You have probably heard of the Dow Jones or the S&P, perhaps even Nasdaq. Originating in the USA, these are some of the biggest indices in the world. Indices are a representation of a group of stocks, from as few as ten to a hundred or more. Indices are an aggregate of the movement of a group of stocks, reflecting market conditions and from a broader perspective, an idea of how the economy of that specific country is doing.
With CFI, you can trade a diversified number of indices including US, European and Asian products. If you have a certain view on a specific stock market or the stocks of a region, indices are your instrument of choice as they allow you to have directional views on a large number of companies within one product, instead of buying or selling individuals stocks.
The advantage of cash indices is that they have no expiry date so you can hold them for a short period or an extended time. Furthermore, they replicate the hours of the future contracts that are traded on exchanges.