The new CryptoFacilities Turbo contracts have taken the bitcoin trading community by storm. The London-based bitcoin futures exchange has FCA regulation and recently collaborated with CME, so they're a trusted name in the space. While other exchanges offer high leverage with profit clawbacks and waiting period to withdraw profits, CryptoFacilities allows you max 50x leverage trading with no clawbacks! Your profit is available to withdraw instantly.
Visit the generic CryptoFacilities walkthrough we have to get started with setting up your account and depositing. Here we will go over the specific Turbo product and how you can trade safely with high leverage. Start by going to the "Account" section of the site to fund your Turbo account:
Clicking the "Transfer" link will give you this popup, where you can transfer coin from your Cash or Futures account into Turbo:
Once you have funded your Turbo account, go to the "Trading" section of the site to open the actual trading platform:
If you already are trading on CryptoFacilities then you will find this familiar. That's because The Turbo Futures are identical to the Futures (normal ones), just with higher leverage. Notice on the left in the picture above, the orderbook of the contract you have selected. You can click the Weekly or Biweekly Turbo Futures after clicking the Tab "Turbo Futures". This will allow you then to execute MKT (market), LMT (limit) and STP (stop limit) orders.
Each contract on CryptoFacilities is worth 1 Bitcoin. As an example, I'm going to go SHORT 2 Contracts (2 BTC), and on the right you can see the Initial Margin Buy and Sell requirements. For the Sell it shows 0.041 BTC. That means I am able to short 2 BTC worth of bitcoin with only 0.041 BTC. That's about 50x leverage.
Note: If you are already in a position, the Initial Margin on the right side will show as 0 BTC, because it won't cost you any margin to exit a position. If you are short and have, say, a -1 Contract position, then you just Buy 1 contract in the market to close out your position.
Back to the trading: you can make it a market or a limit order, I decided to press "Market" and then sell the 2 contracts -- REMEMBER YOU DO NOT NEED TO "OWN" FUTURES CONTRACTS TO SELL THEM SHORT! You are just taking one side of the contract and putting up margin to be short. See the main futures guide to learn these basics if you're confused.
You can see in the Trade History the 2 contract sell got filled and now I have a position short in the Turbo Futures on biweekly. This means now I have a -2 Contracts Position on May16-W5 turbo contract. In order to close out this position, I would need to Buy 2 Contracts to go flat. In this case, I would hope for the price to go down, then look in the orderbook for a nice place to buy and get a positive profit.
If I went LONG and was +2 Contracts Position, I would just need to SELL 2 contracts in order to close out my position and capture any profit (or loss). You can go long just as easily as you can go short on BTCUSD using CryptoFacilities bitcoin futures contracts. All it requires is bitcoin to put in margin, and the exchange manages the risk well with liquidations and termination to avoid any social loss clawback of profits.
This is how easy it is. You can monitor your PNL under "account" and then "Margin Accounts". Click "Bitcoin Futures" or "Bitcoin Turbos" to show either summary and you will get an overview of what your liquidation and termination thresholds are too:
That's really how simple it is to trade Turbo 50x leverage BTCUSD contracts on CryptoFacilities. You can transfer more bitcoin into your Turbo account if you want to use less leverage than 50x. So if you put 0.1 BTC in there and trade 2 contracts, you will be at about 20-25x leverage rather than 50x, which is maybe more what you're used to at a site like OKCoin.
Enjoy trading on CryptoFacilities with NO clawbacks, no waiting for withdrawing your profits, and not being worried about any shadiness because they are properly audited and have FCA regulatory recognition.
Get $10 in Bitcoin when you sign up and make your first trade using this link.