How to cancel ProBit Global leverage

To cancel leverage on ProBit Global, log in, navigate to "Margin Trading," select the position, click "Cancel Leverage," confirm the cancellation, and monitor its progress in the "History" tab.

Nov 25, 2024 at 01:06 am

How to Cancel ProBit Global Leverage

Understanding Leverage

• Leverage is a trading strategy that allows traders to increase their potential profits by borrowing funds from a broker.
• It amplifies both potential gains and losses, increasing the risk involved.
• ProBit Global offers leverage options up to 20x on certain trading pairs.

Cancelling Leverage

• To cancel leverage on ProBit Global, follow these steps:

Step 1: Log In and Navigate to Margin Trading

• Log in to your ProBit Global account.
• Hover over "Spot" on the top menu and select "Margin Trading."
• This will take you to the Margin Trading page, where you can view your active leverage positions.

Step 2: Select the Leveraged Position

• Locate the position for which you wish to cancel leverage.
• Click on the "Positions" tab and scroll down to the position with open leverage.

Step 3: Click on "Cancel Leverage"

• Once you have found the relevant position, click on the "Cancel Leverage" button associated with it.
• The platform will prompt you to confirm the cancellation.

Step 4: Confirm Cancellation

• Carefully review the confirmation dialogue box to ensure that you are cancelling the correct position.
• Click on the "OK" button to confirm the cancellation.

Step 5: Monitor the Cancellation

• Once the cancellation is confirmed, it may take a few moments to process.
• You can track its progress in the "History" tab of the Margin Trading page.

Important Considerations

• Cancelling leverage does not close the position. It simply removes the borrowed funds and reduces the leverage applied to the position.
• Any P&L (profit or loss) generated while using leverage will still be attributed to the position.
• It is recommended to exercise caution when using leverage and to only trade with an amount that you can afford to potentially lose.

Additional Resources

• [ProBit Global Margin Trading Guide](https://support.probit.com/hc/en-us/articles/4404228191485-Margin-Trading-Guide)
• [Trading Cryptocurrency with Leverage](https://academy.binance.com/en/articles/trading-crypto-with-leverage)
• [The Risks and Rewards of Leveraged Trading](https://www.investopedia.com/articles/trading/082614/risks-and-rewards-leveraged-trading.asp)