Home › Brokers with synthetic indices › Open account
How to open an account with a synthetic indices broker
Opening an account takes minutes; what decides whether you have made a good choice is what you check before you deposit. This guide covers that part: the usual process step by step, the checks beforehand and the tests in the first thirty days.
The five checks before depositing
| Check | Where it is done | What to look for |
|---|---|---|
| 1. The entity is on the register | On the website of the supervisor cited by the broker (not on its own website). | The exact name of the entity you are going to contract with, its licence number and the authorised scope. |
| 2. The name matches the contract | Terms and conditions, and the client contract itself. | That the entity appearing on the register is the same as the one in the contract, not just the trading name. |
| 3. It has what you need | List of instruments and symbol specifications. | The indices you want to trade, with their contract size, tick and point value. |
| 4. Withdrawals are published | The broker's deposits and withdrawals page. | Methods, minimum amounts, fees and timeframes, in writing and without ambiguity. |
| 5. The cost is sustainable | Actual spread on the platform and comparison with another candidate. | That the cost does not eat into the edge of your trading style (see the eight criteria in full). |
The process, step by step
- Choose the entity, not the brand. If the group has several companies in different countries, find out which one you are going to contract with and which regulator is accountable for it.
- Register with your real details. Matching your documentation prevents later blocks on withdrawals.
- Complete verification (KYC). Identification and, depending on the country, proof of address. Without this step you cannot withdraw: the sooner it is done, the better.
- Open the demo account first and check the actual instruments, contract size and spread before putting in money (how to use the demo).
- Set up the live account: currency, leverage and account type. Make a note of the currency, because it changes the value of every movement in your currency.
- Deposit the minimum that allows you to test the full cycle. Learning is done on demo; the deposit is for testing the broker.
- Make a test withdrawal of a small amount. It is the only real test that matters.
- Connect MetaTrader 5 (or the platform you use) and check that the symbols you want are available on the live account, not only on demo.
The first deposit: the minimum that works
- Deposit what you are prepared to lose during this testing phase, without exceptions.
- Do not deposit more to ‘take advantage of’ a bonus: the bonus is a contract with terms (volume, time limit, withdrawal restrictions) that can push you to trade more than your plan allows.
- Check the account currency and conversion fees if you trade in a currency different from yours.
- Note the amounts and dates of deposits and withdrawals: if something goes wrong, that is your evidence.
The first 30 days: what to test
| Test | How |
|---|---|
| Spread by time bands | Note the average spread during the hours you plan to trade, not at an isolated moment. |
| Execution and slippage | Compare the price you asked for with the one you got in normal trades and during fast-moving periods. |
| Full withdrawal | Method, actual fee, promised time versus the time it took. |
| Customer support | A specific query (for example, about the point value of a symbol) to see whether they respond clearly and in writing. |
Warning signs
- The broker cites a regulator but the entity does not appear in its public register.
- The withdrawal conditions are not published or change depending on who you speak to.
- They offer to “manage” your account or give you signals in exchange for a larger deposit.
- They promise returns, or insist that you increase your deposit to unlock terms.
- Pressure to close quickly: time-limited bonuses, “limited places”, persistent calls.
The full explanation of this part is in how to verify a broker without taking its word for it.
Frequently asked questions
What should you check before depositing?
That the entity is on the regulator's register, that it matches the one in the contract, that it has the instruments and contracts you need, that it publishes the withdrawal conditions and that its cost is sustainable for your trading.
Do you need to verify with documents?
With regulated brokers, yes (KYC: identification and, depending on the country, proof of address). Until it is completed, you cannot withdraw, so it is best to do it at the start.
How much should I deposit the first time?
The minimum that allows you to test the full cycle (deposit, trade at your size and withdraw). Serious learning is done on demo.
Are bonuses worth it?
It depends on their terms: volume requirements, time limits and withdrawal restrictions. If you cannot sum them up in two sentences, do not accept it.
What should you test in the first 30 days?
Spread by time bands, execution and slippage, a test withdrawal and how support responds to a specific query.
Before the deposit, the checks
At the academy, the broker is chosen using criteria and verified with data: register, contract, cost and withdrawals. No lists or paid recommendations.
Continue reading
- Brokers with synthetic indices: how to chooseThe eight criteria in order of importance and the protocol for comparing two candidates.
- Which is the safest broker?Registration and licence, what regulation protects and what it does not, and the withdrawal test.
- Synthetic indices demo accountHow to use it to measure properly and when to move to real.
- The best broker for your situationThe four elimination filters and what to prioritise according to your profile.