FDAX
The DAX 40 futures contract, listed on Eurex. Big tick value (€25 per point), deep book: an ideal order-flow playground, that very few prop firms offer.
The FDAX is Eurex's flagship future: it tracks the DAX 40, the index of Germany's 40 largest companies. One point is worth €25 (the Mini-DAX, FDXM, is €5), liquidity concentrates on the European session and the book is deep enough for liquidity walls and absorptions to read very cleanly on a heatmap. On the funded-account side it's a rarity: nearly all prop firms stop at CME, Phidias is among the very few opening Eurex.
In depth
The FDAX is the futures contract on the DAX 40 index, the benchmark of the German stock market, traded on Eurex. It's the signature niche of OrderFlowFutures: a deep, volatile European market rich in order flow opportunities, but one very few prop firms offer and most English-speaking communities ignore in favor of NQ and ES.
The FDAX has its specifics: a European session (open at 9am Paris time), sensitivity to eurozone and German macro releases, and a sizable contract, hence the Mini-DAX and Micro-DAX for more accessible sizes. Its liquidity concentrated in European hours makes it ideal for those who want to trade in the morning, even before the US open.
In practice, the FDAX reads very well with order flow: liquidity visibly stacks below and above the opens, and macro releases (German CPI, ZEW, ECB) create clean moves. We map the heatmap before 9am and watch for liquidity sweeps at the start of the session.
9:05am: a sell wall refills three times at the same price on the FDAX → likely session ceiling.
Approaching the FDAX as just a 'European NQ'. Its session, macro hours and contract size differ: trading the FDAX means knowing the eurozone calendar and adapting your size management (Mini/Micro), not copy-pasting Nasdaq reflexes.
Frequently asked
What's the difference between FDAX, Mini-DAX and Micro-DAX?
It's the same underlying (DAX 40) with decreasing contract sizes. The Micro-DAX lets you trade the same read with a much smaller risk per point: useful to start or to finely calibrate risk.
Which prop firms offer the FDAX?
They're rare, that's exactly the opportunity. Our comparator and the FDAX session journal track those that cover Eurex, including Phidias with DeepCharts.
When to trade the FDAX?
During the European session, around the open (9am Paris time) and on eurozone macro releases. Liquidity and volatility are concentrated there, often before the US open.
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