1. 1

   Opening a position

2. 2

   Cancelling or editing an open order

3. 3

   Closing a position

4. 4

   Setting Leverage

5. 5

   Additional Information

Opening a position

Choosing Cross or Isolated Leverage

Before placing an order to open a position first decide whether you want to trade with cross or isolated margin. The option to toggle between cross and isolated margin is located to the right of the trading pairs menu. 

Cross is selected by default. Clicking on “Cross” will let you toggle between cross and isolated margin. 

More info is available below under “Setting Leverage”.

Placing an Order

The order form by default has a Limit order chosen on the Buy side. 

You can toggle between order types, order direction and additional order options here.

The quantity is denominated in the base asset of a trading pair and price denominated in USD. The notional USD value of your order will be displayed after inputting the parameters. 

Opening a Position and Placing a Stop Loss Simultaneously 

You can also place Stop Loss or Take Profit orders for your position simultaneously to opening it by checking the box for Stop Loss or Take Profit, which will be reduce-only market orders by default.

To place Stop Loss or Take Profit Limit orders instead, place a separate order after opening your position and click on the “Stop Loss” drop-down below the Buy and Sell buttons to select your desired order type.

Here’s an example of a Limit Buy order with a Stop Loss: 

After clicking “Place Buy Order” you will see the order placed below in the Account Activity window; the Limit order under “Open Orders” and the Stop Loss under “Trigger Orders”.

Clicking on either “Open Orders” or “Trigger Orders” will show you the unfilled order’s details. 

Cancelling or editing open orders

You can cancel or edit any unfilled or partially filled open orders. 

When viewing your orders under “Open Orders” (Limit orders) or “Trigger Orders” (Stop Loss, Take Profit and Trigger Entry orders) you will see the buttons to edit or cancel on the right-hand side. 

To cancel an order, simply click on the red “cancel” button next to your order and it will be removed from the order book. If you have multiple open orders and you wish to cancel all of them, click on “Cancel All Orders”. There is no confirmation pop-up – orders will be cancelled immediately on clicking these buttons. 

To edit an order, click on the “Edit” button. A pop-up box will appear where you can modify your order’s details. 

Only price and quantity can be edited on open limit orders and trigger orders – in order to change the order type and or the trigger signal, the open order/trigger needs to be cancelled and re-submitted with updated parameters.

Note that adjusting the price can cause the order to immediately execute or be rejected depending on market conditions. For example, editing a Limit buy order to a price above the current market price will cause that order to execute immediately as a Taker order (or rejected if post-only is checked).

Closing a position

To close a position you need to place an order in the opposite direction. If you opened a long (buy) position your closing order must be a short (sell) order, and vice versa. This can be done with a limit or a market order, whether submitted directly or attached to an activated trigger order such as stop loss or take profit. See Order Types.

To close the entire position the quantity for your closing order must match the size of your position. Alternatively you can reduce the size of your position with several smaller orders. 

While your closing order can be placed via the order form with an opposite-direction order, you can also close it by clicking on “Limit” or “Market” on the right-hand side of your position under “Open Positions”.

Placing closing orders directly from “Open Positions” helps you quickly exit a position provided there is sufficient supply/demand on the order book. The order direction and quantity is selected automatically. When clicking “Market” here a confirmation pop-up box will appear so you can cancel in case you clicked by mistake. 

Setting Leverage

Cross Margin 

The Multi-Collateral order form has “Cross” margin selected by default. 

With cross margin positions the leverage level is determined by the size of your position(s) versus the collateral balance of the trading wallet. The system itself offers no options to predetermine the leverage level, it is determined entirely by the user’s chosen position size in relation to their collateral balance. To read more details on this topic see “Effective Leverage” in Portfolio Management.

After opening a position with cross margin the effective leverage level can be monitored under “Open Positions” as shown below: 

Isolated Margin 

You can use isolated margin for a position to restrict risk. With isolated margin selected that position’s margin is isolated from the rest of your collateral balances. 

If you wish to use isolated margin click on “Cross” next to the trading pairs dropdown to change to “Isolated” margin and vice versa to switch it back: 

After clicking on the dropdown menu “Cross” the margin preferences pop-up will appear. You can switch between isolated and cross margin, set the leverage level for isolated positions and change the desired profit payout currency here. 

Note: Margin can only be edited prior to opening a position. Once the position is open, these preferences cannot be changed for that contract.

Profit currency preferences can be changed prior to opening a position or once it is open. Once the position is closed and profit is realised, the PnL currency for the closed position cannot be changed.

When using isolated margin you can change the leverage level after a position has been opened by adding or removing collateral, shown here: 

It is not possible to have both isolated and cross positions on the same contract concurrently but you can have isolated and cross positions on different contracts.