How to close MEXC contract

How to Close MEXC Contract

MEXC is a cryptocurrency exchange that offers a variety of trading options, including spot trading, margin trading, futures trading, and options trading. Closing a contract on MEXC is a simple process that can be completed in a few steps.

Prerequisites:

• You must have an active MEXC account.
• You must have a funded MEXC account.
• You must have an open contract on MEXC.

Steps:

1. Log into your MEXC account.
2. Navigate to the "Contracts" page.
3. Select the contract you wish to close.
4. Click on the "Close" button.
5. Enter the quantity of the contract you wish to close.
6. Click on the "Close" button.

Additional Information:

• You can close a contract at any time, but you will be charged a fee if you close a contract before it expires.
• The fee for closing a contract is 0.05% of the contract value.
• You can close a contract in full or in part.
• If you close a contract in part, the remaining portion of the contract will continue to be open and you will continue to be charged fees on the remaining portion of the contract.

Example:

Let's say you have an open contract on MEXC to buy 1 BTC at a price of $10,000. The contract expires in 24 hours. The current price of BTC is $11,000. You decide to close the contract. You would follow the steps above to close the contract.

The fee for closing the contract would be 0.05% of the contract value, which is $5. You would receive $10,995 in your MEXC account.