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MEXC app leverage trading tutorial
To begin leverage trading on the MEXC app, traders must create an account, complete KYC verification, and fund their account with sufficient assets.
Nov 13, 2024 at 04:15 am
MEXC App Leverage Trading Tutorial
Introduction
Leverage trading is a powerful financial tool that allows traders to amplify their returns by borrowing funds from a broker. However, it also increases the potential for losses.
Requirements
To participate in leverage trading on the MEXC app, traders must meet the following requirements:
- Create an account and complete KYC verification.
- Fund your account with sufficient assets to cover the margin requirement.
- Understand the risks involved with leverage trading.
Step-by-Step Guide
1. Open a Leverage Trading Account
- Log in to your MEXC account and navigate to the "Finance" tab.
- Select "Leverage Account" and click "Open Now."
- Choose the trading pair and leverage ratio you wish to use.
- Confirm your selection to activate your leverage trading account.
2. Fund Your Leverage Trading Account
- Transfer funds from your spot wallet to your leverage trading account.
- The amount you transfer will determine your margin balance.
- Ensure that your margin balance is sufficient to cover the potential losses incurred during trading.
3. Place an Order
- Once your leverage trading account is funded, you can place an order using the "Trading" tab.
- Select the trading pair, enter the desired order type, quantity, and leverage ratio.
- Confirm your order to execute the trade.
4. Manage Your Position
- Monitor your trading position closely and make adjustments as necessary.
- You can add or remove margin to adjust your position's risk profile.
- Close your position when you have reached your desired profit or loss target.
5. Withdraw Your Earnings
- Once you have closed your trading position, you can withdraw your earnings by transferring them from your leverage trading account to your spot wallet.
- Withdrawals are processed within 24 hours, depending on network traffic.
Additional Tips
- Leverage trading is not suitable for all traders. Only use leverage if you fully understand the risks and have a strong risk appetite.
- Start with a low leverage ratio to minimize your potential losses.
- Monitor your available margin and adjust your trade size accordingly.
- Close your position immediately if the market moves against you and you reach your stop-loss level.
- Use the MEXC app's stop-loss and take-profit features to protect your capital.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
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