How to open a contract account on AscendEX

With AscendEX's contract trading option, traders can speculate on future asset prices without owning the underlying asset, offering a potentially lucrative but risk-managed trading avenue.

Nov 24, 2024 at 09:57 am

How to Open a Contract Account on AscendEX

Introduction

AscendEX is a leading cryptocurrency exchange that offers a wide range of trading options, including contract trading. Contract trading allows traders to speculate on the future price of an asset without owning the underlying asset. This can be a lucrative way to trade, but it is also important to understand the risks involved.

Step 1: Create an AscendEX Account

If you do not already have an AscendEX account, you will need to create one. This is a simple process that can be completed in a few minutes. Simply visit the AscendEX website and click on the "Sign Up" button. You will then be asked to provide some basic information, such as your name, email address, and password. Once you have provided this information, you can click on the "Create Account" button.

Step 2: Verify Your Identity

Once you have created an account, you will need to verify your identity. This is a requirement for all AscendEX users who wish to trade contracts. To verify your identity, you will need to provide a government-issued ID, such as a passport or driver's license. You will also need to provide a proof of address, such as a utility bill or bank statement.

Step 3: Fund Your Account

Once your identity has been verified, you can fund your account. AscendEX accepts a variety of payment methods, including wire transfer, credit card, and debit card. To fund your account, simply click on the "Deposit" button and select your preferred payment method.

Step 4: Open a Contract Account

Once your account has been funded, you can open a contract account. To do this, simply click on the "Contracts" tab and then click on the "Open Account" button. You will then be asked to provide some basic information, such as the type of contract you wish to trade and the amount of leverage you wish to use. Once you have provided this information, you can click on the "Open Account" button.

Step 5: Start Trading

Once your contract account has been opened, you can start trading. To do this, simply select the contract you wish to trade and then click on the "Buy" or "Sell" button. You can also use the "Stop Limit" or "Take Profit" orders to manage your risk.