How to start trading on Binapex?
Easy. Press the registration button and create an account with Binapex. Activate your account using the link in the registration letter sent to your e-mail. Fill the required fields in the Profile. After that, you can start trading on Binapex. All Binapex features will be available to you.
If you upload scanned copies of the required documents to Binapex and verify your account, your deposit and withdrawal limits shall increase.
To start trading you have to:
- top up you Binapex balance in desired currency;
- create your first bid or ask order.
Is margin trading available on Binapex?
Yes, a number of trading pairs on Binapex are open for margin trading. Binapex provides leverage up to х100. Check Margin Trading section to find out more. Note that not all markets are open for margin trading. Markets available for margin trading are highlighted in green.
I want to perform margin trading on a specific market, but I do not see any fields for creating a margin order
That means that this marked is not available for margin trading and it is not highlighted in green in the market list.
What is the difference between margin trading and regular trading?
In regular trading on Binapex, you use only your own funds from your balance. You cannot create a standard order for the amount greater than that available on your balance.
With margin trading, you receive a loan from Binapex with a leverage up to x100 of the amount available on your balance and trade with borrowed funds. Margin trading allows trading larger amounts and make greater profits. On the other hand, margin trading bears higher risks in case if you misjudged the market dynamics.
What is the difference between margin orders and regular orders?
There is no difference between margin order and regular order on Binapex. All orders proceed to the single market where they are executed according to common rules.
In the eyes of the user, the only difference is that margin order is created using borrowed funds.
How to create an order?
Find out more about how to create ask or bid order in the «Information» section and «Getting Started» guide.
How to cancel an open order?
To cancel open (not executed) order, visit Open orders section in your account. Choose the order and cancel it by clicking the icon on the right.
How to cancel performed order?
Cancelling already executed order is impossible.
What is available and used balance?
Each market has Available and Used values for all available currencies, indicated above the forms for creating bid and ask orders. Available shows how much of the specific currency is currently available for client and can be used for creating new orders. The Used value indicates how much of the specific currency is reserved for open (unexecuted) orders. The Used value includes deposits held for creating margin orders. After the execution/cancellation of the orders and closing of the margin positions, the released funds appear in the Available field.
When the order fee is charged?
The Binapex fee of 0,2% of the order amount is charged when the order is executed. This applies for regular orders as well as for orders on the margin market.
There is not fee for created and cancelled (unexecuted) orders. . This applies for regular orders as well as for orders on the margin market.
When the fee for using borrowed funds is charged?
The fee for using borrowed funds is charged every hour. The fee for using borrowed funds is 0,0125% of the loan amount per hour.
Where to check my trading history?
To see your trade history you have to visit your account and click Trade history section. The section contains full history of the executed orders.
The time of creating / executing an order I see on Binapex is different from the time I see on my watch
The Binapex trading services use UTC ±00:00 time. In accordance with UTC, there is no switch to winter and summer time. All trade and other transactions on Binapex are recorded in UTC ±00:00.