How to Deposit in a Margex Account
User Interface and Experience
How to deposit in a Margex account. The Margex platform has an intuitive trading interface. It's not only easy-to-use and highly responsive but also pleasing to the eye. By default, it comes with a black background that allows you to follow the chart and spot movements immediately.
However, traders can face some liquidity issues. Since Margex is a new exchange, its daily trading volume isn't as high as other popular exchanges. So, sometimes, your orders may get stuck and take a while to execute(How to deposit in a Margex account).
Margex Deposit and Withdrawal Methods
A big benefit of using Margex is that it supports deposits in the form of crypto and fiat. If you want to deposit crypto, Margex allows you to make BTC deposits from any BTC wallet. If you want to deposit fiat, Margex supports bank card deposits via Changelly.
While deposits are instant in most cases, sometimes they may take up to two hours to reflect.
Margex requires you to make a minimum deposit of at least USD 10 to start trading. However, by making a deposit greater than 0.004 BTC, you can avail of a USD 50 registration bonus.
Similarly, Margex allows you to withdraw funds in Bitcoin and fiat. There are no withdrawal fees; however, the execution of withdrawal requests may take some time, depending on the funds available in the hot wallet(How to deposit in a Margex account).
How To Start Trading on Margex?
If you're never traded cryptos before, starting trading Margex can be intimidating. Let's make things easier for you.
Here is a step-by-step guide to getting started with margin trading on Margex.
1. Open an Account on Margex
The first step is to open a trading account. Head to the Margex Account Opening page and open your account. Margex is an anonymous crypto derivatives exchange and doesn't require any KYC. Hence, you can open your account with an email address and password only.
2. Deposit Funds in Your Wallet
Once you have opened your account, the next step is to deposit funds. As mentioned, you can add funds to your wallet in BTC and fiat. Add a minimum of USD 10 to start trading, or more than 0.004 BTC to get a USD 50 sign-up bonus.
Since Margex offers high leverage of up to 100x, you can start trading with a minimal margin.
3. Place Your First Trade
Once you have funded your account, it's time to place your first order. To do that, follow these steps.
Select the trading pair you want to trade.
Enter your position size (the number of contracts you want to trade)
Enter the leverage you want to use. The more leverage you use, the less initial margin you'll need to place a trade.
Select the order type - limit or market
Click on Buy or Sell.
That's it. You have entered your first trade on Margex.
4. Close Your Position
The final step is to close your open position. You can do that in two ways.
You can manually close your position by placing a market order at the current price.
You can use a conditional order (How to deposit in a Margex account) to exit your position at a specific price point.
It's always recommended to use conditional orders to exit your positions. Doing so has two benefits:
You can limit your losses, and thus, your risk.
You can take away the desired profit without losing it.