What are the steps to use margin trading on Binance?

1 answers

• Dec 15, 2021 · 3 years ago
  Margin trading on Binance can be a game-changer for experienced traders. Here's a step-by-step guide: 1. Log in to your Binance account and navigate to the 'Trade' tab. 2. Click on the 'Margin' option in the top menu. 3. Complete the margin trading agreement and pass the eligibility test if you haven't done so already. 4. Transfer funds from your spot wallet to your margin wallet. 5. Select the trading pair you want to trade on margin. 6. Choose your desired leverage level. Binance offers leverage options ranging from 3x to 125x. 7. Enter the amount you want to borrow and the price at which you want to open the position. 8. Review your order details and click on 'Confirm' to execute the trade. Remember, margin trading carries a higher level of risk, so it's crucial to have a solid understanding of the market and use proper risk management strategies.
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