how to use mexc futures

To place an order on MEXC Futures, navigate to the "Futures" section, select the desired contract, and choose an order type (market, limit, or stop) while specifying the quantity and leverage.

Nov 04, 2024 at 12:09 pm

How to Use MEXC Futures

1. Create a MEXC Account
If you don't already have one, create a MEXC account by visiting the official website. Provide your email address and create a secure password.

2. Fund Your Account
Once your account is created, fund it with the cryptocurrency you wish to trade. MEXC supports a wide range of cryptocurrencies, including BTC, ETH, USDT, and more.

3. Go to the Futures Market
Navigate to the "Futures" section of the MEXC platform. Here, you can select the futures contract you wish to trade, such as BTC/USDT, ETH/USDT, or others.

4. Place an Order
To place an order, select the "Order" tab and choose the type of order you want to execute. MEXC offers various order types, including:

• Market Order: Executes immediately at the current market price.
• Limit Order: Executes only if the market price reaches a specified limit price.
• Stop Order: Executes when the market price reaches a predetermined stop price.

5. Enter Order Details
Specify the quantity and leverage you want to use for your order. Leverage amplifies potential profits but also increases risk. Use caution when selecting leverage.

6. Manage Your Position
Once the order is placed, you can monitor its status and adjust it as needed. MEXC provides real-time charting tools and position management features to help you manage your trades effectively.

7. Close the Position
To close your futures position, go to the "Position" tab and select the position you want to close. Choose the "Close" option to exit the trade.

Tips for Using MEXC Futures:

• Understand leverage: Leverage can magnify profits but also losses. Use it wisely and within your risk tolerance.
• Set stop-loss orders: Stop-loss orders help mitigate potential losses by automatically closing your position if the market moves against you.
• Monitor your positions: Keep an eye on your open positions to ensure they are performing as expected. Adjust or close them if necessary.
• Practice risk management: Futures trading involves inherent risk. Always manage your risk carefully and never invest more than you can afford to lose.
• Utilize MEXC's trading tools: MEXC offers various trading tools, such as charting and analysis features, to enhance your trading experience.