FIL/USD: Trade FIL to USD
FIL/USD (FIL to USD) is a pair where FIL represents a base currency, while USD is quote currency. This pair shows the price of 1 FIL in USD. At CEX.IO Broker, it’s possible to monitor FIL price history on the FIL/USD chart.
How does CFD trading with margin on FIL/USD work?
Trading Contracts for difference (CFDs) with margin on CEX.IO Broker allows customers to take advantage of the price changes of particular assets without physically buying or selling this asset.
To trade CFDs, you need to open a position in correspondence with your prediction of the market movement. Say you think the price of FIL will grow. So you open a Long (or Buy) position. If your guess is correct, the position can bring you potential profit.
Should the price move in the opposite direction, the position may be at loss.
At CEX.IO Broker, you can open only Long positions on FIL for the time being. Short positions are not available yet.
How to start trading with margin on CEX.IO Broker?
Starting with CEX.IO Broker will take you a few steps:
- You need to register an account. If you are already a CEX.IO user, you’ll just need to log in to CEX.IO Broker account with your CEX.IO credentials.
- Choose your account base currency (BTC, ETH, or USTD).
- Set the leverage - you can choose from 2x to 100x.
After that, fund your account and start trading!
What options are available for CFD trading with margin on FIL/USD?
Among the options of CEX.IO Broker, one the most important is a range of different leverage sizes - from 2x to 100x. Leverage allows you to operate bigger trading capital than you own.
Another thing is that CEX.IO allows you to open up to ten accounts. There you can apply different leverages and account base currencies based on your trading strategies.
What is more, there are four order types on the platform: Limit, Market, Stop, and OCO.
- Market order fills in accordance with the current price.
- Limit order fulfills at the set price or better.
- Stop order executes when the price on the market reaches the amount you specified.
- OCO, or One-cancels-the-other, comprises Stop and Limit orders. One of them will execute, while another will be canceled automatically.
What can help make trading FIL/USD on margin more successful?
CEX.IO Broker features such options as cross margin and isolated margin.
Cross margin refers to the operations within one account. It means that the account balance and the margin of one position can be used to satisfy the margin requirements of another position.
Isolated margin refers to the transactions between different trading accounts. It means that the financial results of one trading account don't affect those of the other one.
While other platforms offer only one of the options — cross or isolated margin — CEX.IO Broker allows you to use both at the same time.
What tools can I use to trade FIL/USD at CEX.IO Broker?
By using the CEX.IO Broker, users get access to a complete suite of technical analysis tools.
What’s more, you can create the terminal view by enabling the market indicators and instruments of your choice.
There are a plethora of tools to customize the terminal according to your needs.
For example, you can change the chart setting or modify its appearance. Click on the Gear icon on top of the terminal to see the available settings.
Why trade the FIL/USD pair?
In 2017, Filecoin raised $205 million in an initial coin offering (ICO) aiming to store people’s most important information. Filecoin was launched in 2020. Filecoin aims to protect the integrity of a data’s location, while making it easy to retrieve and hard to censor.
Filecoin (FIL) is a cryptocurrency of the Filecoin network. FIL tokens are used as payment for the services in the network and as a reward to ensure files are safely stored reliably over time.
This drives the demand and hence price for the token. And consequently, it makes the token interesting for the traders.
On CEX.IO Broker, you can trade CFDs on FIL/USD with margin and use the FIL’s potential to your benefit.
CEX.IO Broker: both for professional traders and new market players
CEX.IO Broker is an integral part of the CEX.IO ecosystem, which has been contributing to the cryptocurrency industry since 2013.
CEX.IO Group has been serving clients around the world, allowing them to interact with the open financial system from different aspects: buying, selling, trading (on spot and derivative markets), staking and earning cryptocurrencies.