Binance Futures Questionnaire Answers

Enable Futures on Binance

If you are logging in for the first time on Binance, you will find the futures section in the top right corner of your computer, click there. If you are on mobile, you will see under the different options, also the futures option, which is located between wallet and trade. Click there to access the futures from your mobile and be able to trade.

When you access for the first time, you will see a form that you must fill in to be able to trade futures. Above all, get informed before you start trading and answer the form about the risks of trading futures and leverage, if you do not want to lose the money you invest. With that said, here are the answers to the form:

1. what is the maximum leverage available on Binance Futures?

Answer: 125 times.

Which wallet is not compatible with Binance Futures trading?

Answer: The margin wallet.

3. Which of these is not the key difference between USDT margined futures and currency margined futures?

Answer: Leverage level

4. What is the maximum loss for trading a futures contract?

Answer: 100% of the margin

5. Which of these is not the main difference between perpetual and quarterly futures?

Answer: The method of trading.

6. If a user has open orders or position, which of the following can the user do?

Answer: Borrow using the cross-collateralization feature.

7. What is the reference price that Binance Futures uses to determine if a position should be liquidated?

Answer: The reference price.

8. When will a user receive a margin call? When their margin balance is less than:

Answer: Maintenance margin

9. Can BNBs (Binance Coin) in users’ USDT margined portfolios be used as margin for opening new positions?

Answer: No, BNBs in users’ USDT margin portfolios can only be used to pay commissions.

10. Can unrealized PNL (profit and loss) be used as margin for opening new positions?

Answer: Yes.

Which of the following actions is not recommended during drastic price movements?

Answer: Use the market order to enter or exit.

12. Should I take out a personal loan to trade futures?

Answer: No, I should trade within my financial means.

In case there are different answers, once you have answered the form, you will see that the wrong ones are marked in red, and you can simply enter another answer in the form until you have them all correct. With the correct answers, the last thing to do is to start trading futures.

If you are new I leave you a guide to trade futures with Binance here, so you can consult and understand the operation of this financial derivative.

I hope it has been useful for you to answer the answers of the form in the right way. Remember, if you don’t have an account with Binance yet, you can create one just below.