A stock index is essentially a number tracking the performance of a particular bundle of stocks, acting a key indicator of the strength of an associated economy or sector. The most prominent national stock indices, such as the FTSE 100, CAC 40 and DAX in Europe, tend to include the country’s biggest companies, with each stock’s contribution to the index weighted according to its size (market capitalisation).

Currency indices are a popular tool for forex traders. They measure direct changes in the value of a currency against a basket of other currencies. This differs from a typical currency pair which only involves two currencies. For example, the US dollar index measures the value of the US dollar against a basket of currencies, including the euro, yen, pound sterling, Canadian dollar, Swiss franc, and Swedish krona.

Currency index CFDs and spread bets provide traders with a broader approach to the forex market. For example, if you believe the US Dollar is likely to strengthen against multiple other currencies, then the US Dollar Index could help you gain that exposure without having to open positions on multiple USD pairs.

A forward contract is a financial arrangement where two parties agree to execute a transaction involving the purchase or sale of a specific asset at a predetermined date and price in the future. This contractual agreement is tailored to the participants' needs, allowing for flexibility in terms of the underlying asset, quantity, and settlement terms. 

The absence of a centralised exchange makes forwards incredibly versatile, unlike standardised futures contracts traded on exchanges, forwards are typically negotiated directly between the parties.

Forwards: Traded over-the-counter (OTC), directly between the two parties involved in the contract. These contracts are customizable and are privately negotiated between two parties. The terms, such as the quantity, price, and delivery date, are agreed upon individually. 

Futures: Traded on organised exchanges, such as the Chicago Mercantile Exchange (CME) or Eurex. Futures contracts are standardized and traded on organized exchanges. The terms of the contract, including the size of the contract and the delivery date, are predetermined by the exchange.

Trading hours are subject to change due to seasonal and market factors, but our standard hours are (GMT+3 when US DST is in place, GMT+2 at all other times): 

Currency indices standard trading hours (trading hours are subject to change due to seasonal and market factors): 

Futures/forwards standard trading hours (trading hours are subject to change due to seasonal and market factors): 

When companies pay out an amount per share in dividends, it usually causes the share price itself to fall by the same amount, reflecting the reduction in value to new investors once the dividend has been paid. 

If some of a stock index’s constituent companies pay dividends at the same time, this may affect the price of the index. The more heavily weighted the companies issuing dividends are within the index, the greater the potential impact on the price.  

We make sure that dividend adjustments like this don’t affect your index spread bet or CFD position by debiting or crediting your account with the amount incurred on the running profit or loss.