List with the most frequently asked questions from the community about paper trading. Updated as users ask new ones during paper trading competition
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What is Paper Trading?
The paper trading allows you to trade with play money through a virtual account without risking losing real money.
What happens if I run out of Paper Trading funds?
Less fund won’t affect your competition rank. Since we calculate the rank based on profit rate. So you don’t need to worry about it. After the competition end, if your fund is less than $100, then you can request through customer service, we can help you add more virtual funds.
Play virtual funds with caution and be aware of high leverages. You can treat virtual fund as real money.
Do I need to pass the KYC to use Paper Trading?
It is not necessary to pass the KYC but remember that it is recommended for security reasons of your account and to be able to make other types of movements such as withdrawals, quick purchases, etc in Mexo.
Where are my funds for Paper Trading?
Paper trading funds are found within the portfolio of contracts, these have a special sticker to differentiate them from real currencies.
How can I transfer funds to do Paper Trading?
These funds are automatically added to your account when you start the perpetual contract, they can be transferred to other wallets within your account but they only work on the perpetual contract platform.
What benefit do I get if I do Paper Trading?
Allow novice traders to enter the world of trading.
It allows to know the trading platform before operating with real capital.
identify if your planned strategy is adequate.
Try new trading strategies.
Learn to manage your emotions, a factor that is very important to minimize losses and increase profits.
Do I win or lose something doing paper trading?
You do not lose anything and you acquire the knowledge and experience necessary to start operating successfully with real money.
what is the bonus trading?
This is a bonus that Mexo will give you in your perpetual contract wallet, you can use this bonus to trade and you can withdraw all the profits you get but you cannot withdraw the bonus itself. Remember the bonus will last only six months so you have all this time to trade once the bonus is deposited on your account.
(Prior Mexo)