MEXC app leverage trading tutorial

MEXC App Leverage Trading Tutorial

IntroductionLeverage trading is a powerful financial tool that allows traders to amplify their returns by borrowing funds from a broker. However, it also increases the potential for losses.

RequirementsTo participate in leverage trading on the MEXC app, traders must meet the following requirements:

1. Create an account and complete KYC verification.
2. Fund your account with sufficient assets to cover the margin requirement.
3. Understand the risks involved with leverage trading.

Step-by-Step Guide1. Open a Leverage Trading Account

• Log in to your MEXC account and navigate to the "Finance" tab.
• Select "Leverage Account" and click "Open Now."
• Choose the trading pair and leverage ratio you wish to use.
• Confirm your selection to activate your leverage trading account.

2. Fund Your Leverage Trading Account

• Transfer funds from your spot wallet to your leverage trading account.
• The amount you transfer will determine your margin balance.
• Ensure that your margin balance is sufficient to cover the potential losses incurred during trading.

3. Place an Order

• Once your leverage trading account is funded, you can place an order using the "Trading" tab.
• Select the trading pair, enter the desired order type, quantity, and leverage ratio.
• Confirm your order to execute the trade.

4. Manage Your Position

• Monitor your trading position closely and make adjustments as necessary.
• You can add or remove margin to adjust your position's risk profile.
• Close your position when you have reached your desired profit or loss target.

5. Withdraw Your Earnings

• Once you have closed your trading position, you can withdraw your earnings by transferring them from your leverage trading account to your spot wallet.
• Withdrawals are processed within 24 hours, depending on network traffic.

Additional Tips

• Leverage trading is not suitable for all traders. Only use leverage if you fully understand the risks and have a strong risk appetite.
• Start with a low leverage ratio to minimize your potential losses.
• Monitor your available margin and adjust your trade size accordingly.
• Close your position immediately if the market moves against you and you reach your stop-loss level.
• Use the MEXC app's stop-loss and take-profit features to protect your capital.