BitFlyer contract trading introduction

BitFlyer's contract trading platform enables traders to speculate on the future price of crypto assets, like Bitcoin (BTC), without owning them directly.

Nov 17, 2024 at 08:55 pm

Introduction to BitFlyer Contract Trading

BitFlyer, one of the leading cryptocurrency exchanges in Japan, offers a range of trading services, including contract trading. Contract trading, also known as futures trading, allows traders to speculate on the future price of an underlying asset without actually owning it.

BitFlyer's contract trading platform offers a variety of features that make it attractive to both retail and institutional traders. These features include:

• Low fees and high liquidity
• A wide range of underlying assets
• Advanced trading tools and features

How to Get Started with BitFlyer Contract Trading

To get started with BitFlyer contract trading, you will need to:

1. Create a BitFlyer account
2. Fund your account with cryptocurrency
3. Choose an underlying asset and market
4. Place an order

Placing an Order

To place an order on BitFlyer's contract trading platform, you will need to:

1. Select the "Contracts" tab from the top navigation bar
2. Choose an underlying asset and market
3. Enter the order type, quantity, and price
4. Click the "Place Order" button

Order Types

BitFlyer offers a variety of order types to accommodate different trading strategies. These order types include:

• Market order: A market order is an order to buy or sell an asset at the current market price.
• Limit order: A limit order is an order to buy or sell an asset at a specified price.
• Stop order: A stop order is an order to buy or sell an asset when the price reaches a specified level.
• Trailing stop order: A trailing stop order is an order to buy or sell an asset when the price moves a certain percentage or amount away from the current price.

Managing Your Orders

Once you have placed an order, you can manage it through the "My Orders" tab. From here, you can:

• View the status of your order
• Cancel your order
• Modify your order

Settlement

Contracts are settled on a daily basis. The settlement price is the average of the closing prices of the underlying asset over the past 24 hours. If you have an open position at the time of settlement, your account will be credited or debited the difference between the settlement price and the price at which you opened the position.

Fees

BitFlyer charges a variety of fees for contract trading. These fees include:

• Trading fee: A fee charged on each trade you make. The trading fee varies depending on the underlying asset and market.
• Settlement fee: A fee charged on each contract that is settled. The settlement fee is a flat fee of 0.001 BTC.
• Account maintenance fee: A fee charged on a monthly basis if you have a balance of over 0.001 BTC in your account. The account maintenance fee is a flat fee of 0.0005 BTC.

Conclusion

BitFlyer's contract trading platform offers a range of features and benefits that make it attractive to both retail and institutional traders. With low fees, high liquidity, and a wide range of underlying assets, BitFlyer is a great choice for those looking to trade contracts.