How To Setup Deriv Synthetic Indices Account? - Step By Step Guide
Do you know why the Deriv Synthetic Indices account allows you to get boundless profits? Though the answer is simple, we will hunt it down in the next phase. Before everything, let us draw a strong background.
Hopefully, you have heard about the Deriv Platform. The platform is most suitable for beginners as they carry a tiny knowledge of trading. To dig down more, you can read our updated review on the Deriv platform, which will showcase the benefits of using it.
On the other hand, the Binary.com platform’s users can easily switch to this brand-new platform that offers lots more than the previous one.
The Synthetic Indices mainly allows you to trade contracts for difference (CFDs) on different platforms like Dtrader, DMT5 etc that mimic real-world movements. Also, you can trade this profitable asset class 24/7.
Let me explain more about the DMT5 account first before jumping to the principal part.Deriv Synthetic Indices
What Is Deriv MT5:
The full form of DMT5 is Deriv Meta Trader 5. Meta trader 5 is mainly a trading platform that is widely used by professional traders and beginners. However, if you a beginner, you must hold a clear concept before starting your trade.
You can read our MetaTrader-5 article that helps you acquire the platform’s basics and how it works.
From the Deriv home page, you will see the “Trade” button that showcases a small list of trading platforms. You can choose any of them, but experts highly recommend the mentioned one.
Yeah, you got us right. Must be, there are some incredible benefits attached. But what are these benefits that lead 80% of traders to choose this platform?
Stay with us till the end to know other magnificent advantages. We are starting with some major ones.
Why Trade With DMT5?
The primary benefit of using this platform is it will allow you to access multiple asset classes. Except this, you will also find notable strong points to gain something significant.
- Quick demo account sign-up
- 24/7 trading
- Licensed and regulated
- Flexible with multiple account types
- 100+ tradeable assets
If you still on the mission to overlook the benefits, we must say it will be a substantial loss for you. Because over 330K traders choose this platform without having a second thought. So, keep moving forward with them to find the light that you are searching for.
Let’s drag you into the significant part that we have shared with you.
The Basics Of Deriv Synthetic Indices
Do you know how many years people traded Synthetic Indices? You won’t believe it if you have zero knowledge of this trading type.
Over ten years, traders have been traded synthetic indices with a proven track record. And Deriv is one of the powerful platforms that offers transparency toward traders.
Fortunately, you will be able to practice trading these markets with a demo account. So, you can see them in action without risking any money.
On the other hand, many experts recommend newbies to add this to their trading toolbox. No matter which trading assets you will pick, this market will bring you the maximum profit.
Advantages Of Synthetic Indices
Do you know how much capital you need to invest in trading this market? One hundred dollars or 50 dollars?
None of these are right. Start trading with low capital is possible, so; anyone can give a kick start. On the other hand, this market is entirely favorable for automated traders. Automated traders will get continuous quotes without any gaps.
Here comes the most remarkable part that traders frequently wanted to know before picking the lime. Yeah, again, you got me right. We design the portion with various advantages.
So, these are:
- Deriv MT5 synthetic account offers high leverage and tight spreads
- Are not affected by world events, real-world market, and liquidity risks
- Trading synthetic indices on DTrader will help you to know your exact risk at the outset.
- No negative balance
- No subject to manipulation or fixing
- Ability to choose a range of synthetic markets with lower or higher risk-reward characteristics
- Synthetic indices are ideal for small and large traders.
Lastly, it is mandatory to mention that the Deriv platform already invested in heavy research & development before introducing this market in front of their existing and new clients.
Available Platforms To Trade Deriv Synthetic Indices
Deriv does not allocate one platform to trade Synthetic Indices. Traders can pick other platforms to trade this market. However, Meta Trader 5 platform is highly dedicated to Synthetic Indices.
At the same time, the platform notably offers an account named Synthetic Indices for traders.
Unfortunately, some selected countries may have restrictions on trading Synthetic Indices on MT5. There is no commission charged by the Deriv platform; however, traders have to pay a minimum swap rate for an overnight position.
Is DTrader Allows Trader To Trade Synthetic Index?
Yes, the trading platform allows traders to pick synthetic indices as their trading type. Moreover, the platform offers no nasty surprises or margin calls. So, trading through this platform is also profitable, like DMT5.
DTrader allows you to trade directly from the live chart. Choosing this platform also gives you a broader space to enjoy your daily profit list. You will have many choices starts from lower volatility to higher volatility.
You can enjoy the ups and downs of the trading market with strong money protection. That means if traders choose to trade digital options, there is a fixed payout and a fixed premium. So, it strictly limits the trading risk to your premium.
Are you worried about the contract length?
You will jump after hearing that you can also decide the length of the contract. The range mainly starts from ticks to seconds to days. With digital options, your trades settle automatically with no need to make a closing trade.
How To Setup The Deriv Synthetic Account (Demo)?
Before depositing, you need to open an account on the Deriv platform. Those who already have an account with a Binary.com broker can use the same credential to log into the dashboard.
However, to trade with DMT5, there are steps that you need to follow to set up the account. We are mentioned here to make your journey comfortable. However, the process is for demo account holders.
Those who want to open a real account, please follow the procedure that we will mention below. Or, you can top up the amount from your demo account.
~ Step 1:
After opening an account, a pop-up will appear on the screen where you can select your trading types. One is Margin trading, and another one is Options & Multipliers trading.
Select the Meta Trader 5 platform to finish the rest of the procedure.
~ Step 2:
A new dashboard will appear with a list of three types of accounts. Select the Synthetic account & click on the “Add demo account” button.
~ Step 3:
Choose a password for the demo Deriv MT5 Synthetic account. Remember, set a strong password to avoid any spam activities.
A unique Client ID will automatically create that you can use at your next login time.
~ Step 4:
A screen will show up from where you can top up to open a real account. Finally, the dashboard is ready for you to trade the most profitable trading market.
How To Setup The Real Deriv Synthetic Indices Account?
The opening procedure is just a cup of tea for traders. However, it is recommended to follow the process to avoid mistakes.
Here, we are not using any real data to showcase the line of action.
Moreover, no minimum deposit amount requires to open an account. On the other hand, the minimum trade size is 0.001.
Is Binary.com Allows Synthetic Indicies Trading?
Huh, without any second thought. Binary.com is the oldest trading platform before rebranding this as Deriv. So, trading with synthetic indices also possible through Binary.com.
However, they have recommended this for expert traders. However, because of regulatory requirements, synthetic indices are not available in
Australia, France, Germany, Greece, Italy, Luxembourg, Singapore, and Spain.
The MT5 platform has a wide range of trading tools & indicators that help traders analyze the market more precisely. At the same time, traders can trade the stimulated markets, which are available to trade 24/7.
After rebranding, the platform is showcasing various opportunities to investors and traders. Even you can enjoy both flexible & variable spread facilities.
The overall experience will be great unquestionably. So, start your first trade with the Deriv platform to trade the most widespread trading market.