Forex Index Trading

Q: Is there an index for forex?

There isn’t a specific forex index on the market. However, we've created bespoke baskets of currency pairs, which allow you to speculate on the price movements of one currency pair against a basket of pairs. Our forex indices include the USD Index and GBP Index.

Q: How are forex indices weighted?

Our forex indices have a base level price of 1,000 (or 20,000 for the JPY Index), and the weighting of each component within an index is capped at 40% of the total trade volume. Learn more about forex indices

Q: Are any of your forex indices focused on emerging currencies?

We have one forex index that’s focused on emerging currencies, our CNH Index, as well as minor currencies including the NOK, SEK, and SGD.

Q: Is it free to open an account?

There's no cost to open a live trading account with us. You can also view prices and use tools such as charts, Reuters news, or Morningstar quantitative research equity reports, free of charge. You'll need to deposit funds in your account to place a trade.

Q: Is CMC Markets regulated?

Yes, CMC Markets UK plc (registration number 173730) is fully authorised and regulated by the Financial Conduct Authority (FCA) in the UK. Retail client money is held in segregated client bank accounts and money held on behalf of clients is distributed across a range of major banks, which are regularly assessed against our risk criteria.

Q: Is CMC Markets covered by the FSCS?

Yes, your eligible deposits with CMC Markets are protected up to a total of by the Financial Services Compensations Scheme (FSCS), the UK's deposit guarantee scheme. If CMC Markets ever went into liquidation, retail clients would have their share of segregated money returned, minus the administrator's costs in handling and distributing these funds. Any shortfall of funds up to may be compensated under the FSCS.

Q: How does CMC Markets segregate client money?

Under the FCA's Client Money rules, we're required to segregate client money (unless you agree with us otherwise) from CMC's own funds. The funds held in segregated bank accounts do not belong to CMC, and will be held in a way that enables it to be identified as client money. Learn more about client money regulations

Q: How does CMC Markets make money?

CMC Markets earns revenue through spreads and other applicable fees and charges. The fees and charges that apply may vary depending on the product and account type.

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Protected up to £85,000¹

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More than a forex trading platform

We've got your pair

More forex pairs than any other broker⁵ If you want it, we've probably got it.

Precision pricing

We combine multiple feeds from tier-one banks, to get you the most accurate bid/ask price.

Fast, 100% automated execution

Experience fully automated, lightning-fast execution³.

Exclusive instruments

Get exposure to multiple currencies in a single trade with our range of 12 forex indices.

Dedicated customer service

Experienced customer service available 24/5, whenever you're trading.

No partial fills

No dealer intervention – we don't reject or partially fill trades based on size.

How do forex indices work?

Our forex indices group individual FX pairs with the same base currency to make a forex 'basket'. The indices track the underlying prices of the currency pairs within that index. If the individual forex prices in that index increase, then the value of the index will go up. Conversely, if the individual FX prices decrease, then the value of that index will fall.

Trading forex indices as opposed to individual currencies can potentially be a more cost-effective and efficient way of trading, as it allows you to take a view on one area of the forex market, without having to open a position on each FX pair. It can be a good way to diversify your portfolio; for example, geopolitical issues could affect one currency pair in the index, while the others may remain unaffected. Forex indices can also be used to hedge any unfavourable moves in a particular currency and spread your risk, through exposure to a wider range of currencies rather than just one currency pair.

It's important to be aware that spread bets and CFDs are high-risk, speculative products. High volatility combined with leverage could lead to significant losses. As with any leveraged product, profits and losses are magnified as they are based on the full value of the position, not just your initial deposit on a trade. While you could profit if the market moves in your favour, you could also make a loss if the trade moves against you, particularly if you don't have adequate risk-management cover in place.

Forex trading explained

Exclusive to CMC

Major forex indices to trade

We offer 12 different forex indices. Each is made up of a range of currency pairs with the same base currency. So the CMC USD Index, for example, is made up of a collection of US dollar pairs. Our full range of forex indices is listed below.

CMC USD Index

A collection of currency pairs which share the US dollar as the base currency.

CMC GBP Index

A collection of currency pairs which share the British pound sterling as the base currency.

CMC EUR Index

A collection of currency pairs which share the euro as the base currency.

CMC AUD Index

A collection of currency pairs which share the Australian dollar as the base currency.

CMC CAD Index

A collection of currency pairs which share the Canadian dollar as the base currency.

CMC CHF Index

A collection of currency pairs which share the Swiss franc as the base currency.

CMC CNH Index

A collection of currency pairs which share the same base currency: the Chinese yuan.

CMC JPY Index

A collection of currency pairs which share the same base currency: the Japanese yen.

CMC NOK Index

A collection of currency pairs which share the same base currency: the Norwegian krone.

CMC NZD Index

A collection of currency pairs which share the same base currency: the New Zealand dollar.

CMC SEK Index

A collection of currency pairs which share the same base currency: the Swedish krona.

CMC SGD Index

A collection of currency pairs which share the same base currency: the Singapore dollar.

Forex index details

View the spreads, margin rates and trading hours for our 12 major forex indices in the table below.

Instrument	Spread	Margin rate	Trading hours
CMC USD Index	from 0.25pts	5%	00:00-22:00, Monday to Friday
CMC GBP Index	from 0.3pts	5%	00:00-22:00, Monday to Friday
CMC EUR Index	from 0.25pts	5%	00:00-22:00, Monday to Friday
CMC AUD Index	from 0.3pts	5%	00:00-22:00, Monday to Friday
CMC CAD Index	from 0.3pts	5%	00:00-22:00, Monday to Friday
CMC CHF Index	from 0.3pts	5%	00:00-22:00, Monday to Friday
CMC CNH Index	from 0.3pts	5%	00:00-22:00, Monday to Friday
CMC JPY Index	from 5pts	5%	00:00-22:00, Monday to Friday
CMC NOK Index	from 0.6pts	5%	00:00-22:00, Monday to Friday
CMC NZD Index	from 0.5pts	5%	00:00-22:00, Monday to Friday
CMC SEK Index	from 0.6pts	5%	00:00-22:00, Monday to Friday
CMC SGD Index	from 0.3pts	5%	00:00-22:00, Monday to Friday

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How our forex indices are weighted

Our forex indices were created with a base level price of 1,000 for the USD, GBP, EUR, AUD, NZD, CAD, CNH, CHF, SEK, NOK and SGD indices, and a base level price of 20,000 for the JPY index, as of 31 December 2018. The weighting of each index component is capped at 40% of the total trade volume.

INSTRUMENTS	USD	GBP	EUR	AUD	CAD	CHF	CNH	JPY	NOK	NZD	PLN	SEK	SGD
CMC USD Index		5.56	28.60	1.63	25.18	3.35	24.59	8.21	-	-	-	-	2.86
CMC GBP Index	21.91		40.00	-	3.26	3.91	17.90	2.73	7.94	-	-	2.35	-
CMC EUR Index	22.70	13.13		1.51	2.34	8.10	23.03	3.90	5.55	-	12.23	5.94	1.58
CMC AUD Index	11.20	1.94	12.51		-	1.39	40.00	24.91	-	2.66	-	-	5.40
CMC CAD Index	40.00	5.07	17.90	1.00		2.66	26.08	6.42	0.87	-	-	-	-
CMC CHF Index	23.84	7.05	40.00	1.44	3.09		17.41	3.33	-	-	-	-	3.86
CMC CNH Index	28.37	5.24	31.18	8.83	4.91	2.82		14.81	-	-	-	-	3.84
CMC JPY Index	24.94	2.10	14.55	11.02	3.18	1.42	38.97		-	-	-	-	3.82
CMC NOK Index	5.72	25.34	40.00	-	1.78	0.62	9.01	1.41		-	-	16.12	-
CMC NZD Index	14.11	3.06	12.63	15.45	1.92	-	39.21	8.77	-		-	-	4.83
CMC SEK Index	13.15	9.29	40.00	1.31	-	1.53	12.40	2.39	19.93	-	-		-
CMC SGD Index	25.37	3.20	18.05	6.96	1.01	4.80	29.48	11.13	-	-	-	-

Forex indices methodology [pdf]

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FAQs

New to forex index trading?

Is there an index for forex?

How are forex indices weighted?

Are any of your forex indices focused on emerging currencies?

New to CMC Invest?

Is it free to open an account?

Is CMC Markets regulated?

Is CMC Markets covered by the FSCS?

How does CMC Markets segregate client money?

How does CMC Markets make money?

Any questions?

Email us at

clientmanagement@cmcmarkets.co.uk

or call on +44 (0)20 7170 8200

We're available whenever the markets are open, from Sunday night through to Friday night.

¹XX

²Most Currency Pairs, Forex Brokers 2020 Awards

³0.009 seconds CFD median trade execution time on CMC Markets' web and mobile platforms, 1 April 2024-31 March 2025.

⁴Based on over 2 million unique user logins across CMC's trading and investing platforms, including partners, as at November 2025.

⁵Recent awards include: Best Spread Betting Broker, Good Money Guide Awards 2026; No.1 Most Currency Pairs & Best-in-class for Overall Excellence, MetaTrader, Mobile Trading App, Professional Trading, Research & TradingView, ForexBrokers.com Awards 2026; Best Broker for Active Traders, Professional Trader Awards 2025; Best Mobile Trading Platform and Best Spread Betting & CFD Education Tools, ADVFN International Financial Awards 2025; No.1 for Commissions & Fees, ForexBrokers.com Awards 2025.