How to Open Deriv Demo Account For Synthetic Indices (2024)

Demo trading is very important for beginners and experienced traders. Beginners use demo trading to get their hands strong in understanding the behavior of the market, practice what they have learned from the course they are taking, or gain familiarity with the process involved in order placement in the market instead of risking their real asset. Experienced traders, on the other hand, use demo accounts to test their new strategy to see if it works before using it to trade their real account.

As with every other type of market, you can practice demo trading on synthetic indices. In this post, I will show you how to create a Deriv demo account for synthetic indices trading.

Let's get started.

Here is a video tutorial on how to do this;

How to open synthetic indices demo account

Here are the steps to create a synthetic indices demo account on Deriv:

Step 1: Sign up for Deriv account

The first step is to visit the Deriv sign-up page. You will see a page that looks like this:

You can either sign up by entering your email and completing the email verification process or login using your Google account.

After signing up, you will see a page that looks like this:

By default, upon signing up, you will be credited with a $10,000 virtual fund. You can use this fund to trade options and multipliers within the D Trader's plartform.

Step 2: Create a Synthetic Indices DMT5 account.

Navigate to "trader's hub" by clicking on the "menu icon."

Then select “trader’s hub.” Select “Demo” and then switch from “option and multiplier” to CFDs.

Then scroll down and select the “get button” from the “Derived demo” section.

You will be asked to create a strong password for your synthetic index trading account.

Enter a password that you will remember.

Step 3: Copy your Dmt5 account Login Details

For you to enjoy a seamless trading experience, you need to connect your synthetic indices demo account to MT5. To begin, select the open button.

You will be presented with a page like this;

Then note down the login details. You will need it to connect your account to MT5.

Step 4: Connect your account to MT5.

You can follow the video below to connect your account to MT5 or continue reading;

Download the MT5 app, open it, and then tap on the “+” button.

Select “Deriv.com limited”, enter the login credential and then click on login.

You will see a success message, and the synthetic demo account will be added to your MT5 app.

That is all, you can now begin trading synthetic indices pairs like boom and crash indices, step indices and volatility indices right from your mt5 app.

Here is a video tutorial on how to trade synthetic indices on MT5;

Which app is used to trade synthetic indices?

There are a variety of apps that you can use to trade synthetic indices. You can use the MT5 app or the MT4 app. Depending on the synthetic index broker you are using, For instance, Deriv will allow you to trade synthetic indices on MT5. There are some synthetic brokers that have specific applications for trading synthetic indices, but most people use Deriv, which allows you to trade synthetic indices as CFDs on MT5.

Which Platform is Best for Synthetic Indices?

The best platform for trading synthetic indices is Deriv. Deriv is one of the synthetic indices brokers with pips as low as 0.05, and it offers multiple synthetic indices instruments for you to trade. Deriv also allows you to trade synthetic indices as CFDs on MT5. Popular synthetic indices that can be traded on Deriv include boom and crash, step indices, volatility indices, and so many other indices.

Can I Trade synthetic Indices like Forex?

Yes, some synthetic index brokers, like Deriv, will allow you to trade synthetic indices similarly to Forex by trading them as CFDs using popular technical analysis platforms like MT5. If you want to trade synthetic indices like Forex, you need to create a synthetic indices account with a synthetic indices broker (Deriv, for example) and then connect it to MT5.

Does TradingView Support Synthetic Indices?

Is Deriv legit?

Yes, Deriv is a legit broker. Deriv is regulated by several regulatory bodies, including the Malta Financial Services Authority (MFSA), the Labuan Financial Services Authority (Labuan FSA), the Vanuatu Financial Services Commission (VFSC), and the British Virgin Islands Financial Services Commission. In addition, Deriv has operated for more than 25 years in the financial market without any history of scamming traders or being compromised.

Which Broker is Best For Synthetic indices?

There are many forex brokers that offer synthetic indices, but the best among them is Deriv. Deriv allows you to trade multiple synthetic indices and other financial assets like currency pairs, cryptocurrency, stocks, and commodities, all in MT5. Other synthetic indices brokers alternatives to Deriv are XM, Perepstone, and AvaTrade.

Which Broker Has Volatility Indices?

There are many brokers that have volatility indices, but the most popular among them is Deriv. Deriv is one of the best brokers renowned for trading synthetic indices instruments like volatility indices, step indices, range break indices, and jump indices. Other brokers that have volatility indices include IG, Plus 500, and Perperstone.

Which broker has the volatility 75 index in Nigeria?

Deriv is the most popular broker used in trading the volatility 75 index in Nigeria. If you want to trade volatility 75 indices on Deriv, you need to open a synthetic indices account on Deriv and connect it to MT5.

Do Synthetic Indices have Trading Sessions?

No, synthetic index trading on Deriv does not have sessions. You can trade synthetic indices 24 hours a day and 7 days a week. This means that you can trade synthetic indices even on weekends when the forex market is closed.

Can I trade synthetic indices on Exness?

Although Exness has index instruments like the US Tech 100, S&P, and other popular indices, it does not have popular synthetic index pairs like volatility indices, boom and crash indices, or other synthetic index instruments.

Does Exness have Volatility index?

No, Even though Exness has indices instruments like the US Tech 100, S&P, and other popular indices, it does not offer volatility index instruments like volatility 75 indices, volatility 25 indices, and other volatility indices.