วิธีใช้ MEXC

What is MEXC Global?

MEXC Global, once known as MXC, is an exchange built with digital trading in mind. It is centralized and available in over 170 countries, with localized language support that ensures users can access customer care properly.

The platform has incorporated a multi-layer architecture into its design. Users can register for accounts by using either their email addresses or phone numbers. Like most exchanges, it has its own mobile application, both on Android and iOS, with over 1,500 tokens that users can have at their disposal.

Besides this, users also have access to futures, margin, spot trading, and even exchange-traded funds, or ETFs for short, which can be both index-based and leveraged.

Let’s delve into the fundamental trading methods that will help us understand how to effectively use MEXC Global, including spot trading and futures trading. Our journey starts now.

How to Use MEXC Global

To start using this platform, you will first need to register for an account and deposit a few funds. However, this article will focus more on the trading aspect than the onboarding process.

For detailed instructions on how to make a deposit on MEXC, please refer to the following link—How to deposit in MEXC Global.

Please refer to the Register button below to sign up for MEXC Global using our exclusive referral code from Coin-Labs. The button will take you to MEXC Global’s official signup page with our referral code applied automatically. (Additional referral codes from other leading exchanges can be found here.)

How to Spot Trade on MEXC Global?

Here, we will be looking at how you can place orders on the exchange’s spot trading page, along with going into a bit of detail regarding what those orders exactly are.

1. Click Spot
   • To begin spot trading, just head over to its official website, click on the Spot option at the top, and from the drop-down menu, click Spot once more, which will then land you on its spot trading interface.
2. Select Trading Pair
   • On the trading page, you will come across a handful of things. On the right side of the page, you will see the various trading pairs it offers. The list might be a bit too vast for you to go through, so you might want to utilize the search bar. Search for a trading pair that has the token you want to buy, then.
3. Choose Order Type
   • Towards the left, you will come across the order books, and below, in the middle of the trading page, there will be the buy and sell sections. Currently, there are three types of orders you can place, which include market, limit, and stop-limit.
     • Market Order
       • A market order can be thought of as a command that can be automatically executed at the existing price that is circulating within the market. It can be carried out instantly, with the existing market rate determining the price at which an order is initiated within the order book. The order book shows the supply and demand activities for a certain token. It is available publicly for all to see, with its data subject to change as traders modify, add, and withdraw orders.
       • Traders who execute market orders need only specify the amount of a token they wish to purchase or sell. They do not need to state the price since that will be based on the current best rate within the market.
       • So, let us assume that you want to purchase five LTC tokens, with the current price for one token being $60. You will have to pay $300 then, and your trade will be immediately executed. That said, if you don’t feel comfortable paying that much and want to purchase at a reduced price, then you can use a limit order, which we will discuss below.
     • Limit Order
       • An order that buys or sells tokens at predetermined prices is called a limit order. Still, these orders aren’t guaranteed to be executed since they are only triggered if prices reach the point where those limits are set.
       • Limit orders can come in handy when you are in no rush to perform a trade and instead are keen to execute it at a specific price. They can guarantee that your trades are carried out at the price you want by stopping you from receiving less or paying more than the price specified.
       • For example, you can set limit orders where you plan on buying $3000 worth of ETH when the price reduces to $2500. Likewise, if you plan on selling, you can set a limit order where you can sell the same token when its price rises to $3000 again. In other words, you just need to place an order and wait until the price triggers it. Still, there is no guarantee that the prices you set will actually reach those levels, which further implies that your orders might not get triggered.
     • Stop Order
       • The other type of order that you will find on the spot trading page is stop-limit. However, before we discuss what that is, we will have to take a brief look at what a normal stop order is.
       • In a stop order, a token can be sold or purchased once the stop price is reached. It will then become a market order that will be executed at the next accessible price so that the profit can be locked in.
       • So, if the price of a token keeps on falling, you can set a sell-stop order to limit any potential losses. Once that price hits your sell-stop price, your order will be automatically triggered, and the position will be sold at the next price that is available, which will stop you from incurring more losses. However, the risk here is that the next price might be lower than what you expected, which is where a stop-limit order comes in.
     • Stop-Limit Order
       • So, when you are setting a stop-limit order, you will have to specify both the limit price and the stop price. The limit price will then be triggered by the stop price once the price reaches the stop price. For instance, let’s say that one ETH token is worth approximately $1300, and you wish to purchase it when there’s some bullish momentum for it. You can then set a buy-stop limit order where your stop price can be $1360, and your limit price can be $1400. Once the price goes above your stop price, then your order will be triggered, producing a limit order. Consequently, these orders can be ideal for traders who desire protection from severe price fluctuations.
4. Place Your Order
   • Now that you know what to expect from each order, you can set up whatever order you desire, depending on your trading needs. However, before you do that, you may have to transfer a few funds to your spot trading account. To do that, simply click the Transfer button, or you can buy some cryptocurrency using its other options.
   • Once you have acquired the funds you need, simply toggle between the different options on the MEXC spot trading page, enter the amount you want to purchase, and set the stop and limit prices accordingly. Or just enter the token amount if you are placing a market order.

For detailed instructions on withdrawing from MEXC, please refer to the following link—how to withdraw from MEXC.

How to Trade Futures on MEXC Global?

Besides spot trading, MEXC Global also offers futures and more. However, going into detail regarding those options is beyond the scope of this article. Still, if you have a fair bit of an idea of how futures trading works, you can simply click the 1X-200X Futures option on the spot trading page, and you will then be redirected to its futures page. Over there, you can adjust leverage and choose between isolated and cross-margin modes, along with opening and closing various positions. (Please refer to the following link for a comprehensive YouTube video from MEXC’s official channel for further information about futures trading—MEXC | Futures Trading Tutorial)

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