The EOS contract will offer leverage of up to 20:1.
Huobi Derivative Market (Huobi DM), the digital asset derivative trading platform of Huobi, the third largest cryptocurrency exchange in the world, announced this Friday that it has expanded its contract trading service to include the altcoin EOS.
EOS joins Bitcoin (BTC) and Ethereum (ETH) contract services previously available on the platform. On Huobi DM, traders will be able to take both long and short positions on EOS, allowing for arbitrage, speculation, and hedging, the statement said.
EOS is the token of EOS.IO, a Blockchain protocol which is powered by the cryptocurrency. EOS was launched in 2017, and since then, its price has fluctuated between $18 and less than $0.80.
Commenting on the update, the Huobi Global CEO Livio Weng said: "We've seen a great response to our Bitcoin and Ethereum contract services from a broad range of sophisticated traders."
"Along with that, we're also seen strong demand to expand Huobi DM to other coin types as well. Adding EOS contract service is part of our ongoing efforts to address customer demand."
According to the statement released today, the fees for trading the EOS derivative on Huobi DM for makers will be 0.02 percent and, for takes to both open and close positions, 0.03 percent.
Huobi DM risk mitigation
The contract will offer leverage of up to 20x and will support price limit, order limit and position limit orders, the statement said. To protect investors from large losses, the platform has a dedicated Risk Management Insurance Fund for all trading pairs to protect against unfilled liquidation order losses and has set up a 20,000 BTC Huobi Security Fund. This is to protect its customers against catastrophic security failures.
"Huobi DM can be a powerful tool in managing risk in EOS and other Cryptocurrencies. That's an important factor when dealing with bear markets, such as the one we find ourselves in now," Weng added.
Huobi Derivative Market (Huobi DM), the digital asset derivative trading platform of Huobi, the third largest cryptocurrency exchange in the world, announced this Friday that it has expanded its contract trading service to include the altcoin EOS.
EOS joins Bitcoin (BTC) and Ethereum (ETH) contract services previously available on the platform. On Huobi DM, traders will be able to take both long and short positions on EOS, allowing for arbitrage, speculation, and hedging, the statement said.
EOS is the token of EOS.IO, a Blockchain protocol which is powered by the cryptocurrency. EOS was launched in 2017, and since then, its price has fluctuated between $18 and less than $0.80.
Commenting on the update, the Huobi Global CEO Livio Weng said: "We've seen a great response to our Bitcoin and Ethereum contract services from a broad range of sophisticated traders."
"Along with that, we're also seen strong demand to expand Huobi DM to other coin types as well. Adding EOS contract service is part of our ongoing efforts to address customer demand."
According to the statement released today, the fees for trading the EOS derivative on Huobi DM for makers will be 0.02 percent and, for takes to both open and close positions, 0.03 percent.
Huobi DM risk mitigation
The contract will offer leverage of up to 20x and will support price limit, order limit and position limit orders, the statement said. To protect investors from large losses, the platform has a dedicated Risk Management Insurance Fund for all trading pairs to protect against unfilled liquidation order losses and has set up a 20,000 BTC Huobi Security Fund. This is to protect its customers against catastrophic security failures.
"Huobi DM can be a powerful tool in managing risk in EOS and other Cryptocurrencies. That's an important factor when dealing with bear markets, such as the one we find ourselves in now," Weng added.
Binance Assists Dutch Authorities in Exposing $30M Online Fraud
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now π https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africaβs premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africaβs premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now π https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
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#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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