TRX/USD: Trade TRX to US Dollar
TRX/USD (TRX to USD) is a currency pair where TRX represents base currency, while USD — quoted currency. This currency pair shows how much USD is needed to buy 1 TRX. On the TRX/USD chart, traders see how the TRX price changed at a specified timeframe.
How do I start trading TRX/USD with leverage?
All CEX.IO Broker users can trade TRX/USD on margin using Contracts for Difference (CFDs). To get access to this trading, you just need to create a trading account and set the leverage you want to trade with. All trading operations in this account will be made taking into account the defined leverage. If you want to change leverage, then just create a new trading account for the currency pair with another leverage. After setting up the leverage, you need to fund your account to start trading with margin.
If you are new to margin trading, then you can start with a free demo account to test and discover the platform. The demo account may help you understand how the trading terminal works and what trading instruments are available, before trading with your own funds. Demo account can also come in handy when you want to try out some new strategy prior to deploying it on your Live account.
How to trade CFD on TRX?
With CEX.IO Broker and CFDs, you can trade on TRX without owning the asset. But how is this possible? The thing is that CFD allows you to benefit from the price change both on rising and falling markets. You can open the so-called Long position if you think that asset price moves upward, or open the Short position in case you expect downward movement. If the price moves in the direction you expected, you can take profit from that.
Leverage allows you to operate a bigger amount of funds for trading, so it gives the potential to increase the profit respectively. For example, if you use 2x leverage, it is possible to double potential profit, when the price moves in the right direction for your position. At the same time, leverage increases the risk, especially if the price moves in the opposite direction as expected.
What options are available for TRX/USD trading on CEX.IO Broker?
At CEX.IO Broker, there is a broad range of leverages available for TRX/USD trading — 2x-100x. Depending on trading strategy, you can use multiple trading accounts for trading TRX/USD currency pair.
Besides, it is possible to use a few order types for trading — market, limit, stop, and one-cancels-the-other (OCO).
- The market order allows traders to buy/sell an asset for the best available market price at the moment.
- The limit order is executed when the price reaches the specified level or better.
- The Stop order fills at the exact price you set.
- The OCO order is a combination of a limit and stop orders. As soon as one of them fills, the other one gets cancelled by default.
What trading instruments may help to benefit from TRX/USD trading?
CEX.IO Broker gives an opportunity to open up to 10 trading accounts that have different settings to test various strategies at the same time. You can choose different leverages and account currencies (BTC, ETH, or USDT) for each of your accounts. Also, CEX.IO Broker features cross and isolated margin which help you evaluate the efficiency of various trading approaches on different accounts.
Cross margin allows using balance and profit of one position to satisfy margin requirements for another position within the same account. Isolated margin applies to different accounts and helps keep financial results between them separate. Unlike some other margin trading platforms where you need to choose between cross and isolated margin, at CEX.IO Broker you can use both options.
Also, traders may set up protection orders like Stop Loss and Take Profit to specify the level where the position should be closed. Protection orders allow traders to get more control over trading and to avoid or lessen the potential loss from unexpected price movements.
Why trade the TRX/USD pair?
TRX is one of the top cryptocurrencies and a native token of the Tron network. This token is used for smart contracts operation and maintenance as well as to pay for the content shared in the network. Developers around the world use the Tron network to create decentralized applications on blockchain and own tokens. This makes the cryptocurrency more popular and influences its trading volume and market liquidity.
TRX is a quite volatile asset which brings interest to both long and short traders. Also, TRX/USD is one of the most traded pairs on the market.
Trade with CEX.IO Broker and benefit from aggregated liquidity
CEX.IO Broker aggregates liquidity from the multiple cryptocurrency exchanges that provide liquid order book and narrow spreads on the platform. With aggregated liquidity, CEX.IO Broker can execute users’ orders at the prices that reflect the available liquidity on the biggest crypto exchanges. CEX.IO Broker executes users’ orders in the market by routing these orders, via the liquidity provider, to the largest exchanges.