A Perpetual Contract is a product similar to a traditional Futures Contract in how it trades, but does not have an expiry, so you can hold a position for as long as you like. Perpetual Contracts trade like spot, tracking the underlying Index Price closely. It achieves this via the mechanics of a Funding component.
A Futures Contract is an agreement to buy or sell a commodity, currency or other instrument at a predetermined price at a specified time in the future.
offers perpetual contracts and many different fixed-date expiries.
The Mark Price is the price at which the contract is marked for Unrealised PNL and Liquidation purposes.
indices are calculated using a weighted average of last Prices. See Earnfx indices.
marks contracts according to the Fair Price Marking Method. This price determines your Unrealised PNL. Realised PNL will be determined according to your entry price and your exit or Settlement Price and any fees incurred.
The Settlement Price is the price at which a Futures contract settles. To avoid price manipulation, Earnfx employs an averaging over a period of time prior to settlement and this time frame may vary from instrument to instrument. Please reference each contracts’ specification that you wish to trade.
In the Trade tab, on the “Place Order” section you can specify the quantity, price and direction.
A Bid is a standing order where the trader wishes to buy a contract at a specified price and quantity. An Ask is a standing order where the trader wishes to sell a contract at a specified price and quantity.
has an anchor market maker who continuously quotes large sizes on contracts that Earnfx offers. No special privileges are given to any of the market makers.
Yes, Earnfx offers leverage on all of its products.
The amount of leverage Earnfx offers varies from product to product. Leverage is determined by the Initial Margin and Maintenance Margin levels. These levels specify the minimum equity you must hold in your account to enter and maintain positions. Leverage is not a fixed multiplier but rather a minimum equity requirement. You can see the minimum Initial Margin and Maintenance Margin levels for all products here.
The highest leverage Earnfx offers is up to 100x leverage on its Perpetual Bitcoin / USD Perpetual Contract.
Initial Margin is the minimum amount of Bitcoin you must deposit to open a position.
Maintenance Margin is the minimum amount of Bitcoin you must hold to keep a position open. If your margin balance on Earnfx drops below this level your position will be taken over by the Liquidation Engine and be Liquidated.
When the Mark Price of a contract falls below your liquidation price for longs, or rises above your liquidation price for shorts, your Maintenance Margin level has been breached and the Liquidation Engine takes over your position. In your Trade History, the price the liquidated position was closed at is the Bankruptcy Price (equivalent to where your Maintenance Margin is equal to 0).
Upon liquidation, the Liquidation Engine attempts to close the position at the prevailing market price. If it is unable to do so then Auto-Deleveraging will occur.
No. We have a sophisticated margin and liquidation process that is designed to prevent any trader’s margin balance on Earnfx from ever going below 0.
No. Earnfx employs an Auto-Deleveraging System that does not need to socialise losses.
Auto-Deleveraging occurs when a liquidation remains unfilled in the market. Traders who hold opposing positions will be closed out according to leverage and profit priority.