Deriv X Synthetic Indices Trading Platform Review

Deriv X Synthetic Indices Trading Platform Review

Trade Synthetic Indices 24/7 On A User Friendly Platform

  •  No Minimum Deposit
  •  Min Trade: 0.001 lots
  •  Leverage Up To 1000:1
  •  Crypto Funding
  •  User Friendly Platform
  •  85+ Indicators
Trade 35+ Synthetic Indices On An Intuitive Trading Platform

Deriv X Synthetic Account Review

Deriv (the rebranding of offers Synthetic Indices across a range of platforms, including MT5. Traders who want to trade these simulated markets on a web trader, are offered the MT5 or cTrader web traders. However traders may want to trade Synthetic Indices on a web trading platform aimed at those who plan and execute their own trades. Deriv provides this capability in the form of Deriv X, a trading platform to be found under the Deriv X tab in the 'Trader's Hub' on the Deriv platform. Deriv X is also available as a mobile app.

The trader can create a Deriv X account from the 'Trader's Hub'. The 'Trader's Hub', which is for CFD trading, also allows the trader to create MT5 and cTrader accounts, allowing them to trade Synthetic Indices using margin across a range of platform, from the powerful MT5 platform to the versatile cTrader to a modern, intuitive web trader (Deriv X). Deriv Sign-Up

What Synthetic Indices can be traded on Deriv X ?

Deriv X offers a similar complement of Synthetic Indices to that which can be found which can be found of MT5 or cTrader. On Deriv X, these may be found in the 'Trendy List' which appears when first logging in. The full complement is in the 'Derived Indices' List. This also includes CFDs based on real market. However the Synthetics (as they are named on the platform) are the DEX, DSI, Boom, Crash, Jump, RB and Vol Indices. So what are these exactly.

The Volatility Indices (Vol), simulate different level of market volatility and come in faster (1s) or slower update speeds. There are more Volatility Indices than other Synthetic types. The Jump Indices (Jump) are Volatility Indices which jump three times every hour.

The Range Break Indices (RB) break the range on average once every 100 attempts (RB 100) or 200 attempts (RB 200). The Crash Indices have on average one drop in the price series every 1000 ticks (Crash 1000), 500 ticks (Crash 500) or 300 ticks (Crash 300). The Boom Indices have on average one rise in the price series every 1000 ticks (Boom 1000), 500 ticks (Boom 500) or 300 ticks (Boom 300). The Step Index (Step) has an equal probability of going up or down with each step of 0.1.

The Drift Switching Indices (DFI 10, DFI 20 and DFI 30) simulate trends and the DEX Indices (DEX 600 UP, DEX 600 DOWN, DEX 900 UP, DEX 900 DOWN and DEX 1500 UP and DEX 1500 DOWN) simulate volatile conditions such as around news events.

Where are Derix X Synthetic Indices ?

Derix X Synthetic Indices are simulated markets (they use an algorithm to simulate different market conditions, such as volatility or rising or falling markets). As they are not based on real markets, they can be traded 24/7. Synthetic Indices are a mainstay of Deriv's platforms.

Deriv X, MT5 and cTrader are for trading Synthetic Indices on margin. Margin is down to around 0.1% (i.e. up to around 1000:1 leverage), but margin can be higher or lower for some Indices (the margin can be found from the info symbol for the market). Maximum leverage can be significantly lower in some regions.

Synthetic Indices trace out patterns on the chart, thus they may be analysed to the extent this possible using technical analysis. Deriv X provides 85+ technical indicators and a dedicated Technical Indicator tab, which applies an indicator automatically, along with a window with performance metrics. The trader can add indicators from the 'laboratory flask' icon to be found on the tab across the top of the chart.

A full set of performance metrics can be found from the Trading Dashboard tab. These include Risk/Reward Ratio, % Return and Max Drawdown. Fundamental analysis is to an extent implicitly available in terms of the capacity of the trader to choose an Index, for example one based on a certain level of volatility, however the markets do not reference any outside events, unlike real markets. Deriv Sign-Up

Demo accounts v Real accounts 

The trader can sign up with a $10,000 practice account (this is not real money) and then create a real account. To trade on the real account, the trader needs to deposit funds.

There is a wide range of deposit methods offered, which vary depending on the trader's region. These can include Bank Wire, Credit/Debit Cards, Skrill, Neteller, Fasapay, Perfect Money, WebMoney, Paysafecard, Jeton, STICPAY, Airtm, Help2Pay, PayLive and OnlineNaira.

Crypto denominated accounts may be available in some regions, thus the trader may fund for example a USD Coin account with USD Coin and then fund the Deriv X account from their Deriv USD account (USD Coin like Tether tracks the USD, thus it does not have the volatility of other Cryptos). If they are available, Bitcoin, Ethereum, Litecoin, Tether Omni and USD Coin accounts are offered.

The trader can switch between demo and real whenever they want, for example to take a break or test out ideas on demo. Deriv Demo

The Trading Journal

Traders are typically encouraged to create and maintain a trading journal. This can help the trader keep track of good and bad trades and why they were good or bad. Deriv X helpfully automatically creates a trading journal for the trader, available from the 'Trading Journal' tab. This shows in a clear manner, each trade tracked by various metrics. The trader can also tag each trade by tags such as 'Impulse' and 'News' driven trades. This is an innovative way to help the trader understand what they are trading and why.

Key Features Of Deriv X
FeatureDescriptionHow Might This Help
My Trading Account
The My Trading Account Tab brings up the markets available to trade as a list with features, as a list with buy/sell boxes and a chart
This makes it easy to see what markets are available and to place orders as well as providing a way to check the chart at the same time
How Might This Help
Trading Dashboard
This shows in clear, large fonts a set of key performance metrics, such as Risk/Reward Ratio, Win Rate, % Return and Max Drawdown
This is a helpful way for the trader to keep track of how well they are trading
How Might This Help
Technical Analysis
The Technical Analysis tab brings up a set of charts with technical indicators already overlaid. These can be added to or removed
It can be helpful for the trader to be able to go directly to a tab and see what the technicals say about the market.
How Might This Help

Why Deriv X Synthetic Indices ?

Synthetic Indices are a particular type of market as they are simulated and not based on real markets, except in the sense that they aim to simulate certain conditions and the trader may wish to utilise a user friendly web trader to try and make sense of them. Deriv X offers a well designed interface which separates out key parts of trading, namely analysis and performance, allowing the trader to flip between different way to understand what they are doing. There is a wide range of Synthetic Indices to trade simulating different market conditions with leverage up to 1000:1 (increasing leverage increases risk) and with no minimum deposit requirement. An MT5 and cTrader account account to trade Synthetic Indices on margin is available as well from the 'Trader's Hub' on the user friendly Deriv platform.