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Brokers With US Dollar Index

Written By

Jemma Grist

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.

» Jemma Grist Profile Page

Edited By

James Barra

Edited By

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.

» James Barra Profile Page

Fact Checked By

Michael MacKenzie

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.

» Michael MacKenzie Profile Page

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 1 trading platforms that offer the USDX:

Click a broker for details

1. 1

   
   Dukascopy
   Currency index: USD
   Go To Dukascopy

   Dukascopy Review

   New Customer Bonus Offer 10% Equity Bonus

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   Ratings

   Regulation & Trust 3.5 / 5

   Accounts & Banking 3.5 / 5

   Assets & Markets 3.8 / 5

   Fees & Costs 3 / 5

   Platforms & Tools 4.3 / 5

   Customer Support 4 / 5

   Research 4.5 / 5

   Education 3.5 / 5

   iOS App 4.6 / 5

   Android App 3.7 / 5

   ---

   Minimum Deposit $100

   Minimum Trade 0.01 Lots

   Leverage 1:200

   Regulator FINMA, JFSA, FCMC

   Instruments CFDs, Forex, Stocks, Indices, Commodities, Crypto, Bonds, Binary Options

   Platforms JForex, MT4, MT5

   Payment Methods Neteller, Wire Transfer, Mastercard, Skrill, Visa, Maestro, Credit Card, Debit Card, Apple Pay, Bitcoin Payments, Ethereum Payments

   Account Currencies USD, EUR, GBP, CAD, AUD, NZD, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, PLN, CZK, AED, SAR, HUF, MXN

   Go To Dukascopy

Here is a summary of why we recommend these brokers in February 2025:

1. Dukascopy - Established in 2004, Dukascopy Bank SA is a Swiss online bank and brokerage providing short-term trading opportunities on 1,200+ instruments, including binaries. A choice of accounts (JForex, MT4/5, Binary Options) and sophisticated platforms (JForex, MT4/MT5) deliver powerful tools and market data for active traders.

Brokers With US Dollar Index Comparison

Brokers With US Dollar Index Comparison

Broker	Currency Indices	Minimum Deposit	Platforms	Regulator
	USD	$100	JForex, MT4, MT5	FINMA, JFSA, FCMC

Dukascopy

"If you’re an experienced trader, Dukascopy provides the tools you need: JForex for algorithmic strategies, competitive spreads from 0.1 pips, leverage up to 1:200, and the peace of mind of using a Swiss-regulated bank and broker."

Christian Harris, Reviewer

Dukascopy Quick Facts

Bonus Offer	10% Equity Bonus
Demo Account	Yes
Instruments	CFDs, Forex, Stocks, Indices, Commodities, Crypto, Bonds, Binary Options
Regulator	FINMA, JFSA, FCMC
Platforms	JForex, MT4, MT5
Minimum Deposit	$100
Minimum Trade	0.01 Lots
Leverage	1:200
Account Currencies	USD, EUR, GBP, CAD, AUD, NZD, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, PLN, CZK, AED, SAR, HUF, MXN

Currency Indices

Dukascopy only allows for trading on the USD currency index.

Pros

• Dukascopy features some of the best research we’ve seen, even a professional TV studio in Geneva covering financial news, market analysis, and daily insights from professionals.
• Dukascopy offers tight spreads starting from 0.1 pips, leverage up to 1:200 (depending on the jurisdiction), and volume-based commissions that reward high-frequency traders.
• Dukascopy is regulated by the Swiss Financial Market Supervisory Authority (FINMA) as both a broker and a bank, ensuring top-tier financial security and adherence to strict standards.

Cons

• While Dukascopy provides some educational resources and 24/7 support, the complexity of its platforms and tools required extensive testing and may overwhelm newer traders.
• Some account types, such as the MT4/MT5 accounts, require a higher minimum deposit of $1,000, which may not be ideal for traders with smaller budgets.
• Dukascopy's withdrawal fees are higher than most competitors we’ve tested, particularly for bank wire transfers, which may deter traders who require frequent access to their funds.

Visit Dukascopy

Dukascopy Review

Methodology

To identify the best trading platforms with USDX, we examined our database of 219 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.

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.

Jemma Grist

Author

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.

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).

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.

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.

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.

Jemma Grist

Author

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.