How to play mobile AscendEX margin trading

Margin trading on AscendEX requires account opening, funding, enabling margin trading, selecting a trading pair, placing a margin order, managing the position, and ultimately closing it when desired.

Nov 26, 2024 at 11:40 am

How to Play Mobile AscendEX Margin Trading

Margin trading is a popular way to increase your potential profits in the cryptocurrency market. By borrowing funds from an exchange, you can trade with more capital than you have on hand. This can lead to larger profits, but it also comes with increased risk.

If you're new to margin trading, it's important to understand the risks involved before you start. You should also familiarize yourself with the different types of margin trading orders available.

In this guide, we'll show you how to play mobile AscendEX margin trading. We'll cover everything from opening an account to placing your first trade.

Step 1: Open an AscendEX Account

The first step is to open an AscendEX account. You can do this by visiting the AscendEX website and clicking on the "Sign Up" button.

Once you've created an account, you'll need to verify your identity. This is required by law in most jurisdictions. You can verify your identity by providing a government-issued ID and a proof of address.

Step 2: Fund Your Account

Once your account is verified, you'll need to fund it with cryptocurrency. You can do this by depositing cryptocurrency from another wallet or by purchasing cryptocurrency with a credit or debit card.

Step 3: Enable Margin Trading

Once your account is funded, you'll need to enable margin trading. To do this, click on the "Margin" tab in the AscendEX app. Then, click on the "Enable Margin Trading" button.

You'll be asked to agree to the AscendEX Margin Trading Agreement. Once you've agreed to the agreement, you'll be able to start margin trading.

Step 4: Choose a Trading Pair

The next step is to choose a trading pair. A trading pair is a pair of cryptocurrencies that you can trade against each other. For example, you could choose to trade BTC/USDT or ETH/USDT.

Step 5: Place a Margin Order

Once you've chosen a trading pair, you can place a margin order. There are two types of margin orders: market orders and limit orders.

• Market orders are executed immediately at the current market price.
• Limit orders are executed at a specific price.

To place a margin order, click on the "Trade" tab in the AscendEX app. Then, enter the amount of cryptocurrency you want to trade and the order type.

Step 6: Manage Your Margin Position

Once you've placed a margin order, you'll need to manage your margin position. This includes monitoring your profit and loss and adjusting your leverage as needed.

You can manage your margin position by clicking on the "Positions" tab in the AscendEX app.

Step 7: Close Your Margin Position

When you're ready to close your margin position, click on the "Close Position" button. You'll be asked to confirm the closing price.

Once you've confirmed the closing price, your margin position will be closed.