You don't need a separate "borrow" step. Just place your order in Margin mode.
Steps to open a position
- Transfer funds to your Margin Wallet. They serve as your collateral.
- Place a buy order (to go long) or a sell order (to go short) for more than your available balance.
- When your order fills, Bitso automatically borrows the missing amount for you.
How big can my position be
Your maximum order size is your Trading Power, shown on every margin order ticket. Bitso doesn't use a leverage slider. Instead, Trading Power tells you the largest order you can place right now, based on your suitability category, the collateral in your Margin Wallet, and your existing open positions. Opening a position consumes Trading Power; closing one frees it up.
Your order must also keep your account within safe risk limits. Orders that would put your account at immediate risk if filled are rejected when you place them.
What happens after you open the position
Borrowed funds accrue interest every hour, for as long as your position is open. Both long and short positions affect your Margin Level: if it falls below the maintenance threshold, your positions may be liquidated.
Didn't work? Here's what to do
- Order rejected for exceeding your Trading Power: reduce your order size or transfer more collateral to your Margin Wallet.
- Order rejected for putting your account at immediate risk: reduce your order size to stay within your risk limits.
- If the problem continues, contact our support team.