AscendEX leverage multiple setting failed

When attempting to utilize leverage on AscendEX, it's crucial to ensure account eligibility, verify available margin, and adjust the leverage multiplier within the allowed range.

Nov 24, 2024 at 03:12 am

AscendEX Leverage Multiple Setting Failed: Troubleshooting and Solutions

AscendEX, a leading cryptocurrency exchange, offers traders the ability to utilize leverage to potentially enhance their returns. However, users may encounter issues when attempting to set up or adjust leverage, leading to a "failed" status. This guide will delve into the potential causes and provide comprehensive solutions to resolve these leverage-setting failures.

Understanding AscendEX Leverage Settings

Before addressing troubleshooting measures, it is crucial to grasp the fundamental concepts surrounding leverage settings on AscendEX:

• Leverage: Refers to the ratio of borrowed funds to an individual's own capital. By using leverage, traders can amplify their potential gains while also increasing their risk of losses.
• Margin: The borrowed portion of capital used to increase the trading position's size. The user's initial capital is known as the "base margin."
• Leverage Multiplier: Indicates the amount of leverage applied. For instance, a leverage multiplier of 10x means that the trader's position is 10 times larger than their base margin.
• Initial Margin: The minimum amount of base margin required to open a leveraged position.
• Maintenance Margin: The minimum margin level that must be maintained to prevent a margin call. If the margin level falls below the maintenance margin, the exchange will automatically liquidate the position to cover losses.

Troubleshooting Leverage Setting Failures

1. Verify Account Eligibility:

• Ensure that the AscendEX account is enabled for margin trading. Navigate to "Account" > "Settings" > "Margin Trading," and activate margin trading if it is not enabled.
• Confirm that the trading pair for which leverage is being set is a supported margin trading pair on AscendEX.

2. Check Available Margin:

• AscendEX imposes initial margin requirements for opening leveraged positions. Ensure that the available margin balance exceeds the required initial margin.
• The available margin can be viewed in the "Balances" section of the trading interface.

3. Adjust Leverage Multiplier:

• The maximum leverage multiplier allowed varies based on the trading pair and account tier. Refer to the AscendEX Margin Trading Fee Schedule to determine the maximum leverage multiplier for the desired trading pair.
• If the selected leverage multiplier exceeds the allowed maximum, adjust it to a lower value.

4. Maintain Sufficient Margin:

• Monitor the margin level throughout the trade's duration to prevent a margin call. As the market fluctuates, the margin level will also change.
• To avoid liquidation, ensure that the margin level remains above the maintenance margin requirement.

5. Avoid Leverage Reduction:

• AscendEX does not allow traders to reduce leverage once a leveraged position is opened. Therefore, it is essential to carefully consider the desired leverage multiplier before opening a position.

6. Contact AscendEX Support:

• If all the aforementioned troubleshooting measures fail, do not hesitate to contact AscendEX support through the "Help Center" or "Live Chat" options.

7. Additional Considerations:

• Due to regulatory compliance in certain jurisdictions, AscendEX may restrict leverage trading for users in those regions.
• Leverage trading involves a substantial amount of risk. Only trade with funds that can be afforded to lose.