AscendEX Margin Trading Process

To initiate margin trading, AscendEX users must first register, fund their accounts with supported cryptocurrencies, and submit an authorization request.

Nov 27, 2024 at 01:31 am

AscendEX Margin Trading Process: A Comprehensive Guide

Margin trading is a powerful tool that can magnify both profits and losses in cryptocurrency trading. AscendEX, a leading digital asset exchange, offers a robust margin trading platform that allows users to amplify their returns by borrowing funds from the exchange. This guide will provide a step-by-step overview of the AscendEX margin trading process, covering everything from account setup to order execution.

Step 1: Create an AscendEX Account

To begin margin trading on AscendEX, you must first create an account. The process is straightforward and requires basic personal information, such as your name, email address, and country of residence. Once you have created an account, you will need to complete the KYC (Know Your Customer) verification process to activate your trading privileges.

Step 2: Fund Your Margin Account

Before you can start trading on margin, you need to fund your account with assets that can be used as collateral. AscendEX supports a wide range of cryptocurrencies, including BTC, ETH, USDT, and BNB. You can deposit funds into your margin account using a variety of methods, including bank transfer, credit card, and crypto transfers.

Step 3: Apply for Margin Trading Authorization

Once your account is funded, you need to apply for margin trading authorization. This is a simple process that requires you to agree to the exchange's terms and conditions. To apply for authorization, follow these steps:

1. Log in to your AscendEX account.
2. Navigate to the "Margin" tab.
3. Click on the "Apply for Margin Trading Authorization" button.
4. Read the terms and conditions carefully.
5. Check the box to agree to the terms and conditions.
6. Click on the "Apply" button.

Your margin trading authorization will be reviewed by AscendEX within 24 hours. Once your authorization is approved, you will be able to trade on margin.

Step 4: Choose Margin Pairs and Leverage

AscendEX offers a wide range of margin trading pairs, allowing you to trade a variety of cryptocurrencies against each other or against stablecoins like USDT. When selecting a margin trading pair, it's important to consider the volatility of the assets and your risk tolerance.

Leverage is an important aspect of margin trading, as it allows you to multiply your position size without increasing your capital outlay. AscendEX offers leverage of up to 5x for most margin trading pairs. However, it's important to note that higher leverage amplifies both profits and losses, so it should be used with caution.

Step 5: Place a Margin Order

Once you have selected a margin trading pair and leverage, you can place an order. AscendEX supports a variety of order types, including market orders, limit orders, and stop orders. When placing a margin order, you need to specify the following information:

• Order type: The type of order you want to place (market order, limit order, or stop order).
• Side: Whether you are buying or selling.
• Price: The price at which you want to execute the order (only for limit and stop orders).
• Amount: The number of units of the base asset you want to trade.
• Leverage: The amount of leverage you want to use.

Step 6: Monitor Your Margin Position

Once you have placed a margin order, it is important to monitor your position regularly. As the market fluctuates, your position's value will change. If the market moves against you, your position may be liquidated to cover your losses. To avoid liquidation, you can add collateral to your margin account or reduce your position size.

Step 7: Close Your Margin Position