CoinEx contract operation process

To ensure a seamless trading experience with CoinEx contracts, it's imperative to navigate the operation process thoroughly, from account registration and funding to order execution and risk management.

Nov 26, 2024 at 03:04 pm

CoinEx Contract Operation Process

CoinEx, a leading cryptocurrency exchange established in 2017, offers a comprehensive suite of trading options, including spot, margin, and derivatives trading. Among its derivative products, CoinEx contracts stand out for their accessibility, user-friendliness, and robust risk management tools.

Navigating the operation process of CoinEx contracts ensures a seamless and secure trading experience. This detailed guide will walk you through the step-by-step procedure, from account registration to order execution and contract management.

Step 1: Account Registration and Verification

• Visit the official CoinEx website (www.coinex.com) and click "Register" in the top right corner.
• Provide your email address, set a password, and agree to the terms of service.
• Complete the initial account setup by providing personal information (name, date of birth, etc.) for KYC compliance.

Step 2: Funding Your Account

• Once your account is verified, you can deposit funds to start trading.
• CoinEx supports a wide range of cryptocurrencies for funding, including BTC, ETH, USDT, and others.
• Select your preferred deposit method (on-chain deposit or fiat gateway) and follow the instructions provided.

Step 3: Understanding Contract Basics

• CoinEx contracts are perpetual futures contracts that allow traders to speculate on the price movements of underlying assets (e.g., BTC, ETH) without physical delivery.
• Key concepts to grasp include contract price, index price, funding rate, and leverage.
• Familiarize yourself with these terms before placing an order.

Step 4: Placing an Order

• Navigate to the contract trading interface and select the desired contract (e.g., BTC/USDT perpetual).
• Determine the order type, quantity, price, and leverage based on your trading strategy.
• Click on "Buy/Long" or "Sell/Short" to execute your order.

Step 5: Contract Order Management

• Once your order is executed, it will appear in the "Open Orders" section.
• You can modify or cancel your order as needed by using the corresponding buttons in this section.
• Additionally, CoinEx offers a variety of advanced order types, such as conditional orders and stop-limit orders, to enhance your trading capabilities.

Step 6: Position Management

• Your active positions will be displayed in the "Positions" section.
• This section provides real-time information about your position, including entry price, profit/loss, and margin utilization.
• Monitor your positions closely and adjust them accordingly based on market conditions and risk tolerance.

Step 7: Risk Management

• Risk management is crucial in contract trading.
• CoinEx offers several risk management tools, including forced liquidation, stop-loss orders, and partial liquidation.
• Implement these tools judiciously to minimize potential losses.

Step 8: Contract Settlement

• CoinEx contracts are perpetual, meaning they have no expiry date.
• However, traders can manually settle their positions at any time.
• To settle a contract, simply select the "Settle Now" button in the "Positions" section.