Mobile Kraken contract operation process

To begin trading futures contracts on Kraken, create an account, fund it with a minimum of $10, enable futures trading, select a contract, place an order, monitor its status, and close it when ready.

Nov 16, 2024 at 04:03 pm

Mobile Kraken Contract Operation Process

1. Open a Kraken Account

To begin trading futures contracts on Kraken, you must first create an account. The account creation process is simple and straightforward, and can be completed in a few minutes. You will need to provide your email address, create a password, and verify your identity.

2. Fund Your Account

Once you have created an account, you will need to fund it in order to start trading. Kraken supports a variety of funding methods, including wire transfer, SEPA transfer, credit card, and debit card. The minimum deposit amount is $10.

3. Enable Futures Trading

Before you can begin trading futures contracts, you must enable futures trading on your account. To do this, go to the "Settings" tab and select "Futures". Then, click on the "Enable Futures Trading" button.

4. Choose a Futures Contract

Kraken offers a variety of futures contracts, including BTCUSD, ETHUSD, and LTCUSD. To choose a futures contract, go to the "Futures" tab and select the contract you want to trade.

5. Place an Order

Once you have chosen a futures contract, you can place an order. To do this, click on the "Buy" or "Sell" button and enter the quantity of the contract you want to trade. You can also choose the order type, such as market order, limit order, or stop order.

6. Monitor Your Order

Once you have placed an order, you can monitor its status in the "Orders" tab. You can also view the current market price of the futures contract and the historical price chart.

7. Close Your Order

When you are ready to close your order, you can do so by clicking on the "Close" button. You can also choose to close your order at a specific price by placing a stop order.

Additional Features

In addition to the basic trading features, Kraken also offers a number of additional features for futures traders, such as:

• Leverage: Kraken allows you to trade futures contracts with up to 50x leverage. This can help you to increase your profits, but it also increases your risk.
• Margin Trading: Kraken allows you to trade futures contracts with margin. This means that you can borrow funds from the exchange to trade, which can help you to increase your buying power.
• Short Selling: Kraken allows you to short sell futures contracts. This means that you can bet against the price of a futures contract, which can be profitable if the price falls.