What is leveraged trading?

About leveraged trading

For Leveraged trading API, please refer to the following link (New order - Exchange API).

At coincheck exchange, you can use leveraged trading feature by borrowing bitcoin or YEN. Currently, you can leverage up to 5x.

Using coincheck exchange leveraged trading feature, you can trade on the short or long side on margin.

For example, if you trade 10 thousand yen on margin you can trade up to 50 thousand yen worth of bitcoins.

Also by using leveraged trading feature, you can check the status of acquisition cost, execution amount, unrealized gain and unrealized loss.

Unlike margin trading where you have to borrow bitcoins and YEN manually, at leveraged trading you don't need to borrow beforehand. Borrowing will be executed automatically when there is a successful order.

現在のポジション
Displayed on top is current position. On the bottom is position in the past.

You can start using leveraged trading at coincheck exchange. We will explain detailed usage in the following instructions.

For account registration and JPY deposit please refer to following pages.

Account registration

How to deposit Japanese YEN

Transfer your assets to leveraged account from the transfer page.

Have you already deposit cash to your account? If you already have, the next step is transferring cash to your leveraged trading account.

The trading margin in leveraged trading account is managed differently from other accounts.

Due to above reason, you need to transfer your assets from the transfer page.

レバレッジアカウントへチャージ
Transferring 118,798 JPY from regular account to leveraged trading account.
レバレッジアカウントへ振替後
JPY transfer completed

New order

You can place a new order at coincheck exchange.

新規レバレッジ注文
New leverage trading order

Once you enter rate and amount required margin will be displayed.

The required margin will be calculated based on the following equation. Rate x amount / leverage rate. For example, required margin of 50000 BTC/ JPY for 3 BTC at 5x leverage will be 50000 x 3 / 5 = 30000.

You can check your margin and leverage from the dashboard.

残高
The account holds 131,767 JPY.

Also, instead of entering BTC order amount you can set % amount you want to spend.

For example, if you hold 100,000 YEN margin and set new order at 50%, you can order 50,000 worth of bitcoins.

パーセントで指定
Set %

Position

When your leveraged trading order is executed, your position will be displayed on the bitcoin exchange position tab.

現在のポジション
On the top is the current position. The bottom is position in the past.

The example shows trader with 1.519BTC long position at 43176BTC/JPY. Currently, trader holds 370000 Yen worth of unrealized gain.

You can also look back at past positions profit.

Fees are included in unrealized profit and profit.

Settlement order

In case you hold a position as a new order, you need to execute settlement order to confirm your profit.

Select position you want to settle from the position list. Click display detail to see a settlement order page.

決済注文の例
Settlement order example

In this example the user hold a short position of 1.51121228BTC. To settle the order there must be same amount of buy order.

When payment is completed, it will be displayed as settlement completed. The profit will be confirmed.

fee

Trading fees is same as regular fees. For more detail refer to Fees . The fee will be only applied when the order actually settled. If you trade using limit order there will be no fee.

With leveraged trading you borrow Yen or bitcions. When holding a 100,000 Yen long position you will borrow 100,000 Yen. When holding a 10BTC short position you will borrow 10BTC. From above reason when you actually borrow Yen or bitcions there will be an interest.

Current interest rate when holding a long position is 0.04 %/day. When holding a short position(borrowing bitcoins) interest rate is 0.05 %/day. Either way, interest will occur every 24 hours until settlement is completed.

Deposit maintenance rate

Equation for deposit maintenance rate

Deposit maintenance rate = Net assets / ((borrowing amount + unsettled order amount) / leverage rate)

Net assets = Deposit amount + Position's unrealized profit

Borrowing amount = Total borrowing amount of each position

Unsettled order amount = Unsettled new order amount(ex. Order of 3BTC at 50000 BTC/JPY = 150,000JPY)

We will proceed order with Deposit maintenance rate lower than 100J.

Settlement order will not be counted as unsettled order amount.

Loss cut

If deposit maintenance rate is lower than 50.0 %, we might settle your order forcibly. We do not take any responsibility for customers loss.

About risk

Risks associated with margin trading

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