Getting started with Spot Margin
Spot Margin is not available by default. To unlock it, you'll need to pass a short knowledge test and accept the product's Terms & Conditions. Both steps are completed in the app.
Step 1. Pass the knowledge test
A short multiple-choice quiz covering:
How short selling works;
The role of collateral and the Margin Account;
Fees (opening, borrowing, closing, liquidation);
The Position Risk Indicator and what triggers liquidation;
The risks of holding positions over time.
You can review the help articles, take the quiz, and retry if you don't pass. The goal isn't to gatekeep. It's to make sure you've thought through what you're doing.
📚 Tip: Read What is Spot Margin?, How it works, Fees, and Liquidation before taking the test. Questions are drawn from those concepts.
Step 2. Accept the Terms & Conditions
After you pass the test, you'll be asked to read and accept:
The Spot Margin Terms & Conditions;
The Risk Disclosure.
These are shorter than typical T&Cs and worth reading. Spot Margin is then unlocked on your account.
Step 3. Open your first position
Go to the Coins screen in the app.
Tap a supported asset (BTC, ETH, or XRP at launch).
Tap Decrease.
Enter the euro amount of collateral you want to commit.
Review the trade confirmation screen:
Position size and borrowed amount;
Borrowing fee rate;
Closing and liquidation fees;
Estimated liquidation price.
Confirm.
Your position is live. Track it in your Margin Account.
Pre-trade checklist
Before you confirm, ask yourself:
✅ Do I have a clear reason this asset will drop?
✅ Do I have a target exit price, both for profit and loss?
✅ Can I afford to lose the full collateral?
✅ Can I monitor this position regularly?
✅ Are there major events coming up that could spike the price?
Common first-trade mistakes
Risking more than you can afford on the first trade. Your first position is the most expensive way to learn how the product feels. Use an amount you'd be genuinely fine losing while you get used to how the Position Risk Indicator behaves.
Holding too long. Borrowing fees can quietly turn a winning trade into a losing one.
Forgetting you can't modify. Once open, you can't add or withdraw collateral. Pick your size carefully.
Ignoring catalysts. Even a strong bearish thesis can be overwhelmed by a single bullish news event.