public

MCS | Q&A on MCS, the Derivatives Trading Platform!!(2/2)

13 days ago

Latest Post MCS | Biden's Victory, The Beginning Of The USD Bear Market? public

#Be_a_Trader!

Greetings from MCS, the derivatives trading platform where traders ALWAYS come first.

Greetings from MCS, the derivatives trading platform where traders ALWAYS come first.

Since its launch on June 15th, MCS, the crypto derivatives trading platform, has been growing at an alarming rate. Thanks to the supports of our traders all over the world, our support team received over 10,000 inquiries about MCS . Today, we organized a Q&A list that MCS traders frequently asked about MCS.
👉 This is a part 2 of the list, please click the following link to see part 1: https://blog.mycoinstory.com/q-a-on-mcs1/

Q1. What's a maker order and a taker order?

A maker order is a limit order or conditional order that goes to the order book and adds to the market depth and provides an active market. A taker order is an order that are immediately fulfilled before they go to the order book and decrease the market depth by taking orders from the order book. In other words, a maker order refers to all orders placed in the order book, and a taker order refers to an order that is signed with the orders listed in the order book to eliminate the number of orders from the order book. For more information on maker and taker orders, click here.

Q2. What is the function of the liquidation system?

Unlike spot trading, you can trade a crypto derivative with leverage on MCS. Leverage means that you can trade more than your own assets, and if a trader loses more than his or her own margin, there is a liquidation system to control the loss within the margin. For more information on liquidation, click here.

Q3. When do withdrawals take place?

Withdrawals are taken place On-Demand between 0000 UTC ~ 1500 UTC. Any requests made after 1500 UTC will be processed at 0100 UTC on the following day.

Q4. Do i need a KYC?

You are free to use all MCS services without KYC.

Q5. I can't receive the confirmation mail when signing up on MCS.

The confirmation mail for registration on MCS will be sent immediately. If you can't see the mail right away, please check the spam box!

Q6. What is Auto Deleveraging(ADL)?

Auto Deleveraging (ADL) is a contract loss mechanism that is activated when a contract loss occurs and the insurance fund is not sufficient to compensate for the loss. If ADL is triggered, the trader's position will be compensated by auto deleveraging the positions of traders with high ADL ranking. For more information on Auto Deleveraging(ADL) and ADL Ranking, click here.

Q7. Why order costs are different for short and long orders?

First of all, the formula for calculating order costs is as follows.

Order Cost=Initial Margin + 2-way taker fee (Fee to Open* + Fee to Close**)

The reason why there is a difference in order costs between short and long orders is that the bankruptcy prices calculated from the fees to close are different. For more information on order costs, click here.

Q8. Can I deposit fiat currencies or USDT?

Currently MCS only supports deposits and withdrawals of Bitcoin. There is still no plan to support deposit and withdrawal of fiat currencies, and deposit and withdrawal of USDT will be supported later.

Q9. MCS derivatives are all USDT pairs, why USDT deposit is not accepted?

Among the derivatives released on MCS, except for perpetual contract of BTC/USDT, all the other derivatives are quanto products. A quanto futures contract refers to a derivative instrument that is settled as another asset rather than either the base currency or the counter currency in the trading pair. For example, an ETH/USD derivative product, which is not settled in either the base currency ETH or the counter currency USD but is settled in BTC while margining in BTC, is a quanto futures derivative. Click here for more information on quanto futures contract formulas.

Q10. What are mark price, last traded price, and index price?

Index price represents the weighted average spot price of the major spot exchange prices. For example, the index price of a BTC/USDT derivative is the average value that refers to the spot prices of Bitcoin on 7 major exchanges. The mark price is a real-time spot price on major cryptocurrency exchanges. The last traded price is the current market price on MCS. Both index price and last traded price are the main elements that constitutes the dual price mechanism. For more information on the dual price mechanism, click here.

Traders ALWAYS come first on MCS.

Thank you.

           

START TRADING

   

MCS Website: https://mycoinstory.com/
MCS Official Twitter (EN): https://twitter.com/mycoinstory_mcs
MCS Official Facebook: https://www.facebook.com/MyCoinStory.official
MCS Telegram Chat (EN): https://t.me/mycoinstory_EN

   

     

MyCoinStory

Published 13 days ago