MEXC contract tutorial

MEXC Contract Trading: A Comprehensive Guide

MEXC is a renowned cryptocurrency exchange that offers a wide range of trading services, including contract trading. This tutorial will provide a comprehensive guide to MEXC contract trading, covering everything from account creation to advanced order types.

Step 1: Create a MEXC Account

Creating an account on MEXC is a simple and straightforward process that can be completed in a few minutes.

• Visit the MEXC website: https://www.mexc.com/
• Click on the "Register" button in the top-right corner.
• Enter your email address and create a password.
• Click on the "Send Code" button and enter the verification code sent to your email address.
• Agree to the Terms of Service and Privacy Policy.
• Click on the "Create Account" button.

Step 2: Fund Your MEXC Account

Once you have created an account, you need to fund it with cryptocurrencies to start trading contracts.

• Click on the "Assets" tab in the top menu bar.
• Click on the "Deposit" button.
• Select the cryptocurrency you want to deposit.
• Enter the amount you want to deposit.
• Click on the "Confirm" button.
• Follow the instructions on the screen to complete the deposit.

Step 3: Understand Contract Trading

Contract trading is a type of derivative trading that allows traders to speculate on the future price of an asset without actually owning the underlying asset. This can be a risky but potentially profitable way to trade.

• Futures: A futures contract is an agreement to buy or sell an asset at a predetermined price on a future date.
• Perpetual: A perpetual contract is a type of futures contract that has no expiration date.
• Leverage: Leverage allows traders to borrow capital from the exchange to trade with, essentially increasing their buying power. However, leverage also amplifies both profits and losses.

Step 4: Choose a Contract

MEXC offers a variety of contract markets, including perpetual contracts, inverse perpetual contracts, and delivery contracts.

• Perpetual Contracts: These contracts do not have an expiration date and allow for perpetual trading without having to close positions.
• Inverse Perpetual Contracts: These contracts are similar to perpetual contracts but are quoted in the inverse of the underlying asset's price, meaning that short positions profit from a rise in the asset's price and vice versa.
• Delivery Contracts: These contracts have an expiration date and require traders to physically settle the underlying asset at the time of expiry.

Step 5: Place an Order

To place an order,

• Click on the "Contracts" tab in the top menu bar.
• Select the contract you want to trade.
• Choose the order type (e.g., Limit Order, Market Order, Stop Limit Order).
• Enter the order parameters (e.g., price, quantity, leverage).
• Click on the "Buy" or "Sell" button.

Step 6: Monitor Your Position

Once you have placed an order, you can monitor its status by clicking on the "Positions" tab on the left-hand side of the screen. This will show you the current profit/loss, margin used, and other details of your open positions.

Step 7: Close Your Position

When you want to close your position,

• Click on the "Positions" tab on the left-hand side of the screen.
• Select the position you want to close.
• Click on the "Close" button.
• Confirm the closure of the position.

Step 8: Withdraw Your Funds

Once you have closed all your positions and want to withdraw your funds,

• Click on the "Assets" tab in the top menu bar.
• Click on the "Withdraw" button.
• Select the cryptocurrency you want to withdraw.
• Enter the amount you want to withdraw.
• Click on the "Confirm" button.
• Follow the instructions on the screen to complete the withdrawal.