You Can Trade EOS on Margin Now on OKEx
Also inside is a handy guide for beginners
It’s been a week since we launched margin trading for EOS on Sep 6. And we are so excited to see it well-received by our community.
EOS trading volume is growing stronger
Having been one of the top digital assets by market capitalization since launched, EOS makes up of a very large proportion of our daily trading volume on our platform at around 18%, and EOS/USDT is the second most-traded pair of all, even ahead of Ethereum (ETH) and many popular cryptocurrencies. As the market demand for EOS trading is surging, we decided to roll out EOS margin trading to meet the needs.
This time, we made available two pairs for margin trading: EOS/UDST and EOS/BTC. In coincidence with the launch of our new margin borrow limit & interest rates schedule, users may trade at a daily rate as low as 0.02%.
What is margin trading?
Margin trading is a more advanced trading option that allows traders to place orders of available digital assets with borrowed funds from OKEx, increasing the leverage or buying power compared to spot trading. It can be a great way to multiply your gains in the market, but it also comes with certain risks that require more market and financial knowledge to handle.
Think of margin trading as a tool to purchase a larger amount of digital assets than you can with the existing fund by accepting a short-term loan from OKEx that you need to repay with interest.
How does it work?
Here are the simple steps to trade on margin:
1. Transfer funds to margin account
Before trading, you need to transfer your funds from “spot account” to “margin account” to buy tokens on margin. In the “Token Trading” page, only token pairs with a “3X” or “3x Leverage” tag are available for margin trading.
You may find “Transfer” on the top right under the “3x Leverage” tag to transfer funds.
2. Select the pair you want to trade on margin
You can simply choose your desired order type and enter the price in the buying/selling column, then adjust the slider to set your trading volume. When the amount exceeds your capital, the system will tell how much you need to borrow.
If you confirm to trade on margin, simply click buy/sell, then you will see a pop-up window showing you your order details. Select “Submit” to complete the order and the margin interest will start to accrue.
3. Repay on time to avoid liquidation
The margin interest will be accrued every 24 hours. You may repay any time before the deadline, but you must repay the loan with the same token you borrowed.
To repay, select the trading pair you have traded on margin, then click “Repay” on the right, enter the repayment amount and submit.
Make sure you understand the game
Margin trading is a double-sided sword. Though it comes with higher potential returns, it also requires more financial knowledge and risk management technique to handle.
Before you dip your toes into margin trading, we strongly advise you read the following articles to understand the rules first:
OKEx Margin Trading Rules
1. General 1.1 These rules are formulated under a lawful, fair and transparent way to maintain reasonable control of…
Margin Trading Glossary
Under token trading page, select the trading pair tagged with "3X" and click "3X Leverage" on the right side to enter…
Risk Warning: Trading digital assets involves significant risk and can result in the loss of your invested capital. You should ensure that you fully understand the risk involved and take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.