How to trade MEXC contract account How to open

To commence contract trading on MEXC, traders must first establish a MEXC account, activate contract trading, fund their contract wallet, select a trading pair and contract, place an order, and leverage additional features for effective position management.

Nov 18, 2024 at 08:40 am

How to Open and Trade on MEXC Contract Account: A Comprehensive Guide

Introduction

MEXC, a leading cryptocurrency exchange, provides a comprehensive contract trading platform that offers traders the opportunity to leverage their positions and potentially amplify their profits. This guide will provide a detailed walkthrough of the process of opening a MEXC contract account and executing trades effectively.

Step 1: Open a MEXC Account

1. Visit the MEXC website and click on "Sign Up" at the top right corner.
2. Choose your preferred registration method (email, phone, or Google).
3. Provide the necessary information and agree to the Terms of Service.
4. Verify your email or phone number via the provided OTP code.

Step 2: Activate Contract Trading

1. Once your MEXC account is created, navigate to the "Futures" tab.
2. Select "Contract Trading" from the dropdown menu.
3. You'll be asked to read the MEXC Futures User Agreement. Click "Agree" to proceed.
4. Your contract account will be automatically activated.

Step 3: Fund Your Contract Account

1. Transfer funds from your MEXC Spot Wallet to your Contract Wallet.
2. Select the desired cryptocurrency you want to fund your account with.
3. Enter the amount you want to transfer and click "Confirm."

Step 4: Choose a Trading Pair and Contract

1. On the contract trading interface, select the Futures trading pair you want to trade (e.g., BTC/USDT).
2. Choose the contract type, which can be either a Perpetual Contract or Quarterly Contract. Perpetual Contracts have no expiration date, while Quarterly Contracts expire on a quarterly basis.

Step 5: Place an Order

1. Determine your trading strategy and choose the order type that best suits your needs (e.g., Limit, Market, or Stop-Limit).
2. Specify the order size, leverage, and other relevant parameters.
3. Review your order details and click "Place Order."

Step 6: Manage Your Position

1. Once your order is executed, it will appear in the "Positions" tab.
2. Monitor your position's performance and adjust your leverage or risk parameters as necessary.
3. To close your position, click on the "Close" button or place an opposite order to offset your current position.

Additional Features

Market Depth:

1. The MEXC contract trading platform provides real-time market depth, allowing traders to view the distribution of buy and sell orders at different prices.
2. This information can provide insights into market sentiment and support informed trading decisions.

Stop-Loss Orders:

1. Stop-loss orders are a risk management tool that automatically close your position when the price reaches a predefined level.
2. By placing stop-loss orders, you can limit your potential losses and protect your capital.

Take-Profit Orders:

1. Take-profit orders are another risk management tool that automatically close your position when the price reaches a predefined level.
2. By placing take-profit orders, you can secure your profits and prevent emotional trading decisions.