Futures trading platforms often provide users with various incentives to enhance their trading experience. Among the most common are trial funds, airdrop positions, and fee vouchers. These tools can help you explore the market, practice strategies, and reduce costs. This guide explains how to use them effectively, ensuring you make the most of these offerings while understanding their terms and conditions.
Understanding Futures Trial Funds
Futures trial funds are essentially demo credits that allow you to trade in the futures market without risking your own capital initially. They are designed to give you a hands-on experience with how futures trading works.
Key Rules for Using Trial Funds
- Usage and Withdrawal: Trial funds can only be used for futures trading. While the profits you generate from these funds are withdrawable, the principal trial amount itself is not. Any unused trial funds will be automatically reclaimed by the platform upon expiration.
- Application: These funds can serve as margin for your trades. They can also be used to cover trading fees, losses, and funding costs incurred during your trading activities.
Transaction Records: The use of trial funds to cover costs will be reflected in your capital flow history. It's common for multiple deductions (like fees, losses, and funding costs) to be combined into a single transaction entry for simplicity.
- Example: If you have 5 USDT in trial funds and a closed position results in a 2.5 USDT loss with a 0.03 USDT fee, your flow history will show a trial fund deduction of 2.53 USDT.
- If your trial fund balance is insufficient to cover the full cost, the entire balance will be used. For instance, with 2 USDT in trial funds against a 2.53 USDT total cost, the history will show a -2 USDT entry.
- Account Activity: Transferring any assets out of your futures account before the trial funds are fully consumed will result in the immediate forfeiture of all remaining trial funds.
- Rebates: Any trading fees paid for using trial funds are not eligible for commission rebates.
How to Check Your Trial Fund Balance
To view your available trial funds:
- Navigate to the Assets section of your trading app.
- Select the Futures tab.
- Your trial fund balance will be listed under the USDT asset list, often labeled as "Trial Funds" or "Experience Gold."
To review the detailed usage history of your trial funds:
- Tap your profile icon in the app.
- Go to Transaction Records.
- Select Futures Trading.
- Choose Capital Flow and apply a filter for "Trial Funds" to see all related transactions.
A Comprehensive Guide to Airdrop Positions
Airdrop positions are special, pre-funded trading positions gifted to selected users, often as part of a promotional campaign or loyalty program.
How to Qualify for an Airdrop Position
These positions are typically offered to specially invited users. If you are selected, you will usually receive a direct link to an activity page or see a pop-up notification within the app inviting you to claim your position.
Participating in the Airdrop Campaign
Once you successfully claim an airdrop position, you should receive a confirmation email. The platform will automatically open a BTCUSDT perpetual contract position for you with a value of 100 USDT, using 10x leverage. The direction of the position (long or short) is usually assigned randomly.
Important Note: You cannot claim an airdrop position if you already have an open position or pending orders for the BTCUSDT pair.
Locating and Managing Your Airdrop Position
After claiming, you can immediately view your new position on the BTCUSDT perpetual contract trading page.
You have full control over this position. You can:
- Add to it to increase potential profits.
- Set Take-Profit and Stop-Loss orders to manage risk.
- Close the position entirely.
Upon closing the position, any profits you've made are yours to withdraw. However, the initial margin provided for the airdrop is automatically reclaimed by the platform and is not withdrawable or reusable.
Risk Disclaimer: If your airdrop position incurs a loss (and you haven't added any extra margin to it), your maximum loss is limited to the value of the airdropped asset. Your personal funds in the account will not be affected.
Utilizing Trading Fee Vouchers
Fee vouchers are coupons that directly offset the cost of trading by covering a portion of your transaction fees.
Rules for Using Fee Vouchers
- Purpose and Expiry: These vouchers are exclusively for deducting futures trading fees. They cannot be used as trading margin or withdrawn as cash. Unused vouchers will expire automatically after their validity period.
- Automatic Application: The deduction is applied automatically when a trading fee is generated. There is no need for manual selection during order placement.
- Deduction Priority: Vouchers have the highest deduction priority. The platform's fee payment hierarchy is typically: Fee Vouchers > Trial Funds > MX Deduction (if applicable).
- Rebates: Similar to trial funds, any fees covered by a voucher are not eligible for commission rebates.
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Frequently Asked Questions
Q: What happens if my trial fund position gets liquidated?
A: If a position using trial funds is liquidated, the trial funds will cover the losses up to their available balance. Since the trial funds themselves are not your asset, you won't lose your own money, but the trial funds will be consumed, and any remaining balance after liquidation will be reclaimed.
Q: Can I combine multiple fee vouchers on a single trade?
A: This depends on the platform's specific policy. Typically, vouchers may have rules governing stacking. It's best to check the terms and conditions of each voucher to see if they can be combined or if only one can be applied per transaction.
Q: Are profits from airdrop positions subject to any taxes?
A: Tax liabilities on trading profits vary greatly by jurisdiction. It is your responsibility to understand and comply with the tax laws in your country of residence regarding income generated from cryptocurrency trading and airdrops.
Q: Why can’t I see my airdrop position after claiming it?
A: First, ensure you are looking at the correct trading pair (e.g., BTCUSDT). If you still cannot see it, try refreshing the app or checking your email for a confirmation of successful claim. If the issue persists, contact customer support.
Q: Do fee vouchers expire?
A: Yes, almost all fee vouchers have an expiration date. Always check the validity period in the voucher's terms to ensure you use it before it becomes invalid.
Q: Can I transfer my trial funds or vouchers to another user?
A: No, these incentives are almost always non-transferable. They are tied to the account that received them and cannot be sent to another user.