How to disable OYI’s contract trading function?

To protect against substantial losses, disable OYI's contract trading function by toggling the "Enable Contract Trading" switch to "Off" in the "Trading Settings" menu under the "Settings" tab after logging into your OYI account.

Jan 25, 2025 at 10:24 pm

Key Points:

• Understanding OYI's Contract Trading Function:

  • OYI offers a contract trading platform where users can engage in leveraged trading of various cryptocurrencies.
  • Enabling this function allows users to amplify their trading gains, but it also exposes them to increased risks of substantial losses.
  • It is crucial to assess your risk tolerance and trading experience before considering contract trading.

• Step-by-Step Guide to Disable OYI's Contract Trading Function:

  • Log in to your OYI account.
  • Navigate to the "Settings" menu.
  • Under the "Trading Settings" tab, locate the "Contract Trading" section.
  • Toggle the "Enable Contract Trading" switch to the "Off" position.
  • Confirm your decision by clicking on the "Disable" button.

• Additional Considerations:

  • OYI may impose cooling-off periods after disabling the contract trading function.
  • Pending contract trades will be automatically closed upon disabling the function.
  • Users can reactivate the contract trading function at any time by following the same steps and toggling the switch back to the "On" position.
  • It is advisable to withdraw any open contract positions to avoid potential liquidation risks before disabling the function.

FAQs:

• Q: Why should I disable OYI's contract trading function?

  • A: Disabling the function eliminates the risk of leveraged trading and protects your account from potential large losses.

• Q: What happens to my pending contract trades after I disable the function?

  • A: All pending trades will be automatically closed at market prices, and any resulting profit or loss will be credited or debited to your account.

• Q: How long is the cooling-off period after I disable the contract trading function?

  • A: The cooling-off period varies depending on OYI's policy and may range from several hours to several days.

• Q: Can I reactivate the contract trading function later?

  • A: Yes, you can reactivate the function by following the steps outlined above and toggling the switch back to the "On" position.

• Q: Is it recommended to withdraw open contract positions before disabling the function?

  • A: Yes, withdrawing open positions can help you avoid unpredictable market fluctuations and potential liquidation risks.