How to conduct contract trading on CoinEx

To trade contracts on the CoinEx platform, you must first create an account, verify your identity, deposit funds, select a contract, place an order, and monitor your position.

Dec 01, 2024 at 02:35 am

How to Conduct Contract Trading on CoinEx

Contract trading, also known as futures trading, is a powerful tool that allows traders to speculate on the future price of an asset without actually owning it. This can be a great way to magnify profits, but it also comes with increased risk. If you're new to contract trading, it's important to understand the basics before you get started.

In this guide, we'll walk you through the steps on how to conduct contract trading on CoinEx. We'll cover everything from opening an account to placing your first trade.

Step 1: Open a CoinEx Account

The first step to trading contracts on CoinEx is to open an account. You can do this by visiting the CoinEx website. Click on the "Sign Up" button in the top right corner of the page.

Enter your email address and create a password. You'll also need to agree to the CoinEx Terms of Service. Once you've done this, click on the "Sign Up" button.

Step 2: Verify Your Account

Once you've created an account, you'll need to verify your identity. This is a requirement for all CoinEx users.

To verify your account, click on the "My Account" tab in the top right corner of the page. Then, click on the "Verification" tab.

You'll need to provide your full name, date of birth, and country of residence. You'll also need to upload a copy of your government-issued ID.

Once you've submitted your information, CoinEx will review your application. This process can take a few days.

Step 3: Deposit Funds

Once your account has been verified, you'll need to deposit funds into your account. You can do this by clicking on the "Deposit" button in the top right corner of the page.

CoinEx supports a variety of deposit methods, including bank transfer, credit card, and cryptocurrency.

Step 4: Choose a Contract

Once you've funded your account, you'll need to choose a contract to trade. CoinEx offers a variety of contracts, including futures contracts, options contracts, and perpetual contracts.

Futures contracts are the most popular type of contract. They allow traders to speculate on the future price of an asset without actually owning it.

Options contracts give traders the right, but not the obligation, to buy or sell an asset at a certain price on a certain date.

Perpetual contracts are similar to futures contracts, but they don't have an expiration date. This makes them ideal for traders who want to hold positions for longer periods of time.

Step 5: Place an Order

Once you've chosen a contract, you'll need to place an order. You can do this by clicking on the "Order" button in the top right corner of the page.

There are two types of orders you can place: market orders and limit orders.

Market orders are executed immediately at the current market price.

Limit orders are executed only when the price reaches a certain level.

Step 6: Monitor Your Position

Once you've placed an order, you'll need to monitor your position. You can do this by clicking on the "Positions" tab in the top right corner of the page.

Your position will show you the current profit or