MEXC contract trading steps

To participate in contract trading on MEXC, traders must first establish an account, complete KYC verification, and deposit funds to activate trading capabilities.

Nov 08, 2024 at 05:21 pm

MEXC Contract Trading Steps

1. Create a MEXC Account

• Visit the MEXC website (www.mexc.com) and click on "Register."
• Enter your email address or mobile number, create a password, and agree to the terms and conditions.
• You will receive a verification code; enter it to complete the registration process.

2. Complete KYC Verification

• To enable contract trading, you must complete KYC verification.
• Click on "Account & Security" in the top right corner and then on "Verification."
• Follow the instructions to upload your identification documents and proof of address.
• The verification process usually takes a few hours.

3. Fund Your Account

• Once your account is verified, you can deposit funds to trade contracts.
• Click on "Deposit" in the top right corner and select the "Fiat" or "Crypto" deposit option.
• Follow the instructions to deposit funds using the supported methods, such as credit/debit cards, bank transfers, or cryptocurrencies.

4. Choose the Contract You Want to Trade

• MEXC offers a wide range of perpetual and futures contracts.
• Click on "Contracts" in the top menu and browse the available contracts.
• Select the contract you want to trade based on the underlying asset, such as Bitcoin, Ethereum, or other cryptocurrencies.

5. Determine Your Strategy

• Before you start trading contracts, it's crucial to develop a trading strategy.
• Consider factors such as your risk tolerance, trading style, and market conditions.
• Determine whether you want to take long or short positions and set clear entry and exit points.

6. Place Your Order

• Once you have chosen your strategy, you can place your order.

• Click on the "Trade" button for the selected contract and enter the following details:

  • Position (long or short)
  • Order type (market, limit, stop-limit)
  • Order quantity
  • Price (for limit or stop-limit orders)

7. Margin Management

• Contract trading involves using leverage, which magnifies both profits and losses.
• It's essential to manage your margin effectively to avoid liquidations.
• Monitor your account balance, available margin, and margin utilization ratio.
• Consider the risk of margin calls and top up your margin if necessary.

8. Monitoring Your Positions

• Once your orders are placed, you can monitor their performance and make adjustments as needed.
• The MEXC trading platform provides real-time charts, market data, and a variety of trading tools.
• Use these features to track your positions, analyze the market, and make informed trading decisions.

9. Close Your Positions

• When you're ready to exit your position, simply click on the "Close" button for the relevant order.
• You can also set close orders, such as take-profit or stop-loss orders, to automatically close your positions when certain conditions are met.
• Remember to monitor your positions and make adjustments or exit trades when necessary to manage risk and secure profits.