Synthetic indices are a form of market that is simulated and runs both on weekdays and on weekends. It is a simulated type of market that is not affected by fundamental factors like news.
To be profitable in synthetic indices trading, you just need to master technical analysis skill and have good psychology. This is unlike the forex market, which requires an extra bit of fundamental analysis.
In this post, I will be showing you how to add synthetic indices to the MT5 and start trading them.
Here is a video on how to add synthetic indices on MT5
How to Add Synthetic Indices on MT5
Here are steps to add synthetic indices pars on MT5
Step 1: Sign Up for a synthetic indices broker
There are many different brokers that offer synthetic indices market. But if you want the one that will allow you to trade popular indices like Boom and Crash, volatility indices, step indices, and jump indices, you will need to sign up with Deriv.
Deriv is a reliable broker that offers both the synthetic indices and forex markets with a good spread. Deriv has a proven record of security, reliability, and good customer support.
To sign up on Devi, visit their website, and you will see a page that looks like this:
After signing UP, you will see a page that looks like this;
Step 2: Verify your Deriv account
To verify your deriv account you will need an ID card. You can follow the short video below to verify your account
Step 3: Create a real account.
To be able to trade synthetic indices on Deriv, you need to create a real account and make your deposit. The one you created before by inputting your email is a demo account.
The video below shows how you can create a real deriv account and make your deposit.
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Step 4: Connect Your account to MT5
To connect your account to deriv, you can follow the video below, or continue reading.
To be able to Synthetic indices on MT5, you need to create a trading account inside your deriv account and add it to MT5.
Navigate to the top right corner of the page and expand the drop-down, from there select “Add” In the DMT 5 account section.
You will be prompted to choose a password for your synthetic index account.
After doing that, you can go ahead and copy your Deriv MT5 login ID. Select the “trade icon” to open the window where you will copy your MT5 login ID.
Switch To Real account and select the Trade Icon
Then copy your DMT5 ID. You will need it to connect your Deriv account to MT5.
After noting your DMT5 login details, you can proceed to connect the account to MT5.
Once you launch the MT5 app, you will see a page that looks like this
From the hamburger menu at the top left corner, select “Manage Account.” and tap on the “plus” icon.
In the search window that loaded up, search for “deriv” and select “deriv limited” from the search result.
Then select “login to existing account section”, enter your Deriv MT5 ID as you copied it, your password, and select server.
Select “login” and you will be taken to a page like this:
You can follow the video below to learn how to connect your to MT5
That is all you can start trading
