We are proud to announce that we are finally live with the initial version of our platform.
It took a bit longer than expected, but the benefits that you will experience are totally worth the wait.
Here is a bit more about us.
Our objective at Monfex is to make crypto trading simple and accessible for everyone. There are many crypto exchanges out there, but we want to be your crypto broker.
What does crypto broker mean?
First, we are going to let you trade the top coins long or short with leverage on our super user-friendly platform.
Second, we are going to give you features that are typically only accessible at full-service brokerage firms...Things like powerful market research, social trading, the ability to run your own managed accounts, and more.
That’s the exciting stuff. But we did not forget the basics. Our customer support is top notch, and we take the security of your funds very very seriously.
So let’s get into a bit more details about what we have available...
Working with Monfex
There are 4 main ways a client works with a broker: account opening, depositing funds, trading and withdrawing funds. Our objective is to make each of these processes as simple and effective as possible.
Opening your account with Monfex could not be any easier. Simply fill out a short form, create a password and you are in! The whole process takes under 30 seconds.
Funding your account is also mega simple. We only take Bitcoin deposits at this time.
If you don’t have Bitcoin and don’t know how to get it, check here on how to get it quickly, easily and securely.
If you currently do have Bitcoin simply click the DEPOSIT button at the top right-hand corner of our platform.
Our deposit box containing your unique deposit address will open up. Simply send the amount you want to deposit to this address.
Our system will receive the Bitcoin and credit your account with the amount deposited. And you are ready to trade!
When it comes to trading our top priority is to be stable and user-friendly.
First, we simplify the trading by letting you trade perpetual contracts on the top coins with up to 50x leverage. Our contracts don’t expire and move dollar for dollar with the coin that you are trading.
It may sound complex, but it’s not….Basically, it’s the same as buying or selling cryptos but you can go long or short and only need to put up a fraction of the price of the coin to enter your trade.
Let’s do a quick example. Let’s assume that you have access to 10X leverage, Bitcoin is trading at $3500 and you think the price is going to drop.
Based on this assumption you decide to short (bet that the price will drop) 1 Bitcoin. You simply click the sell button on your platform and select 1 BTC as the amount.
With 10X leverage, you only put up .1 BTC ($350 worth of margin). And your trade will Move dollar for dollar with the price of the Bitcoin as if you were holding 1BTC.
For example, if you are correct and Bitcoin drops by $100 to $3400 you will earn .028 BTC ($100 equivalent) on your trade. That is a 28% return on the margin that you put up!
To learn more about our instruments and see more trade examples check out our Instrument Details Page.
Naturally, you can see that a little money can go a long way with Monfex.
Withdrawing funds is just as easy as depositing. Click the withdrawal option from the profile menu. Choose the amount you want to take out and enter your BTC wallet address and we will send you your Bitcoin. It’s that simple!
Now that you got the basics, you need some strategies to trade bitcoin successfully. Here are a few things that you can find on our website.
Need Trading ideas? Monfex provides you high quality weekly fundamental and technical analysis in our blog.
Our analysts don’t just look at the charts, but analyze key market impacting data to give you conceive weekly reports and market forecasts.
If you want to create a trading strategy of your own we will give you all the right tools. Simply check out our resource section. We will be updating our education section with key info about effective fundamental and technical analysis methods for cryptos.
Want to learn more about Monfex? Check out our resource section. Here you can find tutorials on how to use our platform and tools.
Things to Come
We are super excited to be live finally and have you on board. I think that you will find working with us an enjoyable and rewarding experience.
We are just starting out so we can not stress enough about how much we value your feedback. Please write, and give us your feedback.
Here is a sneak peek of what’s in our product pipeline.
Short term - we plan to enhance our platform, add more coins and increase leverage.
Midterm - we want to offer social trading, managed accounts and create our own mobile app.
Long term - we want to add new instruments like crypto indexes and crypto options.
We will keep you updated on our developments on this blog. And looking forward to taking this journey with you.