How to Use the USDⓈ-M Easy Trade Mode on Binance Futures?
2022-10-19 09:59
Introduction
Frequently Asked Questions
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Binance Futures’ USDⓈ-M Easy Trade Mode provides users with a simplified and more straightforward interface. You can access the USDⓈ-M Easy Trade Mode from the Pro version of the Binance app. For more details, please refer to How to Use the Pro Version on the Binance App to Buy and Sell Crypto.
1. How to activate the USDⓈ-M Easy Trade Mode?
1. Log in to your Binance app and ensure you’re using the Pro version. Tap [Futures] at the bottom.
2. You’ll be redirected to the Futures USDⓈ-M trading interface. Tap the [...] at the top right to access more trading features. Select [Easy] next to [Trade Mode].
2. How to place orders on the USDⓈ-M Easy Trade Mode?
1. Select the symbol you want to trade.
2. Choose the margin mode, adjust the leverage, and select the asset mode.
3. Choose [Buy] or [Sell].
4. Enter the order amount (quoted in USDT or USDC).
3. How to monitor open positions?
Similar to the Classic Trade Mode, you can view all your open positions under the [Positions] tab. You can also view your traded symbols and their equivalent USDT amount in the USDⓈ-M Easy Trade Mode.
The PNL/ROI (%) is calculated using the Last Price of the traded asset in the order book.
To close your position, tap [Market Close], and the system will close it using a market order. Please note that you can close an open position without switching to Multi-Assets Mode.
To share your position details, including the symbol, leverage, direction, unrealized PNL, Entry Price, and Last Price, tap the share icon.
4. How to check my USDⓈ-M Wallet balance?
To view your USDⓈ-M Wallet balance, go to the [Balance] tab. Here, you can view the total USDⓈ-M Wallet balance, as well as the balance and margin contribution for each asset.
To transfer assets to your USDⓈ-M Wallet, tap [Transfer].
Easy Trade Mode is a simplified execution mode designed for users who prefer a more straightforward trading experience. It allows them to open or close futures positions in just a few clicks. Users are provided with a quote beforehand, allowing them to know the exact trade price in advance.
2. What are the trading fees and spreads on USDⓈ-M Easy Trade Mode?
2.1 Symbols with zero fees
When you see the tag “0 Fee exclusively on Easy Mode” as shown below, USDⓈ-M Easy Trade Mode operates on a zero-fee basis, meaning no explicit trading fees are charged.
However, trades are subject to spreads—the difference between the bid and ask prices. This spread represents the cost of trading and can vary based on market conditions. Easy Trade Mode focuses on faster execution, applying the quoted price or better to your orders.
Unlike traditional order book trading, which may lead to partial fills or unfilled orders (e.g., IOC orders), Easy Trade Mode ensures execution certainty. When placing a trade, you are quoted a fixed price, and your order is either fully executed at that price or rejected—there are no partial fills.
2.2 Symbols still routed to the Order Book (subject to change)
For symbols where the “0 Fee exclusively on Easy Mode” tag is not displayed, trades are executed via the traditional order book. These trades follow the same process as classic futures trading, where orders may be subject to regular fees and could result in partial fills or rejections depending on market liquidity and conditions
3. Why was my order rejected?
Your order may have been rejected if the market price changed before confirmation.
Easy Trade Mode ensures that orders are executed at the quoted price or better. If the price moves unfavorably before the order is confirmed, it may result in a rejection to prevent execution at a less favorable price.
Easy Trade Mode mode also has a price protection mechanism. This feature helps protect users by rejecting any position opening orders that deviate significantly from the current mark price, considering your leverage.
If you receive the error message, "Price for symbol is not available at this leverage. Please try again with a lower leverage." while using Easy Trade Mode, it may be due to this protection mechanism.
In such cases, you can consider lowering your symbol leverage or switch to Classic mode for more flexibility.
4. Why is my trade price different from the order book price?
(Applicable to symbols with the tag “0 Fee exclusively on Easy Mode”)
Easy Trade Mode operates differently from traditional order book trading. It offers a simplified interface where users are provided with a fixed quote before trading, which is different from the mark price used in the order book. Since this method guarantees either a fully filled or rejected order, no open orders remain. As a result, trade prices may differ from the order book prices. Additionally, this system can offer price improvements if the quoted price changes favorably.
5. What type of orders are in Easy Trade Mode?
Orders placed in Easy Trade Mode are Limit Fill-Or-Kill (FOK) orders. This means they will either be fully filled at the quoted price or better, or they will be rejected entirely.
6. Why don’t I see any price when I close my position?
When closing a position in Easy Trade Mode, the system uses a Limit Fill-Or-Kill (FOK) order to close the trade. Currently, the closing price may not be displayed, but this feature is expected to be updated in future releases to include the closing price.
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