How to return currency on AscendEX cross margin

By following the steps outlined, traders can easily return borrowed funds on the AscendEX cross margin trading platform, effectively managing their positions and minimizing risks.

Nov 24, 2024 at 07:56 pm

Understanding Cross Margin Trading on AscendEX

AscendEX offers a cross margin trading feature that allows traders to borrow funds from the platform to increase their trading leverage. This can amplify potential profits, but it also increases the risk of losses. To return borrowed funds and close out cross margin positions, follow these steps:

1. Log in to Your AscendEX Account

• Visit the AscendEX website and enter your login credentials.
• Once logged in, navigate to the "Margin" tab.

2. Select the Cross Margin Account

• Under the "Margin" tab, click on the "Cross Margin" option.
• This will display your cross margin account balance and open positions.

3. Choose the Asset to Return

• Identify the asset you wish to return from the list of open positions.
• Click on the "Details" button for the corresponding position.

4. Calculate the Amount to Return

• In the position details, you will see the "Borrowed" amount.
• Determine the portion of the borrowed funds you want to return.

5. Return the Funds

• Enter the amount you wish to return in the "Return" field.
• Click on the "Confirm" button to execute the repayment.

6. Confirm the Transaction

• AscendEX will process your repayment request and deduct the funds from your cross margin account balance.
• You will receive a confirmation message once the transaction is complete.

7. Monitor Position Updates

• After returning the borrowed funds, your cross margin position will be updated accordingly.
• The "Borrowed" amount will decrease, and your account balance will increase by the amount returned.

8. Close Remaining Positions

• If you wish to close out your cross margin positions completely, you must return all borrowed funds.
• Repeat steps 3-6 for each open position until the "Borrowed" amount is zero.
• Once all positions are closed, your cross margin account will be liquidated, and any remaining funds will be credited to your regular account.

Conclusion

Returning borrowed funds on AscendEX cross margin is a straightforward process. By following these steps, traders can repay their obligations and manage their cross margin positions effectively. It is important to note that cross margin trading carries significant risks and should only be used by experienced traders.