How to start trading on QFEX

1. Create an account

1. Anyone who meets QFEX's onboarding requirements can create an account; an invitation code is optional. source ↗
2. QFEX supports Sign-In with Ethereum: signing a message with an EVM wallet creates your account the first time and logs you in after that. Signing costs no gas and does not let QFEX move your assets. Solana wallets cannot be used to sign in. source ↗
3. Before you can trade you must pass know-your-customer (KYC) screening and provide the information QFEX asks for. If your information cannot be verified, you will not be allowed to use the service. source ↗
4. QFEX does not onboard new users from many locations, including the United States, United Kingdom, Spain, Ukraine, Russia, Belarus, Iran, North Korea, Syria, Myanmar, Venezuela and Sudan. The list is not exhaustive. source ↗

2. Deposit collateral

1. Open Deposit / Withdraw from the account header, select Deposit funds, choose USDC and send USDC on Arbitrum One to the address shown in the app. source ↗
2. Only send USDC over Arbitrum One. Deposits sent with a different asset or network may be lost. Client funds are held by BitGo Bank & Trust, National Association. source ↗
3. You can also fund in USD by bank transfer: choose USD in the same deposit flow. Transfers must be domestic, and ACH deposits take 1-3 business days. source ↗
4. The funding API also lists USDT on TRON. The current minimum deposit and required confirmations are shown on the QFEX funding screen, and a deposit is credited only after it is confirmed. source ↗

3. Open your first position

1. QFEX runs a central limit order book. Order types are Market, Limit and Add Liquidity Only (ALO, cancelled if it would match immediately). Any of them can carry a take-profit and stop-loss price. source ↗
2. Market orders can only be Immediate-or-Cancel. Limit orders can be Fill-or-Kill, Immediate-or-Cancel or Good-Till-Cancelled, and ALO orders are Good-Till-Cancelled. source ↗
3. All products are cross-margined, and you can set leverage below the maximum. Maximum leverage is 7x on active Korean equities, 10x on other equities, CL-USD and DRAM-USD, 20x on other commodities and 30x on indices and funds. source ↗
4. At the entry fee tier (under $2m effective 30-day volume) taker fees are 0.05% on commodities and indices and 0.10% on single stocks; maker fees are 0.02% and 0.05%. source ↗

4. Know how liquidation works

1. When account equity falls below maintenance margin, resting orders are first made reduce-only. Between half the maintenance margin and the maintenance margin, positions are liquidated on the order book at mark price plus or minus a liquidation spread. source ↗
2. At or below half the maintenance margin, remaining positive equity goes to the Reserve Fund and positions are moved to a designated liquidity provider; auto-deleveraging is the last step. You get email and browser alerts at 75% and 66.6% of initial margin. source ↗
3. While reference markets such as NYSE or CME are closed, your position may be at most 50% of the normal limit overnight and 10% at weekends. Above that, you can only reduce exposure. source ↗
4. Funding is settled every 60 minutes, but only during each symbol's market hours. Outside those hours the funding rate is 0. source ↗

5. Withdraw

1. Withdrawals start from Deposit / Withdraw. The amount you enter is the gross amount; QFEX deducts the withdrawal fee and sends the rest, so check the current fee there first. source ↗
2. Crypto withdrawals are supported as USDC on Arbitrum One and USDT on TRON. An accepted request may still be queued or held for manual review before the on-chain transfer. source ↗
3. USD bank withdrawals cost 0.1% + $1 by ACH or 0.1% + $10 by wire. ACH takes 1-3 business days; wire takes same day to 1 business day. source ↗
4. QFEX may delay, suspend or refuse a deposit or withdrawal for compliance or security reviews, suspected fraud or risk management. source ↗

6. Common mistakes

1. Markets trade 24/7 even when the underlying market is closed. Prices then rest on limited information, and gaps when the market reopens can trigger liquidations. source ↗
2. Buy orders above the upper price band and sell orders below the lower band are rejected. For US equities the band is 10% during the open session and 5% at close and weekends. source ↗
3. Limit orders pass through a 500ms speed bump; cancels and orders that add liquidity are not affected. source ↗
4. Your fee is set by the tier you are in when the order is placed, and tier updates can take some time. source ↗

Before you trade

Perpetual futures use leverage: a small price move against you can liquidate your collateral. Start with a small amount and low leverage, and read the venue’s current fee and margin pages, which can change after this guide was checked.