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Binance Futures Quiz Answers
1. Are Binance Futures profitable?
Answer: Many beginners in the futures trading market start making huge profits almost right away.
2. Is Binance Futures halal
Answer: The basic principle in futures trading and transactions is that it is Halal except as stipulated by the legislator. The shareholding company, although not regulated by Islamic law its controls must be legal and ethical in its activites and contracts.
3. Is Binance Futures available in the US?
Answer: The interface and many features are the same, but there are differences such as the amount of cryptocurrencies available to trade in the U.S. vs. elsewhere, as well as which states Binance.US is allowed to operate in. United States users cannot buy crypto using the international Binance platform.
4. Is Binance Futures available in Australia?
Answer: Binance, the world’s largest cryptocurrency by volume, will stop offering cryptocurrency futures and options to its Australian customers, according to a report published in Sep, 2021.
5. Is Binance Futures gambling?
Answer: Yes it is if you’re not using a rule based plan for the type and style of trading you are doing.
6. Is Binance Futures down?
Answer: Binance.com is UP and reachable by us.
7. What are Binance Futures fees?
Answer: Maker fee rates start at 0.02% and can be as low as 0.0000%. Compared to taker fees of other main competing exchanges, only Huobi offers an equally low initial taker fee rate of 0.04%, and all other exchanges are higher.
8. Do Binance Futures expire?
Answer: In other words, futures contracts have a limited lifespan and will expire based on their respective calendar cycle. For instance, our BTC 0925 is a quarterly futures contract that will expire 3 months upon the date of issuance.
9. Does Binance Futures have interest?
Answer: Binance is a perfect choice for traders searching for the hottest cryptocurrency futures as the exchange supports the widest variety of altcoins. The largest derivatives exchange by volume and open interest.
10. What is the maximum loss that may occur when engaging in futures trading?
Answer: All futures wallet balance
11. When futures balance is liquidated, what price is it based on?
Answer: Mark Price
12. Are you aware that after the future is forcedly liquidated, in addition to the loss of the position, Insurance Clear Fee (= Position nominal value * Liquidation fee rate) will occur, which may decrease your futures wallet balance to zero?
Answer: Yes, I am aware of the existence and calculation of the Insurance Clear Fee and the risks that may cause the balance to return to zero.
13. There is a maximum number of orders for each future. Which action should I take?
Answer: Once the maximum quantity limit is reached, the order will fail, and an error will be reported. At this time, I should divide the order into several smaller quantities.
14. Which of the following apply when using a stop-market order?
Answer: After the stop-profit and stop-loss price is triggered, the transaction will be executed immediately at the market price, and the transaction price may not be equal to the trigger price.
15. Which of the following is correct to use Stop-Limit Order?
Answer: After the stop-profit and stop-loss price is triggered, the order will be placed at the limit price immediately, but the limit order may not necessarily be filled because the price has moved away.
16. What kind of behavior should I avoid when engaging in futures transactions?
Answer: Strong gambling, trading addictions, continuous losses, and blaming others.
17. To continue trading on the futures, I have:
Answer: understood the rules and risks of engaging in futures transactions, and I agree that any loss incurred in the transaction is my responsibility regardless of the platform.
18. Due to network delays, system failures and other possible factors which may lead to suspension or deviation of Binance Futures service execution, Binance will use commercially reasonable efforts to ensure but not promise that Binance Futures service system runs effectively. Binance shall not be liable for the final execution results due to the above factors.
19. Profit and loss (PnL) in futures are calculated by:
Answer: After closing a position, according to the opening price and closing price to calculate actual profit and loss.
20. When you encounter a failure to trade constantly, you must:
Answer: Check the network and retain information for customer service.
21. Futures fees include:
Answer: In addition to the order commission, positions also produce capital expenses and liquidation expenses.
22. In Coin-margined futures trading, what kind of currency can be used as margin:
Answer: The currency of this future.
23. In the event of a service disruption on Binance Futures, you may use the “close all positions” function to cancel all orders and close all open positions. However, due to unpredictable factors, the final execution result of this function might deviate from your expectations, and Binance shall not be liable for the final results.
FAQs on Binance Futures
What are Binance futures?
Binance offers crypto futures contracts that are settled and collateralized in their based cryptocurrency; these contracts are also known as COIN-margined contracts. For instance, investors can trade Bitcoin-margined contracts, which allows them to earn Bitcoin when their futures position returns a profit.
How long can you hold Binance futures?
From July 19 th, 2021, Binance has introduced leverage limits for the trader with registered futures account of fewer than 30 days.
What is the difference between Binance margin and futures?
Margin trading will incur daily expenses which add up over time. Meanwhile, quarterly futures contracts incur no fees and are ideal for long-term holders. Prices of margin pairs are similar to spot prices, while futures prices consist of the futures’ basis, which may fluctuate according to changes in supply and demand.
What is the minimum trade on Binance?
What is funding fee in Binance futures?
Funding fees are periodic payments to traders. Funding fees are paid peer-to-peer. Therefore, Binance takes no fees from funding rates as they happen directly between users. Depending on their positions, traders will either pay or receive funding.