GER40 / DAX: Live Level, Point Values and the European Session Index
The DAX is the index for traders in European hours, and its futures point value is the largest in euro terms among the majors - a combination that punishes position sizes carried over from US indices.
GER40 is the German DAX index. The full futures contract (FDAX) is 25 euros per point and the mini (FDXM) is 5 euros, with CFD point values set by your broker. It is a European-session instrument: most of its movement happens between the Frankfurt open and the European close, with a second burst when New York arrives.
Germany 40 (GER40) right now
One point = 1 of price. A standard lot is 1 units at 1 per point, so pip value = pip size × contract size × lots. Figures assume a USD account; confirm the contract size with your broker.
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Open GER40 on the live desk (H1) → See what the desk does →Point values
| Instrument | Value per point |
|---|---|
| FDAX futures | €25 |
| FDXM mini | €5 |
| CFD (GER40 / DE40) | Broker-set, often €1 |
At 25 euros a point, a 60-point stop - unremarkable on this index - is 1,500 euros on one full contract. The mini and CFD exist for a reason.
A European-hours index
Unlike the US indices, the DAX does its work while London and Frankfurt are open. It reacts to euro-area data, ECB decisions and European earnings, then takes a second impulse from the US open. That makes it the natural index for traders in European time zones who cannot sit through the US session.
Chart Bound replays real historical tape, free, so you can learn this instrument's rhythm before any money is on it.
Play free, no signup →What drives it
- ECB policy and euro-area inflation.
- German industrial data and exporter earnings - it is a manufacturing-heavy index.
- Energy prices, which feed into European industrial costs.
- US index direction, especially after the New York open.
Sizing it
Account currency matters here: the contract is euro-denominated, so a USD account carries a conversion. Size from the stop with the tool above and confirm the point value your broker uses.
How far GER40 actually moves
Measured on the OANDA feed our charting desk runs on, 2026-01-06 to 2026-09-17 (180 completed daily bars). Recalculated every week.
| Average daily range | 379.1 points |
|---|---|
| Median day | 333.6 points |
| Widest day in the window | 1254.5 points |
| Quietest day | 140.0 points |
| Average as % of price | 1.525% |
| Widest weekday | Tuesday (398.5 points) |
| Busiest hour | 07:00 UTC, about 126.0 points in that hour (quietest 03:00, 43.6) |
The median is the middle day and the average is pulled up by a handful of violent ones, so size a stop against the median and expect the average to flatter you. Full table for every instrument, with the method, on average daily range by pair.
Frequently asked questions
What is one DAX point worth?
25 euros on the full FDAX futures contract and 5 euros on the FDXM mini. CFD point values are set by your broker.
When is the DAX most active?
European hours, from the Frankfurt open through the European close, with a second burst at the US open.
What moves the DAX?
ECB policy, euro-area and German data, exporter earnings, energy costs and the direction of US indices later in the day.
Is the DAX suitable for a small account?
The full contract is large at 25 euros a point. The mini or a small CFD size is usually the realistic instrument.
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