How to cancel CoinEx leverage

To cancel a CoinEx leverage position, log in, go to the Leverage Trading Dashboard, select the position to cancel, and confirm cancellation in the verification dialog, considering risks and market conditions.

Nov 26, 2024 at 11:32 am

How to Cancel CoinEx Leverage

1. Understanding CoinEx Leverage

CoinEx leverage is a trading feature that allows traders to borrow funds from the platform to amplify their trading profits. The borrowed funds are typically provided with a leverage ratio, which determines the amount of funds that can be borrowed compared to the trader's own capital.

Leverage trading can be a powerful tool for experienced traders, as it allows them to significantly increase their trading exposure. However, it is important to note that leverage trading also comes with increased risk, as any losses incurred will also be magnified by the leverage ratio.

2. Cancelling CoinEx Leverage

• Step 1: Log in to CoinEx

Access the CoinEx website or mobile application and log in to your account.

• Step 2: Navigate to the Leverage Trading Dashboard

Click on "Trade" in the top menu and select "Leverage Trading" from the drop-down menu. This will open the leverage trading dashboard.

• Step 3: Select the Position to Cancel

On the dashboard, identify the position that you wish to cancel. This can be done by filtering the positions based on the trading pair, leverage ratio, or other criteria.

• Step 4: Cancel the Position

Once the desired position is located, click on the "Cancel" button corresponding to that position. A confirmation dialog will appear asking for verification.

• Step 5: Confirm Cancellation

Carefully review the position details on the confirmation dialog to ensure that the correct position is canceled. If all is in order, click on the "Confirm" button to complete the cancellation process.

3. Important Considerations

• Partial Cancellations: CoinEx does not allow partial cancellations of leverage positions.
• Risks of Leverage Trading: Leverage trading can amplify both profits and losses. It is recommended to conduct thorough research and risk management before engaging in leverage trading.
• Market Conditions: Cancellation of a leverage position may be affected by market conditions, such as volatility or liquidity. It is essential to monitor market conditions before making any decisions related to leverage trading.
• Fees: CoinEx may charge a small fee for canceling a leverage position.
• Support: If you encounter any issues with canceling a leverage position, you can contact CoinEx customer support for assistance.