Do you have a demo account?
Unfortunately, the FYBIT trading platform does not support demo accounts. Trading takes place only on real accounts.
Are market order fees higher than limit order fees?
On the FYBIT trading platform, the trading fees for the market and limit orders are the same.
How do I place an order?
To place an Up/ Down order:
- Choose a Market or Limit;
- Enter an amount within the available balance in your wallet;
- Enter the Stop-loss price (optional);
- Choose a leverage size;
- If you have chosen a Limit, enter the desired order execution price;
- If you select a Market, you won't be asked to enter the desired execution price, since the order will be executed at the market price;
- Once you click on either the [Buy] Up or Down buttons, your order will be placed.
How do I place buy limit orders?
If you want to place a Limit order at the desired price, you need to place an UP Limit order only below the market price and a DOWN Limit order only above the market price. Otherwise, orders will be executed at the market price.
How do I place sell limit orders?
If you have an open UP position, you can send a SELL Limit order only above the market price. If an order is sent below the market price, it will be executed immediately. If you have an open DOWN position, you can send a SELL Limit order only below the market price. If an order is sent above the market price, it will be executed immediately.
How do I calculate loss cut?
The Loss Cut price is set automatically when you open a position. To calculate the exact liquidation price, you must use the following formulas:
For UP positions:
Execution price * (100% - (100% - ((fee% + fee%) * leverage + 20%)) / leverage)
For DOWN positions:
Execution price * (100% + (100% - ((fee% + fee%) * leverage + 20%)) / leverage)
How to close a position?
In order to close a position at the market price, click on the [SELL Market] button in the trading terminal. If you want to close a position at a specific price, select [SELL Limit] or [Stop Loss] in the trading terminal and enter the desired price at which you want to close a position. Also, you can enable the auto-sell option. When the profit at the average price of a position will reach 100%, this position will be sold at the market price by an auto-sale system. The auto-sale function can be turned on/off on the right of the [Chart] page. You can choose between 100%, 200%, and 300%. This feature is useful for responding effectively to rapid price changes on the market or for planned sales.
Can I close part of the position?
You can only close the entire position as a whole. Partial closing of a position is not available. If you close your position, it will be closed completely.
If I open another same-directional position, what will happen?
Positions that have been opened in the same direction will be merged into one. The leverage and the amount of the order do not matter. Your position will be averaged.
Will positions be merged into one if I use the balance of different cryptocurrencies?
No, if you open a new position using balance of a different cryptocurrency, then the new position won't be merged with the already opened position.
How long can I hold my position?
An open position has a validity period of up to 120 hours. Positions that you don't sell at the end of their validity period will be automatically sold at the market price. Automatic sales occur during the last hour of the period, between the 119th and 120th hours.
Note that the maximum validity period for an open position cannot exceed 240 hours. Automatic sales occur during the last hour of the period, between the 239th and 240th hours.
Can I open the opposite direction order in one position?
Yes, you can open opposite UP and DOWN direction positions.
What are my risks with an open position?
The maximum loss is equal to the number of funds in the position. You cannot lose more than 100% of the position amount.
For example, if you've opened a position in the amount of 100 USDT with 100x leverage, the maximum loss would be 100 USDT.