How to open AscendEX contract 75 times

For traders seeking amplified returns, AscendEX empowers them to trade contracts with up to 75 times leverage, amplifying both potential profits and losses.

Dec 06, 2024 at 02:03 pm

Unveiling the Secrets of AscendEX Contract: A Comprehensive Guide to Achieving 75X Leverage

Embarking on the journey to unlock the full potential of AscendEX's contract trading platform requires a strategic approach and a thorough understanding of its mechanisms. This guide will meticulously walk you through each step involved in opening an AscendEX contract with 75 times leverage, empowering you to confidently navigate the intricate world of leveraged trading.

Step 1: Registering on AscendEX

• Commence your AscendEX journey by visiting their official website and clicking "Register" to create a new account.
• Provide the necessary personal information, including your email address, password, and referral code (if applicable).
• Complete the registration process by verifying your email address and completing the KYC (Know Your Customer) procedure to ensure compliance and security.

Step 2: Funding Your Account

• Navigate to the "Assets" tab and select "Deposit" to fund your AscendEX account.
• Choose your preferred deposit method, such as cryptocurrency, credit/debit card, or bank transfer.
• Follow the on-screen instructions to complete the deposit process.
• Ensure that the deposited funds are sufficient to cover the required margin for the contract you intend to trade.

Step 3: Understanding Margin and Leverage

• Margin: The minimum amount of funds required in your account to open and maintain a contract position.
• Leverage: The ratio of borrowed funds to your own funds, which amplifies both potential profits and losses.
• AscendEX allows leverage up to 75 times for certain contracts, which means you can control a position worth up to 75 times your margin.

Step 4: Selecting the Contract

• Access the "Contracts" section of the AscendEX platform.
• Choose the desired contract, considering factors such as the underlying asset, expiration date, and trading volume.
• Carefully review the contract specifications, including the margin requirements and trading fees, to ensure alignment with your trading strategy.

Step 5: Configuring the Contract Parameters

• Specify the contract size, which represents the number of units or value of the underlying asset you wish to trade.
• Adjust the leverage to 75 times if it is available for the selected contract.
• Choose the order type, such as market order, limit order, or stop order, to automate your entry and exit strategies.

Step 6: Opening the Contract

• Double-check all the contract parameters to ensure they align with your trading plan.
• Click the "Buy/Long" or "Sell/Short" button to open the contract.
• Monitor your position closely, managing your risk and adjusting your strategy as needed to optimize your trading outcomes.