ONT/USD: Trade Ontology to US Dollar
A currency pair represents the price of one asset quoted against another. ONT/USD is a currency pair, where ONT is a base currency, and US Dollar - quote one. This quotation shows the price of 1 ONT in USD. All price changes in this pair are reflected on the ONT/USD chart. Chart analysis can help study the asset price changes over time and build various trading strategies.
How to profit from trading CFDs in pairs with ONT?
The cryptocurrency market is known for the fact that prices there change more rapidly than on any other financial markets. Consequently, it makes this market popular among the users who want to benefit from its volatility.
Trading on CEX.IO Broker works on Contracts for Difference (CFDs). CFD trading makes it possible to take advantage of both growing and a falling market. It works as follows - you need to study the current market situation, make your assumption about the next price moves, and open the corresponding positions. Long — if the asset shows signs of growth. Short — if you think the trend will go down. The profit of such trading depends on whether you correctly predict the price movement or not.
How does CFD on Ontology (ONT) work?
The most important point to understand before working with CEX.IO Broker is that the derivatives market is fundamentally different from the spot market.
In CFD trading, you are not supposed to buy or sell an asset itself, unlike in the spot market. You enter into an agreement (contract) with the platform regarding the direction of the trading asset in question. Thus, on CEX.IO Broker, you can benefit from the price fluctuations of the crypto or other assets that are even not in your wallet.
What options are available for ONT trading on CEX.IO Broker?
One of the trading options CEX.IO Broker provides is leverage. The platform offers a wide range of leverages from 2x to 100x. Leverage enlarges your trading capital. Consequently, it can increase your potential profit depending on the leverage size you use. But it works in two ways and can increase both your potential gains and potential losses. It is important to assess and control the risks when you place orders with leverage.
What can help make trading CFDs on CEX.IO Broker more successful?
Using CEX.IO Broker you can open up to 10 trading accounts at the same time. You can apply different settings and test various strategies on each of the accounts.
You can use 3 different currencies (BTC, ETH, or USDT) as your account base currencies. This means you will fund your balance with the selected currency only. However, at the same time, you can trade any asset on the platform. Funding your CEX.IO Broker account with ETH, for instance, you can trade pairs like ONT/USD, EUR/GBP, AAPL/USD and others. You don’t need to store all of them in your wallet.
A wide range of leverage options — from 2x to 100x — allows you to choose the ones that suit your trading needs. You can apply different leverages to each of your accounts.
CEX.IO Broker also features cross and isolated margin. Cross margin allows using balance and profit of one position to satisfy margin requirements for another position. It is available within the same account. Isolated margin applies to different accounts and makes their trading results fully independent.
Why trade the ONT/USD pair?
First Ontology launch was in 2017 on the NEO blockchain basis. But later the team has launched its own MainNet and starting from 30th June 2018 ONT network operates independently. Despite the relative novelty of the asset, ONT has many fans and followers. Ontology is in the top-100 popular crypto lists, which means that this cryptocurrency is rather high-demanded.
In pair with USD, this cryptocurrency is supported by the interest of a wide audience, which provides an attractive trading potential.
Trade on CEX.IO Broker: catch every market opportunity with different order types
Various order types can help you realize trading strategies of any complexity. Understanding order types is essential as different orders fit different market situations. If you are not sure how they work - invest some time to study them. Then, you can try them out using a free demo account on CEX.IO Broker.
Here is a list of orders available on CEX.IO Broker:
- Market Order — is suitable for instant trading operations at a current market price.
- Limit Order — fits when you want to execute a trade at a specific price or better.
- Stop Order — can come in handy when you need to fill an order at a certain price only.One-Cancels-the-Other Order (OCO) — makes a combination of Stop and Limit orders. As soon as one of the orders fills, the second one gets canceled.
Additionally, you can use Stop Loss and Take Profit. They are the instruments for risk management. Stop Loss
helps minimize the possible loss. Take Profit
allows you to fix the profit of your position at a certain price.