Understanding Order Types on WEEX

WEEX is a cryptocurrency exchange designed to provide users with a platform for trading various digital assets. This article provides a beginner-friendly overview of the platform, focusing on key features, order types, and essential aspects of trading on WEEX.

Core Features

**Spot Market:** WEEX offers a Spot market where users can buy and sell cryptocurrencies at their current market price.
**Futures Market:** WEEX also provides access to a futures market, allowing users to speculate on the future price of cryptocurrencies. This involves contracts that obligate the buyer to purchase an asset at a predetermined price on a specific date.

Supported Assets

WEEX supports a wide range of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and many others. For a complete list of supported cryptocurrencies, please refer to WEEX Supported Cryptocurrencies: A Complete List.

Spot and Futures Basics

**Spot Market:** In the Spot market, trades are settled immediately, meaning you receive the cryptocurrency you purchased as soon as the order is filled.

**Futures Contracts:** Futures contracts allow you to buy or sell a set amount of cryptocurrency at a predetermined price on a future date. This can be used for hedging against price fluctuations or speculating on market movements.

Order Types

WEEX offers several order types to cater to different trading strategies:

**Limit Order:** A Limit order is an order to buy or sell a cryptocurrency at a specific price or better. Your order will only be executed if the market price reaches your limit.

**Market Order:** A Market order is an order to buy or sell a cryptocurrency at the best available market price. This type of order is executed immediately, but the price may fluctuate.

Liquidity and Markets

Liquidity refers to the ease with which an asset can be bought or sold without affecting its price.

WEEX strives to provide high liquidity across its markets, ensuring that users can execute trades efficiently. You can assess the liquidity of a particular market by looking at the Order book, which displays the buy and sell orders at different price levels.

For more information on liquidity and market activity, see Understanding Open Interest in Crypto Futures: A Key Metric for Analyzing Market Activity and Liquidity.

Security Practices

WEEX prioritizes the security of user funds and employs a range of security measures, including:

**Two-Factor Authentication (2FA):** This adds an extra layer of security by requiring users to enter a unique code in addition to their password.
**Cold Storage:** A significant portion of user funds are stored offline in cold wallets, which are not connected to the internet and are therefore less susceptible to hacking attempts.

KYC/Limits

To comply with regulations and prevent fraud, WEEX implements Know Your Customer (KYC) procedures. Users are required to verify their identity before they can trade on the platform.

Trading limits may vary depending on the user's verification level.

Funding and Withdrawals

WEEX supports various funding methods, including bank transfers and crypto deposits. Withdrawal requests are typically processed within a specified timeframe, and users can track the status of their withdrawals on the platform.

Mobile and Web UX

WEEX offers a user-friendly interface on both its web platform and mobile app, making it easy for users to navigate and execute trades.

Risks and Responsible Trading

Cryptocurrency trading involves inherent risks, including price volatility and the potential for loss. It is essential to conduct thorough research, understand the risks involved, and only invest what you can afford to lose.

WEEX encourages responsible trading practices and provides educational resources to help users make informed decisions.

First Steps Checklist

**Register an Account:** Register here
**Complete KYC Verification:** Verify your identity to unlock trading features.
**Fund Your Account:** Deposit funds using your preferred method.
**Start with Small Trades:** Begin with a small amount to familiarize yourself with the platform.
**Utilize Limit Orders:** Use limit orders to control your risk and enter trades at desired prices.
**Learn and Stay Informed:** Continuously educate yourself about cryptocurrency markets and trading strategies.

Recommended Futures Trading Platforms

Platform	Futures perks & welcome offers	Register / Offer
Binance Futures	Up to 125× leverage, USDⓈ-M contracts; new users can receive up to 100 USD in welcome vouchers, plus lifetime 20% fee discount on spot and 10% off futures fees for the first 30 days	Sign up on Binance
Bybit Futures	Inverse & USDT perpetuals; welcome bundle up to 5,100 USD in rewards, including instant coupons and tiered bonuses up to 30,000 USD after completing tasks	Start on Bybit
BingX Futures	Copy trading & social features; new users can get up to 7,700 USD in rewards plus 50% trading fee discount	Join BingX
WEEX Futures	Welcome package up to 30,000 USDT; deposit bonus from 50–500 USD; futures bonus usable for trading and paying fees	Register at WEEX
MEXC Futures	Futures bonus usable as margin or to pay fees; campaigns include deposit bonuses (e.g., deposit 100 USDT → get 10 USD)	Join MEXC

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Understanding Order Types on WEEX

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