Synthetic indices prop firms trading is proprietary funding that provides capital and support to traders who wish to trade a synthetic indices funded account. Prop firms allow traders to trade a variety of financial instruments, which include stocks, futures, options, and currencies at a competitive low cost. In recent years, prop firms for synthetic indices started offering traders the ability to trade synthetic indices with prop firms. The question of which prop firm offers synthetic indices will be addressed in this post.
Synthetic indices are financial instruments that simulate the performance of an underlying market index, such as the S&P 500 or the NASDAQ. Synthetic indices are created by the Deriv platform, using a mathematical algorithm that takes into account the performance of the underlying index, as well as other factors such as dividends and interest rates.
Traders can trade synthetic prop firms just like they would trade any other financial instrument, using technical analysis, fundamental analysis, and other trading strategies.
Is There a List of Prop Firms For Synthetic Indices
Synthetic indices trading is a popular instrument among traders, and many prop trading firms offer access to synthetic indices. However, finding a list of prop trading firms with synthetic indices can be challenging. Here we compared the top 3 prop firms for synthetic indices.
Top 3 Prop Firms For Synthetic Indices Trading
- Consummate Traders Synthetic Prop Firm
- FT9ja Synthetic prop firm
- The Rock Trader
1. Consummate Traders Synthetic Indices Prop Firm
Consummate Traders is one of the top 3 prop firms for synthetic indices. They are a relatively new prop firm that was founded in 2022. The firm offers traders the ability to trade a variety of financial instruments, including synthetic indices, stocks, futures, and options. Traders who join Consummate Traders can choose from a variety of trading platforms, including MetaTrader 4 and TradingView. If you are struggling to pass the challenge you can use an expert prop firm passing service. Please take a look at our list of best prop firms that support High Frequency Trading EAs for passing of challenge.
The Consummate Traders synthetic indices prop firm models come in three different account sizes, mainly a $5,000 balance for a $99 fee, a $10,000 balance for a $189 fee, and a $20,000 balance for a $249 fee. Each account comes with 2 phase challenge, a 5% daily drawdown, and a profit share of 70%. More details are in the next section.
You may follow here to sign up for Consummate Traders synthetic indices, but before you do make sure you read the Trustpilot user review section of this post below to know what other users are saying about Consummate Traders proprietary firm.
2. FT9ja Prop Firm
FT9ja is another synthetic prop firm that offers traders the ability to trade synthetic indices with prop firms. FT9ja claims to be a unique prop firm for synthetic indices trading with a funded account that is powered by Deriv.com. They also offer other financial instruments such as forex, stocks, futures, and options.
FT9ja.com is based in Nigeria and is focused on providing traders in Africa with access to global financial markets. FT9ja offers a prop firm for Deriv synthetic indices which is unique for those that trade on the Deriv platform. The challenge account balances are $3,000, %5,000, and $25,000 with fees in Nigerian Naira, 30,000, 45,000, and 180,000.
3. The Rock Traders (New update)
Therocktrader.com offers the Synthetic Pro Model (Beta). This program is aimed at traders who like to trade synthetic indices-funded accounts on the Deriv platform. The Rock Traders pro model package is an instant funding synthetic indices prop firm account
Rock Traders firm has three prop firms for Deriv synthetic indices account types: a $10,000 demo account for a £94 fee, a $25,000 demo account for a £135 fee, and a $50,000 demo account for a £278 fee. The prop firm for synthetic models has an 8% profit target and a 25% profit share.
Want more…? Traders who are interested in trading synthetic indices with a prop firm should do their research and choose a firm that is reputable, transparent and offers competitive fees and commissions. Traders should also make sure that the firm offers a robust trading platform, access to market data and research, and other resources that can help them succeed as traders.
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Finding List of Prop Firms for Synthetic Indices
If you’re looking to find prop trading firms that deal with synthetic indices there are methods you can try. One option is to search as there are websites that provide lists of prop trading firms and their offerings. For instance, our blog “Proprietary Trading Pros & Reviews” has compiled a list of prop trading firms that allow trading, in indices, including those that offer access to indices.Another approach is to reach out to traders who have experience with prop firms for synthetic indices. They can offer insights into the firms they’ve worked with and the instruments available. You can seek recommendations on trading forums or social media groups where traders gather.
Keep in mind that not all prop trading firms provide access to synthetic indices. It’s crucial to conduct research and ensure the firm you choose offers the instruments you’re interested, in trading. Additionally, be aware of the risks associated with trading synthetic indices with prop firms. Make sure you have a solid understanding of these instruments before diving in.
Consummate Traders Prop Firms For Synthetic Indices
Consummate Traders is a leading prop trading firm that offers traders the opportunity to trade synthetic indices. These indices mimic real-world market movement but aren’t affected by real-world events. They have constant volatility and are free of market and liquidity risks.
Prop Firm Evaluation at Consummate Traders
Traders wishing to access a funded account at Consummate Traders must undergo two evaluation phases to prove their trading skills. To pass the first phase and go on to the second step of the evaluation phase, traders must maintain a maximum daily drawdown of 5% and a maximum drawdown of 10% or less while trading on a demo account of the account package they paid for, with a profit target of 10% or more.
The Verification phase, the next step, provides traders with another demo account to use for trading. This time, in order to qualify for a funded account, the profit target must be met within 30 calendar days and must be attained without any violations, such as exceeding 5% daily drawdown and 10% maximum drawdown.
Consummate Traders offers three different trading models: Express Pro, Express Lite, and Evaluation. The Synthetics package, which allows traders to trade synthetic indices, is available in the Evaluation model. Traders who choose the Synthetics prop firm package have access to a variety of synthetic indices.
Consummate Traders Demo Free Trial account
Consummate Traders Demo free trial account allows traders to test the platform of the company, trade execution time, and do a whole lot of testing on the demo account before committing their money.
In summary, Consummate Traders is a prop firm for synthetic indices and other forex instruments, it offers traders the opportunity to trade with a large capital and a variety of trading models.
The Synthetics package is a great choice for traders who want to trade synthetic indices that are not affected by real-world events.
FT9ja Prop Firm for Synthetic Indices
FT9ja is a Nigerian prop firm that offers synthetic indices trading through the Deriv platform. It claims to be a next-generation proprietary trading firm built by Nigerian traders for Nigerians. The firm allows traders to trade CFD Forex, Crypto, Stocks, Commodities, and Synthetic indices from $3,000 up to $25,000 instant funded account.
FT9ja is a unique prop firm that offers synthetic indices trading, which is a new and innovative way of trading indices. Synthetic indices are financial instruments that simulate the performance of real-world markets. They are created using algorithms that mimic the behavior of real-world markets, and they allow traders to trade on the performance of those markets without actually owning any assets.
The FT9ja Discount and Referral Program
FT9ja offers discounts, coupon codes, and a referral program that allows traders to save and earn extra income by referring other traders to the firm. Use our unique code FT1950C to sign up for an account with FT9ja. The firm also has a community forum where traders can share their experiences and learn from each other.
In summary, FT9ja is a go-to prop firm for Nigerian traders who are interested in trading synthetic indices. It offers up to $25,000 funded accounts. The referral program and community forum are additional benefits that traders can take advantage of.
Consummate Traders vs FT9ja Which is the Best?
When it comes to prop firms for synthetic indices, two of the most talked-about entities are Consummate Traders and FT9ja. While both firms offer funding for synthetic traders, there are some differences between them which we are going to compare in this section.
1. Account Size and Fees
Consummate Traders offers a two-phase evaluation account with a minimum account size of $5,000. The evaluation fee ranges from $49 to $1,849 depending on the account size. Once a trader passes the evaluation, they can access a funded account with a minimum account size of $5,000. Consummate Traders charges a 30% profit split for the funded account.
On the other hand, FT9ja offers an instant funding no evaluation account with a minimum account size of $3,000 for ₦30,000 Once a trader signs up, they can access an instant funded account with a minimum account size of $3,000. FT9ja charges a 20% profit split for the funded account.
2. Leverage and Max Drawdown
Consummate Traders offers a leverage of up to 1:100 and a maximum daily drawdown of 5%. The maximum drawdown for the evaluation account is 10%.
FT9ja offers a leverage of up to 1:100 and a maximum daily drawdown of 5%. The maximum drawdown for the evaluation account is 10%.
3. Minimum Trading Days and Second Chance
Consummate Traders require a minimum of 7 trading days for the evaluation account. If a trader fails the evaluation, they can retake it.
FT9ja requires a minimum of 2 trading days per week and 10 trading days per month. A trader who blows the account can get 1 free retry.
4. User Ratings.
1. Consummate Traders User Ratings: The prop firm has an average Trustpilot rating of 3.7 stars with 23% of the total ratings being 1 star. The firm has been praised and as well, heavily criticized in the last few months with many of its users complaining about one issue or not, especially in the area of payouts.
Some common complaints of users include the prop firm opening trades in the back office against clients so as to breach the rules, failing to approve payouts, clients’ accounts being disabled during payout requests, and so on.
2. FT9JA User Ratings: The prop firm seems to enjoy better user ratings than Consummate Traders, with a 4.1 Trustpilot star rating out of which 9% are 1 star. The firm has been praised and criticized, with many users sharing their experience about the slow payout, the firm not being a registered company, and the position of its affiliation claims with the Deriv platform.
5. Bonus
Overall, both Consummate Traders and FT9ja offer funding for synthetic traders, but there are some differences in their account size, fees, leverage, max drawdown, and other requirements.
Traders who wish to trade synthetic indices with prop firms should carefully consider these factors before choosing a prop firm. They should also carry out their own research, check user reviews, and decide if these firms will give them what they want.
How Profitable are Synthetic Indices Prop Firms Trading
Synthetic indices prop firm trading is profitable for traders who have a solid understanding of synthetic volatile markets and a disciplined trading approach. Synthetic indices have tight spreads, are highly volatile, and are open on weekends. With these features, becoming profitable with synthetic indices prop firm trading is easier than with traditional forex.
Another potential advantage of trading synthetic indices with a prop firm is access to big capital. Compared to trading with personal money, this can let traders place bigger trades and possibly generate higher profits. However, it is crucial to keep in mind that the prop firm will normally take a portion of the trader’s gains, which might lower overall profitability.
Additionally, traders are able to trade a greater variety of simple products thanks to synthetic indices prop firm trading than would otherwise be possible. But it’s crucial to remember that there are risks involved with trading with a prop business. Traders are required to abide by the firm’s rules, which may restrict their trading tactics and possibly result in losses if not followed correctly.
In general, traders who are ready to take risks and adhere to the business’s guidelines can profit by trading synthetic indices with a prop firm.
The terms and conditions of trading on prop firms for synthetic indices should be carefully reviewed by traders before choosing a trading strategy. Additionally, they must possess a solid understanding of the financial markets and a disciplined trading strategy.
Which Platform is Best for Analysing Synthetic Indices?
The best platform to analyze synthetic indices prop firms is DTrader and Deriv MetaTrader 5 (DMT5), which are the two main trading platforms available to traders. Both trading platforms offer a variety of tools and features to help traders make informed decisions while trading synthetic prop firms.
Deriv developed the DTrader trading platform, which specializes in the trading of synthetic indices. The user-friendly platform offers a number of charting tools, technical indicators, and analytical tools, as well as information on market movements. Additionally, DTrader offers limit orders, stop-loss orders, and take-profit orders, which can help traders control risk and maximize profits.
Deriv MetaTrader 5 (DMT5): Deriv MetaTrader 5 (DMT5) is a popular platform that is used by traders all over the world. The platform offers a variety of functions and resources that can help traders analyze trends and make trading decisions.
DMT5 offers a variety of technical, analytical, and charting tools that traders may employ to identify market trends and patterns. The platform also offers a number of order types, including limit orders, stop-loss orders, and take-profit orders. These order types can help traders minimize risk and increase profits.
Both approaches may be used to efficiently examine synthetic indices. However, a trader should pick the platform that best suits their trading tastes and style. For traders who seek an easier-to-use platform, DTrader, for instance, can be selected. And those who are more accustomed to using MetaTrader will select MT5.
How do You Trade Synthetic Indices
Trading synthetic indices can be a profitable endeavor if done correctly. Here are some tips on how to trade synthetic indices pro firm accounts:
1. Understand the Underlying Assets
The term Synthetic indices are a combination of underlying assets, like stocks, commodities, and currencies. It is important to have a good understanding of the underlying assets and how they interact with each other. This will help you make informed decisions when trading synthetic indices.
2. Develop a Trading Strategy
Having a trading strategy is crucial to a trader’s success rate especially when trading synthetic indices. Good lot sizing, entry and exit locations, risk management, and profit targets are all important components of a successful trading strategy. It’s crucial to follow your trading plan exactly and not stray from it. See this post on how to pass a prop firm challenge faster.
3. Use Technical Analysis
Trading synthetic indices might benefit from the use of technical analysis. It involves analyzing charts to find patterns that can be used to forecast future price movements. Moving averages, Bollinger Bands, as well as Relative Strength Index (RSI), are a few popular technical indicators used for trading synthetic indices.
4. News Updates and Market Developments
Market news and events greatly impact forex trading and indirectly on companies that build synthetic indices prop firms. It’s necessary to be updated on recent news and events that could have an impact on the underlying assets. This will assist you in making wise trading choices and preventing unforeseen losses.
5. Practice with a Free Demo Account
You can gain knowledge and confidence while trading synthetic indices by practicing with a demo account. You can practice trading with fake money thanks to the prop firm free trial demo accounts that are offered by several companies. Without putting actual money at risk, this can be an excellent method to test your trading strategy and develop your abilities.
You could trade synthetic indices prop company like a pro and possibly make money if you go by our suggestions.
Is it Advisable to Trade Synthetic Indices on Prop Firm?
For investors wishing to diversify their portfolios and gain from synthetic prop firm products, trading synthetic indices on a prop firm may be an attractive choice. Before making any decisions, it’s necessary that you weigh the benefits and risks and go with a legitimate prop firm.
Advantages of Trading Synthetic Indices on Prop Account
Access to a wider range of markets is one of the key benefits of trading synthetic indices on prop firms. Proprietary firms frequently provide a range of synthetic products, such as indices not present in all standard markets. This enables traders to profit from more trading chances and possibly grow their trading volume.
Another advantage of trading synthetic indices on a prop firm is the ability to use leverage. Prop firms typically offer better leverage ratios than traditional brokers, which can increase the potential returns on a trade. However, it is important to use leverage wisely and avoid taking on too much risk.
Risks Associated with Trading Synthetic Indices on Prop Firm
The risks associated with trading synthetic indices on a prop firm are likewise substantial. High volatility has the potential to be one of the key concerns. If not handled appropriately, synthetic products can be more volatile than traditional assets and result in substantial losses.
The possibility of counterparty risk is another risk associated with trading synthetic indices on a prop firm account. The fact that prop firms tend to be the counterparty to trades exposes traders to the danger of the firm breaching its responsibilities. Traders should thoroughly investigate the standing and financial stability of any prop firm they are thinking of trading with in order to reduce this risk.
Other Top Prop Firms for Trading Forex & CFDs
Other top prop firms for trading forex, metals, and CFDs that provide the most affordable prop trading challenges are as follows:
– Funded Trading Plus with a 10% off promo code: PTP10.
– FTMO with a 10% off discount code.
– FundedNext with a 10% off discount code: GALAXY10
– Next Step Funded 10% off discount code: DXB10
These prop firms and many others listed on this blog enable traders to trade a variety of assets, including those found on well-known markets like the S&P 500, NASDAQ, Dow Jones, Metals, and Cryptocurrency.
Conclusion
To sum up, prop firms for synthetic indices are a fantastic way for traders to expose themselves to a variety of markets with a relatively minimal investment. These businesses allow users to trade synthetic indices, a class of financial instrument that simulates the performance of a certain market or industry.
The trading platform and other tools that these prop firms offer should be checked by forex traders who want to trade synthetic indices using their funding. These trading platforms offer sophisticated technical analysis tools and indicators and are intended for trading synthetic indices on prop firms.
Finally, traders have an exceptional opportunity to obtain exposure to a variety of markets with a relatively low-cost thanks to prop firms for synthetic indices. Traders can benefit from this attractive and potentially profitable trading opportunity by completing their research and locating a reliable prop provider.
