1.DigiFinex margin trading interest rate:
- Users can enjoy a grace period of up to 8 hours (No interest will be charged if closing position before the above calculation time)
- Daily interest will be calculated as 0.03% of the borrowed amount after this adjustment. Interest will be calculated as 0.01% of the amount borrowed at 00:00, 08:00 and 16:00 every day and collected after the position is closed.
- 0.09% per day, if you hold the long Positions
- 0.03% per day, if you hold the short positions
2.When will interest be calculated?
Users need not apply for additional loans if they do margin trading on DigiFinex, as the system will loan and return assets automatically.
Interest will only be calculated when the users are holding the position. If the positions are closed, the column under interest should be blank.
3.A recap of relevant terminologies:
1) Positions: Position is the act of buying or selling an asset in hopes to gain profit. Traders can buy positions in 2 directions - long and short. If they have believe that the asset price has potential to increase in the long run, they can choose to go long by buying the asset at a lower price and selling it when the price increases. On the contrary, if they predict that the asset price will fall, they can play it to their advantage by going short, meaning that they can sell the asset at a higher price and buy it back when it falls to a lower price. Both ways allow the traders to make a profit regardless of a rising or falling market.
DigiFinex users will be able to see relevant information about their trading pair on the DigiFinex “Exchange” page under the “Positions” tab, such as the direction, amount, P/L, and LIQ price.
2) Closed position: A position is closed when the trade direction is reversed. If the trader opened the position by going long, then selling the assets at a higher price will close the position. Conversely, if the trader opened the position by going short, then buying the assets back at a lower price will close the position.
If the number of assets sold or bought in reverse is equal to the number of assets held in the position, then it is a fully closed position. If the reversed quantity is less than the position quantity, it is a partially closed position. When the reversed quantity is greater than the position quantity, it will be an exceeded closed position.
How to ask for help：
Tips, beware of false customer service:
1). Do not provide account password, SMS, Google verification code, WeChat and bank card password to anyone including DigiFinex Exchange Customer Service
2). Please look for the official website: Digifinex.vip & DigiFinex.com
3). Don't click on the unofficial link, beware of computer poisoning information leaks.
4). The DigiFinex exchange staff will not ask you to transfer the payment.
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