging 6.00 pips on the US Dollar Index and 0.10 pips on EUR/USD, plus access to a fantastic economic calendar for tracking financial announcements.

Choose A Broker With Correlating Markets

Traders may also be interested in a broker that provides access to other currencies within the USDX basket, providing alternative trading opportunities.

For example, the EUR/USD, which is available at all of our recommended brokers, is typically inversely related to the US Dollar Index.

Additionally, currency pairs where USD is the base or quote currency can also indicate a correlation with the USDX, such as USD/JPY or GBP/USD.

Other markets may also be of interest to USDX traders, such as commodities like gold (gold is quoted in dollars) as well as bonds (which are impacted by yield rates against the USD).

Infographic showing additional assets that may be of interest to USDX traders
Markets potentially related to the US Dollar Index
  • IG is our top pick if you’re looking to trade the USDX alongside other relevant markets, including US bonds, gold, and USD currency pairs. I also love that you can follow announcements from the Federal Reserve Meeting in almost real-time through IG’s live market coverage.

Choose A Broker With Excellent Platforms

Day traders speculating on the US Dollar Index will require a broker that offers a powerful charting platform to perform technical analysis.

Most brokers we test offer the MetaTrader 4 and MetaTrader 5 platforms. That said, I find the seamless navigation and integrated tools in TradingView far more appealing for active traders.

For example, you can use the integrated forex screener to analyze relevant currency pairs alongside your USDX chart, as you can see below.

TradingView platform showing USDX chart and USD forex screener
TradingView

Since the USDX is a popular macro indicator for the strength of the US Dollar, having access to excellent market research services like Trading Central can also be a value-add.

You may want a broker that provides interest rate updates from the Federal Reserve, as well as other relevant Central Banks, notably the European Central Bank as the EUR forms the largest weighting in the US Dollar Index.

  • XM offers a superb selection of charting platforms for USDX traders, including MT4 and MT5. However, where it shines is its fantastic research tools, with trade ideas, technical summaries and news where you can search specifically for the US Dollar Index.

Choose A Broker With Clear Margin Requirements

Day traders, in particular, often trade the US Dollar Index with leverage, allowing them to maximize their potential gains using a small outlay.

This makes it important to choose a broker with clear margin requirements so you know what’s needed and what it costs, to borrow funds.

Crucially, brokers regulated by ‘green tier’ authorities like the FCA and CySEC cap leverage for retail investors at 1:30.

This means that if I were to put down $100 for a USDX CFD, the value of my position would be $3,000 (30 x $100).

This means both my profits and losses will be multiplied by 30. As such, I recommend using risk management tools like stop-loss orders to close positions before large losses can accumulate.

author image
Jemma Grist
Author
  • eToro offers leverage up to 1:10 on the US Dollar Index, with transparent margin requirements clearly displayed in the platform. You can also quickly and easily set stop loss and take profit parameters, while its social trading platform is world-leading and used for real-money trading by our team.

FAQ

Which Is The Best Broker With The US Dollar Index?

See our list of the best brokers with the USDX to find a suitable option based on your trading needs.

For example, Pepperstone offers some of the lowest fees on the USDX, while XM offers hourly technical summaries and sentiment data on the world’s most prominent currency index.

Article Sources

The writing and editorial team at DayTrading.com use credible sources to support their work. These include government agencies, white papers, research institutes, and engagement with industry professionals. Content is written free from bias and is fact-checked where appropriate. Learn more about why you can trust DayTrading.com